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REGISTERED NUMBER: 04184655 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

Ross & Hughes Carpets Limited

Ross & Hughes Carpets Limited (Registered number: 04184655)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Balance Sheet 1

Notes to the Financial Statements 3


Ross & Hughes Carpets Limited (Registered number: 04184655)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 431,877 409,685

CURRENT ASSETS
Stocks 184,899 176,648
Debtors 5 529,977 611,935
Cash at bank 163,213 130,110
878,089 918,693
CREDITORS
Amounts falling due within one year 6 425,937 470,283
NET CURRENT ASSETS 452,152 448,410
TOTAL ASSETS LESS CURRENT
LIABILITIES

884,029

858,095

CREDITORS
Amounts falling due after more than one
year

7

(114,596

)

(139,592

)

PROVISIONS FOR LIABILITIES 9 (16,363 ) (9,041 )
NET ASSETS 753,070 709,462

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 752,970 709,362
753,070 709,462

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

Ross & Hughes Carpets Limited (Registered number: 04184655)

Balance Sheet - continued
31 March 2022


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2022 and were signed on its behalf by:




N D Millington - Director



W H Ross - Director


Ross & Hughes Carpets Limited (Registered number: 04184655)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Ross & Hughes Carpets Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04184655

Registered office: Ty Seiont House
Cibyn Industrial Estate
Caernarfon
Gwynedd
LL55 2BD

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.
Land and buildings - 4% on cost
Plant and machinery etc - 25% on reducing balance

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 Statement of Income and Retained Earnings, 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.

Ross & Hughes Carpets Limited (Registered number: 04184655)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 26 (2021 - 25 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2021 431,219 254,630 685,849
Additions - 69,702 69,702
At 31 March 2022 431,219 324,332 755,551
DEPRECIATION
At 1 April 2021 78,824 197,340 276,164
Charge for year 15,765 31,745 47,510
At 31 March 2022 94,589 229,085 323,674
NET BOOK VALUE
At 31 March 2022 336,630 95,247 431,877
At 31 March 2021 352,395 57,290 409,685

Included in cost of land and buildings is freehold land of £ 37,100 (2021 - £ 37,100 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 475,559 562,307
Other debtors 54,418 49,628
529,977 611,935

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts 30,129 72,742
Hire purchase contracts 16,431 9,218
Trade creditors 290,069 248,450
Taxation and social security 76,753 119,721
Other creditors 12,555 20,152
425,937 470,283

Ross & Hughes Carpets Limited (Registered number: 04184655)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.22 31.3.21
£    £   
Bank loans 98,925 126,724
Hire purchase contracts 15,671 12,868
114,596 139,592

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 14,724

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.22 31.3.21
£    £   
Bank loans 126,925 153,724

The lender holds a legal mortgage on the freehold property and a fixed and floating charge on the other assets.

9. PROVISIONS FOR LIABILITIES
31.3.22 31.3.21
£    £   
Deferred tax 16,363 9,041

Deferred
tax
£   
Balance at 1 April 2021 9,041
Charge to Statement of Income and Retained Earnings during year 7,322
Balance at 31 March 2022 16,363

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2022 and 31 March 2021:

31.3.22 31.3.21
£    £   
W H Ross
Balance outstanding at start of year 771 (133 )
Amounts advanced 1,500 904
Amounts repaid (2,407 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (136 ) 771

Ross & Hughes Carpets Limited (Registered number: 04184655)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs A L Ross
Balance outstanding at start of year 2,052 1,327
Amounts advanced 3,344 2,225
Amounts repaid (3,500 ) (1,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,896 2,052

A L Hughes
Balance outstanding at start of year 3,213 3,186
Amounts advanced 2,699 3,527
Amounts repaid (4,500 ) (3,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,412 3,213

N D Millington
Balance outstanding at start of year (5,556 ) (556 )
Amounts advanced 27,189 -
Amounts repaid (10,440 ) (5,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 11,193 (5,556 )

Mrs C W Millington
Balance outstanding at start of year - -
Amounts advanced 27,175 -
Amounts repaid (18,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,175 -