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REGISTERED NUMBER: 07880688 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

P J Martin Carpet Specialist Ltd

P J Martin Carpet Specialist Ltd (Registered number: 07880688)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P J Martin Carpet Specialist Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: P J Martin





REGISTERED OFFICE: 13 Heron Drive
Witney
Oxfordshire
OX28 6NP





REGISTERED NUMBER: 07880688 (England and Wales)





ACCOUNTANTS: Ayres Accounting Limited
13 Heron Drive
Witney
Oxfordshire
OX28 6NP

P J Martin Carpet Specialist Ltd (Registered number: 07880688)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,690 3,586

CURRENT ASSETS
Debtors 5 292 61
Cash at bank 96,492 121,684
96,784 121,745
CREDITORS
Amounts falling due within one year 6 5,610 14,605
NET CURRENT ASSETS 91,174 107,140
TOTAL ASSETS LESS CURRENT
LIABILITIES

93,864

110,726

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 93,764 110,626
93,864 110,726

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 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.

P J Martin Carpet Specialist Ltd (Registered number: 07880688)

Balance Sheet - continued
31 December 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 September 2024 and were signed by:





P J Martin - Director


P J Martin Carpet Specialist Ltd (Registered number: 07880688)

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

1. STATUTORY INFORMATION

P J Martin Carpet Specialist Ltd 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles - 25% Reducing Balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


P J Martin Carpet Specialist Ltd (Registered number: 07880688)

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

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 8,500
DEPRECIATION
At 1 January 2023 4,914
Charge for year 896
At 31 December 2023 5,810
NET BOOK VALUE
At 31 December 2023 2,690
At 31 December 2022 3,586

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 225 -
Other debtors 67 61
292 61

P J Martin Carpet Specialist Ltd (Registered number: 07880688)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 1,119 1,649
Taxation and social security 1,953 10,685
Other creditors 2,538 2,271
5,610 14,605