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Company Registration No. 12145675 (England and Wales)
Courts Flooring Ltd Unaudited accounts for the year ended 31 August 2023
Courts Flooring Ltd Unaudited accounts Contents
Page
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Courts Flooring Ltd Company Information for the year ended 31 August 2023
Directors
Mr M Court Mrs E Court
Company Number
12145675 (England and Wales)
Registered Office
90 Cainscross Road Stroud Gloucestershire GL5 4HB United Kingdom
Accountants
Next Level Accountants Limited 35 Goddard Way Tuffley Gloucester Gloucestershire GL4 0YA
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Courts Flooring Ltd Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
25,184 
7,417 
Current assets
Inventories
9,000 
14,000 
Debtors
25,996 
13,565 
Cash at bank and in hand
1,276 
14,492 
36,272 
42,057 
Creditors: amounts falling due within one year
(37,277)
(26,384)
Net current (liabilities)/assets
(1,005)
15,673 
Total assets less current liabilities
24,179 
23,090 
Creditors: amounts falling due after more than one year
(7,000)
(11,000)
Provisions for liabilities
Deferred tax
(4,785)
(1,410)
Net assets
12,394 
10,680 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
12,294 
10,580 
Shareholders' funds
12,394 
10,680 
For the year ending 31 August 2023 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 September 2023 and were signed on its behalf by
Mr M Court Director Company Registration No. 12145675
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Courts Flooring Ltd Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
Courts Flooring Ltd is a private company, limited by shares, registered in England and Wales, registration number 12145675. The registered office is 90 Cainscross Road, Stroud, Gloucestershire, GL5 4HB, United Kingdom.
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Presentation currency
The accounts are presented in £ sterling.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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:
Plant & machinery
20% Straight Line
Motor vehicles
20% Straight Line
Fixtures & fittings
20% Straight Line
Computer equipment
25% Straight Line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Courts Flooring Ltd Notes to the Accounts for the year ended 31 August 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 September 2022
8,750 
1,733 
1,041 
11,524 
Additions
14,500 
10,655 
- 
25,155 
At 31 August 2023
23,250 
12,388 
1,041 
36,679 
Depreciation
At 1 September 2022
3,500 
347 
260 
4,107 
Charge for the year
4,650 
2,478 
260 
7,388 
At 31 August 2023
8,150 
2,825 
520 
11,495 
Net book value
At 31 August 2023
15,100 
9,563 
521 
25,184 
At 31 August 2022
5,250 
1,386 
781 
7,417 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
24,950 
5,165 
Accrued income and prepayments
- 
8,400 
Other debtors
1,046 
- 
25,996 
13,565 
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Courts Flooring Ltd Notes to the Accounts for the year ended 31 August 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
4,000 
4,000 
VAT
12,898 
1,966 
Taxes and social security
- 
2,402 
Loans from directors
13,129 
18,016 
Accruals
7,250 
- 
37,277 
26,384 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
7,000 
11,000 
8
Average number of employees
During the year the average number of employees was 5 (2022: 2).
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