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 2020

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

81,494

125,226

CURRENT ASSETS

Stocks

554,862

570,628

Debtors

5

19,667

24,664

Cash at bank and in hand

108,769

146,333

683,298

741,625

CREDITORS

Amounts falling due within one year

6

461,703

398,297

NET CURRENT ASSETS

221,595

343,328

TOTAL ASSETS LESS CURRENT LIABILITIES

303,089

468,554

CREDITORS

Amounts falling due after more than one year

7

(7,305

)

(199,627

)

PROVISIONS FOR LIABILITIES

9

(2,158

)

(7,344

)

NET ASSETS

293,626

261,583

CAPITAL AND RESERVES

Called up share capital

125,000

125,000

Retained earnings

168,626

136,583

SHAREHOLDERS' FUNDS

293,626

261,583

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 9 September 2020 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.

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 30 (2019 - 31 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2019

259,913

251,935

16,850

528,698

Additions

-

948

-

948

At 31 March 2020

259,913

252,883

16,850

529,646

DEPRECIATION

At 1 April 2019

191,870

209,847

1,755

403,472

Charge for year

25,743

14,724

4,213

44,680

At 31 March 2020

217,613

224,571

5,968

448,152

NET BOOK VALUE

At 31 March 2020

42,300

28,312

10,882

81,494

At 31 March 2019

68,043

42,088

15,095

125,226

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

Motor

vehicles

£

COST

At 1 April 2019

and 31 March 2020

16,850

DEPRECIATION

At 1 April 2019

1,755

Charge for year

4,213

At 31 March 2020

5,968

NET BOOK VALUE

At 31 March 2020

10,882

At 31 March 2019

15,095

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

18,423

21,033

Other debtors

1,244

3,631

19,667

24,664

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

5,537

5,128

Trade creditors

155,886

122,822

Taxation and social security

60,922

78,130

Other creditors

239,358

192,217

461,703

398,297

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

3,776

9,455

Other creditors

3,529

190,172

7,305

199,627

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.20

31.3.19

£

£

Hire Purchase

9,313

14,583

9.	PROVISIONS FOR LIABILITIES

31.3.20

31.3.19

£

£

Deferred tax

2,158

7,344

Deferred

tax

£

Balance at 1 April 2019

7,344

Timing differences

(5,186

)

Balance at 31 March 2020

2,158

10.	RELATED PARTY DISCLOSURES

As at 31 March 2020 the company owed Mr and Mrs A M Dicken £75,529 (2019: £221,529). £3,529 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 £74,940 (2019: £77,213). As at 31 March 2020 the company owed Masada Developments Limited

£7,495 (2019: £Nil).

A M Dicken is a trustee of the Dickens Executive Pension Scheme. As at 31 March 2020 the company owed the

Directors Executive Pension Scheme £Nil (2019: £Nil).

As at 31 March 2020 the company owed Marcusan LLP, a limited liability partnership whose partners are also

the directors of the company, £Nil (2019: £Nil).

11.	ULTIMATE CONTROLLING PARTY

The company is under the control of its directors.