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NORTHUMBRIA FLOORING LIMITED

Registered Number
09458678
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

NORTHUMBRIA FLOORING LIMITED
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

CONNOR, Michael
CUNNINGHAM, James Neil

Registered Address

8 Segedunum Business Centre
Station Road
Wallsend
NE28 6HQ

Registered Number

09458678 (England and Wales)
NORTHUMBRIA FLOORING LIMITED
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets519,17711,393
19,17711,393
Current assets
Stocks653,50060,000
Debtors747,66740,849
Cash at bank and on hand57,93435,690
159,101136,539
Creditors amounts falling due within one year8(177,996)(137,107)
Net current assets (liabilities)(18,895)(568)
Total assets less current liabilities28210,825
Net assets28210,825
Capital and reserves
Called up share capital100100
Profit and loss account18210,725
Shareholders' funds28210,825
The financial statements were approved and authorised for issue by the Board of Directors on 27 November 2023, and are signed on its behalf by:
CUNNINGHAM, James Neil
Director
Registered Company No. 09458678
NORTHUMBRIA FLOORING LIMITED
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings15
Vehicles20
Office Equipment25
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year66
5.Property, plant and equipment

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 March 228,8298,7422,57520,146
Additions10,0001,688-11,688
At 28 February 2318,82910,4302,57531,834
Depreciation and impairment
At 01 March 221,5824,0403,1318,753
Charge for year2,8068502483,904
At 28 February 234,3884,8903,37912,657
Net book value
At 28 February 2314,4415,540(804)19,177
At 28 February 227,2474,702(556)11,393
6.Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2023

2022

££
Finished goods53,50060,000
Total53,50060,000
7.Debtors

2023

2022

££
Trade debtors / trade receivables32,87332,873
Amounts owed by associates and joint ventures / participating interests6,000-
Other debtors8,7947,976
Total47,66740,849
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables91,37078,982
Bank borrowings and overdrafts31,57642,543
Amounts owed to related parties446-
Taxation and social security35,59713,981
Other creditors19,0071,601
Total177,996137,107
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.