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Registered Number: 07250463
England and Wales

 

 

 

DOORS AND FLOORS DIRECT LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 26,098    38,809 
26,098    38,809 
Current assets      
Stocks 4 402,874    431,993 
Debtors 5 99,362    107,142 
Cash at bank and in hand 771,174    783,465 
1,273,410    1,322,600 
Creditors: amount falling due within one year 6 (95,641)   (153,151)
Net current assets 1,177,769    1,169,449 
 
Total assets less current liabilities 1,203,867    1,208,258 
Provisions for liabilities 7 (4,143)   (6,558)
Net assets 1,199,724    1,201,700 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 1,199,722    1,201,698 
Shareholders' funds 1,199,724    1,201,700 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 18 September 2024 and were signed on its behalf by:


-------------------------------
Kevin Scott
Director
1
General Information
Doors and Floors Direct Limited is a private company, limited by shares, registered in England and Wales, registration number 07250463, registration address Unit 7 Blaydon Trade Park, Toll Bridge Road, Blaydon, NE21 5TR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the going concern and 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)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the
reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that  it relates to items recognised in other comprehensive income or directly in capital and reserves. In this  case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at
the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or  substantively enacted at the reporting date. 
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax
losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings NIL Straight Line
Plant and Machinery 33% Straight Line
Motor Vehicles 33% Straight Line
Fixtures and Fittings 33% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 10 (2022 : 9).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £   £
At 01 January 2023 4,294    33,619    47,325    5,086    90,324 
Additions   1,228      318    1,546 
Disposals       (876)   (876)
At 31 December 2023 4,294    34,847    47,325    4,528    90,994 
Depreciation
At 01 January 2023   33,619    13,368    4,528    51,515 
Charge for year     13,775    482    14,257 
On disposals       (876)   (876)
At 31 December 2023   33,619    27,143    4,134    64,896 
Net book values
Closing balance as at 31 December 2023 4,294    1,228    20,182    394    26,098 
Opening balance as at 01 January 2023 4,294      33,957    558    38,809 


4.

Stocks

2023
£
  2022
£
Stocks 402,874    431,993 
402,874    431,993 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 78,186    89,959 
78,186    89,959 

5.

Debtors: amounts falling due after one year

2023
£
  2022
£
Prepayments 21,176    17,183 
21,176    17,183 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 39,162    77,735 
Corporation Tax 25,923    37,164 
PAYE & Social Security 7,316    6,918 
Directors' Current Accounts 4,970    7,661 
VAT 18,270    23,673 
95,641    153,151 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 6,558    4,011 
Deferred tax provision (2,415)   2,547 
4,143    6,558 

8.

Directors Advances, Credits & Guarantees

Included in creditors: amounts falling due within one year are amounts owed to Directors of £4,970 (2022 - £7,661).
9.

Disclosure of Controlling Party

For the whole of the period under review the company was under the control of Kevin and Samantha Scott, directors of the company.
2