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REGISTERED NUMBER: 09309070 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Floorstore (NW) Limited

Floorstore (NW) Limited (Registered number: 09309070)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Floorstore (NW) Limited (Registered number: 09309070)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,219 53,999

CURRENT ASSETS
Stocks 20,756 38,519
Debtors 5 207,902 143,636
Cash at bank 139,136 89,568
367,794 271,723
CREDITORS
Amounts falling due within one year 6 186,353 147,616
NET CURRENT ASSETS 181,441 124,107
TOTAL ASSETS LESS CURRENT LIABILITIES 213,660 178,106

CREDITORS
Amounts falling due after more than one year 7 (17,911 ) (31,382 )

PROVISIONS FOR LIABILITIES (8,055 ) (10,260 )
NET ASSETS 187,694 136,464

CAPITAL AND RESERVES
Called up share capital 67 67
Capital redemption reserve 33 33
Retained earnings 187,594 136,364
SHAREHOLDERS' FUNDS 187,694 136,464

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by:




Mr P J Morris - Director


Floorstore (NW) Limited (Registered number: 09309070)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Floorstore (NW) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09309070

Registered office: Francis House, Leopold Street
Lamberhead Industrial Estate
Pemberton
Wigan
Greater Manchester
WN5 8DH

The presentation currency of the financial statements is the Pound Sterling (£).


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 stated net of value added tax and is recognised in the period to which it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Office equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Floorstore (NW) Limited (Registered number: 09309070)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Office Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 January 2023 26,000 737 66,303 93,040
Disposals - - (14,795 ) (14,795 )
At 31 December 2023 26,000 737 51,508 78,245
DEPRECIATION
At 1 January 2023 12,483 324 26,234 39,041
Charge for year 3,379 62 7,243 10,684
Eliminated on disposal - - (3,699 ) (3,699 )
At 31 December 2023 15,862 386 29,778 46,026
NET BOOK VALUE
At 31 December 2023 10,138 351 21,730 32,219
At 31 December 2022 13,517 413 40,069 53,999

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2023
and 31 December 2023 16,000
DEPRECIATION
At 1 January 2023 5,760
Charge for year 2,560
At 31 December 2023 8,320
NET BOOK VALUE
At 31 December 2023 7,680
At 31 December 2022 10,240

Floorstore (NW) Limited (Registered number: 09309070)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 191,006 110,416
Other debtors 16,896 33,220
207,902 143,636

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 3,581 3,581
Trade creditors 105,873 89,558
Taxation and social security 49,796 32,729
Other creditors 17,103 11,748
186,353 147,616

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 14,930 24,820
Hire purchase contracts 2,981 6,562
17,911 31,382

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 6,562 10,143

The hire purchase creditor is secured over the asset to which it relates.