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REGISTERED NUMBER: 07530589 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 March 2023

for

The Commercial Flooring Company
(Midlands) Limited

The Commercial Flooring Company
(Midlands) Limited (Registered number: 07530589)






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


The Commercial Flooring Company
(Midlands) Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: N J Ware
Mrs C M Ware
K Folley
K Tunaley
S M Leonard





SECRETARY: Mrs C M Ware





REGISTERED OFFICE: The Coach House, Dovecote Court
Pingle Lane
Potters Marston
Leicester
Leicestershire
LE9 3JR





REGISTERED NUMBER: 07530589 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

The Commercial Flooring Company
(Midlands) Limited (Registered number: 07530589)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 164,240 168,282

CURRENT ASSETS
Stocks 39,724 28,040
Debtors 5 3,101,553 2,525,194
Cash at bank 30,022 150,710
3,171,299 2,703,944
CREDITORS
Amounts falling due within one year 6 2,649,475 2,355,621
NET CURRENT ASSETS 521,824 348,323
TOTAL ASSETS LESS CURRENT
LIABILITIES

686,064

516,605

CREDITORS
Amounts falling due after more than one
year

7

(437,281

)

(294,640

)

PROVISIONS FOR LIABILITIES (4,390 ) -
NET ASSETS 244,393 221,965

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 244,293 221,865
SHAREHOLDERS' FUNDS 244,393 221,965

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 Commercial Flooring Company
(Midlands) Limited (Registered number: 07530589)

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 6 November 2023 and were signed on its behalf by:





N J Ware - Director


The Commercial Flooring Company
(Midlands) Limited (Registered number: 07530589)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

The Commercial Flooring Company (Midlands) 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Horses - 25% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

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.

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 41 (2022 - 34 ) .

The Commercial Flooring Company
(Midlands) Limited (Registered number: 07530589)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
Horses machinery fittings
£    £    £   
COST
At 1 April 2022 36,769 1,507 5,517
Additions - - 13,105
Disposals - - -
At 31 March 2023 36,769 1,507 18,622
DEPRECIATION
At 1 April 2022 14,892 989 5,517
Charge for year 9,192 129 4,324
Eliminated on disposal - - -
At 31 March 2023 24,084 1,118 9,841
NET BOOK VALUE
At 31 March 2023 12,685 389 8,781
At 31 March 2022 21,877 518 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 226,207 27,763 297,763
Additions 163,477 - 176,582
Disposals (191,047 ) - (191,047 )
At 31 March 2023 198,637 27,763 283,298
DEPRECIATION
At 1 April 2022 80,640 27,443 129,481
Charge for year 47,462 320 61,427
Eliminated on disposal (71,850 ) - (71,850 )
At 31 March 2023 56,252 27,763 119,058
NET BOOK VALUE
At 31 March 2023 142,385 - 164,240
At 31 March 2022 145,567 320 168,282

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,798,981 2,044,034
Amounts owed by group undertakings 16,652 -
Other debtors 5,423 6,888
Directors' loan accounts 9,931 19,748
VAT 137,691 99,620
Prepayments and accrued income 132,875 354,904
3,101,553 2,525,194

The Commercial Flooring Company
(Midlands) Limited (Registered number: 07530589)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 316,918 86,250
Hire purchase contracts 31,720 39,975
Trade creditors 1,131,592 1,295,847
Tax 64,483 35,000
Social security and other taxes 219,356 170,769
Other creditors 833,809 718,775
Accruals and deferred income 51,597 9,005
2,649,475 2,355,621

Included in other creditors is £833,809 (2022 - £718,775) due to Ultimate Finance Limited.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 164,377 86,250
Bank loans - 2-5 years 160,315 125,625
Hire purchase contracts 112,589 82,765
437,281 294,640

8. SECURED DEBTS

The company has given a fixed and floating charge over its assets in favour of Ultimate Finance Limited.

9. OTHER FINANCIAL COMMITMENTS

At 31 March 2023 the company had other financial commitments of £44,842 (2022 - £42,886).

10. 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
£    £   
N J Ware
Balance outstanding at start of year 19,748 18,729
Amounts advanced 65,133 136,676
Amounts repaid (74,950 ) (135,657 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,931 19,748

K Folley
Balance outstanding at start of year - 5,023
Amounts repaid - (5,023 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The Commercial Flooring Company
(Midlands) Limited (Registered number: 07530589)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

K Tunaley
Balance outstanding at start of year - 6,662
Amounts advanced - 379
Amounts repaid - (7,041 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

11. RELATED PARTY DISCLOSURES

At 31 March 2023 the company was owed £9,931 (2022 - £19,748) by the directors.

At the year end the company was owed £16,652 (2022 - £Nil) by The Commercial Tiling Company (Midlands) Limited.

12. ULTIMATE CONTROLLING PARTY

The controlling party is The De Mai Group Limited.