1 August 2022 false No description of principal activity Taxfiler 2024.5 12082663business:PrivateLimitedCompanyLtd2022-08-012023-07-31 120826632022-07-31 120826632022-08-012023-07-31 12082663business:AuditExemptWithAccountantsReport2022-08-012023-07-31 12082663business:FilletedAccounts2022-08-012023-07-31 120826632023-07-31 12082663business:Director12022-08-012023-07-31 12082663business:RegisteredOffice2022-08-012023-07-31 120826632022-07-31 12082663core:WithinOneYear2023-07-31 12082663core:WithinOneYear2022-07-31 12082663core:AfterOneYear2023-07-31 12082663core:AfterOneYear2022-07-31 12082663core:ShareCapitalcore:PreviouslyStatedAmount2023-07-31 12082663core:ShareCapitalcore:PreviouslyStatedAmount2022-07-31 12082663core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-07-31 12082663core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-07-31 12082663core:PreviouslyStatedAmount2023-07-31 12082663core:PreviouslyStatedAmount2022-07-31 12082663business:SmallEntities2022-08-012023-07-31 12082663countries:EnglandWales2022-08-012023-07-31 12082663core:MotorVehicles2022-08-012023-07-31 12082663core:FurnitureFittings2022-08-012023-07-31 12082663core:MotorVehicles2022-07-31 12082663core:FurnitureFittings2022-07-31 12082663core:MotorVehicles2023-07-31 12082663core:FurnitureFittings2023-07-31 120826632021-08-012022-07-31 iso4217:GBP xbrli:pure
Company Registration No. 12082663 (England and Wales)
PRIME CARPETS AND FURNITURE LTD Unaudited accounts for the year ended 31 July 2023
PRIME CARPETS AND FURNITURE LTD Unaudited accounts Contents
Page
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PRIME CARPETS AND FURNITURE LTD Company Information for the year ended 31 July 2023
Director
Jagir Chand
Company Number
12082663 (England and Wales)
Registered Office
115-115A MIDLAND ROAD BEDFORD BEDFORDSHIRE MK40 1DA UNITED KINGDOM
Accountants
Avid Accountants Ltd 21 Blythswood Square Glasgow G2 4BL
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PRIME CARPETS AND FURNITURE LTD Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
9,890 
11,240 
Current assets
Inventories
122,481 
127,055 
Debtors
- 
878 
Cash at bank and in hand
6,576 
6,532 
129,057 
134,465 
Creditors: amounts falling due within one year
(38,819)
(211,093)
Net current assets/(liabilities)
90,238 
(76,628)
Total assets less current liabilities
100,128 
(65,388)
Creditors: amounts falling due after more than one year
(181,258)
- 
Net liabilities
(81,130)
(65,388)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(81,230)
(65,488)
Shareholders' funds
(81,130)
(65,388)
For the year ending 31 July 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 director acknowledges his 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 and authorised for issue on 30 July 2023 and were signed on its behalf by
Jagir Chand Director Company Registration No. 12082663
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PRIME CARPETS AND FURNITURE LTD Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
PRIME CARPETS AND FURNITURE LTD is a private company, limited by shares, registered in England and Wales, registration number 12082663. The registered office is 115-115A MIDLAND ROAD, BEDFORD, BEDFORDSHIRE, MK40 1DA, 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.
3
Accounting policies
These financial statements for the year ended 31 July 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 August 2021. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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:
Motor vehicles
10%
Fixtures & fittings
10%
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 August 2022
9,220 
4,279 
13,499 
At 31 July 2023
9,220 
4,279 
13,499 
Depreciation
At 1 August 2022
1,278 
981 
2,259 
Charge for the year
922 
428 
1,350 
At 31 July 2023
2,200 
1,409 
3,609 
Net book value
At 31 July 2023
7,020 
2,870 
9,890 
At 31 July 2022
7,942 
3,298 
11,240 
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PRIME CARPETS AND FURNITURE LTD Notes to the Accounts for the year ended 31 July 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
- 
878 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
14,918 
51,912 
VAT
4,408 
- 
Other creditors
19,493 
159,181 
38,819 
211,093 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
22,077 
- 
Other creditors
159,181 
- 
181,258 
- 
8
Average number of employees
During the year the average number of employees was 2 (2022: 0).
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