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Registered Number: 06254261
England and Wales

 

 

 

WILSON'S FLOORING SPECIALISTS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 30 November 2023
 
 
Notes
 
2023
£
  2023
£
Fixed assets      
Tangible fixed assets 3 34,232    53,161 
34,232    53,161 
Current assets      
Stocks 4 57,678    114,540 
Debtors 5 51,129    80,448 
Cash at bank and in hand 44,597    11,665 
153,404    206,653 
Creditors: amount falling due within one year 6 (41,214)   (66,332)
Net current assets 112,190    140,321 
 
Total assets less current liabilities 146,422    193,482 
Provisions for liabilities 7 (6,504)   (10,101)
Net assets 139,918    183,381 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 139,818    183,281 
Shareholders' funds 139,918    183,381 
 


For the period ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 30 August 2024 and were signed on its behalf by:


-------------------------------
N A Dean
Director
1
General Information
Wilson's Flooring Specialists Limited is a private company, limited by shares, registered in England and Wales, registration number 06254261, registration address 366 Brook Street, Birkenhead, Merseyside, CH41 4LB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 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 taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 14 (2023 : 14).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 April 2023 22,256    89,928    112,184 
Additions   7,194    7,194 
Disposals   (36,833)   (36,833)
At 30 November 2023 22,256    60,289    82,545 
Depreciation
At 01 April 2023 20,768    38,255    59,023 
Charge for period 217    5,627    5,844 
On disposals   (16,554)   (16,554)
At 30 November 2023 20,985    27,328    48,313 
Net book values
Closing balance as at 30 November 2023 1,271    32,961    34,232 
Opening balance as at 01 April 2023 1,488    51,673    53,161 


4.

Stocks

2023
£
  2023
£
Work in Progress 37,528    59,540 
Stocks 20,150    55,000 
57,678    114,540 

5.

Debtors: amounts falling due within one year

2023
£
  2023
£
Trade Debtors 42,982    69,308 
Prepayments & Accrued Income 2,498    10,384 
Corporation Tax 2,149   
Directors' Current Accounts 3,500   
VAT   756 
51,129    80,448 
Loans to Director
As at the year end the director N Dean owed the company £3,500 (2022 - £0). The loan is unsecured, interest-free with no formal repayment schedule.

6.

Creditors: amount falling due within one year

2023
£
  2023
£
Trade Creditors 10,355    23,896 
Corporation Tax   2,149 
PAYE & Social Security 3,988    6,636 
Accrued Expenses 1,400    2,323 
Other Creditors 8,138   
Wages & Salaries Control Account 2,924    847 
Pension Control Account 219    356 
Directors' Current Accounts   30,125 
VAT 14,190   
41,214    66,332 

7.

Provisions for liabilities

2023
£
  2023
£
Deferred Tax 6,504    10,101 
6,504    10,101 

2