REGISTERED NUMBER: |
Contract Flooring & Interiors |
(C.F.I.) Limited |
Unaudited Financial Statements for the Year Ended 30th November 2022 |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 vehicles | 25% on cost |
Plant and equipment | 20% 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 |
4. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Office |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st December 2021 |
Additions |
At 30th November 2022 |
DEPRECIATION |
At 1st December 2021 |
Charge for year |
At 30th November 2022 |
NET BOOK VALUE |
At 30th November 2022 |
At 30th November 2021 |
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 |
DEPRECIATION |
At 1st December 2021 |
Charge for year |
At 30th November 2022 |
NET BOOK VALUE |
At 30th November 2022 |
At 30th November 2021 |
5. | STOCKS |
2022 | 2021 |
£ | £ |
Raw materials |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Amount recoverable on |
contracts |
Other debtors |
Tax |
VAT |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 9) |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Directors' current accounts | 1 | 2,782 |
Accruals and deferred income |
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 |
Bank loans - 2-5 years |
Hire purchase contracts (see note 9) |
9. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase | contracts |
2022 | 2021 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable | operating leases |
2022 | 2021 |
£ | £ |
Within one year |
Between one and five years |
10. | PROVISIONS FOR LIABILITIES |
2022 | 2021 |
£ | £ |
Deferred tax | - | 22,543 |
Deferred |
tax |
£ |
Balance at 1st December 2021 |
Provided during year | ( |
) |
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: | £ | £ |
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. |