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REGISTERED NUMBER: 06619073 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Carpet Style (Interiors) Limited

Carpet Style (Interiors) Limited (Registered number: 06619073)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Carpet Style (Interiors) Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: R A Chilton
E P Cooke
B S Chilton





REGISTERED OFFICE: 1 Great Northern Way
Victoria Road
Netherfield
Nottingham
Nottinghamshire
NG4 2HD





REGISTERED NUMBER: 06619073 (England and Wales)





ACCOUNTANTS: Xeinadin
Cabourn House
Station Street
Bingham
Nottinghamshire
NG13 8AQ

Carpet Style (Interiors) Limited (Registered number: 06619073)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,227 41,441

CURRENT ASSETS
Stocks 60,438 78,886
Debtors 5 92,591 73,934
Cash at bank and in hand 70,969 2,465
223,998 155,285
CREDITORS
Amounts falling due within one year 6 187,859 125,764
NET CURRENT ASSETS 36,139 29,521
TOTAL ASSETS LESS CURRENT
LIABILITIES

67,366

70,962

CREDITORS
Amounts falling due after more than one year 7 9,639 19,912
NET ASSETS 57,727 51,050

CAPITAL AND RESERVES
Called up share capital 100 2
Retained earnings 57,627 51,048
SHAREHOLDERS' FUNDS 57,727 51,050

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

Carpet Style (Interiors) Limited (Registered number: 06619073)

Balance Sheet - continued
30 June 2024


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 July 2024 and were signed on its behalf by:





B S Chilton - Director


Carpet Style (Interiors) Limited (Registered number: 06619073)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Carpet Style (Interiors) 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.

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


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.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Tangible fixed assets are initially recognised at cost which is the purchase price plus any directly attributable costs. Subsequently, tangible fixed assets are measured at cost less accumulated depreciation and impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial assets and liabilities are recognised when the Company becomes party to the contracted provisions of the financial instrument. The Company holds only basic financial instruments, which comprise cash and cash equivalents, trade and other debtors, trade and other creditors and loans nd borrowings. The Company has chosen to apply the provisions of Section 11 "Basic Financial Instruments" in full.

Financial assets - classified as basic financial instruments
(i) Cash and cash equivalents include cash in hand and deposits held with banks.
(ii) Trade and other debtors are initially recognised at the transaction price, including any transaction costs, and are subsequently measured at amortised cost using the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount expected to be receivable, net of any impairment. Where a financial asset constitutes a financing transaction it is initially and subsequently measured at the present value of the future payments, discounted at a market rate of interest.

Financial liabilities - classified as basic financial instruments
(iii) Trade and other creditors and loans and borrowings are initially measured at the transaction price, including any transaction costs, and are subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the undiscounted amount expected to be payable. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of the future payments, discounted at a market rate of interest.

Carpet Style (Interiors) Limited (Registered number: 06619073)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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.

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 11 (2023 - 14 ) .

Carpet Style (Interiors) Limited (Registered number: 06619073)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 19,630 72,505 92,135
DEPRECIATION
At 1 July 2023 19,630 31,064 50,694
Charge for year - 10,214 10,214
At 30 June 2024 19,630 41,278 60,908
NET BOOK VALUE
At 30 June 2024 - 31,227 31,227
At 30 June 2023 - 41,441 41,441

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 80,410 27,606
Other debtors 12,181 46,328
92,591 73,934

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 10,273 18,376
Trade creditors 102,704 63,653
Taxation and social security 53,732 28,333
Other creditors 21,150 15,402
187,859 125,764

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 9,639 19,912

Carpet Style (Interiors) Limited (Registered number: 06619073)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
R A Chilton
Balance outstanding at start of year 25,243 34,025
Amounts advanced 34,318 44,118
Amounts repaid (59,561 ) (52,900 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 25,243