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REGISTERED NUMBER: 10881891 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2024

for

A & B Flooring Ltd

A & B Flooring Ltd (Registered number: 10881891)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A & B Flooring Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: B F Brook
A W McLennan





REGISTERED OFFICE: Unit 15, Access 4:20
New Hythe Business Park
Bellingham Way
Aylesford
Kent
ME20 7HP





REGISTERED NUMBER: 10881891 (England and Wales)





ACCOUNTANTS: Nichols & Co ( Accountancy ) Limited
Chartered Accountants
Unit 7
Mulberry Place
Pinnell Road
Eltham
London
SE9 6AR

A & B Flooring Ltd (Registered number: 10881891)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £ £
FIXED ASSETS
Intangible assets 4 500,000 500,000
Tangible assets 5 174,204 85,949
674,204 585,949

CURRENT ASSETS
Debtors 6 763,245 868,792
Cash at bank 369,912 163,397
1,133,157 1,032,189
CREDITORS
Amounts falling due within one year 7 (919,408 ) (855,056 )
NET CURRENT ASSETS 213,749 177,133
TOTAL ASSETS LESS CURRENT
LIABILITIES

887,953

763,082

CREDITORS
Amounts falling due after more than one
year

8

(149,296

)

(219,186

)

PROVISIONS FOR LIABILITIES 9 (5,688 ) (15,142 )
NET ASSETS 732,969 528,754

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 732,869 528,654
SHAREHOLDERS' FUNDS 732,969 528,754

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

A & B Flooring Ltd (Registered number: 10881891)

Balance Sheet - continued
31 March 2024


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 Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:





B F Brook - Director


A & B Flooring Ltd (Registered number: 10881891)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

A & B Flooring 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, excluding discounts, rebates, value added tax and other sales taxes.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 10% on cost

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.

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
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.

A & B Flooring Ltd (Registered number: 10881891)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the financial instrument.

Cash and cash equivalents
These comprise cash at bank and other short-term highly liquid bank deposits.

Debtors
Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the profit and loss account when there is objective evidence that the asset is impaired.

Trade creditors
Trade creditors are not interest bearing and are stated at their nominal value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 April 2023
and 31 March 2024 500,000
NET BOOK VALUE
At 31 March 2024 500,000
At 31 March 2023 500,000

5. TANGIBLE FIXED ASSETS
Motor
vehicles
£
COST
At 1 April 2023 136,575
Additions 135,740
Disposals (63,797 )
At 31 March 2024 208,518
DEPRECIATION
At 1 April 2023 50,626
Charge for year 18,140
Eliminated on disposal (34,452 )
At 31 March 2024 34,314
NET BOOK VALUE
At 31 March 2024 174,204
At 31 March 2023 85,949

A & B Flooring Ltd (Registered number: 10881891)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST
At 1 April 2023 124,237
Additions 135,740
Disposals (63,797 )
At 31 March 2024 196,180
DEPRECIATION
At 1 April 2023 46,925
Charge for year 16,906
Eliminated on disposal (34,452 )
At 31 March 2024 29,379
NET BOOK VALUE
At 31 March 2024 166,801
At 31 March 2023 77,312

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Trade debtors 344,459 359,800
Amounts owed by group undertakings 10,300 -
Other debtors 408,486 508,992
763,245 868,792

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Bank loans and overdrafts 48,000 48,000
Hire purchase contracts 26,204 3,713
Trade creditors 400,573 280,010
Amounts owed to group undertakings - 149,800
Taxation and social security 178,634 127,392
Other creditors 265,997 246,141
919,408 855,056

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£ £
Bank loans 60,000 108,000
Hire purchase contracts 35,593 6,129
Other creditors 53,703 105,057
149,296 219,186

A & B Flooring Ltd (Registered number: 10881891)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£ £
Deferred tax 5,688 15,142

Deferred tax
£
Balance at 1 April 2023 15,142
Provided during year (9,454 )
Balance at 31 March 2024 5,688

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £ £
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£

At 1 April 2023 528,654
Profit for the year 384,215
Dividends (180,000 )
At 31 March 2024 732,869

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, the company owed a total of £27,751 (2023 - £49,497) to Mr B Brook.

At the year end, the company owed a total of £25,952 (2023 - £55,560) to Mr A McLennan.

The above loans are interest free and repayable on demand.

13. RELATED PARTY DISCLOSURES

During the year, the company paid dividends of £180,000 (2023 - £260,000) to A & B Flooring Holdings Ltd, the parent company.

At the year end, the company was owed £10,300 (2023 owed - £149,800) to A & B Flooring Holdings Ltd

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr B Brook and Mr A McLennan by virtue of their control in A & B Flooring Holdings Ltd, the parent company.