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Company Registration No. 05632497 (England and Wales)
Hull Carpets & Flooring Limited Unaudited accounts for the year ended 31 January 2024
Hull Carpets & Flooring Limited Unaudited accounts Contents
Page
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Hull Carpets & Flooring Limited Company Information for the year ended 31 January 2024
Director
Mr C A Lee
Secretary
Mrs A G Lee
Company Number
05632497 (England and Wales)
Registered Office
Unit 12 Station Yard Cottingham East Yorkshire HU16 4LL East Yorkshire
Accountants
Kendall Accountancy Services Limited 2 Exeter Street New Village Road Cottingham East Yorkshire HU16 4LU
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Hull Carpets & Flooring Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,213 
6,755 
Current assets
Debtors
24,052 
22,257 
Cash at bank and in hand
8,100 
3,278 
32,152 
25,535 
Creditors: amounts falling due within one year
(21,719)
(19,000)
Net current assets
10,433 
6,535 
Total assets less current liabilities
15,646 
13,290 
Creditors: amounts falling due after more than one year
(7,792)
(12,935)
Provisions for liabilities
Deferred tax
(40)
(200)
Net assets
7,814 
155 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
7,714 
55 
Shareholders' funds
7,814 
155 
For the year ending 31 January 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 March 2024 and were signed on its behalf by
Mr C A Lee Director Company Registration No. 05632497
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Hull Carpets & Flooring Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Hull Carpets & Flooring Limited is a private company, limited by shares, registered in England and Wales, registration number 05632497. The registered office is Unit 12, Station Yard, Cottingham, East Yorkshire, HU16 4LL, East Yorkshire.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% WDV
Fixtures & fittings
25% Cost
Computer equipment
25% Cost
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Hull Carpets & Flooring Limited Notes to the Accounts for the year ended 31 January 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 February 2023
10,872 
834 
1,101 
12,807 
At 31 January 2024
10,872 
834 
1,101 
12,807 
Depreciation
At 1 February 2023
4,618 
417 
1,017 
6,052 
Charge for the year
1,251 
208 
83 
1,542 
At 31 January 2024
5,869 
625 
1,100 
7,594 
Net book value
At 31 January 2024
5,003 
209 
1 
5,213 
At 31 January 2023
6,254 
417 
84 
6,755 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
3,324 
1,401 
Amounts due from group undertakings etc.
20,102 
20,102 
Accrued income and prepayments
626 
754 
24,052 
22,257 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
5,500 
5,857 
VAT
2,109 
1,100 
Obligations under finance leases and hire purchase contracts
- 
1,186 
Trade creditors
5,061 
4,514 
Taxes and social security
4,440 
3,037 
Other creditors
776 
2,455 
Loans from directors
3,833 
(2,625)
Deferred income
- 
3,476 
21,719 
19,000 
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Hull Carpets & Flooring Limited Notes to the Accounts for the year ended 31 January 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
7,792 
12,935 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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