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REGISTERED NUMBER: 05166844 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

DIRECT FLOORING SUPPLIERS LIMITED

DIRECT FLOORING SUPPLIERS LIMITED (REGISTERED NUMBER: 05166844)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DIRECT FLOORING SUPPLIERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: D Unna



SECRETARY: E L Unna



REGISTERED OFFICE: Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ



REGISTERED NUMBER: 05166844 (England and Wales)



ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ



BANKERS: HSBC Plc
63 Market Place
Beverley
East Yorkshire
HU17 8AL

DIRECT FLOORING SUPPLIERS LIMITED (REGISTERED NUMBER: 05166844)

BALANCE SHEET
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 128,594 151,361

CURRENT ASSETS
Stocks 27,598 22,998
Debtors 5 188,781 350,417
Cash at bank 17,362 7,017
233,741 380,432
CREDITORS
Amounts falling due within one year 6 120,868 136,915
NET CURRENT ASSETS 112,873 243,517
TOTAL ASSETS LESS CURRENT
LIABILITIES

241,467

394,878

CREDITORS
Amounts falling due after more than one
year

7

(180,709

)

(250,316

)

PROVISIONS FOR LIABILITIES (21,513 ) (25,731 )
NET ASSETS 39,245 118,831

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 39,145 118,731
SHAREHOLDERS' FUNDS 39,245 118,831

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

DIRECT FLOORING SUPPLIERS LIMITED (REGISTERED NUMBER: 05166844)

BALANCE SHEET - continued
30 JUNE 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 March 2024 and were signed by:





D Unna - Director


DIRECT FLOORING SUPPLIERS LIMITED (REGISTERED NUMBER: 05166844)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Direct Flooring Suppliers Limited 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on cost
Office Equipment - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 Statement of Income and Retained Earnings, 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.

DIRECT FLOORING SUPPLIERS LIMITED (REGISTERED NUMBER: 05166844)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and Office and
machinery Equipment fittings
£    £    £   
COST
At 1 July 2022 - 13,902 25,081
Additions 17,500 - -
Disposals - - -
At 30 June 2023 17,500 13,902 25,081
DEPRECIATION
At 1 July 2022 - 10,865 11,872
Charge for year 4,375 759 3,303
Eliminated on disposal - - -
At 30 June 2023 4,375 11,624 15,175
NET BOOK VALUE
At 30 June 2023 13,125 2,278 9,906
At 30 June 2022 - 3,037 13,209

DIRECT FLOORING SUPPLIERS LIMITED (REGISTERED NUMBER: 05166844)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 220,170 15,878 275,031
Additions - 5,888 23,388
Disposals (21,400 ) - (21,400 )
At 30 June 2023 198,770 21,766 277,019
DEPRECIATION
At 1 July 2022 89,495 11,438 123,670
Charge for year 31,954 2,908 43,299
Eliminated on disposal (18,544 ) - (18,544 )
At 30 June 2023 102,905 14,346 148,425
NET BOOK VALUE
At 30 June 2023 95,865 7,420 128,594
At 30 June 2022 130,675 4,440 151,361

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2022
and 30 June 2023 173,678
DEPRECIATION
At 1 July 2022 53,682
Charge for year 29,999
At 30 June 2023 83,681
NET BOOK VALUE
At 30 June 2023 89,997
At 30 June 2022 119,996

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 96,357 167,301
Other debtors 85,074 179,053
Corporation tax recoverable 3,790 -
Prepayments and accrued income 3,560 4,063
188,781 350,417

DIRECT FLOORING SUPPLIERS LIMITED (REGISTERED NUMBER: 05166844)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 39,754 28,800
Hire purchase contracts 26,956 21,422
Trade creditors 37,269 42,475
Corporation tax - 22,055
Social security and other taxes 3,732 2,462
VAT 10,527 14,747
Other creditors 205 487
Directors' current accounts 267 1,847
Accrued expenses 2,158 2,620
120,868 136,915

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans - 1-2 years 39,754 29,336
Bank loans - 2-5 years 39,754 90,082
Bank loans more 5 yr by instal 30,415 33,732
Hire purchase contracts 70,786 97,166
180,709 250,316

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 30,415 33,732

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank loans 149,677 181,950

9. RELATED PARTY DISCLOSURES

The company is controlled by D Unna.