Company Registration No. 05587889 (England and Wales)
Paul Dobson's Carpets Limited
Unaudited accounts
for the year ended 31 October 2023
Paul Dobson's Carpets Limited
Unaudited accounts
Contents
Paul Dobson's Carpets Limited
Company Information
for the year ended 31 October 2023
Directors
Mrs L M D Dobson
Mr P Dobson
Secretary
Mrs L M D Dobson
Company Number
05587889 (England and Wales)
Registered Office
40 Collum End Rise
Leckhampton
Cheltenham
GLOUCESTERSHIRE
GL53 0PB
United Kingdom
Accountants
Louise Newman and co Ltd
2 Bath Mews
Bath Parade
Cheltenham
Gloucestershire
GL53 7HL
Paul Dobson's Carpets Limited
Statement of financial position
as at 31 October 2023
Tangible assets
25,050
29,584
Cash at bank and in hand
167,155
230,689
Creditors: amounts falling due within one year
(20,180)
(65,581)
Net current assets
177,260
194,256
Total assets less current liabilities
202,310
223,840
Provisions for liabilities
Deferred tax
(4,760)
(5,621)
Net assets
197,550
218,219
Called up share capital
2
2
Profit and loss account
197,548
218,217
Shareholders' funds
197,550
218,219
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by
Mr P Dobson
Director
Company Registration No. 05587889
Paul Dobson's Carpets Limited
Notes to the Accounts
for the year ended 31 October 2023
Paul Dobson's Carpets Limited is a private company, limited by shares, registered in England and Wales, registration number 05587889. The registered office is 40 Collum End Rise, Leckhampton, Cheltenham, GLOUCESTERSHIRE, GL53 0PB, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. 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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Motor vehicles
25% on reducing balance
Stock has been valued at the lower of cost and estimated selling price less costs to complete and sell.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Paul Dobson's Carpets Limited
Notes to the Accounts
for the year ended 31 October 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2022
17,632
57,448
14,822
89,902
Additions
-
5,000
207
5,207
At 31 October 2023
17,632
62,448
15,029
95,109
At 1 November 2022
16,439
35,494
8,385
60,318
Charge for the year
298
7,782
1,661
9,741
At 31 October 2023
16,737
43,276
10,046
70,059
At 31 October 2023
895
19,172
4,983
25,050
At 31 October 2022
1,193
21,954
6,437
29,584
Paul Dobson's Carpets Limited
Notes to the Accounts
for the year ended 31 October 2023
Amounts falling due within one year
Trade debtors
10,891
9,202
Accrued income and prepayments
549
1,101
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
10,727
25,889
Taxes and social security
561
25,022
Loans from directors
759
(1,778)
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).