Company Registration No. 04948119 (England and Wales)
Italian Furniture Direct Limited
Unaudited accounts
for the year ended 31 January 2017
Italian Furniture Direct Limited
Unaudited accounts
Contents
Italian Furniture Direct Limited
Company Information
for the year ended 31 January 2017
Company Number
04948119 (England and Wales)
Registered Office
203 West Street
Fareham
Hampshire
PO16 0EN
Accountants
TaxSense Accountants Ltd
203 West Street
Fareham
Hants
PO16 0EN
Italian Furniture Direct Limited
Statement of financial position
as at
31 January 2017
Inventories
50,000
50,000
Cash at bank and in hand
4,868
12
Creditors: amounts falling due within one year
(211,167)
(283,242)
Net current liabilities
(145,313)
(215,333)
Net liabilities
(145,313)
(215,333)
Called up share capital
100
100
Profit and loss account
(145,413)
(215,433)
Shareholders' funds
(145,313)
(215,333)
For the year ending 31 January 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 10 July 2017.
B Mendel
Director
Company Registration No. 04948119
Italian Furniture Direct Limited
Notes to the Accounts
for the year ended 31 January 2017
Italian Furniture Direct Limited is a private company, limited by shares, registered in England and Wales, registration number 04948119. The registered office and principal place of business is 203 West Street, Fareham, Hampshire, PO16 0EN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 January 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 February 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Raw materials
50,000
50,000
Accrued income and prepayments
-
6,911
Other debtors
10,986
10,986
6
Creditors: amounts falling due within one year
2017
2016
Trade creditors
81,939
60,668
Taxes and social security
10,330
3,660
Other creditors
8,953
178,964
Loans from directors
99,594
36,166
Includes in other creditors of £8,952 (2016: £39,084) is due to Global Furniture Express Ltd, the company shares are wholly owned by the directors.
Italian Furniture Direct Limited
Notes to the Accounts
for the year ended 31 January 2017
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan Account
36,166
98,113
34,686
99,593
36,166
98,113
34,686
99,593
8
Average number of employees
During the year the average number of employees was 4 (2016: 4).