2023-01-012023-12-312023-12-31false04913503SANTONE CARPETS LIMITED2024-06-0382990iso4217:GBPxbrli:pure049135032023-01-01049135032023-12-31049135032023-01-012023-12-31049135032022-01-01049135032022-12-31049135032022-01-012022-12-3104913503bus:SmallEntities2023-01-012023-12-3104913503bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3104913503bus:AbridgedAccounts2023-01-012023-12-3104913503bus:PrivateLimitedCompanyLtd2023-01-012023-12-3104913503core:WithinOneYear2023-12-3104913503core:AfterOneYear2023-12-3104913503core:WithinOneYear2022-12-3104913503core:AfterOneYear2022-12-3104913503core:ShareCapital2023-12-3104913503core:SharePremium2023-12-3104913503core:RevaluationReserve2023-12-3104913503core:OtherReservesSubtotal2023-12-3104913503core:RetainedEarningsAccumulatedLosses2023-12-3104913503core:ShareCapital2022-12-3104913503core:SharePremium2022-12-3104913503core:RevaluationReserve2022-12-3104913503core:OtherReservesSubtotal2022-12-3104913503core:RetainedEarningsAccumulatedLosses2022-12-3104913503core:LandBuildings2023-12-3104913503core:PlantMachinery2023-12-3104913503core:Vehicles2023-12-3104913503core:FurnitureFittings2023-12-3104913503core:OfficeEquipment2023-12-3104913503core:NetGoodwill2023-12-3104913503core:IntangibleAssetsOtherThanGoodwill2023-12-3104913503core:ListedExchangeTraded2023-12-3104913503core:UnlistedNon-exchangeTraded2023-12-3104913503core:LandBuildings2022-12-3104913503core:PlantMachinery2022-12-3104913503core:Vehicles2022-12-3104913503core:FurnitureFittings2022-12-3104913503core:OfficeEquipment2022-12-3104913503core:NetGoodwill2022-12-3104913503core:IntangibleAssetsOtherThanGoodwill2022-12-3104913503core:ListedExchangeTraded2022-12-3104913503core:UnlistedNon-exchangeTraded2022-12-3104913503core:LandBuildings2023-01-012023-12-3104913503core:PlantMachinery2023-01-012023-12-3104913503core:Vehicles2023-01-012023-12-3104913503core:FurnitureFittings2023-01-012023-12-3104913503core:OfficeEquipment2023-01-012023-12-3104913503core:NetGoodwill2023-01-012023-12-3104913503core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3104913503core:ListedExchangeTraded2023-01-012023-12-3104913503core:UnlistedNon-exchangeTraded2023-01-012023-12-3104913503core:MoreThanFiveYears2023-01-012023-12-3104913503core:Non-currentFinancialInstruments2023-12-3104913503core:Non-currentFinancialInstruments2022-12-3104913503dpl:CostSales2023-01-012023-12-3104913503dpl:DistributionCosts2023-01-012023-12-3104913503core:LandBuildings2023-01-012023-12-3104913503core:PlantMachinery2023-01-012023-12-3104913503core:Vehicles2023-01-012023-12-3104913503core:FurnitureFittings2023-01-012023-12-3104913503core:OfficeEquipment2023-01-012023-12-3104913503dpl:AdministrativeExpenses2023-01-012023-12-3104913503core:NetGoodwill2023-01-012023-12-3104913503core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3104913503dpl:GroupUndertakings2023-01-012023-12-3104913503dpl:ParticipatingInterests2023-01-012023-12-3104913503dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3104913503core:ListedExchangeTraded2023-01-012023-12-3104913503dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3104913503core:UnlistedNon-exchangeTraded2023-01-012023-12-3104913503dpl:CostSales2022-01-012022-12-3104913503dpl:DistributionCosts2022-01-012022-12-3104913503core:LandBuildings2022-01-012022-12-3104913503core:PlantMachinery2022-01-012022-12-3104913503core:Vehicles2022-01-012022-12-3104913503core:FurnitureFittings2022-01-012022-12-3104913503core:OfficeEquipment2022-01-012022-12-3104913503dpl:AdministrativeExpenses2022-01-012022-12-3104913503core:NetGoodwill2022-01-012022-12-3104913503core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3104913503dpl:GroupUndertakings2022-01-012022-12-3104913503dpl:ParticipatingInterests2022-01-012022-12-3104913503dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3104913503core:ListedExchangeTraded2022-01-012022-12-3104913503dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3104913503core:UnlistedNon-exchangeTraded2022-01-012022-12-3104913503core:NetGoodwill2023-12-3104913503core:IntangibleAssetsOtherThanGoodwill2023-12-3104913503core:LandBuildings2023-12-3104913503core:PlantMachinery2023-12-3104913503core:Vehicles2023-12-3104913503core:FurnitureFittings2023-12-3104913503core:OfficeEquipment2023-12-3104913503core:AfterOneYear2023-12-3104913503core:WithinOneYear2023-12-3104913503core:ListedExchangeTraded2023-12-3104913503core:UnlistedNon-exchangeTraded2023-12-3104913503core:ShareCapital2023-12-3104913503core:SharePremium2023-12-3104913503core:RevaluationReserve2023-12-3104913503core:OtherReservesSubtotal2023-12-3104913503core:RetainedEarningsAccumulatedLosses2023-12-3104913503core:NetGoodwill2022-12-3104913503core:IntangibleAssetsOtherThanGoodwill2022-12-3104913503core:LandBuildings2022-12-3104913503core:PlantMachinery2022-12-3104913503core:Vehicles2022-12-3104913503core:FurnitureFittings2022-12-3104913503core:OfficeEquipment2022-12-3104913503core:AfterOneYear2022-12-3104913503core:WithinOneYear2022-12-3104913503core:L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SANTONE CARPETS LIMITED

Registered Number
04913503
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

SANTONE CARPETS LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

GILBERT, Amber, Mrs.
THOMPSON, Paul Mark Antony

Registered Address

Unit 6 Riverside 1 Sir Thomas Longley Road
Medway City Estate
Rochester
ME2 4DP

Registered Number

04913503 (England and Wales)
SANTONE CARPETS LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets49,64216,198
9,64216,198
Current assets
Stocks59,00014,325
Debtors638,89774,599
Cash at bank and on hand-6,784
47,89795,708
Creditors amounts falling due within one year7(189,237)(98,035)
Net current assets (liabilities)(141,340)(2,327)
Total assets less current liabilities(131,698)13,871
Creditors amounts falling due after one year8(15,123)(37,269)
Net assets(146,821)(23,398)
Capital and reserves
Profit and loss account(146,821)(23,398)
Shareholders' funds(146,821)(23,398)
The financial statements were approved and authorised for issue by the Board of Directors on 3 June 2024, and are signed on its behalf by:
GILBERT, Amber, Mrs.
Director
Registered Company No. 04913503
SANTONE CARPETS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements. The directors have formed this opinion based upon the ongoing support of the directors and the company's bank.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Borrowing costs
Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery6.67
Vehicles4
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year99
3.Intangible assets

Total

£
Cost or valuation
At 01 January 23120,000
At 31 December 23120,000
Amortisation and impairment
At 01 January 23120,000
At 31 December 23120,000
Net book value
At 31 December 23-
At 31 December 22-
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 2391,531
Additions600
At 31 December 2360,372
Depreciation and impairment
At 01 January 2375,334
Charge for year7,155
At 31 December 2350,731
Net book value
At 31 December 239,642
At 31 December 2216,198
5.Stocks

2023

2022

££
Raw materials and consumables9,00014,325
Total9,00014,325
6.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables38,89755,391
Other debtors-16,192
Prepayments and accrued income-3,016
Total38,89774,599
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables56,79228,220
Bank borrowings and overdrafts42,08439,775
Taxation and social security9,51712,058
Other creditors62,52317,982
Accrued liabilities and deferred income18,321-
Total189,23798,035
Included in other creditors is £49,901 (2022: £309) which is due to the directors.
8.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts15,12337,269
Total15,12337,269
9.Secured creditors
Included in bank borrowings and overdrafts is £39,666 which is secured.
10.Prior period policy changes
The presentation of certain prior year Balance Sheet categories has changed. There is no affect to the net asset position of the company.