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REGISTERED NUMBER: 00992500 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ASSOCIATED FLOOR COVERINGS LIMITED

ASSOCIATED FLOOR COVERINGS LIMITED (REGISTERED NUMBER: 00992500)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

ASSOCIATED FLOOR COVERINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M A Rogers
B P Goudge





REGISTERED OFFICE: 1550 London Road
Leigh on Sea
Essex
SS9 2QG





REGISTERED NUMBER: 00992500 (England and Wales)





ACCOUNTANTS: Goldwyns Limited
Chartered Accountants
Rutland House
90-92 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ

ASSOCIATED FLOOR COVERINGS LIMITED (REGISTERED NUMBER: 00992500)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 37,998 41,399

CURRENT ASSETS
Stocks 185,930 184,129
Debtors 349,464 375,109
Cash at bank and in hand 10,179 19,016
545,573 578,254
CREDITORS
Amounts falling due within one year 520,196 476,368
NET CURRENT ASSETS 25,377 101,886
TOTAL ASSETS LESS CURRENT
LIABILITIES

63,375

143,285

CREDITORS
Amounts falling due after more than one
year

14,885

25,168
NET ASSETS 48,490 118,117

CAPITAL AND RESERVES
Called up share capital 7 25,000 25,000
Retained earnings 23,490 93,117
SHAREHOLDERS' FUNDS 48,490 118,117

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.

ASSOCIATED FLOOR COVERINGS LIMITED (REGISTERED NUMBER: 00992500)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by:





B P Goudge - Director


ASSOCIATED FLOOR COVERINGS LIMITED (REGISTERED NUMBER: 00992500)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Associated Floor Coverings 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes, from the supply and fitting of carpets and flooring. Income is recognised when the ownership of goods are passed (legally or substantially) to the customer. Partially completed installs are recognised according to the costs expended, at the reporting date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 210,518
Additions 572
At 31 December 2023 211,090
DEPRECIATION
At 1 January 2023 169,119
Charge for year 3,973
At 31 December 2023 173,092
NET BOOK VALUE
At 31 December 2023 37,998
At 31 December 2022 41,399

ASSOCIATED FLOOR COVERINGS LIMITED (REGISTERED NUMBER: 00992500)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 31,512 30,857
Between one and five years 53,095 17,248
84,607 48,105

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 147,823 96,220
Bounce Back loan 25,168 35,269
172,991 131,489

The Bounce Back loan is secured by a guarantee from the UK Government under the Bounce Back Loan Scheme.

The overdraft is secured on the assets of the company.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
24,000 Ordinary "A" £1 24,000 24,000
1,000 Ordinary "B" £1 1,000 1,000
25,000 25,000

8. PENSION COMMITMENTS

At the balance sheet date, the company owed £1,313 (2022 - £1,030) to the pension provider.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ASSOCIATED FLOOR COVERINGS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Associated Floor Coverings Limited for the year ended 31 December 2023 which comprise the Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Associated Floor Coverings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Associated Floor Coverings Limited and state those matters that we have agreed to state to the Board of Directors of Associated Floor Coverings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Associated Floor Coverings Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Associated Floor Coverings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Associated Floor Coverings Limited. You consider that Associated Floor Coverings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Associated Floor Coverings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Goldwyns Limited
Chartered Accountants
Rutland House
90-92 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ


16 September 2024