Company Registration No. 03333430 (England and Wales)
P & M Flooring Limited
Unaudited accounts
for the year ended 31 March 2024
P & M Flooring Limited
Unaudited accounts
Contents
P & M Flooring Limited
Company Information
for the year ended 31 March 2024
Directors
P A Greenshields
M Watson
Company Number
03333430 (England and Wales)
Registered Office
123 Cross Lane East
Gravesend
Kent
DA12 5HA
Accountants
Clayton Stirling
123 Cross Lane East
Gravesend
Kent
DA12 5HA
P & M Flooring Limited
Statement of financial position
as at 31 March 2024
Tangible assets
11,199
15,825
Cash at bank and in hand
31,591
42,360
Creditors: amounts falling due within one year
(140,183)
(80,703)
Net current assets
45,210
101,477
Total assets less current liabilities
56,409
117,302
Creditors: amounts falling due after more than one year
(16,675)
(28,501)
Called up share capital
100
100
Profit and loss account
39,634
88,701
Shareholders' funds
39,734
88,801
For the year ending 31 March 2024 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 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 of Directors and authorised for issue on 5 July 2024 and were signed on its behalf by
P A Greenshields
Director
Company Registration No. 03333430
P & M Flooring Limited
Notes to the Accounts
for the year ended 31 March 2024
P & M Flooring Limited is a private company, limited by shares, registered in England and Wales, registration number 03333430. The registered office is 123 Cross Lane East, Gravesend, Kent, DA12 5HA.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant & machinery
25% reducing balance basis
Motor vehicles
25% reducing balance basis
Fixtures & fittings
20% straight line basis
Computer equipment
20% straight line basis
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
P & M Flooring Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2023
8,944
27,110
298
7,018
43,370
At 31 March 2024
8,944
27,110
298
7,018
43,370
At 1 April 2023
7,289
15,673
159
4,424
27,545
Charge for the year
332
2,859
30
1,405
4,626
At 31 March 2024
7,621
18,532
189
5,829
32,171
At 31 March 2024
1,323
8,578
109
1,189
11,199
At 31 March 2023
1,655
11,437
139
2,594
15,825
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
8,578
11,437
Amounts falling due within one year
Trade debtors
134,651
97,904
Accrued income and prepayments
2,111
1,943
Other debtors
17,040
39,973
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,825
10,000
Obligations under finance leases and hire purchase contracts
1,001
4,004
Trade creditors
33,870
5,755
Taxes and social security
40,739
34,808
Other creditors
6,072
3,727
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
-
1,001
P & M Flooring Limited
Notes to the Accounts
for the year ended 31 March 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors
18,338
62,684
72,500
8,522
Directors
19,477
60,719
72,500
7,696
37,815
123,403
145,000
16,218
9
Average number of employees
During the year the average number of employees was 6 (2023: 6).