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Registered number: 06638066
Reform Flooring Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Steve Pye & Co.
Chartered Certified Accountants
Unit 8 Home Farm
Norwich Road
Marsham, Norwich
Norfolk
NR10 5PQ
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 06638066
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 51,841 32,377
51,841 32,377
CURRENT ASSETS
Stocks 5 7,643 7,718
Debtors 6 131,006 127,462
Cash at bank and in hand 123,160 133,335
261,809 268,515
Creditors: Amounts Falling Due Within One Year 7 (202,668 ) (172,371 )
NET CURRENT ASSETS (LIABILITIES) 59,141 96,144
TOTAL ASSETS LESS CURRENT LIABILITIES 110,982 128,521
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,849 ) (5,905 )
NET ASSETS 101,133 122,616
CAPITAL AND RESERVES
Called up share capital 8 30 30
Income Statement 101,103 122,586
SHAREHOLDERS' FUNDS 101,133 122,616
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Stefano D'Esposito
Director
11 April 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Reform Flooring Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06638066 . The registered office is Unit 17 Shepherds Business Park Norwich Road, Lenwade, Norwich, Norfolk, NR9 5SG.  
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 33% on cost
Leasehold 33% on cost
Motor Vehicles 50% and 33% on cost
Fixtures & Fittings 33% on cost
2.4. Stocks and Work in Progress
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.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2022: 13)
13 13
Page 3
Page 4
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2023 11,446 117,811 32,363 161,620
Additions - 49,680 4,541 54,221
Disposals - (22,995 ) - (22,995 )
As at 31 December 2023 11,446 144,496 36,904 192,846
Depreciation
As at 1 January 2023 11,446 87,489 30,308 129,243
Provided during the period - 25,220 2,872 28,092
Disposals - (16,330 ) - (16,330 )
As at 31 December 2023 11,446 96,379 33,180 141,005
Net Book Value
As at 31 December 2023 - 48,117 3,724 51,841
As at 1 January 2023 - 30,322 2,055 32,377
5. Stocks
2023 2022
£ £
Stock 7,643 7,718
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 123,710 121,425
Prepayments and accrued income 6,713 5,444
Net wages 583 593
131,006 127,462
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 70,329 55,283
Other creditors 20,120 14,253
Taxation and social security 112,219 102,835
202,668 172,371
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 30 30
Page 4