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REGISTERED NUMBER: 07950530 (England and Wales)















BARLOWS FLOORING LIMITED
TRADING AS
FLOOR FACTORY

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






BARLOWS FLOORING LIMITED (REGISTERED NUMBER: 07950530)
TRADING AS FLOOR FACTORY

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 28 February 2023










Page

Abridged Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 5


BARLOWS FLOORING LIMITED (REGISTERED NUMBER: 07950530)
TRADING AS FLOOR FACTORY

ABRIDGED BALANCE SHEET
28 February 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 129,162 138,877

CURRENT ASSETS
Stocks 15,351 12,274
Debtors 85,139 7,252
Cash at bank and in hand 181,083 260,760
281,573 280,286
CREDITORS
Amounts falling due within one year (107,012 ) (164,778 )
NET CURRENT ASSETS 174,561 115,508
TOTAL ASSETS LESS CURRENT
LIABILITIES

303,723

254,385

PROVISIONS FOR LIABILITIES (29,707 ) (26,387 )
NET ASSETS 274,016 227,998

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 50 50
Retained earnings 273,866 227,848
SHAREHOLDERS' FUNDS 274,016 227,998

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

BARLOWS FLOORING LIMITED (REGISTERED NUMBER: 07950530)
TRADING AS FLOOR FACTORY

ABRIDGED BALANCE SHEET - continued
28 February 2023


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 28 February 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 11 November 2023 and were signed on its behalf by:




Mr J Barlow - Director



Mrs B V Barlow - Director


BARLOWS FLOORING LIMITED (REGISTERED NUMBER: 07950530)
TRADING AS FLOOR FACTORY

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 28 February 2023


1. STATUTORY INFORMATION

Barlows Flooring Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07950530

Registered office: Bentley Bridge House
Chesterfield Road
Matlock
Derbyshire
DE4 5LE

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.

The financial statements have been prepared on the going concern basis. No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 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.


BARLOWS FLOORING LIMITED (REGISTERED NUMBER: 07950530)
TRADING AS FLOOR FACTORY

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 28 February 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on as incurred over the lease term.

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 11 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2022 222,100
Additions 16,751
At 28 February 2023 238,851
DEPRECIATION
At 1 March 2022 83,223
Charge for year 26,466
At 28 February 2023 109,689
NET BOOK VALUE
At 28 February 2023 129,162
At 28 February 2022 138,877

BARLOWS FLOORING LIMITED (REGISTERED NUMBER: 07950530)
TRADING AS FLOOR FACTORY

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 28 February 2023


5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year a loan was made to the directors totalling £80,000. Interest is charged on the loan at a rate of 2%. The outstanding loan balance including interest at the year end is £80,460. The loan is repayable on demand.

6. RELATED PARTY DISCLOSURES

There have been no material transactions that have not been concluded under normal market conditions with any related parties.

7. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors, by virtue of their shareholdings.