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Registered number: 10929489
DE Flooring Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Tony R Pomfret & Associates
37a High Street
Hoddesdon
EN11 8TA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10929489
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,261 4,478
3,261 4,478
CURRENT ASSETS
Stocks 5 6,000 2,000
Debtors 6 9,667 15,019
Cash at bank and in hand 40,390 107,245
56,057 124,264
Creditors: Amounts Falling Due Within One Year 7 (4,155 ) (31,593 )
NET CURRENT ASSETS (LIABILITIES) 51,902 92,671
TOTAL ASSETS LESS CURRENT LIABILITIES 55,163 97,149
PROVISIONS FOR LIABILITIES
Deferred Taxation (815 ) (1,120 )
NET ASSETS 54,348 96,029
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 54,248 95,929
SHAREHOLDERS' FUNDS 54,348 96,029
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For the year ending 31 August 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Davy Edmee
Director
04/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
DE Flooring Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10929489 . The registered office is 37a High Street, Hoddesdon, Herts, EN11 8TA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 20% Straight Line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 September 2023 11,890 1,792 13,682
As at 31 August 2024 11,890 1,792 13,682
Depreciation
As at 1 September 2023 8,128 1,076 9,204
Provided during the period 940 277 1,217
As at 31 August 2024 9,068 1,353 10,421
Net Book Value
As at 31 August 2024 2,822 439 3,261
As at 1 September 2023 3,762 716 4,478
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5. Stocks
2024 2023
£ £
Materials 6,000 2,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 8,777 14,343
Other debtors 890 676
9,667 15,019
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 54 277
Other creditors 1,263 20,055
Taxation and social security 2,838 11,261
4,155 31,593
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
Directors' Loan Accounts

Directors' Loan Accounts

At the balance sheet date, the company owed £162  (2023 - £16,365) to Mr D Edmee and Miss V Coulber, who are directors and shareholders of the company.
10. Ultimate Controlling Party
The company's ultimate controlling party is Mr D Edmee by virtue of his ownership of 99% of the issued share capital in the company.
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