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REGISTERED NUMBER: SC561080 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Carpets & Flooring (Barrhead) Limited

Carpets & Flooring (Barrhead) Limited (Registered number: SC561080)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Carpets & Flooring (Barrhead) Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: G Broadwith





REGISTERED OFFICE: 29 Brandon Street
Hamilton
ML3 6DA





REGISTERED NUMBER: SC561080 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

Carpets & Flooring (Barrhead) Limited (Registered number: SC561080)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 1,888 -
Tangible assets 6 2,105 3,157
3,993 3,157

CURRENT ASSETS
Stocks 16,520 1,500
Debtors 7 5,383 3,816
Cash at bank and in hand 50,522 39,967
72,425 45,283
CREDITORS
Amounts falling due within one year 8 45,065 32,287
NET CURRENT ASSETS 27,360 12,996
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,353

16,153

CREDITORS
Amounts falling due after more than one
year

9

(7,667

)

(11,667

)

PROVISIONS FOR LIABILITIES (998 ) (600 )
NET ASSETS 22,688 3,886

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 22,686 3,884
SHAREHOLDERS' FUNDS 22,688 3,886

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

Carpets & Flooring (Barrhead) Limited (Registered number: SC561080)

Balance Sheet - continued
30 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 29 March 2024 and were signed by:





G Broadwith - Director


Carpets & Flooring (Barrhead) Limited (Registered number: SC561080)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Carpets & Flooring (Barrhead) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There wee no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is derived from the retail of floor coverings supplied by the company.

Turnover is measured at the fair value of floor coverings supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred

Carpets & Flooring (Barrhead) Limited (Registered number: SC561080)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

3. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to the income statement as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amounts of stocks recognised as an expense in the period in which the reversal occurs.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 2,480
At 30 June 2023 2,480
AMORTISATION
Charge for year 592
At 30 June 2023 592
NET BOOK VALUE
At 30 June 2023 1,888

Carpets & Flooring (Barrhead) Limited (Registered number: SC561080)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 4,210
DEPRECIATION
At 1 July 2022 1,053
Charge for year 1,052
At 30 June 2023 2,105
NET BOOK VALUE
At 30 June 2023 2,105
At 30 June 2022 3,157

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 5,383 3,816

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,000 3,999
Trade creditors 11,132 7,868
Taxation and social security 8,807 1,827
Other creditors 21,126 18,593
45,065 32,287

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 7,667 11,667

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 11,667 15,666

The bank loan is supported by a 100% guarantee from the UK Government.

Carpets & Flooring (Barrhead) Limited (Registered number: SC561080)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

11. RELATED PARTY DISCLOSURES

The company operates a loan account with the director, G Broadwith.

During the year, the director advanced loans totalling £1,820 to the company. At the year end, the balance due to the director was £18,808 (2022: £16,988). This loan is unsecured, interest free and has no fixed repayment terms.

The company operates a loan account with Flooring Solutions Scotland Ltd, another company in which G Broadwith is also a director. At the year end, the balance due from Flooring Solutions Scotland Ltd was £3,598 (2022: £3,598). This loan is unsecured, interest free and has no fixed repayment terms.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Carpets & Flooring (Barrhead) Limited

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Carpets & Flooring (Barrhead) Limited for the year ended 30 June 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of Carpets & Flooring (Barrhead) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Carpets & Flooring (Barrhead) Limited and state those matters that we have agreed to state to the director of Carpets & Flooring (Barrhead) Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Carpets & Flooring (Barrhead) 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 Carpets & Flooring (Barrhead) Limited. You consider that Carpets & Flooring (Barrhead) 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 Carpets & Flooring (Barrhead) 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.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


29 March 2024