Company registration number 04708549 (England and Wales)
TRADE CARPETS (CLITHEROE) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
TRADE CARPETS (CLITHEROE) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
TRADE CARPETS (CLITHEROE) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
36,478
38,715
Current assets
Stocks
20,000
26,000
Debtors
5
20,553
54,137
Cash at bank and in hand
25,470
57,316
66,023
137,453
Creditors: amounts falling due within one year
6
(64,633)
(126,871)
Net current assets
1,390
10,582
Total assets less current liabilities
37,868
49,297
Creditors: amounts falling due after more than one year
7
(6,116)
(11,218)
Provisions for liabilities
(6,931)
(9,678)
Net assets
24,821
28,401
Capital and reserves
Called up share capital
8
2
2
Profit and loss reserves
24,819
28,399
Total equity
24,821
28,401
TRADE CARPETS (CLITHEROE) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -

For the financial year ended 31 March 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 1 October 2024 and are signed on its behalf by:
Mr J Chappell
Director
Company registration number 04708549 (England and Wales)
TRADE CARPETS (CLITHEROE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Trade Carpets (Clitheroe) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 11d Salthill Industrial Estate, Lincoln Way, Clitheroe, Lancashire, BB7 1QD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors are not aware of any material uncertainties affecting the company and consider that the company will have sufficient resources to continue trading for the foreseeable future. As a result the directors have continued to adopt the going concern basis in preparing the financial statements.true

 

1.3
Turnover
Turnover represents amounts receivable for carpet supplying and fitting net of VAT and trade discounts.
1.4
Intangible fixed assets - goodwill

Acquired goodwill has been written off in equal annual instalments over its estimated useful economic life of ten years.

1.5
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% Straight line
Fixtures, fittings & equipment
15% Reducing balance
Motor vehicles
25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Stocks
Stock is stated at the lower of cost & net realisable value.
1.7
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

TRADE CARPETS (CLITHEROE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
7
6
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
55,000
Amortisation and impairment
At 1 April 2023 and 31 March 2024
55,000
Carrying amount
At 31 March 2024
-
0
At 31 March 2023
-
0
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
92,783
Additions
476
At 31 March 2024
93,259
Depreciation and impairment
At 1 April 2023
54,068
Depreciation charged in the year
2,713
At 31 March 2024
56,781
Carrying amount
At 31 March 2024
36,478
At 31 March 2023
38,715
TRADE CARPETS (CLITHEROE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
5,815
25,838
Other debtors
14,738
28,299
20,553
54,137

Other debtors comprises loans to directors £10,082 (2023: £19,945) and prepayments £4,656 (2023: £8,354).

6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
5,102
4,976
Trade creditors
36,876
100,796
Corporation tax
1,738
1,516
Other taxation and social security
9,531
14,055
Other creditors
11,386
5,528
64,633
126,871

Other creditors comprise accruals £10,434 (2023: £4,319) and pension contributions owing £952 (2023: £1,209)

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
6,116
11,218

The bank loans are a government backed business Bounce Back Loan with £5,102 (2023: £4,976) due within one year, and £6,116 (2023: £11,218) due after more than one year.

8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A share of £1 each
1
1
1
1
Ordinary B share of £1 each
1
1
1
1
2
2
2
2
2024-03-312023-04-01false01 October 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr J ChappellMrs T J S WainMrs F WhiteMs H RackhamMr O WainMr J Chappellfalsefalse047085492023-04-012024-03-31047085492024-03-31047085492023-03-3104708549core:OtherPropertyPlantEquipment2024-03-3104708549core:OtherPropertyPlantEquipment2023-03-3104708549core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3104708549core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3104708549core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3104708549core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3104708549core:CurrentFinancialInstruments2024-03-3104708549core:CurrentFinancialInstruments2023-03-3104708549core:ShareCapital2024-03-3104708549core:ShareCapital2023-03-3104708549core:RetainedEarningsAccumulatedLosses2024-03-3104708549core:RetainedEarningsAccumulatedLosses2023-03-3104708549core:ShareCapitalOrdinaryShares2024-03-3104708549core:ShareCapitalOrdinaryShares2023-03-3104708549bus:CompanySecretaryDirector12023-04-012024-03-3104708549core:Goodwill2023-04-012024-03-3104708549core:PlantMachinery2023-04-012024-03-3104708549core:FurnitureFittings2023-04-012024-03-3104708549core:MotorVehicles2023-04-012024-03-31047085492022-04-012023-03-3104708549core:NetGoodwill2023-03-3104708549core:NetGoodwill2024-03-3104708549core:NetGoodwill2023-03-3104708549core:OtherPropertyPlantEquipment2023-03-3104708549core:OtherPropertyPlantEquipment2023-04-012024-03-3104708549core:Non-currentFinancialInstruments2024-03-3104708549core:Non-currentFinancialInstruments2023-03-3104708549bus:PrivateLimitedCompanyLtd2023-04-012024-03-3104708549bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104708549bus:FRS1022023-04-012024-03-3104708549bus:AuditExemptWithAccountantsReport2023-04-012024-03-3104708549bus:Director12023-04-012024-03-3104708549bus:Director22023-04-012024-03-3104708549bus:Director32023-04-012024-03-3104708549bus:Director42023-04-012024-03-3104708549bus:Director52023-04-012024-03-3104708549bus:CompanySecretary12023-04-012024-03-3104708549bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP