N. C. Flooring Limited 04634118 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is the provision of contract flooring services. Digita Accounts Production Advanced 6.30.9574.0 true true 04634118 2022-03-01 2023-02-28 04634118 2023-02-28 04634118 core:CurrentFinancialInstruments 2023-02-28 04634118 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 04634118 core:FurnitureFittingsToolsEquipment 2023-02-28 04634118 core:LandBuildings 2023-02-28 04634118 core:MotorVehicles 2023-02-28 04634118 bus:SmallEntities 2022-03-01 2023-02-28 04634118 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 04634118 bus:FullAccounts 2022-03-01 2023-02-28 04634118 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 04634118 bus:RegisteredOffice 2022-03-01 2023-02-28 04634118 bus:Director1 2022-03-01 2023-02-28 04634118 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 04634118 core:ComputerEquipment 2022-03-01 2023-02-28 04634118 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 04634118 core:LandBuildings 2022-03-01 2023-02-28 04634118 core:MotorVehicles 2022-03-01 2023-02-28 04634118 countries:EnglandWales 2022-03-01 2023-02-28 04634118 2022-02-28 04634118 core:FurnitureFittingsToolsEquipment 2022-02-28 04634118 core:LandBuildings 2022-02-28 04634118 core:MotorVehicles 2022-02-28 04634118 2021-03-01 2022-02-28 04634118 2022-02-28 04634118 core:CurrentFinancialInstruments 2022-02-28 04634118 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 04634118 core:FurnitureFittingsToolsEquipment 2022-02-28 04634118 core:LandBuildings 2022-02-28 04634118 core:MotorVehicles 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 04634118

N. C. Flooring Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

N. C. Flooring Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

N. C. Flooring Limited

(Registration number: 04634118)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

132,134

147,421

Current assets

 

Stocks

5

18,685

17,778

Debtors

6

134,045

112,930

Cash at bank and in hand

 

295,129

281,823

 

447,859

412,531

Creditors: Amounts falling due within one year

7

(49,800)

(35,691)

Net current assets

 

398,059

376,840

Total assets less current liabilities

 

530,193

524,261

Provisions for liabilities

(8,503)

(11,408)

Net assets

 

521,690

512,853

Capital and reserves

 

Called up share capital

100

100

Retained earnings

521,590

512,753

Shareholders' funds

 

521,690

512,853

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

N. C. Flooring Limited

(Registration number: 04634118)
Balance Sheet as at 28 February 2023

Approved and authorised by the Board on 29 September 2023 and signed on its behalf by:
 

.........................................
N M Cunningham
Director

 

N. C. Flooring Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
4 Marston Road
Frome
Somerset
BA11 4DA

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements, and is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

 

N. C. Flooring Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% on reducing balance

Tools and equipment

25% on reducing balance

Computer equipment

25% on cost

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business, and are recognised at the transaction price, less provision for impairment, which is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers, and are recognised initially at the transaction price.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2022 - 8).

 

N. C. Flooring Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2022

87,380

7,464

99,314

194,158

Additions

-

359

-

359

Disposals

-

-

(10,750)

(10,750)

At 28 February 2023

87,380

7,823

88,564

183,767

Depreciation

At 1 March 2022

-

6,308

40,429

46,737

Charge for the year

-

379

14,539

14,918

Eliminated on disposal

-

-

(10,022)

(10,022)

At 28 February 2023

-

6,687

44,946

51,633

Net book value

At 28 February 2023

87,380

1,136

43,618

132,134

At 28 February 2022

87,380

1,156

58,885

147,421

5

Stocks

2023
£

2022
£

Work in progress

-

6,265

Stock

18,685

11,513

18,685

17,778

6

Debtors

2023
£

2022
£

Trade debtors

128,520

94,225

Other debtors

1,653

15,144

Prepayments

3,872

3,561

134,045

112,930

 

N. C. Flooring Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

7

Creditors

Amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

25,137

27,000

Taxation and social security

3,766

4,373

Accruals and deferred income

4,244

3,883

Other creditors

442

435

Corporation tax

16,211

-

49,800

35,691