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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2017 |
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THE FURNITURE MARKET.CO.UK LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2017 |
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FOR |
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THE FURNITURE MARKET.CO.UK LIMITED |
THE FURNITURE MARKET.CO.UK LIMITED (REGISTERED NUMBER: 06491540) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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THE FURNITURE MARKET.CO.UK LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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THE FURNITURE MARKET.CO.UK LIMITED (REGISTERED NUMBER: 06491540) |
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BALANCE SHEET |
31 AUGUST 2017 |
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31/8/17 | 31/8/16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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 FURNITURE MARKET.CO.UK LIMITED (REGISTERED NUMBER: 06491540) |
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BALANCE SHEET - continued |
31 AUGUST 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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THE FURNITURE MARKET.CO.UK LIMITED (REGISTERED NUMBER: 06491540) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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1. | STATUTORY INFORMATION |
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The Furniture Market.co.uk Limited is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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These are the first financial statements the Company has prepared in accordance with Financial |
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of |
Ireland'' (FRS 102) as applied to smaller entities by the adoption of Section 1A of FRS 102. The |
financial statements for the year ended 31 August 2016 were prepared in accordance with Financial |
Reporting Standard for Smaller Entities (effective January 2015) (FRSSE). |
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Some of the FRS 102 recognition, measurement, presentation and disclosure requirements and |
accounting policy choices differ from the FRSSE. Consequently the directors have amended certain |
accounting policies to comply with FRS 102. The directors have also taken advantage of certain |
exemptions from the requirements of FRS 102 permitted by FRS 102 Chapter 35 ''Transition to FRS''. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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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. |
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Tangible fixed assets |
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Improvements to property | - |
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Equipment | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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THE FURNITURE MARKET.CO.UK LIMITED (REGISTERED NUMBER: 06491540) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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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. |
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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. |
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Employer financed retirement benefit scheme |
In prior periods the Company established two employer financed retirement benefit schemes for the |
benefit of its officers, employees and their wider families, The Furniture Market.co.uk Limited 2011 |
Employer Financed Retirement Benefit Scheme and The Furniture Market.co.uk Limited 2013 |
Employer Financed Retirement Benefit Scheme ("The Schemes"). |
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In accordance with UITF abstract 32 "Employee Benefit Trusts and other intermediate payment |
arrangements" the Company does not include the assets and liabilities of The Schemes on its balance |
sheet to the extent that it considers that it will not retain any economic benefit from the assets of The |
Schemes and will not have control of the rights or other access to those present economic benefits. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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THE FURNITURE MARKET.CO.UK LIMITED (REGISTERED NUMBER: 06491540) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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4. | INTANGIBLE FIXED ASSETS |
Website |
£ |
COST |
At 1 September 2016 |
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Additions |
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At 31 August 2017 |
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AMORTISATION |
At 1 September 2016 |
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Amortisation for year |
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At 31 August 2017 |
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NET BOOK VALUE |
At 31 August 2017 |
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At 31 August 2016 |
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5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and |
property | Equipment | fittings |
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COST |
At 1 September 2016 |
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Additions |
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Disposals |
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At 31 August 2017 |
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DEPRECIATION |
At 1 September 2016 |
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Charge for year |
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Eliminated on disposal |
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At 31 August 2017 |
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NET BOOK VALUE |
At 31 August 2017 |
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At 31 August 2016 |
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THE FURNITURE MARKET.CO.UK LIMITED (REGISTERED NUMBER: 06491540) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 September 2016 |
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Additions |
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Disposals | ( |
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At 31 August 2017 |
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DEPRECIATION |
At 1 September 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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( |
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At 31 August 2017 |
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NET BOOK VALUE |
At 31 August 2017 |
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At 31 August 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/8/17 | 31/8/16 |
£ | £ |
Trade debtors |
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Website |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/8/17 | 31/8/16 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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THE FURNITURE MARKET.CO.UK LIMITED (REGISTERED NUMBER: 06491540) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2017 |
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8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 August 2017 and |
31 August 2016: |
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31/8/17 | 31/8/16 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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9. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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