NEEDHAMS (FURNISHERS) LIMITED - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00329210

Unaudited Financial Statements for the Year Ended 31 January 2024

for

NEEDHAMS (FURNISHERS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs S Walker

SECRETARY:

REGISTERED OFFICE:

Temple Chambers

16a Belvoir Road

Coalville

Leicestershire

LE67 3QE

REGISTERED NUMBER:

00329210

ACCOUNTANTS:

Elverstone Large Ltd

Chartered Certified Accountants

Temple Chambers

16a Belvoir Road

Coalville

Leics

LE67 3QE

FIXED ASSETS

Tangible assets

4

3,262

3,322

CURRENT ASSETS

Cash at bank

28,647

29,778

CREDITORS

Amounts falling due within one year

5

487

768

NET CURRENT ASSETS

28,160

29,010

TOTAL ASSETS LESS CURRENT LIABILITIES

31,422

32,332

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Other reserves

589

589

Retained earnings

29,833

30,743

SHAREHOLDERS' FUNDS

31,422

32,332

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 12 February 2024 and were signed by:

Mrs S Walker - Director

1.	STATUTORY INFORMATION

NEEDHAMS (FURNISHERS) 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.

Tangible fixed assets

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

Freehold property

-

2% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1 February 2023

and 31 January 2024

8,318

3,524

11,842

DEPRECIATION

At 1 February 2023

4,996

3,524

8,520

Charge for year

60

-

60

At 31 January 2024

5,056

3,524

8,580

NET BOOK VALUE

At 31 January 2024

3,262

-

3,262

At 31 January 2023

3,322

-

3,322

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

(1

)

-

Taxation and social security

35

314

Other creditors

453

454

487

768