Company Registration No. 12145675 (England and Wales)
Courts Flooring Ltd
Unaudited accounts
for the year ended 31 August 2024
Courts Flooring Ltd
Unaudited accounts
Contents
Courts Flooring Ltd
Company Information
for the year ended 31 August 2024
Directors
Matthew Philip Boyd Court
Emily Charlotte Felicity Court
Company Number
12145675 (England and Wales)
Registered Office
Unit 4
Trade Plas Buildings
Stroud Road
Nailsworth
Stroud
GL6 0BE
England
Accountants
Next Level Accountants Limited
35 Goddard Way
Tuffley
Gloucester
Gloucestershire
GL4 0YA
Courts Flooring Ltd
Statement of financial position
as at 31 August 2024
Tangible assets
41,780
25,184
Cash at bank and in hand
11,548
1,276
Creditors: amounts falling due within one year
(44,512)
(37,277)
Net current assets/(liabilities)
23,061
(1,005)
Total assets less current liabilities
64,841
24,179
Creditors: amounts falling due after more than one year
(22,170)
(7,000)
Provisions for liabilities
Deferred tax
(7,938)
(4,785)
Called up share capital
100
100
Profit and loss account
34,633
12,294
Shareholders' funds
34,733
12,394
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
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
Matthew Philip Boyd Court
Director
Company Registration No. 12145675
Courts Flooring Ltd
Notes to the Accounts
for the year ended 31 August 2024
Courts Flooring Ltd is a private company, limited by shares, registered in England and Wales, registration number 12145675. The registered office is Unit 4, Trade Plas Buildings, Stroud Road, Nailsworth, Stroud, GL6 0BE, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
The accounts are presented in £ sterling.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Motor vehicles
20% Straight Line
Fixtures & fittings
20% Straight Line
Computer equipment
25% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Courts Flooring Ltd
Notes to the Accounts
for the year ended 31 August 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2023
23,250
12,388
1,041
36,679
Additions
28,990
990
-
29,980
At 31 August 2024
52,240
13,378
1,041
66,659
At 1 September 2023
8,150
2,825
520
11,495
Charge for the year
10,448
2,676
260
13,384
At 31 August 2024
18,598
5,501
780
24,879
At 31 August 2024
33,642
7,877
261
41,780
At 31 August 2023
15,100
9,563
521
25,184
Amounts falling due within one year
Trade debtors
41,025
24,950
Courts Flooring Ltd
Notes to the Accounts
for the year ended 31 August 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
5,436
4,000
Obligations under finance leases and hire purchase contracts
2,079
-
Taxes and social security
4,432
-
Loans from directors
3,587
13,129
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
19,170
-
8
Average number of employees
During the year the average number of employees was 7 (2023: 5).