Registered number
04588358
Phoenix Carpets (Lincolnshire) Limited
Filleted Accounts
30 November 2023
Phoenix Carpets (Lincolnshire) Limited
Registered number: 04588358
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 59,650 60,343
Cash at bank and in hand 497 497
60,147 60,840
Creditors: amounts falling due within one year 4 (5,750) (5,742)
Net current assets 54,397 55,098
Net assets 54,397 55,098
Capital and reserves
Called up share capital 100 100
Profit and loss account 54,297 54,998
Shareholders' funds 54,397 55,098
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Docherty
Director
Approved by the board on 9 August 2024
Phoenix Carpets (Lincolnshire) Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
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
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 is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Debtors 2023 2022
£ £
Trade debtors 59,650 60,343
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 5,700 5,692
Other creditors 50 50
5,750 5,742
5 Related party transactions
During the year dividends were paid to the shareholding director of £25,000 (2022: £25,000).
The balance owed to the director was £50 (2022: £50) at the year end.
6 Controlling party
The company is wholly controlled by the director.
7 Other information
Phoenix Carpets (Lincolnshire) Limited is a private company limited by shares and incorporated in England. Its registered office is:
2-4 Lord Street
Grimsby
North East Lincolnshire
DN31 2LU
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