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Company Registration No. 10293893 (England and Wales)
Floortech Installations Ltd Unaudited accounts for the year ended 31 March 2023
Floortech Installations Ltd Unaudited accounts Contents
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Floortech Installations Ltd Company Information for the year ended 31 March 2023
Directors
Antony Jackson Philip Martin Wormald
Company Number
10293893 (England and Wales)
Registered Office
136 Hall Street Stockport Greater Manchester SK1 4HE
Accountants
Bee Motion Accounting Limited 136 Hall Street Stockport Greater Manchester SK1 4HE
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Floortech Installations Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
11,734 
15,544 
Current assets
Inventories
2,000 
2,000 
Debtors
101,242 
73,099 
Cash at bank and in hand
2,698 
1,695 
105,940 
76,794 
Creditors: amounts falling due within one year
(50,688)
(45,599)
Net current assets
55,252 
31,195 
Total assets less current liabilities
66,986 
46,739 
Creditors: amounts falling due after more than one year
(31,908)
(43,117)
Provisions for liabilities
Deferred tax
(2,230)
(2,953)
Net assets
32,848 
669 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
32,748 
569 
Shareholders' funds
32,848 
669 
For the year ending 31 March 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 14 July 2023 and were signed on its behalf by
Antony Jackson Director Company Registration No. 10293893
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Floortech Installations Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Floortech Installations Ltd is a private company, limited by shares, registered in England and Wales, registration number 10293893. The registered office is 136 Hall Street, Stockport, Greater Manchester, SK1 4HE.
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
Presentation currency
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or services. i) Sale of goods Turnover from the sale of goods are recognised when significant risks and rewards of ownership have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company. ii) Rendering of services 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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.
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
25% Straight Line
Motor vehicles
20% Reducing Balance
Computer equipment
25% Straight Line
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Floortech Installations Ltd Notes to the Accounts for the year ended 31 March 2023
Taxation
Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively. Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.
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.
Going concern
The company has considerable financial resources together with contracts with a number of clients. The directors believes that the company is well placed to manage its business risks successfully. After making enquiries, the directors have reasonable expectations that the company has adequate resources to continue in operational existence for a period of at least twelve months and for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2022
596 
20,200 
6,849 
27,645 
At 31 March 2023
596 
20,200 
6,849 
27,645 
Depreciation
At 1 April 2022
117 
7,077 
4,907 
12,101 
Charge for the year
148 
2,625 
1,037 
3,810 
At 31 March 2023
265 
9,702 
5,944 
15,911 
Net book value
At 31 March 2023
331 
10,498 
905 
11,734 
At 31 March 2022
479 
13,123 
1,942 
15,544 
5
Inventories
2023 
2022 
£ 
£ 
Finished goods
2,000 
2,000 
2,000 
2,000 
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Floortech Installations Ltd Notes to the Accounts for the year ended 31 March 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
4,593 
Trade debtors
49,010 
28,831 
Accrued income and prepayments
367 
828 
Other debtors
51,865 
38,847 
101,242 
73,099 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
11,534 
9,954 
Trade creditors
8,763 
17,455 
Taxes and social security
27,845 
16,040 
Accruals
2,546 
2,150 
50,688 
45,599 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
31,908 
43,117 
9
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
2,230 
2,953 
2023 
2022 
£ 
£ 
Provision at start of year
2,953 
3,372 
Credited to the profit and loss account
(723)
(419)
Provision at end of year
2,230 
2,953 
10
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
11
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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