IRIS Accounts Production v23.3.0.418 07748801 director 1.3.22 28.2.23 28.2.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh077488012022-02-28077488012023-02-28077488012022-03-012023-02-28077488012021-02-28077488012021-03-012022-02-28077488012022-02-2807748801ns10:Originalns15:EnglandWales2022-03-012023-02-2807748801ns14:PoundSterlingns10:Original2022-03-012023-02-2807748801ns10:Originalns10:Director12022-03-012023-02-2807748801ns10:Original2022-03-012023-02-2807748801ns10:Original2023-02-2807748801ns10:Originalns10:PrivateLimitedCompanyLtd2022-03-012023-02-2807748801ns10:Originalns10:SmallEntities2022-03-012023-02-2807748801ns10:Originalns10:AuditExempt-NoAccountantsReport2022-03-012023-02-2807748801ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2807748801ns10:SmallCompaniesRegimeForAccountsns10:Original2022-03-012023-02-2807748801ns10:Originalns10:FullAccounts2022-03-012023-02-2807748801ns10:Originalns10:OrdinaryShareClass12022-03-012023-02-2807748801ns10:Originalns10:RegisteredOffice2022-03-012023-02-2807748801ns10:Original2022-02-2807748801ns10:Originalns5:CurrentFinancialInstruments2023-02-2807748801ns10:Originalns5:CurrentFinancialInstruments2022-02-2807748801ns10:Originalns5:Non-currentFinancialInstruments2023-02-2807748801ns10:Originalns5:Non-currentFinancialInstruments2022-02-2807748801ns5:ShareCapitalns10:Original2023-02-2807748801ns5:ShareCapitalns10:Original2022-02-2807748801ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-02-2807748801ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-02-2807748801ns10:Originalns5:FurnitureFittings2022-03-012023-02-2807748801ns10:Originalns5:MotorVehicles2022-03-012023-02-2807748801ns10:Originalns5:ComputerEquipment2022-03-012023-02-2807748801ns10:Original2021-03-012022-02-2807748801ns10:Originalns5:FurnitureFittings2022-02-2807748801ns10:Originalns5:MotorVehicles2022-02-2807748801ns10:Originalns5:ComputerEquipment2022-02-2807748801ns10:Original2022-02-2807748801ns10:Originalns5:FurnitureFittings2023-02-2807748801ns10:Originalns5:MotorVehicles2023-02-2807748801ns10:Originalns5:ComputerEquipment2023-02-2807748801ns10:Originalns5:FurnitureFittings2022-02-2807748801ns10:Originalns5:MotorVehicles2022-02-2807748801ns10:Originalns5:ComputerEquipment2022-02-2807748801ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2807748801ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-02-2807748801ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-02-2807748801ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-02-2807748801ns10:Originalns5:HirePurchaseContractsns5:WithinOneYear2023-02-2807748801ns10:Originalns5:HirePurchaseContractsns5:WithinOneYear2022-02-2807748801ns5:BetweenOneFiveYearsns10:Originalns5:HirePurchaseContracts2023-02-2807748801ns5:BetweenOneFiveYearsns10:Originalns5:HirePurchaseContracts2022-02-2807748801ns10:Originalns5:HirePurchaseContracts2023-02-2807748801ns10:Originalns5:HirePurchaseContracts2022-02-2807748801ns10:Originalns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2807748801ns10:Originalns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-02-2807748801ns10:Originalns10:OrdinaryShareClass12023-02-28
REGISTERED NUMBER: 07748801 (England and Wales)


















ASHBURN CARPETS LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023






ASHBURN CARPETS LTD (REGISTERED NUMBER: 07748801)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ASHBURN CARPETS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: M Lazar





REGISTERED OFFICE: 4 Ashburnham Road
Richmond
Surrey
TW10 7NF





REGISTERED NUMBER: 07748801 (England and Wales)





ACCOUNTANTS: Chanter, Browne & Curry
1 Plato Place
72-74 St Dionis Road
Fulham
London
SW6 4TU

ASHBURN CARPETS LTD (REGISTERED NUMBER: 07748801)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 40,873 64,682

CURRENT ASSETS
Stocks 5 635,240 578,543
Debtors 6 222,382 174,088
Cash at bank 490,938 207,064
1,348,560 959,695
CREDITORS
Amounts falling due within one year 7 553,903 413,149
NET CURRENT ASSETS 794,657 546,546
TOTAL ASSETS LESS CURRENT
LIABILITIES

835,530

611,228

CREDITORS
Amounts falling due after more than one
year

8

(32,500

)

(51,094

)

PROVISIONS FOR LIABILITIES (9,947 ) (14,306 )
NET ASSETS 793,083 545,828

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 792,983 545,728
SHAREHOLDERS' FUNDS 793,083 545,828

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 director acknowledges his 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 November 2023 and were signed by:





M Lazar - Director


ASHBURN CARPETS LTD (REGISTERED NUMBER: 07748801)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Ashburn Carpets Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

TURNOVER
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer & equipment - 25% on cost

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.

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.

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 9 (2022 - 7 ) .

ASHBURN CARPETS LTD (REGISTERED NUMBER: 07748801)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles & equipment Totals
£    £    £    £   
COST
At 1 March 2022 81,577 74,435 10,706 166,718
Additions 3,231 6,995 - 10,226
Disposals (3,050 ) - - (3,050 )
At 28 February 2023 81,758 81,430 10,706 173,894
DEPRECIATION
At 1 March 2022 51,181 44,241 6,614 102,036
Charge for year 18,849 11,898 1,763 32,510
Eliminated on disposal (1,525 ) - - (1,525 )
At 28 February 2023 68,505 56,139 8,377 133,021
NET BOOK VALUE
At 28 February 2023 13,253 25,291 2,329 40,873
At 28 February 2022 30,396 30,194 4,092 64,682

5. STOCKS
2023 2022
£    £   
Stocks 635,240 578,543

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 189,966 148,938
Other debtors 17,280 17,280
Prepayments 15,136 7,870
222,382 174,088

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 8,591 18,312
Trade creditors 398,483 269,860
Corporation Tax 80,891 56,425
Social security and other taxes 6,578 5,172
Pension payable 692 468
VAT 34,295 44,154
Other creditors 455 376
Director's loan account 4,501 4,500
Accrued expenses 19,417 13,882
553,903 413,149

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 32,500 42,500
Hire purchase contracts (see note 9) - 8,594
32,500 51,094

ASHBURN CARPETS LTD (REGISTERED NUMBER: 07748801)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Gross obligations repayable:
Within one year 9,705 20,660
Between one and five years - 9,708
9,705 30,368

Finance charges repayable:
Within one year 1,114 2,348
Between one and five years - 1,114
1,114 3,462

Net obligations repayable:
Within one year 8,591 18,312
Between one and five years - 8,594
8,591 26,906

The finance leases are secured on the assets concerned.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

11. OTHER FINANCIAL COMMITMENTS

At 28 February 2023 the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £459,027 (2022: £546,207).