Silverfin false 31/03/2023 01/04/2022 31/03/2023 P F Chivers 18/11/2010 R I Chivers 18/11/2010 21 November 2023 The principal activity of the Company during the financial year was that of floor and wall covering. 07444031 2023-03-31 07444031 bus:Director1 2023-03-31 07444031 bus:Director2 2023-03-31 07444031 2022-03-31 07444031 core:CurrentFinancialInstruments 2023-03-31 07444031 core:CurrentFinancialInstruments 2022-03-31 07444031 core:Non-currentFinancialInstruments 2023-03-31 07444031 core:Non-currentFinancialInstruments 2022-03-31 07444031 core:ShareCapital 2023-03-31 07444031 core:ShareCapital 2022-03-31 07444031 core:RetainedEarningsAccumulatedLosses 2023-03-31 07444031 core:RetainedEarningsAccumulatedLosses 2022-03-31 07444031 core:PlantMachinery 2022-03-31 07444031 core:Vehicles 2022-03-31 07444031 core:OfficeEquipment 2022-03-31 07444031 core:PlantMachinery 2023-03-31 07444031 core:Vehicles 2023-03-31 07444031 core:OfficeEquipment 2023-03-31 07444031 core:CurrentFinancialInstruments 1 2023-03-31 07444031 core:CurrentFinancialInstruments 1 2022-03-31 07444031 2022-04-01 2023-03-31 07444031 bus:FullAccounts 2022-04-01 2023-03-31 07444031 bus:SmallEntities 2022-04-01 2023-03-31 07444031 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07444031 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07444031 bus:Director1 2022-04-01 2023-03-31 07444031 bus:Director2 2022-04-01 2023-03-31 07444031 core:PlantMachinery 2022-04-01 2023-03-31 07444031 core:Vehicles 2022-04-01 2023-03-31 07444031 core:OfficeEquipment 2022-04-01 2023-03-31 07444031 2021-04-01 2022-03-31 07444031 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 07444031 (England and Wales)

CHIVERS FLOORING LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

CHIVERS FLOORING LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

CHIVERS FLOORING LIMITED

BALANCE SHEET

As at 31 March 2023
CHIVERS FLOORING LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 27,850 36,511
27,850 36,511
Current assets
Stocks 350 465
Debtors 4 9,266 10,763
Cash at bank and in hand 37,559 45,713
47,175 56,941
Creditors: amounts falling due within one year 5 ( 36,467) ( 37,257)
Net current assets 10,708 19,684
Total assets less current liabilities 38,558 56,195
Creditors: amounts falling due after more than one year 6 ( 28,047) ( 38,352)
Net assets 10,511 17,843
Capital and reserves
Called-up share capital 13 13
Profit and loss account 10,498 17,830
Total shareholders' funds 10,511 17,843

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

Directors' responsibilities:

The financial statements of Chivers Flooring Limited (registered number: 07444031) were approved and authorised for issue by the Board of Directors on 21 November 2023. They were signed on its behalf by:

P F Chivers
Director
CHIVERS FLOORING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
CHIVERS FLOORING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Chivers Flooring Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 April 2022 0 64,566 2,118 66,684
Additions 373 0 183 556
At 31 March 2023 373 64,566 2,301 67,240
Accumulated depreciation
At 01 April 2022 0 28,248 1,925 30,173
Charge for the financial year 70 9,080 67 9,217
At 31 March 2023 70 37,328 1,992 39,390
Net book value
At 31 March 2023 303 27,238 309 27,850
At 31 March 2022 0 36,318 193 36,511

4. Debtors

2023 2022
£ £
Trade debtors 2,579 5,459
Amounts owed by directors 1,421 0
Prepayments 1,046 1,084
Corporation tax 4,220 4,220
9,266 10,763

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 6,000 5,000
Trade creditors 2,722 9,561
Amounts owed to directors 0 632
Accruals 1,250 1,060
Deferred tax liability 6,963 0
Taxation and social security 15,828 18,031
Obligations under finance leases and hire purchase contracts 3,458 2,973
Other creditors 246 0
36,467 37,257

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 13,500 20,500
Obligations under finance leases and hire purchase contracts 14,547 17,852
28,047 38,352

There are no amounts included above in respect of which any security has been given by the small entity.

7. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Key Management 1,422 0

No interest has been charged on the overdrawn loan account.