Company registration number 03103434 (England and Wales)
Oldroyd Flooring Limited
Unaudited
financial statements
for the year ended 31 March 2024
PAGES FOR FILING WITH REGISTRAR
Oldroyd Flooring Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
Oldroyd Flooring Limited
Statement of financial position
as at 31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
40,225
46,472
Current assets
Stocks
852,250
566,576
Debtors
122,733
180,773
Cash at bank and in hand
176,029
342,494
1,151,012
1,089,843
Creditors: amounts falling due within one year
(750,652)
(706,986)
Net current assets
400,360
382,857
Total assets less current liabilities
440,585
429,329
Creditors: amounts falling due after more than one year
(119,445)
(188,514)
Provisions for liabilities
(10,056)
(8,830)
Net assets
311,084
231,985
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
311,082
231,983
Total equity
311,084
231,985
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Oldroyd Flooring Limited
Statement of financial position (continued)
as at 31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 29 July 2024
S Oldroyd
Director
Company Registration No. 03103434
Oldroyd Flooring Limited
Notes to the financial statements
for the year ended 31 March 2024
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts and is recognised on supply of services.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% Reducing Balance
Fixtures and fittings
15% Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Stocks
Stock and work in progress are stated at the lower of cost and net realisable value.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated, but not reversed, at the balance sheet date. Timing differences represent accumulated differences between the company's taxable profit and its financial profit arise primarily from the differences between the accelerated capital allowances and depreciation.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Oldroyd Flooring Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
15
15
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2023
208,239
7,903
216,142
Additions
790
790
At 31 March 2024
209,029
7,903
216,932
Depreciation and impairment
At 1 April 2023
163,248
6,422
169,670
Depreciation charged in the year
6,815
222
7,037
At 31 March 2024
170,063
6,644
176,707
Carrying amount
At 31 March 2024
38,966
1,259
40,225
At 31 March 2023
44,991
1,481
46,472
4
Company information
Oldroyd Flooring Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2 The Maltings Industrial Estate, Doncaster Road, Whitley Bridge, Goole, East Yorkshire, DN14 0HH.