Caseware UK (AP4) 2023.0.135 2023.0.135 1No description of principal activity2022-08-01false1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08149693 2022-08-01 2023-07-31 08149693 2021-08-01 2022-07-31 08149693 2023-07-31 08149693 2022-07-31 08149693 c:CompanySecretary1 2022-08-01 2023-07-31 08149693 c:Director1 2022-08-01 2023-07-31 08149693 c:RegisteredOffice 2022-08-01 2023-07-31 08149693 d:Buildings d:ShortLeaseholdAssets 2022-08-01 2023-07-31 08149693 d:Buildings d:ShortLeaseholdAssets 2023-07-31 08149693 d:Buildings d:ShortLeaseholdAssets 2022-07-31 08149693 d:PlantMachinery 2022-08-01 2023-07-31 08149693 d:PlantMachinery 2023-07-31 08149693 d:PlantMachinery 2022-07-31 08149693 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08149693 d:MotorVehicles 2022-08-01 2023-07-31 08149693 d:MotorVehicles 2023-07-31 08149693 d:MotorVehicles 2022-07-31 08149693 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08149693 d:OfficeEquipment 2022-08-01 2023-07-31 08149693 d:OfficeEquipment 2023-07-31 08149693 d:OfficeEquipment 2022-07-31 08149693 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08149693 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 08149693 d:CurrentFinancialInstruments 2023-07-31 08149693 d:CurrentFinancialInstruments 2022-07-31 08149693 d:Non-currentFinancialInstruments 2023-07-31 08149693 d:Non-currentFinancialInstruments 2022-07-31 08149693 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 08149693 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 08149693 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 08149693 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 08149693 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 08149693 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-07-31 08149693 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 08149693 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-07-31 08149693 d:ShareCapital 2023-07-31 08149693 d:ShareCapital 2022-07-31 08149693 d:RetainedEarningsAccumulatedLosses 2023-07-31 08149693 d:RetainedEarningsAccumulatedLosses 2022-07-31 08149693 c:OrdinaryShareClass1 2022-08-01 2023-07-31 08149693 c:OrdinaryShareClass1 2023-07-31 08149693 c:OrdinaryShareClass1 2022-07-31 08149693 c:FRS102 2022-08-01 2023-07-31 08149693 c:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 08149693 c:FullAccounts 2022-08-01 2023-07-31 08149693 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 08149693 e:PoundSterling 2022-08-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08149693










The Vintage Floor Tile Company Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 July 2023





 
The Vintage Floor Tile Company Ltd
 

Company Information


Director
Andrew M Triplow 




Company secretary
Fiona M Triplow



Registered number
08149693



Registered office
37 St Margaret's Street

Canterbury

Kent

CT1 2TU




Trading Address
Unit 44 Maple Leaf
Manston Business Park

Ramsgate

Kent

CT12 5GD






Accountants
Kreston Reeves LLP
Chartered Accountants

37 St Margaret's Street

Canterbury

Kent

CT1 2TU





 
The Vintage Floor Tile Company Ltd
 

Contents



Page
Accountants' Report
1
Balance Sheet
2
Notes to the Financial Statements
3 - 10


 
The Vintage Floor Tile Company Ltd
 
  
Chartered Accountants' Report to the Director on the preparation of the Unaudited Statutory Financial Statements of The Vintage Floor Tile Company Ltd for the Year Ended 31 July 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Vintage Floor Tile Company Ltd for the year ended 31 July 2023 which comprise  the Balance Sheet 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 the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of The Vintage Floor Tile Company Ltd in accordance with the terms of our engagement letter dated 20 November 2023Our work has been undertaken solely to prepare for your approval the financial statements of The Vintage Floor Tile Company Ltd and state those matters that we have agreed to state to the director of The Vintage Floor Tile Company Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Vintage Floor Tile Company Ltd and its director for our work or for this report. 

It is your duty to ensure that The Vintage Floor Tile Company Ltd 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 loss of The Vintage Floor Tile Company Ltd. You consider that The Vintage Floor Tile Company Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of The Vintage Floor Tile Company Ltd. 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.

  



Kreston Reeves LLP
 
Chartered Accountants
  
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
30 April 2024
Page 1

 
The Vintage Floor Tile Company Ltd
Registered number: 08149693

Balance Sheet
As at 31 July 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
33,868
5,210

Current assets
  

Stocks
  
47,500
37,500

Debtors: amounts falling due within one year
 5 
31,063
31,808

Cash at bank and in hand
  
351
1,238

  
78,914
70,546

Creditors: amounts falling due within one year
 6 
(72,006)
(34,755)

Net current assets
  
 
 
6,908
 
 
35,791

Total assets less current liabilities
  
40,776
41,001

Creditors: amounts falling due after more than one year
 7 
(12,631)
(14,962)

Provisions for liabilities
  

Deferred tax
  
(7,383)
(339)

Net assets
  
20,762
25,700


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
20,662
25,600

  
20,762
25,700


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 April 2024.

Andrew M Triplow
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
The Vintage Floor Tile Company Ltd
 

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

1.


General information

The Vintage Tile Floor Company Ltd is a private company limited by shares which was incorporated in England and Wales. 
The company's registered office address is 37 St Margaret's Street, Canterbury, Kent, CT1 2TU. The company's trading address is Unit 44 Maple Lear, Manston Business Park, Ramsgate, Kent, CT12 5GD.
The financial statements are presented in pound sterling and rounded to the nearest pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
The Vintage Floor Tile Company Ltd
 

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

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property
-
10%
straight line basis
Plant and machinery
-
25%
Motor vehicles
-
25%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
The Vintage Floor Tile Company Ltd
 

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

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the
Page 5

 
The Vintage Floor Tile Company Ltd
 

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

2.Accounting policies (continued)


2.12
Financial instruments (continued)

present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
 
Page 6

 
The Vintage Floor Tile Company Ltd
 

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

2.Accounting policies (continued)


2.12
Financial instruments (continued)


Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Improve-ments to property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 August 2022
5,704
7,150
-
-
12,854


Additions
6,875
-
-
-
6,875


Transfers intra group
-
9,861
10,848
4,119
24,828



At 31 July 2023

12,579
17,011
10,848
4,119
44,557



Depreciation


At 1 August 2022
2,281
5,363
-
-
7,644


Charge for the year on owned assets
1,257
1,788
-
-
3,045



At 31 July 2023

3,538
7,151
-
-
10,689



Net book value



At 31 July 2023
9,041
9,860
10,848
4,119
33,868



At 31 July 2022
3,423
1,787
-
-
5,210

Page 7

 
The Vintage Floor Tile Company Ltd
 

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

5.


Debtors

2023
2022
£
£


Other debtors
24,907
29,908

Prepayments and accrued income
6,156
1,900

31,063
31,808



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
5,007
4,884

Trade creditors
1,767
1,410

Other creditors
42,370
25,292

Corporation tax
-
114

Other taxation and social security
702
704

Other creditors
17,960
-

Accruals and deferred income
4,200
2,351

72,006
34,755



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
12,631
14,962

12,631
14,962


Page 8

 
The Vintage Floor Tile Company Ltd
 

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

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
5,007
4,884


5,007
4,884

Amounts falling due 1-2 years

Bank loans
5,134
5,007


5,134
5,007

Amounts falling due 2-5 years

Bank loans
7,497
9,955


7,497
9,955


17,638
19,846



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



10.


Related party transactions

At the year end, The Vintage Floor Tile Company Limited owed AF2024 Limited (formerly The Old Radiator Company Limited) £42,370 (2022: £25,292). The trade of AF2024 Limited was transferred to The Vintage Floor Tile Company Limited on 31 July 2023, along with assets valued at £38,684.
At the balance sheet date, The Trading Post Kent Limited owed The Vintage Floor Tile Company Limited  £24,908 (2022: £29,908).
During the year, the company paid rent of £11,400 (2022: £10,550) to the directors’ personal pension scheme.
AF2024 Limited and The Trading Post Kent Limited are also under the control of Andrew and Fiona Triplow. 

Page 9

 
The Vintage Floor Tile Company Ltd
 

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

11.


Controlling party

The ultimate controlling parties were Mr A and Mrs F Triplow who own 100% of the called up share
capital.


Page 10