2023-04-01 04143210 2024-03-31 04143210 2023-04-01 2024-03-31 04143210 2023-03-31 04143210 2022-04-01 2023-03-31 04143210 uk-core:WithinOneYear 2023-03-31 04143210 uk-core:WithinOneYear 2024-03-31 04143210 uk-core:AfterOneYear 2023-03-31 04143210 uk-core:AfterOneYear 2024-03-31 04143210 uk-core:ShareCapital 2024-03-31 04143210 uk-core:ShareCapital 2023-03-31 04143210 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 04143210 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 04143210 uk-bus:Director1 2023-04-01 2024-03-31 04143210 uk-bus:Director2 2023-04-01 2024-03-31 04143210 uk-core:LandBuildings 2023-04-01 2024-03-31 04143210 uk-core:PlantMachinery 2023-04-01 2024-03-31 04143210 uk-core:MotorVehicles 2023-04-01 2024-03-31 04143210 uk-core:FurnitureFittings 2023-04-01 2024-03-31 04143210 uk-core:FurnitureFittings 2023-03-31 04143210 uk-core:MotorVehicles 2023-03-31 04143210 uk-core:PlantMachinery 2023-03-31 04143210 uk-core:LandBuildings 2023-03-31 04143210 uk-core:PlantMachinery 2024-03-31 04143210 uk-core:MotorVehicles 2024-03-31 04143210 uk-core:FurnitureFittings 2024-03-31 04143210 uk-core:LandBuildings 2024-03-31 04143210 uk-core:CostValuation 2023-03-31 04143210 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2023-03-31 04143210 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2024-03-31 04143210 uk-core:CostValuation 2024-03-31 04143210 uk-core:Non-currentFinancialInstruments 2024-03-31 04143210 uk-core:Non-currentFinancialInstruments 2023-03-31 iso4217:GBP xbrli:pure 04143210 uk-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04143210 uk-bus:FRS102 2023-04-01 2024-03-31 04143210 uk-bus:FilletedAccounts 2023-04-01 2024-03-31 04143210 uk-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31
Majestic Floors Limited
Registered Number:04143210
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2024
Majestic Floors Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
04143210
As at 31 March 2024
Majestic Floors Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
535,238
567,921
2
Financial assets
5,148
5,148
3
540,386
573,069
Current assets
Inventories
69,517
105,000
4
Trade and other receivables
132,500
103,065
5
276,743
Cash and cash equivalents
222,132
430,197
478,760
Trade and other payables: amounts falling due within one
year
(178,804)
(145,867)
6
299,956
284,330
Net current assets
Total assets less current liabilities
824,716
873,025
Trade and other payables: amounts falling due after more
than one year
(49,185)
(44,417)
7
780,299
Net assets
823,840
Capital and reserves
Called up share capital
108
108
Retained earnings
780,191
823,732
780,299
823,840
Shareholders' funds
For the 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 ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Derrick Pilkington Director
Mrs Tina Louise Pilkington Director
These financial statements were approved and authorised for issue by the Board on 07 October 2024 and were signed by:
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4
Registered Number :
04143210
For the year ended 31 March 2024
Majestic Floors Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 31 March 2024
Majestic Floors Limited
Notes to the Financial Statements
Statutory Information
Majestic Floors Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 04143210.
Registered address:
231 Liverpool Road
Southport
Merseyside
PR8 4PH
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover represents amounts receivable for services. Amounts receivable for services performed over time are based upon the stage of completion of the services performed.
Property, plant and equipment
Property, plant and equipment, 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
Tools & equipment
20% Reducing balance
20% Reducing balance
Motor vehicles
20% Reducing balance
Fixtures, fittings & equipment
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Inventories
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.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
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6
For the year ended 31 March 2024
Majestic Floors Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Fixtures,
fittings &
equipment
Motor vehicles
Tools &
equipment
Land and
buildings
£
£
£
£
£
Cost or
valuation
At 01 April 2023
800,732
69,733
186,100
62,914
481,985
9,451
1,041
-
444
7,966
Additions
-
(18,625)
-
-
Disposals
(18,625)
At 31 March 2024
63,358
167,475
70,774
791,558
489,951
Provision for depreciation and impairment
At 01 April 2023
232,811
52,567
77,234
38,127
64,883
Charge for year
39,790
3,641
21,304
5,047
9,798
(16,281)
-
(16,281)
-
-
On disposal
At 31 March 2024
256,320
56,208
82,257
43,174
74,681
At 31 March 2024
Net book value
415,270
20,184
85,218
14,566
535,238
At 31 March 2023
417,102
24,787
108,866
17,166
567,921
1
3. Investments held as fixed assets
Other investments
Total
At 01 April 2023
5,148
5,148
Cost
£
£
At 31 March 2024
5,148
5,148
At 31 March 2024
Net book value
5,148
5,148
At 01 April 2023
5,148
5,148
4. Inventories
2023
2024
£
£
Stocks
105,000
69,517
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7
For the year ended 31 March 2024
Majestic Floors Limited
Notes to the Financial Statements Continued
5. Trade and other receivables
2023
2024
£
£
Trade debtors
95,881
126,969
Other debtors
7,184
5,531
132,500
103,065
6. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Trade creditors
69,541
68,823
Taxation and social security
57,360
97,163
Other creditors
18,966
12,818
145,867
178,804
7. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Other creditors
44,417
49,185
8. Average number of persons employed
During the year the average number of employees was 11 (2023 : 12)
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