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REGISTERED NUMBER: 04491882 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

KARPET KINGDOM (COVENTRY) LIMITED

KARPET KINGDOM (COVENTRY) LIMITED (REGISTERED NUMBER: 04491882)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KARPET KINGDOM (COVENTRY) LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: D Cooney
D M Roddie
C Wilkins





REGISTERED OFFICE: 1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB





REGISTERED NUMBER: 04491882 (England and Wales)





ACCOUNTANTS: LDP Luckmans
Chartered Accountants
1110 Elliott Court
Herald Avenue
Coventry Business Park
Coventry
West Midlands
CV5 6UB

KARPET KINGDOM (COVENTRY) LIMITED (REGISTERED NUMBER: 04491882)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 9,377 11,382
9,377 11,382

CURRENT ASSETS
Stocks 73,904 58,914
Debtors 6 277,105 244,439
Cash at bank and in hand 61,107 41,749
412,116 345,102
CREDITORS
Amounts falling due within one year 7 159,344 124,073
NET CURRENT ASSETS 252,772 221,029
TOTAL ASSETS LESS CURRENT
LIABILITIES

262,149

232,411

CREDITORS
Amounts falling due after more than one
year

8

(15,000

)

(25,000

)

PROVISIONS FOR LIABILITIES (2,345 ) (2,163 )
NET ASSETS 244,804 205,248

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 10 243,804 204,248
SHAREHOLDERS' FUNDS 244,804 205,248

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.

KARPET KINGDOM (COVENTRY) LIMITED (REGISTERED NUMBER: 04491882)

BALANCE SHEET - 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 25 September 2024 and were signed on its behalf by:





D M Roddie - Director


KARPET KINGDOM (COVENTRY) LIMITED (REGISTERED NUMBER: 04491882)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Karpet Kingdom (Coventry) 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.


KARPET KINGDOM (COVENTRY) LIMITED (REGISTERED NUMBER: 04491882)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 250,000
AMORTISATION
At 1 January 2023
and 31 December 2023 250,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

KARPET KINGDOM (COVENTRY) LIMITED (REGISTERED NUMBER: 04491882)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 11,185 22,313 3,500 36,998
DEPRECIATION
At 1 January 2023 8,329 16,762 525 25,616
Charge for year 428 833 744 2,005
At 31 December 2023 8,757 17,595 1,269 27,621
NET BOOK VALUE
At 31 December 2023 2,428 4,718 2,231 9,377
At 31 December 2022 2,856 5,551 2,975 11,382

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 68,592 39,195
Karpet Kingdom (Nuneaton) Ltd 12,357 12,777
Karpet Kingdom (Holbrooks) Ltd 170,215 170,215
KK Daventry 3,000 -
Karpet Kingdom (Banbury) Ltd 8,926 12,264
Karpet Kingdom (Bedworth) Ltd - 3,144
Prepayments 14,015 6,844
277,105 244,439

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 56,961 51,676
Tax 25,102 9,189
Social security and other taxes 3,118 4,369
Net Wages 22 -
VAT 21,695 18,793
Other creditors - 1,133
Ringway Midland Ltd 1,472 1,472
Karpet Kingdom (Rugby) Ltd 14,887 14,915
Karpet Kingdom (Leamington) Ltd 3,299 3,258
Karpet Kingdom (Bedworth) Ltd 766 -
Karpet Kingdom (Warwick) Ltd 13,745 2,662
Directors' loan accounts 1,690 1,690
Accrued expenses 6,587 4,916
159,344 124,073

KARPET KINGDOM (COVENTRY) LIMITED (REGISTERED NUMBER: 04491882)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 5,000 15,000
15,000 25,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. RESERVES
Retained
earnings
£   

At 1 January 2023 204,248
Profit for the year 78,423
Dividends (38,867 )
At 31 December 2023 243,804