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REGISTERED NUMBER: 01455855 (England and Wales)













Smithfield Carpets Limited

Unaudited Financial Statements

for the Year Ended 31 October 2023






Smithfield Carpets Limited (Registered number: 01455855)






Contents of the Financial Statements
for the year ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Smithfield Carpets Limited

Company Information
for the year ended 31 October 2023







DIRECTORS: J E Hancox
Mrs N Hancox
Mrs L J Hancox





SECRETARY: Mrs N Hancox





REGISTERED OFFICE: Smithfield House
Smithfield Road
Uttoxeter
Staffordshire
ST14 7JB





REGISTERED NUMBER: 01455855 (England and Wales)





ACCOUNTANTS: Slaters & Co Accountants
Lymore Villa
162a London Road
Chesterton
Newcastle
Staffordshire
ST5 7JB

Smithfield Carpets Limited (Registered number: 01455855)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,838 14,270

CURRENT ASSETS
Stocks 5,651 5,325
Debtors 5 37,179 37,076
Cash at bank and in hand 45,815 62,689
88,645 105,090
CREDITORS
Amounts falling due within one year 6 80,739 75,200
NET CURRENT ASSETS 7,906 29,890
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,744

44,160

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 18,644 44,060
SHAREHOLDERS' FUNDS 18,744 44,160

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

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

Smithfield Carpets Limited (Registered number: 01455855)

Balance Sheet - continued
31 October 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 29 July 2024 and were signed on its behalf by:




J E Hancox - Director



Mrs L J Hancox - Director


Smithfield Carpets Limited (Registered number: 01455855)

Notes to the Financial Statements
for the year ended 31 October 2023

1. STATUTORY INFORMATION

Smithfield Carpets 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 represents net invoice value of goods / services provided, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

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 10 (2022 - 11 ) .

Smithfield Carpets Limited (Registered number: 01455855)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 November 2022
and 31 October 2023 12,438 8,166 20,759
DEPRECIATION
At 1 November 2022 12,438 7,621 19,699
Charge for year - 55 159
At 31 October 2023 12,438 7,676 19,858
NET BOOK VALUE
At 31 October 2023 - 490 901
At 31 October 2022 - 545 1,060

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 44,521 4,948 90,832
DEPRECIATION
At 1 November 2022 32,495 4,309 76,562
Charge for year 3,007 211 3,432
At 31 October 2023 35,502 4,520 79,994
NET BOOK VALUE
At 31 October 2023 9,019 428 10,838
At 31 October 2022 12,026 639 14,270

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 35,041 35,054
Other debtors 2,138 2,022
37,179 37,076

Smithfield Carpets Limited (Registered number: 01455855)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 46,343 38,197
Taxation and social security 24,357 23,933
Other creditors 10,039 13,070
80,739 75,200