Company registration number 06620799 (England and Wales)
JAMES & CO TOTAL FLOORING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
JAMES & CO TOTAL FLOORING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
JAMES & CO TOTAL FLOORING LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
19,768
26,359
Current assets
Stocks
22,000
21,000
Debtors
5
51,125
71,613
Cash at bank and in hand
19,787
15,660
92,912
108,273
Creditors: amounts falling due within one year
6
(43,394)
(56,440)
Net current assets
49,518
51,833
Total assets less current liabilities
69,286
78,192
Creditors: amounts falling due after more than one year
7
(22,500)
(32,500)
Provisions for liabilities
(4,942)
(6,590)
Net assets
41,844
39,102
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
41,744
39,002
Total equity
41,844
39,102

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

JAMES & CO TOTAL FLOORING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 31 May 2023 and are signed on its behalf by:
Mr L J James
Director
Company Registration No. 06620799
JAMES & CO TOTAL FLOORING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

James & Co Total Flooring Limited is a private company limited by shares incorporated in England and Wales. The registered office is Mentor House, Ainsworth Street, Blackburn, Lancashire, BB1 6AY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern

The directortrues are not aware of any material uncertainties affecting the company and consider that the company will have sufficient resources to continue trading for the foreseeable future. As a result the directors have continued to adopt the going concern basis in preparing the financial statements.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% Reducing balance
Fixtures, fittings & equipment
25% Reducing balance
Motor vehicles
25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

JAMES & CO TOTAL FLOORING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
7,500
Amortisation and impairment
At 1 April 2022 and 31 March 2023
7,500
Carrying amount
At 31 March 2023
-
0
At 31 March 2022
-
0
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2022 and 31 March 2023
849
7,676
31,198
39,723
Depreciation and impairment
At 1 April 2022
318
5,094
7,952
13,364
Depreciation charged in the year
133
646
5,812
6,591
At 31 March 2023
451
5,740
13,764
19,955
Carrying amount
At 31 March 2023
398
1,936
17,434
19,768
At 31 March 2022
531
2,582
23,246
26,359
JAMES & CO TOTAL FLOORING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
27,252
61,657
Other debtors
23,873
9,956
51,125
71,613

Other debtors comprises £18,232 CIS tax and SMP owed to the company (2022: £9,540)

6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,000
10,000
Trade creditors
9,825
17,195
Corporation tax
17,534
13,414
Other taxation and social security
-
0
10,972
Other creditors
2,833
2,099
Accruals and deferred income
3,202
2,760
43,394
56,440

Other creditors comprise interest free loans granted to the company by the directors of £2,833 (2022: £2,099).

7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
22,500
32,500
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of £1 each
50
50
50
50
B Ordinary shares of £1 each
50
50
50
50
100
100
100
100
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