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Registered Number: 01057494
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 December 2023

for

LEIGHTONS CARPETS (HULL) LIMITED

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 897,607    917,676 
897,607    917,676 
Current assets      
Stocks 5 94,552    101,526 
Debtors 6 22,457    59,410 
Cash at bank and in hand 143,512    146,556 
260,521    307,492 
Creditors: amount falling due within one year 7 (447,062)   (421,977)
Net current assets (186,541)   (114,485)
 
Total assets less current liabilities 711,066    803,191 
Creditors: amount falling due after more than one year 8 (275,047)   (333,303)
Provisions for liabilities 9 (11,902)   (41,629)
Net assets 424,117    428,259 
 

Capital and reserves
     
Called up share capital 1,000    1,000 
Reserves 10 422,122    422,122 
Profit and loss account 995    5,137 
Shareholders' funds 424,117    428,259 
 


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 24 September 2024 and were signed on its behalf by:


-------------------------------
Neal Booker
Director
1
General Information
Leightons Carpets (Hull) Limited is a private company, limited by shares, registered in England and Wales, registration number 01057494, registration address 510/512 Hessle Road , Kingston Upon , Hull , HU3 5BQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
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.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
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 2% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
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 16 (2022 : 16).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 January 2023 20,000    20,000 
Additions  
Disposals  
At 31 December 2023 20,000    20,000 
Amortisation
At 01 January 2023 20,000    20,000 
Charge for year  
On disposals  
At 31 December 2023 20,000    20,000 
Net book values
At 31 December 2023  
At 31 December 2022  


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 January 2023 850,000    38,891    274,907    1,163,798 
Additions      
Disposals   (14,500)     (14,500)
At 31 December 2023 850,000    24,391    274,907    1,149,298 
Depreciation
At 01 January 2023   17,887    228,236    246,123 
Charge for year   2,645    7,001    9,646 
On disposals   (4,078)     (4,078)
At 31 December 2023   16,454    235,237    251,691 
Net book values
Closing balance as at 31 December 2023 850,000    7,937    39,670    897,607 
Opening balance as at 01 January 2023 850,000    21,004    46,672    917,676 


5.

Stocks

2023
£
  2022
£
Stocks 94,552    101,526 
94,552    101,526 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 20,238    47,191 
Prepayments & Accrued Income 2,219    12,219 
22,457    59,410 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 83,379    106,112 
Bank Loans & Overdrafts 57,817    21,817 
Corporation Tax 18,803    17,151 
PAYE & Social Security 51,175    109,995 
Accrued Expenses 158,989    118,450 
Other Creditors 71,818    38,725 
Obligations under HP/Financial Leases 5,023    9,669 
Directors' Current Accounts 58    58 
447,062    421,977 

8.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 30,546    54,546 
Other Creditors 242,909    269,409 
Obligations Under HP/Financial Leases 1,592    9,348 
275,047    333,303 

9.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 41,629    32,433 
Charged to Profit & Loss (29,727)   9,196 
11,902    41,629 

10.

Reserves

2023
£
  2022
£
Revaluation Reserve b/fwd 422,122    422,122 
422,122    422,122 

2