2022-11-012023-10-312023-10-31false13677360FALMOUTH FLOORING 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FALMOUTH FLOORING LTD

Registered Number
13677360
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

FALMOUTH FLOORING LTD
Company Information
for the year from 1 November 2022 to 31 October 2023

Director

IZOD-HILEY, Brett James

Registered Address

14a New Bridge Street
Truro
TR1 2AA

Registered Number

13677360 (England and Wales)
FALMOUTH FLOORING LTD
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets36,6465,444
6,6465,444
Current assets
Debtors3,8688,892
Cash at bank and on hand3,167176
7,0359,068
Creditors amounts falling due within one year4(24,385)(29,439)
Net current assets (liabilities)(17,350)(20,371)
Total assets less current liabilities(10,704)(14,927)
Creditors amounts falling due after one year5(2,778)-
Net assets(13,482)(14,927)
Capital and reserves
Called up share capital11
Profit and loss account(13,483)(14,928)
Shareholders' funds(13,482)(14,927)
The financial statements were approved and authorised for issue by the Director on 26 July 2024, and are signed on its behalf by:
IZOD-HILEY, Brett James
Director
Registered Company No. 13677360
FALMOUTH FLOORING LTD
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery20
Fixtures and fittings20
2.Average number of employees

20232022
Average number of employees during the year32
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 November 221,3995,4076,806
Additions1,1431,7202,863
At 31 October 232,5427,1279,669
Depreciation and impairment
At 01 November 222801,0821,362
Charge for year4521,2091,661
At 31 October 237322,2913,023
Net book value
At 31 October 231,8104,8366,646
At 31 October 221,1194,3255,444
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables9,36225,670
Bank borrowings and overdrafts1,667-
Taxation and social security3,3092,122
Other creditors9,4461,048
Accrued liabilities and deferred income601599
Total24,38529,439
5.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts2,778-
Total2,778-