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Registered number: 07426632
P T Flooring Limited
Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07426632
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,551 5,700
5,551 5,700
CURRENT ASSETS
Debtors 5 6,553 5,259
Cash at bank and in hand 2,928 6,859
9,481 12,118
Creditors: Amounts Falling Due Within One Year 6 (7,684 ) (10,303 )
NET CURRENT ASSETS (LIABILITIES) 1,797 1,815
TOTAL ASSETS LESS CURRENT LIABILITIES 7,348 7,515
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,058 ) (1,089 )
NET ASSETS 6,290 6,426
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 6,190 6,326
SHAREHOLDERS' FUNDS 6,290 6,426
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For the year ending 30 November 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Rebecca Tomlinson
Director
13 August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
P T Flooring Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07426632 . The registered office is Atelier B1 Lodway, Pill, Bristol, BS20 0DH.
The presentation currency of the financial statements is the Pound Sterling (£)
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents the revenue generated from the sale of goods and services. Revenue is measured at the fair value of the consideration received and receivable excluding value added tax.
Sales of goods are recognised when the company has delivered the products to the customer and the customer has accepted the products. 
Revenue from services is recognised when services have been provided and the contractual right to the consideration has been earned. For incomplete contracts an assessment is made of the extent to which revenue has been earned.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation and any accumulated impairment losses
Depreciation is provided at following annual rates in order to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
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.
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2.5. Pensions
The company operates a defined pension contribution scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 5)
5 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2022 16,189 15,575 2,002 33,766
Additions - - 116 116
As at 30 November 2023 16,189 15,575 2,118 33,882
Depreciation
As at 1 December 2022 15,506 10,759 1,801 28,066
Provided during the period 178 36 51 265
As at 30 November 2023 15,684 10,795 1,852 28,331
Net Book Value
As at 30 November 2023 505 4,780 266 5,551
As at 1 December 2022 683 4,816 201 5,700
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 5,600 3,962
Other debtors 953 1,297
6,553 5,259
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 16 1,082
Other creditors 4,375 3,017
Taxation and social security 3,293 6,204
7,684 10,303
8. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 December 2022 1,089 1,089
Deferred taxation (31 ) (31 )
Balance at 30 November 2023 1,058 1,058
The provision for deferred taxation is made up of accelerated capital allowances.
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
During the year, total dividends of £12,000 (2022 - £18,000) were paid to the directors.
Other than movements on the directors' loan accounts with the company, there were no other advances, credits and guarantees with the directors during the accounting period. The directors loan accounts remained in credit for the entire period.
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