Home Furniture Centre Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09168348 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Home Furniture Centre Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr R J Smith

SECRETARY:

REGISTERED OFFICE:

Furniture Centre

Pytchley Lodge Industrial Estate

Kettering

Northamptonshire

NN15 6JQ

REGISTERED NUMBER:

09168348 (England and Wales)

ACCOUNTANTS:

Clifford Roberts

63 Broad Green

Wellingborough

Northamptonshire

NN8 4LQ

FIXED ASSETS

Tangible assets

3

268

358

Investments

4

17,670

17,670

17,938

18,028

CURRENT ASSETS

Debtors

5

2,661

2,661

Cash at bank

447

447

3,108

3,108

CREDITORS

Amounts falling due within one year

6

21,520

21,521

NET CURRENT LIABILITIES

(18,412

)

(18,413

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(474

)

(385

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(574

)

(485

)

SHAREHOLDERS' FUNDS

(474

)

(385

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 20 December 2017 and were signed by:

Mr R J Smith - Director

1.	STATUTORY INFORMATION

Home Furniture Centre Limited is a private company, limited by shares , registered in England and

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

The significant accounting policies applied in the preparation of these financial statements are set out

below. These policies have been consistently applied to all years presented unless otherwise stated.

Preparation of consolidated financial statements

The financial statements contain information about Home Furniture Centre Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company

has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated

financial statements.

Tangible fixed assets

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

Computer equipment

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2016

and 31 March 2017

637

DEPRECIATION

At 1 April 2016

279

Charge for year

90

At 31 March 2017

369

NET BOOK VALUE

At 31 March 2017

268

At 31 March 2016

358

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2016

and 31 March 2017

17,670

NET BOOK VALUE

At 31 March 2017

17,670

At 31 March 2016

17,670

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

VAT

2,661

2,661

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed to group undertakings

21,022

21,023

Directors' current accounts

498

498

21,520

21,521

7.	RELATED PARTY DISCLOSURES

At the year end of the year amounts owing to the director was £498 (2016 - £498).

During the year subsidiary companies were owed £15,023 (2016 - £15,023)

At the year end the company owed £5,999 (2016 - £5,999) to other group companies

These loans were provided interest free and without repayment terms.