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REGISTERED NUMBER: 05592826 (England and Wales)


















Contract Flooring & Interiors
(C.F.I.) Limited

Unaudited Financial Statements for the Year Ended 30th November 2022






Contract Flooring & Interiors
(C.F.I.) Limited (Registered number: 05592826)






Contents of the Financial Statements
for the year ended 30th November 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Contract Flooring & Interiors
(C.F.I.) Limited

Company Information
for the year ended 30th November 2022







DIRECTORS: C Edwards
R Watson
M York





SECRETARY: C Edwards





REGISTERED OFFICE: Premier House
16 Henry Boot Way
Priory Park East
Hull
East Yorkshire
HU4 7DY





REGISTERED NUMBER: 05592826 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire HU2 8BA

Contract Flooring & Interiors
(C.F.I.) Limited (Registered number: 05592826)

Balance Sheet
30th November 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59,505 89,520

CURRENT ASSETS
Stocks 5 31,486 31,486
Debtors 6 1,107,923 1,063,129
1,139,409 1,094,615
CREDITORS
Amounts falling due within one year 7 759,085 586,971
NET CURRENT ASSETS 380,324 507,644
TOTAL ASSETS LESS CURRENT
LIABILITIES

439,829

597,164

CREDITORS
Amounts falling due after more than one
year

8

(53,922

)

(82,025

)

PROVISIONS FOR LIABILITIES 10 - (22,543 )
NET ASSETS 385,907 492,596

CAPITAL AND RESERVES
Called up share capital 11 30,000 30,000
Share premium 286,715 286,715
Retained earnings 69,192 175,881
SHAREHOLDERS' FUNDS 385,907 492,596

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2022 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.

Contract Flooring & Interiors
(C.F.I.) Limited (Registered number: 05592826)

Balance Sheet - continued
30th November 2022


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 19th October 2023 and were signed on its behalf by:





C Edwards - Director


Contract Flooring & Interiors
(C.F.I.) Limited (Registered number: 05592826)

Notes to the Financial Statements
for the year ended 30th November 2022

1. STATUTORY INFORMATION

Contract Flooring & Interiors (C.F.I.) Limited 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 the amount receivable, excluding value added tax, in the ordinary course of business for goods supplied as a principal and for services provided. In the case of contract work, turnover is calculated on the basis of the work executed during the year.

Tangible fixed assets
Depreciation is calculated to write down the original cost of assets acquired as part of the reorganisation and the cost of subsequent additions over their expected useful lives.

The rates generally applicable are:


Motor vehicles25% on cost
Plant and equipment20% to 50% on cost

Stocks
Stock and work in progress is stated at the lower of cost and net realisable value. Cost represents that expenditure which has been incurred in the normal course of business in bringing the product or service to its present location and condition.

In the case of work in progress cost consists of direct materials, direct labour and attributable overheads based on normal levels of activity.

Net realisable value means estimated selling price less all further costs to completion and all costs to be incurred in marketing, selling and distribution.

Contract work in progress included in debtors is stated at net realisable value. Cumulative turnover (i.e. the total turnover recorded in respect of the contract in the profit and loss account since inception of that contract) is compared with total invoices raised. If turnover exceeds invoices raised an "amount recoverable on contracts" is established and separately disclosed within debtors. If invoices raised are greater than turnover to date, the excess is classified within creditors.

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.


Contract Flooring & Interiors
(C.F.I.) Limited (Registered number: 05592826)

Notes to the Financial Statements - continued
for the year ended 30th November 2022

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 acquired under finance leases and hire purchase contracts are treated as fixed assets. The amount capitalised is the present value of the minimum lease payments payable during the lease term. Depreciation is charged to the profit and loss account in accordance with the normal depreciation policy.

The corresponding lease commitments are shown as liabilities. The interest element of rental obligations is charged to the profit and loss account over the period of the lease in proportion to the balance of capital repayment outstanding.

Pension costs and other post-retirement benefits
The company operates separate defined contribution pension schemes for its directors and employees. These are separately administered. The pension cost charge represents contributions payable by the company to these schemes.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2021 - 27 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st December 2021 58,872 150,202 39,222 248,296
Additions 8,495 - - 8,495
At 30th November 2022 67,367 150,202 39,222 256,791
DEPRECIATION
At 1st December 2021 44,294 75,260 39,222 158,776
Charge for year 7,486 31,024 - 38,510
At 30th November 2022 51,780 106,284 39,222 197,286
NET BOOK VALUE
At 30th November 2022 15,587 43,918 - 59,505
At 30th November 2021 14,578 74,942 - 89,520

Contract Flooring & Interiors
(C.F.I.) Limited (Registered number: 05592826)

Notes to the Financial Statements - continued
for the year ended 30th November 2022

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st December 2021
and 30th November 2022 115,894
DEPRECIATION
At 1st December 2021 44,376
Charge for year 27,600
At 30th November 2022 71,976
NET BOOK VALUE
At 30th November 2022 43,918
At 30th November 2021 71,518

5. STOCKS
2022 2021
£    £   
Raw materials 31,486 31,486

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 420,760 291,499
Amount recoverable on
contracts 149,952 241,250
Other debtors 493,211 478,787
Tax 6,247 6,342
VAT 20,434 16,636
Prepayments 17,319 28,615
1,107,923 1,063,129

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 134,325 132,044
Hire purchase contracts (see note 9) 26,692 26,525
Trade creditors 318,900 231,455
Tax - 95
Social security and other taxes 115,534 23,396
Other creditors 160,043 154,791
Directors' current accounts 1 2,782
Accruals and deferred income 3,590 15,883
759,085 586,971

Contract Flooring & Interiors
(C.F.I.) Limited (Registered number: 05592826)

Notes to the Financial Statements - continued
for the year ended 30th November 2022

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans - 1-2 years 10,034 10,648
Bank loans - 2-5 years 18,815 26,928
Hire purchase contracts (see note 9) 25,073 44,449
53,922 82,025

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2022 2021
£    £   
Net obligations repayable:
Within one year 26,692 26,525
Between one and five years 25,073 44,449
51,765 70,974

Non-cancellable operating leases
2022 2021
£    £   
Within one year 52,108 47,674
Between one and five years 41,000 15,776
93,108 63,450

10. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax - 22,543

Deferred
tax
£   
Balance at 1st December 2021 22,543
Provided during year (22,543 )
Balance at 30th November 2022 -

Contract Flooring & Interiors
(C.F.I.) Limited (Registered number: 05592826)

Notes to the Financial Statements - continued
for the year ended 30th November 2022

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
30,000 Ordinary £1 30,000 30,000

12. PENSION COMMITMENTS

The company operates defined contribution schemes for its directors and employees which are separately administered. The charge to the profit and loss account for the year in respect of these schemes amounted to £8,999 (2021 £44,416). There was £3,218 (2021 £2,218) outstanding as at 30th November 2022.

13. ULTIMATE CONTROLLING PARTY

The company was controlled throughout the period by Mr. J. C. Needler. Since the year end the company has been acquired by a company controlled by C Edwards, R Watson, M George and J Needler.