Registered number
10761912
AHM Flooring Ltd
Filleted Accounts
31 May 2022
AHM Flooring Ltd
Registered number: 10761912
Balance Sheet
as at 31 May 2022
Notes 2022 2021
£ £
Fixed assets
Intangible assets 3 51,000 54,400
Tangible assets 4 52,881 68,159
103,881 122,559
Current assets
Stocks 142,222 99,588
Debtors 5 350,823 311,729
Cash at bank and in hand 39,444 566,123
532,489 977,440
Creditors: amounts falling due within one year 6 (700,799) (1,037,831)
Net current liabilities (168,310) (60,391)
Total assets less current liabilities (64,429) 62,168
Creditors: amounts falling due after more than one year 7 (41,667) (50,000)
Net (liabilities)/assets (106,096) 12,168
Capital and reserves
Called up share capital 100 100
Profit and loss account (106,196) 12,068
Shareholder's funds (106,096) 12,168
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Nadeem Manzoor
Director
Approved by the board on 17 October 2023
AHM Flooring Ltd
Notes to the Accounts
for the year ended 31 May 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
Motor Vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 16 11
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2021 68,000
At 31 May 2022 68,000
Amortisation
At 1 June 2021 13,600
Provided during the year 3,400
At 31 May 2022 17,000
Net book value
At 31 May 2022 51,000
At 31 May 2021 54,400
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2021 37,646 76,354 114,000
Additions 1,033 - 1,033
At 31 May 2022 38,679 76,354 115,033
Depreciation
At 1 June 2021 18,948 26,893 45,841
Charge for the year 3,946 12,365 16,311
At 31 May 2022 22,894 39,258 62,152
Net book value
At 31 May 2022 15,785 37,096 52,881
At 31 May 2021 18,698 49,461 68,159
5 Debtors 2022 2021
£ £
Trade debtors 93,823 96,729
Other debtors 257,000 215,000
350,823 311,729
6 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 588,894 575,076
Taxation and social security costs 31,809 60,484
Other creditors 80,096 402,271
700,799 1,037,831
7 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 41,667 50,000
8 Other information
AHM Flooring Ltd is a private company limited by shares and incorporated in England. Its registered office is:
9-11 Heaton Road
Bradford
BD8 8QX
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