Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr A C James 04/02/2013 Mrs J James 01/04/2022 29 March 2024 The principal activity of the Company during the financial year was that of the retail sale of carpets, rugs, wall and floor coverings. 08387251 2023-03-31 08387251 bus:Director1 2023-03-31 08387251 bus:Director2 2023-03-31 08387251 2022-03-31 08387251 core:CurrentFinancialInstruments 2023-03-31 08387251 core:CurrentFinancialInstruments 2022-03-31 08387251 core:Non-currentFinancialInstruments 2023-03-31 08387251 core:Non-currentFinancialInstruments 2022-03-31 08387251 core:ShareCapital 2023-03-31 08387251 core:ShareCapital 2022-03-31 08387251 core:RetainedEarningsAccumulatedLosses 2023-03-31 08387251 core:RetainedEarningsAccumulatedLosses 2022-03-31 08387251 core:Vehicles 2022-03-31 08387251 core:ComputerEquipment 2022-03-31 08387251 core:Vehicles 2023-03-31 08387251 core:ComputerEquipment 2023-03-31 08387251 core:CurrentFinancialInstruments 11 2023-03-31 08387251 core:CurrentFinancialInstruments 11 2022-03-31 08387251 2022-04-01 2023-03-31 08387251 bus:FullAccounts 2022-04-01 2023-03-31 08387251 bus:SmallEntities 2022-04-01 2023-03-31 08387251 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08387251 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08387251 bus:Director1 2022-04-01 2023-03-31 08387251 bus:Director2 2022-04-01 2023-03-31 08387251 core:Vehicles core:TopRangeValue 2022-04-01 2023-03-31 08387251 core:ComputerEquipment 2022-04-01 2023-03-31 08387251 2021-04-01 2022-03-31 08387251 core:Vehicles 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 08387251 (England and Wales)

MANOR PARK FLOORING LIMITED

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

MANOR PARK FLOORING LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

MANOR PARK FLOORING LIMITED

BALANCE SHEET

As at 31 March 2023
MANOR PARK FLOORING LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 4,375 8,233
4,375 8,233
Current assets
Stocks 4 995 695
Debtors 5 14,784 4,852
Cash at bank and in hand 8,291 15,761
24,070 21,308
Creditors: amounts falling due within one year 6 ( 29,717) ( 18,094)
Net current (liabilities)/assets (5,647) 3,214
Total assets less current liabilities (1,272) 11,447
Creditors: amounts falling due after more than one year 0 ( 3,874)
Net (liabilities)/assets ( 1,272) 7,573
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 1,372 ) 7,473
Total shareholders' (deficit)/funds ( 1,272) 7,573

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 Manor Park Flooring Limited (registered number: 08387251) were approved and authorised for issue by the Board of Directors on 29 March 2024. They were signed on its behalf by:

Mr A C James
Director
MANOR PARK FLOORING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
MANOR PARK 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

Manor Park 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 Leanne House, 6 Avon Close, Weymouth, DT4 9UX, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred 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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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 straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 5 years straight line
Computer 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.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Vehicles Computer equipment Total
£ £ £
Cost
At 01 April 2022 17,994 1,081 19,075
At 31 March 2023 17,994 1,081 19,075
Accumulated depreciation
At 01 April 2022 10,797 45 10,842
Charge for the financial year 3,599 259 3,858
At 31 March 2023 14,396 304 14,700
Net book value
At 31 March 2023 3,598 777 4,375
At 31 March 2022 7,197 1,036 8,233

4. Stocks

2023 2022
£ £
Stocks 995 695

5. Debtors

2023 2022
£ £
Trade debtors 5,010 4,799
CIS suffered 53 53
Other debtors 9,721 0
14,784 4,852

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 4,752 703
Taxation and social security 21,138 13,434
Obligations under finance leases and hire purchase contracts 3,228 3,228
Other creditors 599 729
29,717 18,094

7. Related party transactions

Transactions with the entity's directors

The Directors loan accounts are repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 April 2022 the balance owed by the Company was £131. During the year, £49,440 was advanced and £39,588 was repaid. The balance due to the Company as at 31 March 2023 was £9,721.


At 1 April 2021 the balance owed to the Company was £48,628. During the year, £25,178 was advanced and £33,937 was repaid. The balance due by the Company as at 31 March 2022 was £131.