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REGISTERED NUMBER: 01342778 (England and Wales)















THE HULL FLOORING COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






THE HULL FLOORING COMPANY LIMITED (REGISTERED NUMBER: 01342778)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE HULL FLOORING COMPANY LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: S A Dawson
M J Merryweather
Mrs C C Wilson





SECRETARY: Mrs C C Wilson





REGISTERED OFFICE: Lee Smith Street
Hedon Road
Hull
HU9 1SD





REGISTERED NUMBER: 01342778 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

THE HULL FLOORING COMPANY LIMITED (REGISTERED NUMBER: 01342778)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 125,994 17,790

CURRENT ASSETS
Stocks 5 39,927 60,099
Debtors 6 873,033 1,088,877
Cash at bank and in hand 290,829 265,831
1,203,789 1,414,807
CREDITORS
Amounts falling due within one year 7 146,255 159,099
NET CURRENT ASSETS 1,057,534 1,255,708
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,183,528

1,273,498

CREDITORS
Amounts falling due after more than one year 8 (45,000 ) (65,000 )

PROVISIONS FOR LIABILITIES (33,388 ) (3,380 )
NET ASSETS 1,105,140 1,205,118

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,105,040 1,205,018
SHAREHOLDERS' FUNDS 1,105,140 1,205,118

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

THE HULL FLOORING COMPANY LIMITED (REGISTERED NUMBER: 01342778)

BALANCE SHEET - continued
31 December 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 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 3 April 2024 and were signed on its behalf by:




S A Dawson - Director



M J Merryweather - Director


THE HULL FLOORING COMPANY LIMITED (REGISTERED NUMBER: 01342778)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

The Hull Flooring Company Limited is a private company, limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at Lee Smith Street, Hedon Road, East Yorkshire, HU9 1SD.

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under finance lease, over the lease term, whichever is the shorter.

Freehold property - 2% on straight line basis
Plant and equipment - 10% to 33% on a straight line basis
Motor vehicles - 25% on reducing balance basis

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stock is calculated on the first in first out basis.

In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

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.


THE HULL FLOORING COMPANY LIMITED (REGISTERED NUMBER: 01342778)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 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.

Pension costs and other post-retirement benefits
The company contributes to defined contribution pension schemes. Contributions payable for the year are charged in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 50,812 76,010 126,822
Additions 12,559 122,248 134,807
Disposals (4,800 ) (40,237 ) (45,037 )
At 31 December 2023 58,571 158,021 216,592
DEPRECIATION
At 1 January 2023 39,019 70,013 109,032
Charge for year 4,101 17,943 22,044
Eliminated on disposal (4,796 ) (35,682 ) (40,478 )
At 31 December 2023 38,324 52,274 90,598
NET BOOK VALUE
At 31 December 2023 20,247 105,747 125,994
At 31 December 2022 11,793 5,997 17,790

THE HULL FLOORING COMPANY LIMITED (REGISTERED NUMBER: 01342778)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


5. STOCKS
2023 2022
£    £   
Stocks 39,927 56,641
Work-in-progress - 3,458
39,927 60,099

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 94,419 181,373
Amounts owed by group undertakings 756,598 886,598
Prepayments 22,016 20,906
873,033 1,088,877

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 20,000 20,000
Trade creditors 62,794 77,638
Tax 35,744 27,791
Social security and other taxes 11,124 16,690
Other creditors 8,186 9,001
Accrued expenses 8,407 7,979
146,255 159,099

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 45,000 65,000

9. ULTIMATE CONTROLLING PARTY

The controlling party is Maxen Ltd.

The ultimate controlling party is the Directors.