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REGISTERED NUMBER: 06082640 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

KING OF FLOORING LTD

KING OF FLOORING LTD (REGISTERED NUMBER: 06082640)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KING OF FLOORING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: G King
Mrs D King





SECRETARY: Mrs D King





REGISTERED OFFICE: Unit 10 St Davids Square
Fengate
Peterborough
PE1 5QA





REGISTERED NUMBER: 06082640 (England and Wales)





ACCOUNTANTS: GreenStones Limited
9 Commerce Road
Lynchwood
Peterborough
Cambridgeshire
PE2 6LR

KING OF FLOORING LTD (REGISTERED NUMBER: 06082640)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,262 1,428
Tangible assets 5 84,371 40,135
85,633 41,563

CURRENT ASSETS
Stocks 5,000 7,000
Debtors 6 77,620 68,142
Cash at bank 91,287 122,038
173,907 197,180
CREDITORS
Amounts falling due within one
year

7

50,294

69,089
NET CURRENT ASSETS 123,613 128,091
TOTAL ASSETS LESS CURRENT
LIABILITIES

209,246

169,654

CREDITORS
Amounts falling due after more
than one year

8

(46,186

)

-

PROVISIONS FOR LIABILITIES (7,239 ) (7,684 )
NET ASSETS 155,821 161,970

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 155,721 161,870
155,821 161,970

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

KING OF FLOORING LTD (REGISTERED NUMBER: 06082640)

BALANCE SHEET - continued
31 MARCH 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:





G King - Director


KING OF FLOORING LTD (REGISTERED NUMBER: 06082640)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

King Of Flooring Ltd 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


KING OF FLOORING LTD (REGISTERED NUMBER: 06082640)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 9 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 1,663
AMORTISATION
At 1 April 2022 235
Charge for year 166
At 31 March 2023 401
NET BOOK VALUE
At 31 March 2023 1,262
At 31 March 2022 1,428

KING OF FLOORING LTD (REGISTERED NUMBER: 06082640)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 18,048 2,636 140,928 11,352 172,964
Additions 158 - 57,682 1,624 59,464
Disposals (7,978 ) (1,968 ) - (3,046 ) (12,992 )
At 31 March 2023 10,228 668 198,610 9,930 219,436
DEPRECIATION
At 1 April 2022 12,609 2,028 113,423 4,769 132,829
Charge for year 672 40 10,464 1,010 12,186
Eliminated on disposal (6,074 ) (1,626 ) - (2,250 ) (9,950 )
At 31 March 2023 7,207 442 123,887 3,529 135,065
NET BOOK VALUE
At 31 March 2023 3,021 226 74,723 6,401 84,371
At 31 March 2022 5,439 608 27,505 6,583 40,135

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 56,850
At 31 March 2023 56,850
DEPRECIATION
Charge for year 3,553
At 31 March 2023 3,553
NET BOOK VALUE
At 31 March 2023 53,297

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 66,872 52,173
Other debtors 10,748 15,969
77,620 68,142

KING OF FLOORING LTD (REGISTERED NUMBER: 06082640)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 6,638 -
Trade creditors 16,219 30,742
Taxation and social security 21,508 36,758
Other creditors 5,929 1,589
50,294 69,089

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Hire purchase contracts 46,186 -

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
G King and Mrs D King
Balance outstanding at start of year (325 ) (104 )
Amounts advanced 92,790 94,822
Amounts repaid (96,181 ) (95,043 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,716 ) (325 )