At Home Furnishings Outlet Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04121045 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

At Home Furnishings Outlet Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A M Dicken

Mrs A Dicken

SECRETARY:

I Huntington

REGISTERED OFFICE:

2a Malleable Way

Stockton-on-Tees

Cleveland

TS18 2QX

REGISTERED NUMBER:

04121045 (England and Wales)

ACCOUNTANTS:

APC Accountancy

Chartered Accountants

Queens Court Business Centre

Newport Road

Middlesbrough

TS1 5EH

FIXED ASSETS

Tangible assets

4

125,226

153,473

CURRENT ASSETS

Stocks

570,628

683,199

Debtors

5

24,664

51,303

Cash at bank and in hand

146,333

149,951

741,625

884,453

CREDITORS

Amounts falling due within one year

6

398,297

522,206

NET CURRENT ASSETS

343,328

362,247

TOTAL ASSETS LESS CURRENT LIABILITIES

468,554

515,720

CREDITORS

Amounts falling due after more than one year

7

(199,627

)

(316,122

)

PROVISIONS FOR LIABILITIES

9

(7,344

)

(7,494

)

NET ASSETS

261,583

192,104

CAPITAL AND RESERVES

Called up share capital

125,000

125,000

Retained earnings

136,583

67,104

SHAREHOLDERS' FUNDS

261,583

192,104

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

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

(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 Board of Directors on 6 August 2019 and were signed on its behalf by:

A M Dicken - Director

1.	STATUTORY INFORMATION

At Home Furnishings Outlet 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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost and 15% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2018 - 31 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2018

259,913

251,670

9,980

521,563

Additions

-

265

16,850

17,115

Disposals

-

-

(9,980

)

(9,980

)

At 31 March 2019

259,913

251,935

16,850

528,698

DEPRECIATION

At 1 April 2018

165,934

192,636

9,520

368,090

Charge for year

25,936

17,211

2,215

45,362

Eliminated on disposal

-

-

(9,980

)

(9,980

)

At 31 March 2019

191,870

209,847

1,755

403,472

NET BOOK VALUE

At 31 March 2019

68,043

42,088

15,095

125,226

At 31 March 2018

93,979

59,034

460

153,473

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

16,850

At 31 March 2019

16,850

DEPRECIATION

Charge for year

1,755

At 31 March 2019

1,755

NET BOOK VALUE

At 31 March 2019

15,095

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

21,033

47,442

Other debtors

3,631

3,861

24,664

51,303

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts

5,128

-

Trade creditors

122,822

224,480

Taxation and social security

78,130

61,758

Other creditors

192,217

235,968

398,297

522,206

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts

9,455

-

Other creditors

190,172

316,122

199,627

316,122

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.3.18

£

£

Hire Purchase

14,583

-

9.	PROVISIONS FOR LIABILITIES

31.3.19

31.3.18

£

£

Deferred tax

7,344

7,494

Deferred

tax

£

Balance at 1 April 2018

7,494

Timing differences

(150

)

Balance at 31 March 2019

7,344

10.	RELATED PARTY DISCLOSURES

As at 31 March 2019 the company owed Mr and Mrs A M Dicken £221,529 (2018: £347,479). £190,172 of this

balance is non current. No interest is currently being charged on this loan.

During the year Masada Developments Limited, a company of which A M Dicken is a director, invoiced the

company £77,213 (2018: £22,979).

As at 31 March 2019 the company owed Masada Developments Limited £Nil (2018: £7,494).

A M Dicken is a trustee of the Dickens Executive Pension Scheme. As at 31 March 2019 the company owed the

Directors Executive Pension Scheme £Nil (2017: £Nil).

As at 31 March 2019 the company owed Marcusan LLP, a limited liability partnership whose partners are also

the directors of the company, £Nil (2018: £7,050).

11.	ULTIMATE CONTROLLING PARTY

The company is under the control of its directors.