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REGISTERED NUMBER: 10505370 (England and Wales)















Exacto Flooring Limited

Unaudited Financial Statements for the Year Ended 31 December 2023






Exacto Flooring Limited (Registered number: 10505370)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Exacto Flooring Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs P Edwards
L B Edwards





REGISTERED OFFICE: 5 London Road
Rainham
Gillingham
Kent
ME8 7RG





BUSINESS ADDRESS: 31 Edgewater
St Marys Island
Chatham
Kent
ME4 3AS





REGISTERED NUMBER: 10505370 (England and Wales)





ACCOUNTANTS: Aggarwal & Co Limited
Chartered Accountants
5 London Road
Rainham
Gillingham
Kent
ME8 7RG

Exacto Flooring Limited (Registered number: 10505370)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 58,479 36,166

CURRENT ASSETS
Debtors 5 141,183 110,686
Cash at bank 180,685 107,014
321,868 217,700
CREDITORS
Amounts falling due within one year 6 133,244 106,391
NET CURRENT ASSETS 188,624 111,309
TOTAL ASSETS LESS CURRENT LIABILITIES 247,103 147,475

CREDITORS
Amounts falling due after more than one
year

7

(30,550

)

(36,319

)

PROVISIONS FOR LIABILITIES (12,118 ) (6,872 )
NET ASSETS 204,435 104,284

CAPITAL AND RESERVES
Called up share capital 210 210
Retained earnings 204,225 104,074
SHAREHOLDERS' FUNDS 204,435 104,284

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Exacto Flooring Limited (Registered number: 10505370)

Statement of Financial Position - continued
31 December 2023


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 7 June 2024 and were signed on its behalf by:





Mrs P Edwards - Director


Exacto Flooring Limited (Registered number: 10505370)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Exacto Flooring Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Income recognition
Income represents the fair value of consideration received or receivable derived from the provision of goods and services to customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, usually on the rendering of an invoice.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 25% on reducing balance

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Exacto Flooring Limited (Registered number: 10505370)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 58,462
Additions 46,033
Disposals (14,000 )
At 31 December 2023 90,495
DEPRECIATION
At 1 January 2023 22,296
Charge for year 14,970
Eliminated on disposal (5,250 )
At 31 December 2023 32,016
NET BOOK VALUE
At 31 December 2023 58,479
At 31 December 2022 36,166

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 14,008 970
Amounts recoverable on contracts 13,010 10,888
Other debtors 114,165 98,828
141,183 110,686

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,267 7,728
Trade creditors 22,667 46,412
Taxation and social security 95,707 48,255
Other creditors 6,603 3,996
133,244 106,391

Exacto Flooring Limited (Registered number: 10505370)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 30,550 36,319

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 5,172 7,250

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan - 7,797

The bank loan with Barclays bank is secured by personal guarantee from P E Edwards, a director.