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Registered number: 07902276
Mark Stebbing Carpets & Flooring Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Advoco (SW) Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07902276
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 83,588 89,041
83,588 89,041
CURRENT ASSETS
Debtors 5 209,353 151,779
Cash at bank and in hand 107,888 115,049
317,241 266,828
Creditors: Amounts Falling Due Within One Year 6 (211,803 ) (148,578 )
NET CURRENT ASSETS (LIABILITIES) 105,438 118,250
TOTAL ASSETS LESS CURRENT LIABILITIES 189,026 207,291
Creditors: Amounts Falling Due After More Than One Year 7 (18,844 ) (24,910 )
NET ASSETS 170,182 182,381
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 170,082 182,281
SHAREHOLDERS' FUNDS 170,182 182,381
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Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mark Stebbing
Director
18 September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Mark Stebbing Carpets & Flooring Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07902276 . The registered office is Unit 11 Granby Court, Surrey Close, Weymouth, Dorset, DT4 9XB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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.
Sale of goods
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.
Rendering of services
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.
2.3. Tangible Fixed Assets and Depreciation
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:
Plant & Machinery 15% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 33% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
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2.5. Taxation - continued
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 6)
8 6
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2023 101,324 21,902 6,112 129,338
Additions 5,250 2,442 1,310 9,002
As at 31 January 2024 106,574 24,344 7,422 138,340
Depreciation
As at 1 February 2023 26,297 10,010 3,990 40,297
Provided during the period 11,321 2,050 1,084 14,455
As at 31 January 2024 37,618 12,060 5,074 54,752
Net Book Value
As at 31 January 2024 68,956 12,284 2,348 83,588
As at 1 February 2023 75,027 11,892 2,122 89,041
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 147,193 81,118
Prepayments and accrued income 6,458 2,582
Other debtors 55,702 68,079
209,353 151,779
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 8,460 8,425
Trade creditors 65,170 37,685
Corporation tax liability 16,705 10,249
Social security and other tax 1,910 2,839
VAT 18,069 15,206
Pension Liability 478 -
Accrued expenses 4,427 3,701
Director's loan account 96,584 70,473
211,803 148,578
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Page 5
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 18,844 24,910
18,844 24,910
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 8,460 8,425
Later than one year and not later than five years 18,844 24,910
27,304 33,335
27,304 33,335
9. Share Capital
2024 2023
Allotted, called up but not fully paid £ £
95 Ordinary A Shares of £ 1.00 each 95 95
5 Ordinary B Shares of £ 1.00 each 5 5
100 -
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