Bianchi Furniture Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04635568

Unaudited Financial Statements for the Year Ended 31 December 2022

for

Bianchi Furniture Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W M Bianchi

Mrs RT Bianchi

S A J Bianchi

Mrs E C Bianchi

REGISTERED OFFICE:

2 Walsworth Road

Hitchin

Hertfordshire

SG4 9SP

REGISTERED NUMBER:

04635568

ACCOUNTANTS:

D and E Accountancy Ltd

Tax Advisors and Accountants

2nd Floor, 2 Walsworth Road

Hitchin

Hertfordshire

SG4 9SP

FIXED ASSETS

Intangible assets

4

-

4,996

Tangible assets

5

2,744

4,384

2,744

9,380

CURRENT ASSETS

Debtors

6

86,181

88,174

Cash at bank

37,026

40,041

123,207

128,215

CREDITORS

Amounts falling due within one year

7

8,285

10,503

NET CURRENT ASSETS

114,922

117,712

TOTAL ASSETS LESS CURRENT LIABILITIES

117,666

127,092

PROVISIONS FOR LIABILITIES

8

521

833

NET ASSETS

117,145

126,259

CAPITAL AND RESERVES

Called up share capital

9

60

60

Share premium

9,991

9,991

Retained earnings

107,094

116,208

SHAREHOLDERS' FUNDS

117,145

126,259

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2023 and were signed on its behalf by:

W M Bianchi - Director

1.	STATUTORY INFORMATION

Bianchi Furniture Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2022

and 31 December 2022

100,000

AMORTISATION

At 1 January 2022

95,004

Charge for year

4,996

At 31 December 2022

100,000

NET BOOK VALUE

At 31 December 2022

-

At 31 December 2021

4,996

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2022

and 31 December 2022

17,068

12,093

29,161

DEPRECIATION

At 1 January 2022

15,425

9,352

24,777

Charge for year

360

1,280

1,640

At 31 December 2022

15,785

10,632

26,417

NET BOOK VALUE

At 31 December 2022

1,283

1,461

2,744

At 31 December 2021

1,643

2,741

4,384

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade debtors

71,018

73,178

Other debtors

15,163

14,996

86,181

88,174

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade creditors

(1,544

)

1,200

Taxation and social security

7,594

7,328

Other creditors

2,235

1,975

8,285

10,503

8.	PROVISIONS FOR LIABILITIES

31.12.22

31.12.21

£

£

Deferred tax

521

833

Deferred

tax

£

Balance at 1 January 2022

833

Credit to Income Statement during year

(312

)

Balance at 31 December 2022

521

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.22

31.12.21

value:

£

£

60

Ordinary

£1

60

60

10.	ULTIMATE CONTROLLING PARTY

The company is under the joint control of the Directors, no individual controls the company alone.