Registered number
09573898
T & H CARPETS LTD
Filleted Accounts
31 May 2024
T & H CARPETS LTD
Registered number: 09573898
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 38,328 18,924
Current assets
Stocks 145,740 138,051
Debtors 4 299,327 333,225
Cash at bank and in hand 13,483 10,181
458,550 481,457
Creditors: amounts falling due within one year 5 (207,428) (204,429)
Net current assets 251,122 277,028
Total assets less current liabilities 289,450 295,952
Creditors: amounts falling due after more than one year 6 (2,802) (32,802)
Net assets 286,648 263,150
Capital and reserves
Called up share capital 100 100
Profit and loss account 286,548 263,050
Shareholder's funds 286,648 263,150
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
AISHA PATEL
Director
Approved by the board on 14 July 2024
T & H CARPETS LTD
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under 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 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 31,531
Additions 25,065
At 31 May 2024 56,596
Depreciation
At 1 June 2023 12,608
Charge for the year 5,660
At 31 May 2024 18,268
Net book value
At 31 May 2024 38,328
At 31 May 2023 18,923
4 Debtors 2024 2023
£ £
Trade debtors 221,647 218,165
Other debtors (Inter company Loans) 77,680 115,060
299,327 333,225
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 169,227 175,443
Corporation tax 6,092 6,812
Other creditors 32,109 22,174
207,428 204,429
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans Bounce Back Loan - 30,000
Directors Loan 2,802 2,802
2,802 32,802
7 Directors Loan Balance
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
AISHA PATEL 3,085 - (283) 2,802
3,085 - (283) 2,802
8 Related party transactions
The company loaned the following sums to companies under the control of the director and their spouse.
IAP Holdings Ltd - £105,500
ALM Cars Ltd - £8719
9 Controlling party
Aisha Patel retains full control of the company by virtue of her owning the majority of the issued share capital.
8 Outlets.
The company currently operates 2 outlets from Heckmondwike and Wakefield.
10 Other information
T & H CARPETS LTD is a private company limited by shares and incorporated in England. Its registered office is:
16 WALKLEY LANE
HECKMONDWIKE
WF16 0NB
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