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REGISTERED NUMBER: 05437904 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

THE 2ND FLOORING CO. LIMITED

THE 2ND FLOORING CO. LIMITED (REGISTERED NUMBER: 05437904)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE 2ND FLOORING CO. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: C A Osbourne





REGISTERED OFFICE: 1 Main Road
Cotgrave
Nottingham
NG12 3HQ





REGISTERED NUMBER: 05437904 (England and Wales)





ACCOUNTANTS: seven7seven
10 Kingswell Avenue
Arnold
Nottingham
NG5 6SY

THE 2ND FLOORING CO. LIMITED (REGISTERED NUMBER: 05437904)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,000 15,000
Tangible assets 5 59,935 60,579
71,935 75,579

CURRENT ASSETS
Stocks 29,658 28,129
Debtors 6 129,542 50,810
Cash at bank 6,638 121,340
165,838 200,279
CREDITORS
Amounts falling due within one year 7 135,033 127,198
NET CURRENT ASSETS 30,805 73,081
TOTAL ASSETS LESS CURRENT
LIABILITIES

102,740

148,660

CREDITORS
Amounts falling due after more than one
year

8

(29,961

)

(35,373

)

PROVISIONS FOR LIABILITIES - (4,270 )
NET ASSETS 72,779 109,017

THE 2ND FLOORING CO. LIMITED (REGISTERED NUMBER: 05437904)

BALANCE SHEET - continued
30 APRIL 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 72,679 108,917
SHAREHOLDERS' FUNDS 72,779 109,017

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 8 September 2024 and were signed by:





C A Osbourne - Director


THE 2ND FLOORING CO. LIMITED (REGISTERED NUMBER: 05437904)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

The 2nd Flooring Co. 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 represents net invoiced sales of goods and services excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten 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.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.


THE 2ND FLOORING CO. LIMITED (REGISTERED NUMBER: 05437904)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 30,000
AMORTISATION
At 1 May 2023 15,000
Amortisation for year 3,000
At 30 April 2024 18,000
NET BOOK VALUE
At 30 April 2024 12,000
At 30 April 2023 15,000

THE 2ND FLOORING CO. LIMITED (REGISTERED NUMBER: 05437904)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 38,105 44,116 27,215 13,026 122,462
Additions 3,600 5,150 - - 8,750
Disposals - - (22,235 ) - (22,235 )
At 30 April 2024 41,705 49,266 4,980 13,026 108,977
DEPRECIATION
At 1 May 2023 - 31,227 20,456 10,200 61,883
Charge for year - 2,705 701 2,031 5,437
Eliminated on disposal - - (18,278 ) - (18,278 )
At 30 April 2024 - 33,932 2,879 12,231 49,042
NET BOOK VALUE
At 30 April 2024 41,705 15,334 2,101 795 59,935
At 30 April 2023 38,105 12,889 6,759 2,826 60,579

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 32,433 20,938
Amounts owed by participating interests - 4,475
Other debtors 97,109 25,397
129,542 50,810

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,411 5,280
Trade creditors 50,782 67,145
Amounts owed to participating interests 63,583 44,390
Taxation and social security 4,454 4,761
Other creditors 10,803 5,622
135,033 127,198

THE 2ND FLOORING CO. LIMITED (REGISTERED NUMBER: 05437904)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 29,961 35,373

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 6,933 12,905

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
C A Osbourne
Balance outstanding at start of year 4,540 109,990
Amounts advanced 80,634 4,540
Amounts repaid - (109,990 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 85,174 4,540