1 July 2022 v2024.3.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP044767632022-07-012023-06-30044767632023-06-30044767632022-06-3004476763core:WithinOneYear2023-06-3004476763core:WithinOneYear2022-06-3004476763core:ShareCapital2023-06-3004476763core:ShareCapital2022-06-3004476763core:RetainedEarningsAccumulatedLosses2023-06-3004476763core:RetainedEarningsAccumulatedLosses2022-06-3004476763bus:Director12022-07-012023-06-3004476763bus:RegisteredOffice2022-07-012023-06-3004476763core:PlantMachinery2022-07-012023-06-3004476763core:MotorVehicles2022-07-012023-06-30044767632021-07-012022-06-3004476763core:PlantMachinery2023-06-3004476763core:PlantMachinery2022-07-0104476763core:PlantMachinery2022-06-300447676312022-07-012023-06-3004476763countries:EnglandWales2022-07-012023-06-3004476763bus:AuditExemptWithAccountantsReport2022-07-012023-06-3004476763bus:PrivateLimitedCompanyLtd2022-07-012023-06-3004476763bus:SmallEntities2022-07-012023-06-3004476763bus:FullAccounts2022-07-012023-06-30
Company registration number:
04476763
Charles Flooring Limited
Unaudited Filleted Financial Statements for the year ended
30 June 2023
Thomas Nock Martin Limited
Chartered Accountants
5 Hagley Court South, The Waterfront, Brierley Hill, West Midlands, DY5 1XE, United Kingdom
Charles Flooring Limited
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Charles Flooring Limited
Year ended
30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements
of
Charles Flooring Limited
for the year ended
30 June 2023
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
Charles Flooring Limited
, as a body, in accordance with the terms of our engagement letter dated 27 November 2019. Our work has been undertaken solely to prepare for your approval the
financial statements
of
Charles Flooring Limited
and state those matters that we have agreed to state to the Board of Directors of
Charles Flooring Limited
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Charles Flooring Limited
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
Charles Flooring Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Charles Flooring Limited
. You consider that
Charles Flooring Limited
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Charles Flooring Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Thomas Nock Martin Limited
Chartered Accountants
5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
United Kingdom
Date:
31 January 2024
Charles Flooring Limited
Statement of Financial Position
30 June 2023
20232022
Note££
Fixed assets    
Tangible assets 5
2,608
 
3,476
 
Current assets    
Debtors 6
38,514
 
8,859
 
Cash at bank and in hand
107,251
 
116,977
 
145,765
 
125,836
 
Creditors: amounts falling due within one year 7
(24,086
)
(15,475
)
Net current assets
121,679
 
110,361
 
Total assets less current liabilities 124,287   113,837  
Provisions for liabilities
(500
)
(660
)
Net assets
123,787
 
113,177
 
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
123,687
 
113,077
 
Shareholders funds
123,787
 
113,177
 
For the year ending
30 June 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
31 January 2024
, and are signed on behalf of the board by:
Andrew Thomas Charles
Director
Company registration number:
04476763
Charles Flooring Limited
Notes to the Financial Statements
Year ended
30 June 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
5 Hagley Court South
,
The Waterfront
,
Brierley Hill
,
West Midlands
,
DY5 1XE
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The Financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The Financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
25% reducing balance
Motor vehicles
25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like other debtors and creditors, loans from banks, loans from related parties.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4 Average number of employees

The average number of persons employed by the company during the year was
3
(2022:
3
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 July 2022
and
30 June 2023
23,156
 
Depreciation  
At
1 July 2022
19,680
 
Charge
868
 
At
30 June 2023
20,548
 
Carrying amount  
At
30 June 2023
2,608
 
At 30 June 2022
3,476
 

6 Debtors

20232022
££
Trade debtors
32,854
 
5,749
 
Other debtors
5,660
 
3,110
 
38,514
 
8,859
 

7 Creditors: amounts falling due within one year

20232022
££
Trade creditors
10,083
 
10,566
 
Taxation and social security
8,525
 
41
 
Other creditors
5,478
 
4,868
 
24,086
 
15,475