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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2018 |
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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 2018 |
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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 2018 |
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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 2018 |
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DIRECTORS: |
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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 2018 |
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31/8/18 | 31/8/17 |
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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Share premium |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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 |
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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 2018 |
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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 Board of Directors on
its behalf by: |
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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 2018 |
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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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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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Fixtures and fittings | - |
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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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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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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 2018 |
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2. | ACCOUNTING POLICIES - continued |
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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4. | INTANGIBLE FIXED ASSETS |
Website |
£ |
COST |
At 1 September 2017 |
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Additions |
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At 31 August 2018 |
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AMORTISATION |
At 1 September 2017 |
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Amortisation for year |
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At 31 August 2018 |
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NET BOOK VALUE |
At 31 August 2018 |
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At 31 August 2017 |
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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 2018 |
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5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and |
property | Equipment | fittings |
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COST |
At 1 September 2017 |
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Additions |
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At 31 August 2018 |
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DEPRECIATION |
At 1 September 2017 |
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Charge for year |
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At 31 August 2018 |
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NET BOOK VALUE |
At 31 August 2018 |
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At 31 August 2017 |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 September 2017 |
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Additions |
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At 31 August 2018 |
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DEPRECIATION |
At 1 September 2017 |
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Charge for year |
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At 31 August 2018 |
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NET BOOK VALUE |
At 31 August 2018 |
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At 31 August 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/8/18 | 31/8/17 |
£ | £ |
Trade debtors |
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Other debtors |
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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 2018 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/8/18 | 31/8/17 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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