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COMPANY REGISTRATION NUMBER: 06636212
WOOLS OF CUMBRIA CARPETS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 July 2023
WOOLS OF CUMBRIA CARPETS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 3
WOOLS OF CUMBRIA CARPETS LIMITED
BALANCE SHEET
31 July 2023
2023
2022
Note
£
£
Current assets
Stocks
6
170,658
129,603
Debtors
7
24,353
22,754
Cash at bank and in hand
108,029
148,103
------------
------------
303,040
300,460
Creditors: amounts falling due within one year
8
( 208,845)
( 200,071)
------------
------------
Net current assets
94,195
100,389
------------
------------
Total assets less current liabilities
94,195
100,389
------------
------------
Net assets
94,195
100,389
------------
------------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
94,095
100,289
------------
------------
Shareholders funds
94,195
100,389
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 1 March 2024 , and are signed on behalf of the board by:
N J Barraclough
Director
Company registration number: 06636212
WOOLS OF CUMBRIA CARPETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Gateway Unit, Dockray Hall Industrial Estate, Kendal, Cumbria, LA9 4QY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the value of goods sold and services provided net of value added tax.
Deferred taxation
Deferred taxation is provided on the liability method at anticipated future rates of taxation on differences arising from the inclusion of income and expenditure in periods different for accounts and taxation purposes.
Stocks
Stock is valued at the lower of cost and net realisable value.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Turnover
The company's turnover is derived entirely within the United Kingdom.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 3 ).
6. Stocks
2023
2022
£
£
Raw materials and consumables
170,658
129,603
------------
------------
7. Debtors
2023
2022
£
£
Trade debtors
16,951
22,754
VAT recoverable
6,413
Corporation tax repayable
989
------------
------------
24,353
22,754
------------
------------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
59,263
50,704
Accruals and deferred income
533
689
Corporation tax
1,184
Social security and other taxes
540
1,127
Director loan accounts
148,509
146,367
------------
------------
208,845
200,071
------------
------------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
------------
------------
------------
------------
10. Related party transactions
The directors' loan set out above at note 9 above are unsecured, repayable on demand and currently interest-free. The company is controlled by C G Barraclough.