Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31136412The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-01falseNo description of principal activity12truetrue 01457707 2022-04-01 2023-03-31 01457707 2021-04-01 2022-03-31 01457707 2023-03-31 01457707 2022-03-31 01457707 2021-04-01 01457707 c:Director3 2022-04-01 2023-03-31 01457707 d:Buildings d:ShortLeaseholdAssets 2022-04-01 2023-03-31 01457707 d:Buildings d:ShortLeaseholdAssets 2023-03-31 01457707 d:Buildings d:ShortLeaseholdAssets 2022-03-31 01457707 d:PlantMachinery 2022-04-01 2023-03-31 01457707 d:PlantMachinery 2023-03-31 01457707 d:PlantMachinery 2022-03-31 01457707 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01457707 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 01457707 d:MotorVehicles 2022-04-01 2023-03-31 01457707 d:MotorVehicles 2023-03-31 01457707 d:MotorVehicles 2022-03-31 01457707 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01457707 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 01457707 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01457707 d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 01457707 d:CurrentFinancialInstruments 2023-03-31 01457707 d:CurrentFinancialInstruments 2022-03-31 01457707 d:Non-currentFinancialInstruments 2023-03-31 01457707 d:Non-currentFinancialInstruments 2022-03-31 01457707 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01457707 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 01457707 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 01457707 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 01457707 d:ShareCapital 2023-03-31 01457707 d:ShareCapital 2022-03-31 01457707 d:RetainedEarningsAccumulatedLosses 2023-03-31 01457707 d:RetainedEarningsAccumulatedLosses 2022-03-31 01457707 c:FRS102 2022-04-01 2023-03-31 01457707 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 01457707 c:FullAccounts 2022-04-01 2023-03-31 01457707 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 01457707 d:WithinOneYear 2023-03-31 01457707 d:WithinOneYear 2022-03-31 01457707 d:BetweenOneFiveYears 2023-03-31 01457707 d:BetweenOneFiveYears 2022-03-31 01457707 d:MoreThanFiveYears 2023-03-31 01457707 d:MoreThanFiveYears 2022-03-31 01457707 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 01457707 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 01457707 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 01457707 d:TaxLossesCarry-forwardsDeferredTax 2022-03-31 01457707 d:RetirementBenefitObligationsDeferredTax 2023-03-31 01457707 d:RetirementBenefitObligationsDeferredTax 2022-03-31 01457707 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 01457707 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 01457707










AIZLEWOODS FLOORING SPECIALISTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
AIZLEWOODS FLOORING SPECIALISTS LIMITED
REGISTERED NUMBER: 01457707

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
80,151
53,501

Current assets
  

Stocks
 5 
70,997
42,668

Debtors: amounts falling due within one year
 6 
224,269
206,400

Cash at bank and in hand
  
59,289
23,579

  
354,555
272,647

Creditors: amounts falling due within one year
 7 
(239,404)
(155,753)

Net current assets
  
 
 
115,151
 
 
116,894

Total assets less current liabilities
  
195,302
170,395

Creditors: amounts falling due after more than one year
 8 
(75,217)
(57,836)

Provisions for liabilities
  

Deferred tax
 9 
(9,503)
(7,768)

Net assets
  
110,582
104,791


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
110,482
104,691

  
110,582
104,791


Page 1

 
AIZLEWOODS FLOORING SPECIALISTS LIMITED
REGISTERED NUMBER: 01457707
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 November 2023.





J A Aizlewood
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
AIZLEWOODS FLOORING SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Aizlewoods Flooring Specialists Limited is a private limited Company limited by shares, incorporated in England and Wales (registered number: 01457707). Its registered office is 26 Bailey Street, Sheffield, South Yorkshire, S1 4EH. The principal activity of the Company throughout the year continued to be that of the supply and fitting of commercial and domestic flooring.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
AIZLEWOODS FLOORING SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

The depreciation rates used are:

S/Term leasehold property
-
5% straight line
Plant and machinery
-
10 - 20 % reducing balance
Motor vehicles
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
AIZLEWOODS FLOORING SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.7

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.8

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 5

 
AIZLEWOODS FLOORING SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 12).

Page 6

 
AIZLEWOODS FLOORING SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





S/Term leasehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost 


At 1 April 2022
31,198
56,041
28,695
115,934


Additions
-
1,802
39,436
41,238



At 31 March 2023

31,198
57,843
68,131
157,172



Depreciation


At 1 April 2022
8,759
43,689
9,985
62,433


Charge for the year on owned assets
1,364
1,952
125
3,441


Charge for the year on financed assets
-
-
11,147
11,147



At 31 March 2023

10,123
45,641
21,257
77,021



Net book value



At 31 March 2023
21,075
12,202
46,874
80,151



At 31 March 2022
22,439
12,352
18,710
53,501

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
46,500
18,210

Page 7

 
AIZLEWOODS FLOORING SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Stocks

2023
2022
£
£

Raw materials and consumables
68,913
42,668

Work in progress
2,084
-

70,997
42,668



6.


Debtors

2023
2022
£
£


Trade debtors
185,434
191,583

Other debtors
38,835
14,817

224,269
206,400



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
5,556
5,556

Trade creditors
124,380
70,132

Corporation tax
9,378
6,238

Other taxation and social security
7,699
5,638

Obligations under finance lease and hire purchase contracts
11,165
4,168

Other creditors
81,226
64,021

239,404
155,753


Included within creditors falling due within one year are secured liabilities in respect of net obligations under finance leases and hire purchase contracts of £11,165 (2022: £4,168). These are secured against the relevant assets.

Page 8

 
AIZLEWOODS FLOORING SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
36,573
42,130

Net obligations under finance leases and hire purchase contracts
38,644
15,706

75,217
57,836


Included within creditors fallign due after more than one year are secured liabilities in respect of net obligations under finance leases and hire purchase contracts of £38,644 (2022: £15,706). These are secured against the relevant assets.

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2023
2022
£
£


Repayable by instalments
14,351
19,908




9.


Deferred taxation




2023
2022


£

£






At beginning of year
7,768
5,059


Charged to profit or loss
1,735
2,709



At end of year
9,503
7,768

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
9,992
8,299

Tax losses carried forward
(444)
(485)

Pension surplus
(45)
(46)

9,503
7,768

Page 9

 
AIZLEWOODS FLOORING SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,787 (2022 - £5,973). Contributions totalling £226 (2022 - £231) were payable to the fund at the Balance Sheet date and are included in creditors.


11.


Commitments under operating leases

At 31 March 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
24,498
29,785

Later than 1 year and not later than 5 years
76,000
103,456

Later than 5 years
209,000
228,000

309,498
361,241

 
Page 10