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REGISTERED NUMBER: 04569296 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

G J P FLOORING LIMITED

G J P FLOORING LIMITED (REGISTERED NUMBER: 04569296)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


G J P FLOORING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTOR: G J Pires





REGISTERED OFFICE: Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE





REGISTERED NUMBER: 04569296 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

G J P FLOORING LIMITED (REGISTERED NUMBER: 04569296)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,888 13,505

CURRENT ASSETS
Stocks 2,900 14,880
Debtors 5 52,706 29,376
Cash at bank and in hand 253,603 211,776
309,209 256,032
CREDITORS
Amounts falling due within one year 6 66,221 58,191
NET CURRENT ASSETS 242,988 197,841
TOTAL ASSETS LESS CURRENT
LIABILITIES

256,876

211,346

PROVISIONS FOR LIABILITIES 2,640 2,600
NET ASSETS 254,236 208,746

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 254,235 208,745
SHAREHOLDERS' FUNDS 254,236 208,746

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 director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 August 2022 and were signed by:





G J Pires - Director


G J P FLOORING LIMITED (REGISTERED NUMBER: 04569296)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. STATUTORY INFORMATION

G J P Flooring 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 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 represents consideration received or receivable for flooring sales and services, measured at fair value, 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.
Furniture, fittings & Equipment - 15% on reducing balance
Computer equipment - 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method.

The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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.

G J P FLOORING LIMITED (REGISTERED NUMBER: 04569296)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


2. ACCOUNTING POLICIES - continued

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 1 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Furniture,
fittings Computer
& Equipment equipment Totals
£    £    £   
COST
At 1 April 2021 4,377 22,817 27,194
Additions 897 1,870 2,767
At 31 March 2022 5,274 24,687 29,961
DEPRECIATION
At 1 April 2021 2,057 11,632 13,689
Charge for year 449 1,935 2,384
At 31 March 2022 2,506 13,567 16,073
NET BOOK VALUE
At 31 March 2022 2,768 11,120 13,888
At 31 March 2021 2,320 11,185 13,505

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 50,493 27,163
Other debtors 1,775 1,775
Prepayments and accrued income 438 438
52,706 29,376

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts - 7,258
Trade creditors 936 1,554
Tax 18,562 31,212
Social security and other taxes 6,686 4,701
VAT 32,833 10,056
Other creditors 3,899 1,185
Directors' current accounts 812 500
Accruals and deferred income 2,493 1,725
66,221 58,191