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FLOOR COVERINGS ESSEX LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2023






FLOOR COVERINGS ESSEX LTD (REGISTERED NUMBER: 03215855)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

FLOOR COVERINGS ESSEX LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTOR: M T H Williamson





SECRETARY: Mrs K A Williamson





REGISTERED OFFICE: Charter House
103 - 105 Leigh Road
Leigh-on-Sea
Essex
SS9 1JL





REGISTERED NUMBER: 03215855 (England and Wales)





ACCOUNTANTS: Clouders
Chartered Certified Accountants
Charter House
103-105 Leigh Road
Leigh-on-Sea
Essex
SS9 1JL

FLOOR COVERINGS ESSEX LTD (REGISTERED NUMBER: 03215855)

BALANCE SHEET
30TH JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,664 20,992

CURRENT ASSETS
Stocks 9,200 10,000
Debtors 5 32,583 22,294
Cash at bank and in hand 17,805 60,417
59,588 92,711
CREDITORS
Amounts falling due within one year 6 41,319 47,828
NET CURRENT ASSETS 18,269 44,883
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,933

65,875

CREDITORS
Amounts falling due after more than one
year

7

(19,167

)

(32,167

)

PROVISIONS FOR LIABILITIES (4,116 ) (3,954 )
NET ASSETS 16,650 29,754

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 16,550 29,654
SHAREHOLDERS' FUNDS 16,650 29,754

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FLOOR COVERINGS ESSEX LTD (REGISTERED NUMBER: 03215855)

BALANCE SHEET - continued
30TH JUNE 2023


The 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.

The financial statements were approved by the director and authorised for issue on 29th February 2024 and were signed by:





M T H Williamson - Director


FLOOR COVERINGS ESSEX LTD (REGISTERED NUMBER: 03215855)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023

1. STATUTORY INFORMATION

Floor Coverings Essex Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

FLOOR COVERINGS ESSEX LTD (REGISTERED NUMBER: 03215855)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st July 2022 3,996 11,525 42,587 295 58,403
Additions - 9,539 - - 9,539
At 30th June 2023 3,996 21,064 42,587 295 67,942
DEPRECIATION
At 1st July 2022 3,015 11,054 23,268 74 37,411
Charge for year 71 594 8,128 74 8,867
At 30th June 2023 3,086 11,648 31,396 148 46,278
NET BOOK VALUE
At 30th June 2023 910 9,416 11,191 147 21,664
At 30th June 2022 981 471 19,319 221 20,992

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 29,514 21,675
Other debtors 2,450 -
Prepayments 619 619
32,583 22,294

FLOOR COVERINGS ESSEX LTD (REGISTERED NUMBER: 03215855)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 14,204 15,357
Tax 459 6,568
Social security and other taxes 8,504 5,885
Other creditors 333 333
Directors' current accounts 4,731 4,732
Accruals and deferred income - 3,765
Accrued expenses 3,088 1,188
41,319 47,828

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans due in 1-2 years 10,000 10,000
Bank loans due in 2-5 years 9,167 19,167
Trade creditors - 3,000
19,167 32,167

8. ULTIMATE CONTROLLING PARTY

The company is controlled by M Williamson, the director of the company.

FLOOR COVERINGS ESSEX LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
FLOOR COVERINGS ESSEX LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30th June 2023 set out on pages three to twelve and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Clouders
Chartered Certified Accountants
Charter House
103-105 Leigh Road
Leigh-on-Sea
Essex
SS9 1JL


29th February 2024