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REGISTERED NUMBER: 05624374 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 March 2024

for

J.Young Flooring Limited

J.Young Flooring Limited (Registered number: 05624374)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


J.Young Flooring Limited

Company Information
For The Year Ended 31 March 2024







DIRECTOR: Mr Jason Lee Young





SECRETARY: Mr Paul John Young





REGISTERED OFFICE: 42 Abbott Road
Alfreton
Derbyshire
DE55 7HD





REGISTERED NUMBER: 05624374 (England and Wales)





ACCOUNTANTS: Pedley & Co.
Chartered Certified Accountants
82 Nottingham Road
Somercotes
Alfreton
Derbyshire
DE55 4LY

J.Young Flooring Limited (Registered number: 05624374)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 17,425 13,976
17,425 13,976

CURRENT ASSETS
Stocks 425 425
Debtors 6 15,595 7,705
Cash at bank 301 29,018
16,321 37,148
CREDITORS
Amounts falling due within one year 7 15,620 20,275
NET CURRENT ASSETS 701 16,873
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,126

30,849

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 18,125 30,848
SHAREHOLDERS' FUNDS 18,126 30,849

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 June 2024 and were signed by:




Mr Jason Lee Young - Director


J.Young Flooring Limited (Registered number: 05624374)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

J.Young Flooring Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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 have been enacted or substantively enacted by the balance sheet 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

J.Young Flooring Limited (Registered number: 05624374)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 13,900
AMORTISATION
At 1 April 2023
and 31 March 2024 13,900
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 21,092 2,043 9,150 274 32,559
Additions 7,000 - - - 7,000
At 31 March 2024 28,092 2,043 9,150 274 39,559
DEPRECIATION
At 1 April 2023 10,141 1,275 6,979 188 18,583
Charge for year 2,845 154 543 9 3,551
At 31 March 2024 12,986 1,429 7,522 197 22,134
NET BOOK VALUE
At 31 March 2024 15,106 614 1,628 77 17,425
At 31 March 2023 10,951 768 2,171 86 13,976

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 15,595 7,705

J.Young Flooring Limited (Registered number: 05624374)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,233 1,000
Trade creditors 10,444 16,259
Taxation and social security 3,773 2,355
Other creditors 170 661
15,620 20,275