Company Registration No. 06116411 (England and Wales)
PW FLOORING SOLUTIONS LTD
Unaudited accounts
for the year ended 28 February 2023
PW FLOORING SOLUTIONS LTD
Unaudited accounts
Contents
PW FLOORING SOLUTIONS LTD
Company Information
for the year ended 28 February 2023
Company Number
06116411 (England and Wales)
Registered Office
9 cannon park road
middlesbrough
ts1 5jp
Accountants
H E Warters Accountancy Services
7 Sir Douglas Park
Thornaby
TS17 0JY
PW FLOORING SOLUTIONS LTD
Statement of financial position
as at 28 February 2023
Tangible assets
26,216
33,529
Inventories
86,805
119,714
Cash at bank and in hand
58,538
71,795
Creditors: amounts falling due within one year
(153,109)
(146,073)
Net current assets
7,180
68,536
Total assets less current liabilities
33,396
102,065
Creditors: amounts falling due after more than one year
(32,444)
(67,974)
Capital redemption reserve
29,508
29,508
Profit and loss account
(28,556)
4,583
Shareholders' funds
952
34,091
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 November 2023 and were signed on its behalf by
Paul Warters
Director
Company Registration No. 06116411
PW FLOORING SOLUTIONS LTD
Notes to the Accounts
for the year ended 28 February 2023
PW FLOORING SOLUTIONS LTD is a private company, limited by shares, registered in England and Wales, registration number 06116411. The registered office is 9 cannon park road, middlesbrough, ts1 5jp.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
20% Reducing Balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
PW FLOORING SOLUTIONS LTD
Notes to the Accounts
for the year ended 28 February 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 March 2022
27,043
20,475
29,002
19,527
96,047
At 28 February 2023
27,043
20,475
29,002
19,527
96,047
At 1 March 2022
24,123
5,363
20,043
12,989
62,518
Charge for the year
2,149
3,779
829
556
7,313
At 28 February 2023
26,272
9,142
20,872
13,545
69,831
At 28 February 2023
771
11,333
8,130
5,982
26,216
At 28 February 2022
2,920
15,112
8,959
6,538
33,529
Amounts falling due within one year
Trade debtors
11,199
19,002
Accrued income and prepayments
3,747
4,098
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
3,116
2,598
Trade creditors
97,575
116,060
Taxes and social security
21,680
13,313
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
9,783
14,477
Other creditors
(56,189)
(43,729)
Loans from directors
20,000
20,000
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).