Furniture Concept Ltd

1 August 2019falseNo description of principal activityTaxfiler2021.204840084business:PrivateLimitedCompanyLtd2019-08-012020-07-31048400842019-07-31048400842019-08-012020-07-3104840084business:AuditExemptWithAccountantsReport2019-08-012020-07-3104840084business:FullAccounts2019-08-012020-07-31048400842020-07-3104840084business:Director12019-08-012020-07-3104840084business:Director22019-08-012020-07-3104840084business:RegisteredOffice2019-08-012020-07-31048400842019-07-3104840084core:WithinOneYear2020-07-3104840084core:WithinOneYear2019-07-3104840084core:ShareCapital2020-07-3104840084core:ShareCapital2019-07-3104840084core:RetainedEarningsAccumulatedLosses2020-07-3104840084core:RetainedEarningsAccumulatedLosses2019-07-3104840084business:SmallEntities2019-08-012020-07-3104840084countries:EnglandWales2019-08-012020-07-3104840084core:MotorVehicles2019-08-012020-07-3104840084core:FurnitureFittings2019-08-012020-07-3104840084core:ComputerEquipment2019-08-012020-07-3104840084core:MotorVehicles2019-07-3104840084core:FurnitureFittings2019-07-3104840084core:ComputerEquipment2019-07-3104840084core:MotorVehicles2020-07-3104840084core:FurnitureFittings2020-07-3104840084core:ComputerEquipment2020-07-31048400842018-08-012019-07-31iso4217:GBPxbrli:pure
Company Registration No. 04840084 (England and Wales)
Furniture Concept LtdUnaudited accounts for the year ended 31 July 2020
Furniture Concept LtdUnaudited accounts Contents
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Furniture Concept Ltd Company Information for the year ended 31 July 2020
Directors
Anna SuszynskaMichal Suszynski
Company Number
04840084 (England and Wales)
Registered Office
PO Box OFFICE 19,Big Yellow Self StorageBeverley Way, New Malden, KT3 4PH
Accountants
Gordons Knight 170, Merton High Street London SW19 1AY
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Furniture Concept Ltd Statement of financial position as at 31 July 2020
2020 
2019 
Notes
£ 
£ 
Fixed assets
Tangible assets
21,640 
27,049 
Current assets
Debtors
15,741 
8,394 
Cash at bank and in hand
84,727 
41,696 
100,468 
50,090 
Creditors: amounts falling due within one year
(121,384)
(61,021)
Net current liabilities
(20,916)
(10,931)
Net assets
724 
16,118 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
624 
16,018 
Shareholders' funds
724 
16,118 
For the year ending 31 July 2020 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 directors acknowledge their 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.
The financial statements were approved by the Board of Directors and authorised for issue on 30 March 2021 and were signed on its behalf by
Michal Suszynski Director Company Registration No. 04840084
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Furniture Concept Ltd Notes to the Accounts for the year ended 31 July 2020
1
Statutory information
Furniture Concept Ltd is a private company, limited by shares, registered in England and Wales, registration number 04840084. The registered office is PO Box OFFICE 19,Big Yellow Self Storage, Beverley Way, New Malden, , KT3 4PH .
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% WDV
Fixtures & fittings
20% WDV
Computer equipment
20% WDV
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2019
57,156 
1,621 
13,834 
72,611 
At 31 July 2020
57,156 
1,621 
13,834 
72,611 
Depreciation
At 1 August 2019
32,444 
1,076 
12,042 
45,562 
Charge for the year
4,942 
109 
358 
5,409 
At 31 July 2020
37,386 
1,185 
12,400 
50,971 
Net book value
At 31 July 2020
19,770 
436 
1,434 
21,640 
At 31 July 2019
24,712 
545 
1,792 
27,049 
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Furniture Concept Ltd Notes to the Accounts for the year ended 31 July 2020
5
Debtors
2020 
2019 
£ 
£ 
Less than one year
Trade debtors
14,500 
8,394 
Accrued income and prepayments
1,241 
- 
Total debtors less than one year
15,741 
8,394 
Greater than one year
Total debtors
15,741 
8,394 
6
Creditors: amounts falling due within one year
2020 
2019 
£ 
£ 
Bank loans and overdrafts
45,000 
- 
VAT
18,586 
4,314 
Obligations under finance leases and hire purchase contracts
- 
6,477 
Trade creditors
11,582 
9,657 
Taxes and social security
4,844 
7,238 
Other creditors
3,110 
2,838 
Loans from directors
38,262 
30,330 
Accruals
- 
167 
121,384 
61,021 
7
Controlling party
The company's controlling party is Michal Suszynski - 49% ; Anna Suszynska - 51% by virtue of his ownership of the issued share capital in the company.
8
Average number of employees
During the year the average number of employees was 2 (2019: 2).
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