REGISTERED NUMBER: 00359830 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

BRITTAINS (FURNISHERS) LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr JA Brittain

Mr NJ Brittain

Mr AT Brittain

SECRETARY:

Mr NJ Brittain

REGISTERED OFFICE:

58-62 High Street

St. Neots

Cambridgeshire

PE19 1JQ

REGISTERED NUMBER:

00359830 (England and Wales)

ACCOUNTANTS:

Davey Grover Limited

Chartered Accountants

Fenice Court

Phoenix Business Park

Eaton Socon

St. Neots

Cambridgeshire

PE19 8EP

FIXED ASSETS

Tangible assets

4

599,161

886,762

CURRENT ASSETS

Stocks

161,912

187,723

Debtors

5

105,382

143,619

Cash at bank and in hand

313,569

128,296

580,863

459,638

CREDITORS

Amounts falling due within one year

6

355,072

325,907

NET CURRENT ASSETS

225,791

133,731

TOTAL ASSETS LESS CURRENT LIABILITIES

824,952

1,020,493

PROVISIONS FOR LIABILITIES

7,433

32,632

NET ASSETS

817,519

987,861

CAPITAL AND RESERVES

Called up share capital

2,150

2,150

Capital redemption reserve

3,850

3,850

Retained earnings

811,519

981,861

SHAREHOLDERS' FUNDS

817,519

987,861

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 29 August 2018 and were signed on its behalf by:

Mr JA Brittain - Director

Mr NJ Brittain - Director

1.	STATUTORY INFORMATION

Brittains (Furnishers) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities"

of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of

Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost

convention, subject to the revaluation of investment properties to market value at the reporting date.

The principal accounting policies adopted in these financial statements have remained unchanged from the

previous year.

Significant judgements and estimates

The preparation of the financial statements require management to make judgements, estimates and assumptions

that affect the amounts reported for revenues and expenses during the year. However, the nature of estimates

means that the actual outcomes could differ from those estimates. There are no judgements (apart from those

involving estimates for depreciation, doubtful debt provisions, and stock provisions) that have had a significant

effect on amounts recognised in the financial statements.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Revenue is recognised to the extent that it is probable that the economic benefit will flow to the Company and

the revenue can be reliably measured. The following criteria must also be met before revenue is recognised:

Supply of goods

Revenue is recognised when goods are delivered and supplied.

Alterations of goods and fitting

Revenue is recognised at the completion of the repair or fitting.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment

losses. Repairs and maintenance of assets are charged to the Statement of income during the period in which they

are incurred.

Depreciation is charged so as to allocate the cost or valuation of assets less their residual value, over their

estimated useful lives on the following basis:

Building - 2% on cost

Plant and machinery - 15% on reducing balance.

Fixtures and fittings - at variable rates on reducing balance.

Motor vehicles - 25% on reducing balance.

No depreciation is charged on investment properties, as these are revalued by the directors annually at the

reporting date.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if

appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are

recognised in the Statement of income.

Stocks

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

moving items.

Taxation

The tax expense for the year comprises of current and deferred tax and is recognised in the income statement.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively

enacted by the reporting date.

The current tax creditor is recognised in creditors within the statement of financial position.

Deferred balances are recognised in respect of all timing differences that have originated but not reversed by the

reporting date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered

against the reversal of deferred tax liabilities or other future taxable profits;

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowance have

been met.

Deferred tax balances are not recognised in respect of permanent differences.

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.

Deferred tax is presented within provisions for liabilities on the statement of financial position at the reporting

date. 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.

Leasing commitments

Leases are charged to the statement of income over the term of the lease on a straight line basis.

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 the statement on income in the period to which they relate.

Debtors

Short term debtors are measured at transaction price, less impairment.

Creditors

Short term creditors are measured at transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2017 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Investment

Plant and

property

property

machinery

£

£

£

COST

At 1 April 2017

451,744

453,671

132,198

Additions

751

11,045

3,339

Disposals

-

(299,562

)

-

At 31 March 2018

452,495

165,154

135,537

DEPRECIATION

At 1 April 2017

62,489

-

119,087

Charge for year

6,088

-

2,311

At 31 March 2018

68,577

-

121,398

NET BOOK VALUE

At 31 March 2018

383,918

165,154

14,139

At 31 March 2017

389,255

453,671

13,111

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2017

70,453

26,870

1,134,936

Additions

14,895

-

30,030

Disposals

-

-

(299,562

)

At 31 March 2018

85,348

26,870

865,404

DEPRECIATION

At 1 April 2017

39,926

26,672

248,174

Charge for year

9,494

176

18,069

At 31 March 2018

49,420

26,848

266,243

NET BOOK VALUE

At 31 March 2018

35,928

22

599,161

At 31 March 2017

30,527

198

886,762

Included in cost of land and buildings is freehold land of £ 210,050 (2017 - £ 210,050 ) which is not depreciated.

The directors consider that the cost recorded in the accounts to 31 March 2018 reflects the open market value of

the investment property at 31 March 2018.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

97,127

135,754

Prepayments and accrued income

8,255

7,865

105,382

143,619

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

105,535

98,716

Tax

11,033

13,470

Social security and other taxes

5,261

6,270

VAT

22,385

27,152

Other creditors

1,298

1,492

Customer orders

133,817

137,788

Accrued expenses

75,743

41,019

355,072

325,907

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

5,223

5,223

Between one and five years

1,306

6,529

6,529

11,752

8.	CAPITAL COMMITMENTS

2018

2017

£

£

Contracted but not provided for in the

financial statements

13,440

-