Caseware UK (AP4) 2022.0.179 2022.0.179 82022-04-01falseRetail sale of carpets, rugs, wall and floor coverings in specialised stores8truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08188281 2022-04-01 2023-03-31 08188281 2021-04-01 2022-03-31 08188281 2023-03-31 08188281 2022-03-31 08188281 c:Director1 2022-04-01 2023-03-31 08188281 d:Buildings d:ShortLeaseholdAssets 2022-04-01 2023-03-31 08188281 d:Buildings d:ShortLeaseholdAssets 2023-03-31 08188281 d:Buildings d:ShortLeaseholdAssets 2022-03-31 08188281 d:PlantMachinery 2022-04-01 2023-03-31 08188281 d:PlantMachinery 2023-03-31 08188281 d:PlantMachinery 2022-03-31 08188281 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08188281 d:MotorVehicles 2022-04-01 2023-03-31 08188281 d:MotorVehicles 2023-03-31 08188281 d:MotorVehicles 2022-03-31 08188281 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08188281 d:FurnitureFittings 2022-04-01 2023-03-31 08188281 d:FurnitureFittings 2023-03-31 08188281 d:FurnitureFittings 2022-03-31 08188281 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08188281 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08188281 d:CurrentFinancialInstruments 2023-03-31 08188281 d:CurrentFinancialInstruments 2022-03-31 08188281 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08188281 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 08188281 d:ShareCapital 2023-03-31 08188281 d:ShareCapital 2022-03-31 08188281 d:RetainedEarningsAccumulatedLosses 2023-03-31 08188281 d:RetainedEarningsAccumulatedLosses 2022-03-31 08188281 c:FRS102 2022-04-01 2023-03-31 08188281 c:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08188281 c:FullAccounts 2022-04-01 2023-03-31 08188281 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08188281 d:WithinOneYear 2023-03-31 08188281 d:WithinOneYear 2022-03-31 08188281 d:BetweenOneFiveYears 2023-03-31 08188281 d:BetweenOneFiveYears 2022-03-31 08188281 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 08188281 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 08188281 d:RetirementBenefitObligationsDeferredTax 2023-03-31 08188281 d:RetirementBenefitObligationsDeferredTax 2022-03-31 08188281 2 2022-04-01 2023-03-31 08188281 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-03-31 08188281 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-03-31 08188281 d:LeasedAssetsHeldAsLessee 2023-03-31 08188281 d:LeasedAssetsHeldAsLessee 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 08188281










Station Road Carpets (UK) Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 March 2023

 
Station Road Carpets (UK) Ltd
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Station Road Carpets (UK) Ltd for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Station Road Carpets (UK) Ltd for the year ended 31 March 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Station Road Carpets (UK) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Station Road Carpets (UK) Ltd  and state those matters that we have agreed to state to the Board of Directors of Station Road Carpets (UK) Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Station Road Carpets (UK) Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Station Road Carpets (UK) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Station Road Carpets (UK) Ltd. You consider that Station Road Carpets (UK) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Station Road Carpets (UK) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
4 October 2023
Page 1

 
Station Road Carpets (UK) Ltd
Registered number: 08188281

Balance Sheet
As at 31 March 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
19,154
24,771

  
19,154
24,771

Current assets
  

Debtors
 5 
27,934
22,382

Cash at bank and in hand
  
120,331
209,949

  
148,265
232,331

Creditors: amounts falling due within one year
 6 
(82,928)
(153,266)

Net current assets
  
 
 
65,337
 
 
79,065

Total assets less current liabilities
  
84,491
103,836

Provisions for liabilities
  

Deferred tax
 7 
(2,514)
(4,444)

  
 
 
(2,514)
 
 
(4,444)

Net assets
  
81,977
99,392

Page 2

 
Station Road Carpets (UK) Ltd
Registered number: 08188281

Balance Sheet (continued)
As at 31 March 2023

2023
2022
£
£

Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
81,877
99,292

  
81,977
99,392


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
P M Baker
Director
Date: 2 October 2023

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
Station Road Carpets (UK) Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

1.


General information

The Company is a private company limited by share capital, incorporated in England and Wales (Registered number 08188281). 
The address of the registered office is 9 Donnington Park, 85 Birdham Road, Chichester, West Sussex PO20 7AJ.
The principal place of business is 41 Sussex Road, Haywards Heath, West Sussex RH16 4DZ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
Station Road Carpets (UK) Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line or reducing balance basis, depending upon asset class.

Depreciation is provided on the following basis:

Short-term leasehold property
-
straight-line, over the term of the lease (7 or 9 years)
Plant and machinery
-
25%
per annum, reducing balance
Motor vehicles
-
25%
per annum, reducing balance
Fixtures and fittings
-
25%
per annum, reducing balance

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 profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

  
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

Page 5

 
Station Road Carpets (UK) Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 6

 
Station Road Carpets (UK) Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 8).


4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
3,315
51,345
5,652
12,546
72,858


Additions
-
-
-
641
641



At 31 March 2023

3,315
51,345
5,652
13,187
73,499



Depreciation


At 1 April 2022
3,246
34,646
1,412
8,783
48,087


Charge for the year on owned assets
69
4,175
1,060
954
6,258



At 31 March 2023

3,315
38,821
2,472
9,737
54,345



Net book value



At 31 March 2023
-
12,524
3,180
3,450
19,154



At 31 March 2022
69
16,699
4,240
3,763
24,771

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
-
8,501

-
8,501

Page 7

 
Station Road Carpets (UK) Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

5.


Debtors

2023
2022
£
£



Trade debtors
26,181
19,644

Other debtors
-
1,600

Prepayments and accrued income
1,753
1,138

27,934
22,382



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
30,035
45,431

Corporation tax
8,405
18,455

Other taxation and social security
22,413
22,915

Obligations under finance lease and hire purchase contracts
-
4,608

Other creditors
19,100
58,353

Accruals and deferred income
2,975
3,504

82,928
153,266


Page 8

 
Station Road Carpets (UK) Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

7.


Deferred taxation




2023


£






At beginning of year
(4,444)


Charged to profit or loss
1,930



At end of year
(2,514)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(2,690)
(4,856)

Pension surplus
176
412

(2,514)
(4,444)


8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £3,880 (2022 - £3,210). Contributions totalling £931 (2022 - £1,648) were payable to the fund at the balance sheet date and are included in creditors.


9.


Commitments under operating leases

At 31 March 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
6,417
15,375

Later than 1 year and not later than 5 years
-
6,417

6,417
21,792

Page 9