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Registered Number: 11595236
England & Northern Ireland

 

 

 

CLASSIC FLOORING LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 31 March 2022

End date: 30 March 2023
Directors Neil Hanlon
Oliver Nowell
Registered Number 11595236
Registered Office 12 High Street
Pangbourne
Berkshire
RG8 7AB
Accountants Denton Tavara Limited
61a High Street South
Rushden
NN10 0RA
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 March 2023.
Principal activities
Principal activity of the company during the financial year was of carpet and flooring resellers.
Directors
The directors who served the company throughout the year were as follows:
Neil Hanlon
Oliver Nowell
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Oliver Nowell
Director

Date approved: 01 December 2023
2
Accountants report
You consider that the company is exempt from an audit for the year ended 30 March 2023 . You have acknowledged, on the Statement of Financial Position , your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.



....................................................
Denton Tavara Limited
61a High Street South
Rushden
NN10 0RA
01 December 2023
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,222    13,121 
1,222    13,121 
Current assets      
Stocks 4 24,000    51,334 
Debtors 5 9,645    9,645 
Cash at bank and in hand 50,542    23,155 
84,187    84,134 
Creditors: amount falling due within one year 6 (55,653)   (65,312)
Net current assets 28,534    18,822 
 
Total assets less current liabilities 29,756    31,943 
Creditors: amount falling due after more than one year 7 (28,734)   (30,000)
Net assets 1,022    1,943 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 1,020    1,941 
Shareholder's funds 1,022    1,943 
 


For the year ended 30 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 01 December 2023 and were signed on its behalf by:


-------------------------------
Oliver Nowell
Director
4
General Information
Classic Flooring Ltd is a private company, limited by shares, registered in England & Northern Ireland, registration number 11595236, registration address 12 High Street, Pangbourne, Berkshire, RG8 7AB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 3).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Total
  £   £   £
At 31 March 2022 15,578    2,035    17,613 
Additions    
Disposals (15,578)     (15,578)
At 30 March 2023   2,035    2,035 
Depreciation
At 31 March 2022 3,894    598    4,492 
Charge for year   215    215 
On disposals (3,894)     (3,894)
At 30 March 2023   813    813 
Net book values
Closing balance as at 30 March 2023   1,222    1,222 
Opening balance as at 31 March 2022 11,684    1,437    13,121 


4.

Stocks

2023
£
  2022
£
Closing Stocks and WIP 24,000    51,334 
24,000    51,334 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Other Debtors 9,645    9,645 
9,645    9,645 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 23,780    21,061 
Corporation Tax 25,615    23,236 
Other Creditors   1 
VAT 6,258    21,014 
55,653    65,312 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans and Overdrafts 28,734    30,000 
28,734    30,000 

5