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REGISTERED NUMBER: SC063642 (Scotland)













Financial Statements

for the Year Ended 31 July 2023

for

Floor Coverings Distributors
(Glasgow) Limited

Floor Coverings Distributors
(Glasgow) Limited (Registered number: SC063642)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Floor Coverings Distributors
(Glasgow) Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: J J Maguire Jnr
J J Maguire



REGISTERED OFFICE: Units 1 & 2 Shawfield Industrial Estate
Boundary Road
Rutherglen
GLASGOW
Lanarkshire
G73 1DB



REGISTERED NUMBER: SC063642 (Scotland)



SENIOR STATUTORY AUDITOR: Kevin Shotton BA BFP FCA



AUDITORS: Clive Owen LLP
Chartered Accountants
& Statutory Auditors
140 Coniscliffe Road
Darlington
County Durham
DL3 7RT

Floor Coverings Distributors
(Glasgow) Limited (Registered number: SC063642)

Balance Sheet
31 July 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 5 4,513 4,513

CREDITORS
Amounts falling due within one year 6 4,512 4,512
NET CURRENT ASSETS 1 1
TOTAL ASSETS LESS CURRENT
LIABILITIES

1

1

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings (999 ) (999 )
SHAREHOLDERS' FUNDS 1 1

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 January 2024 and were signed on its behalf by:





J J Maguire Jnr - Director


Floor Coverings Distributors
(Glasgow) Limited (Registered number: SC063642)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Floor Coverings Distributors (Glasgow) 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.

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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Going concern
On 1 August 2021 the trade of this company was hived across to its fellow subsidiary company, Kellars Limited. Therefore, the directors continue to prepare the financial statements on a basis other than going concern.

No adjustments were necessary to amounts included in these financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with wholly owned subsidiaries within the group.

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 - At variable rates on cost
Fixtures and fittings - At variable rates on cost

The directors consider that the improvements to property is maintained in such a state of repair that its residual value is at least equal to its net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account. The directors perform annual impairment reviews in accordance with FRS 102 section 1A to ensure that the carrying value is not lower than the recoverable amount.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Floor Coverings Distributors
(Glasgow) Limited (Registered number: SC063642)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 40,196 51,394 91,590
DEPRECIATION
At 1 August 2022
and 31 July 2023 40,196 51,394 91,590
NET BOOK VALUE
At 31 July 2023 - - -
At 31 July 2022 - - -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 4,513 4,513

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 4,512 4,512

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

Floor Coverings Distributors
(Glasgow) Limited (Registered number: SC063642)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.


We draw attention to Note 2 to the financial statements which explains that the company was hived up in previous years, and therefore, the directors do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 2.

Our opinion is not modified in respect of this matter.

Kevin Shotton BA BFP FCA (Senior Statutory Auditor)
for and on behalf of Clive Owen LLP

We draw attention to Note 2 to the financial statements which explains that the company ceased trading in previous years and therefore the directors do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 2.

9. ULTIMATE PARENT COMPANY

The company is a wholly owned subsidiary of Lindens Investments Limited, a company registered in England and Wales.The registered office of Lindends Investments Limited is The Future Business Park, Darlington Road, Shildon, Co Durham, DL4 2RB.