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REGISTERED NUMBER: 06811163 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

M & M FLOORING SPECIALISTS LIMITED

M & M FLOORING SPECIALISTS LIMITED (REGISTERED NUMBER: 06811163)

ABRIDGED BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 21,456 12,644
21,457 12,645

CURRENT ASSETS
Stocks 3,104 2,547
Debtors 178,552 109,213
Cash at bank 40,859 78,331
222,515 190,091
CREDITORS
Amounts falling due within one year 78,434 72,592
NET CURRENT ASSETS 144,081 117,499
TOTAL ASSETS LESS CURRENT
LIABILITIES

165,538

130,144

PROVISIONS FOR LIABILITIES 4,077 2,403
NET ASSETS 161,461 127,741

RESERVES
Called up share capital 2 2
Retained earnings 161,459 127,739
SHAREHOLDERS' FUNDS 161,461 127,741

M & M FLOORING SPECIALISTS LIMITED (REGISTERED NUMBER: 06811163)

ABRIDGED BALANCE SHEET - continued
31 March 2023


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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 2 November 2023 and were signed on its behalf by:





M Dickerson - Director


M & M FLOORING SPECIALISTS LIMITED (REGISTERED NUMBER: 06811163)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

M & M Flooring Specialists Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 06811163 and the registered office is 3 Bernard Close, Rackheath, Norwich, Norfolk, NR13 6QS.

The presentation currency of the financial statements is sterling (£).

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 comprises the value of goods and services invoiced to customers less returns after deducting trade and other discounts and excluding value added tax.

Goodwill
Goodwill is determined by comparing the amount paid on the acquisition of a business and the aggregate fair value of its separable net assets, and is written off over five years being its estimated economic life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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.


M & M FLOORING SPECIALISTS LIMITED (REGISTERED NUMBER: 06811163)

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 100,000
AMORTISATION
At 1 April 2022
and 31 March 2023 99,999
NET BOOK VALUE

At 31 March 2023 1
At 31 March 2022 1

M & M FLOORING SPECIALISTS LIMITED (REGISTERED NUMBER: 06811163)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 45,305
Additions 14,840
At 31 March 2023 60,145
DEPRECIATION
At 1 April 2022 32,661
Charge for year 6,028
At 31 March 2023 38,689
NET BOOK VALUE
At 31 March 2023 21,456
At 31 March 2022 12,644

6. LEASING AGREEMENTS
The total amount of operating lease commitments at the balance sheet date was £40,822 (2022 £3,365).

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company operates current accounts with its directors. The total debit balance on these current accounts at 31 March 2023 was £50,340 (2022 £19,731). The maximum debit balance during the year was £50,831 (2022 £19,731).

Interest is calculated at HM Revenue & Customs official rates.

Directors current accounts are unsecured and repayable on demand.