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REGISTERED NUMBER: 09734453 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Signature Carpets & Flooring Limited

Signature Carpets & Flooring Limited (Registered number: 09734453)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Signature Carpets & Flooring Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: S Wright
Ms G E Buckman





REGISTERED OFFICE: 4 Yorke Street
Hucknall
Nottingham
Nottinghamshire
NG15 7BT





REGISTERED NUMBER: 09734453 (England and Wales)





ACCOUNTANTS: Smith Cookson
Chartered Accountants
4 Yorke Street
Hucknall
Nottinghamshire
NG15 7BT

Signature Carpets & Flooring Limited (Registered number: 09734453)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 34,276 29,813

CURRENT ASSETS
Stocks 40,646 33,880
Debtors 5 474,688 248,751
Cash at bank 34,815 117,173
550,149 399,804
CREDITORS
Amounts falling due within one year 6 232,468 199,897
NET CURRENT ASSETS 317,681 199,907
TOTAL ASSETS LESS CURRENT
LIABILITIES

351,957

229,720

CREDITORS
Amounts falling due after more than one
year

7

(18,460

)

(21,849

)

PROVISIONS FOR LIABILITIES 10 (8,569 ) (7,453 )
NET ASSETS 324,928 200,418

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 324,828 200,318
SHAREHOLDERS' FUNDS 324,928 200,418

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Signature Carpets & Flooring Limited (Registered number: 09734453)

Balance Sheet - continued
31 August 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 Board of Directors and authorised for issue on 26 April 2024 and were signed on its behalf by:





S Wright - Director


Signature Carpets & Flooring Limited (Registered number: 09734453)

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

1. STATUTORY INFORMATION

Signature Carpets & Flooring Limited 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Signature Carpets & Flooring Limited (Registered number: 09734453)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2022 313 3,992 36,531 9,526 50,362
Additions 1,759 1,378 12,750 - 15,887
At 31 August 2023 2,072 5,370 49,281 9,526 66,249
DEPRECIATION
At 1 September 2022 78 1,746 15,984 2,741 20,549
Charge for year 498 905 8,324 1,697 11,424
At 31 August 2023 576 2,651 24,308 4,438 31,973
NET BOOK VALUE
At 31 August 2023 1,496 2,719 24,973 5,088 34,276
At 31 August 2022 235 2,246 20,547 6,785 29,813

Signature Carpets & Flooring Limited (Registered number: 09734453)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2022 9,749
Additions 9,250
At 31 August 2023 18,999
DEPRECIATION
At 1 September 2022 4,265
Charge for year 3,684
At 31 August 2023 7,949
NET BOOK VALUE
At 31 August 2023 11,050
At 31 August 2022 5,484

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 317,431 176,611
Retentions 35,699 22,645
Other debtors 2,190 3,590
Directors' current accounts 81,395 41,907
VAT 34,997 3,998
Prepayments and accrued income 2,976 -
474,688 248,751

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts (see note 8) 6,000 6,000
Hire purchase contracts 4,374 2,425
Trade creditors 140,572 120,089
Corporation tax 57,324 33,265
Social security and other taxes 17,770 31,154
Credit card - 838
Accruals and deferred income 6,428 6,126
232,468 199,897

Signature Carpets & Flooring Limited (Registered number: 09734453)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans (see note 8) 11,000 17,000
Hire purchase contracts 7,460 4,849
18,460 21,849

8. LOANS

An analysis of the maturity of loans is given below:

31.8.23 31.8.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 6,000 6,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 6,000 6,000

Amounts falling due between two and five years:
Bank loans to be repaid
between 2 & 5 years by
instalments 5,000 11,000
5,000 11,000

9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Hire purchase contracts 11,834 7,274

10. PROVISIONS FOR LIABILITIES
31.8.23 31.8.22
£    £   
Deferred tax 8,569 7,453

Deferred
tax
£   
Balance at 1 September 2022 7,453
Provided during year 1,116
Balance at 31 August 2023 8,569

Signature Carpets & Flooring Limited (Registered number: 09734453)

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

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
100 Ordinary £1 100 100

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

31.8.23 31.8.22
£    £   
S Wright
Balance outstanding at start of year 41,907 -
Amounts advanced 81,395 41,907
Amounts repaid (41,907 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 81,395 41,907

The loan was repaid in full on 30th April 2024.