Company Registration No. 04637690 (England and Wales)
WOOD FLOORING SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
WOOD FLOORING SERVICES LIMITED
COMPANY INFORMATION
Director
S R Follington
Secretary
B A Mellett
Company number
04637690
Registered office
19-21 Swan Street
West Malling
Kent
ME19 6JU
Accountants
Perrys Accountants Limited
Chartered Accountants
The Square
Wrotham
Sevenoaks
Kent
TN15 7AA
WOOD FLOORING SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
WOOD FLOORING SERVICES LIMITED (REGISTERED NUMBER: 04637690)
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
49,807
54,189
Current assets
Debtors
4
135,927
99,498
Cash at bank and in hand
70,406
22,139
206,333
121,637
Creditors: amounts falling due within one year
5
(71,999)
(58,741)
Net current assets
134,334
62,896
Total assets less current liabilities
184,141
117,085
Creditors: amounts falling due after more than one year
6
(3,074)
Provisions for liabilities
(11,844)
(11,999)
Net assets
172,297
102,012
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
172,197
101,912
Total equity
172,297
102,012
The director of the company has 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 director acknowledges his 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.
WOOD FLOORING SERVICES LIMITED (REGISTERED NUMBER: 04637690)
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 18 October 2023
S R Follington
Director
WOOD FLOORING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information
Wood Flooring Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19-21 Swan Street, West Malling, Kent, ME19 6JU.
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.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
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
Computer 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.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
WOOD FLOORING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.5
Hire purchase
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or lease term, whichever is the shorter.
The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.
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
WOOD FLOORING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2022
33,250
2,962
6,579
62,722
105,513
Additions
7,492
2,673
10,165
At 31 March 2023
40,742
2,962
9,252
62,722
115,678
Depreciation and impairment
At 1 April 2022
16,745
2,814
2,290
29,475
51,324
Depreciation charged in the year
4,983
37
1,215
8,312
14,547
At 31 March 2023
21,728
2,851
3,505
37,787
65,871
Carrying amount
At 31 March 2023
19,014
111
5,747
24,935
49,807
At 31 March 2022
16,505
148
4,289
33,247
54,189
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
134,390
95,279
Other debtors
1,537
4,219
135,927
99,498
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,710
5,500
Taxation and social security
31,899
10,807
Other creditors
38,390
42,434
71,999
58,741
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
3,074
WOOD FLOORING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
80
80
80
80
Ordinary B of £1 each
20
20
20
20
100
100
100
100