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REGISTERED NUMBER: 08857612 (England and Wales)













Unaudited Financial Statements for the Year Ended 31 March 2024

for

Crucial Flooring Solutions Ltd

Crucial Flooring Solutions Ltd (Registered number: 08857612)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Crucial Flooring Solutions Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: P G Brookes





REGISTERED OFFICE: Unit 21A/22A John Samuel Building
Arthur Drive
Hoo Farm Industrial Estate
Kidderminster
Worcestershire
DY11 7RA





REGISTERED NUMBER: 08857612 (England and Wales)





ACCOUNTANTS: Wilkes Tranter & Co Limited
Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Crucial Flooring Solutions Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Director's Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Crucial Flooring Solutions Ltd for the year ended 31 March 2024 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Crucial Flooring Solutions Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Crucial Flooring Solutions Ltd and state those matters that we have agreed to state to the director of Crucial Flooring Solutions Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Crucial Flooring Solutions Ltd and its director for our work or for this report.

It is your duty to ensure that Crucial Flooring Solutions Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Crucial Flooring Solutions Ltd. You consider that Crucial Flooring Solutions Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Crucial Flooring Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wilkes Tranter & Co Limited
Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS


8 October 2024

Crucial Flooring Solutions Ltd (Registered number: 08857612)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 107,477 91,718
107,477 91,718

CURRENT ASSETS
Stocks 47,530 73,062
Debtors 6 306,526 122,715
Cash at bank 140,794 211,661
494,850 407,438
CREDITORS
Amounts falling due within one year 7 (258,233 ) (208,171 )
NET CURRENT ASSETS 236,617 199,267
TOTAL ASSETS LESS CURRENT
LIABILITIES

344,094

290,985

CREDITORS
Amounts falling due after more than
one year

8

(60,548

)

(44,368

)

PROVISIONS FOR LIABILITIES (26,870 ) (22,930 )
NET ASSETS 256,676 223,687

CAPITAL AND RESERVES
Called up share capital 300 100
Retained earnings 256,376 223,587
256,676 223,687

Crucial Flooring Solutions Ltd (Registered number: 08857612)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

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 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 October 2024 and were signed by:





P G Brookes - Director


Crucial Flooring Solutions Ltd (Registered number: 08857612)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Crucial Flooring Solutions Ltd 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 2014, is being amortised evenly over its estimated useful life of three 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 - 25% on reducing balance
Fixtures, fittings and equipment - Straight line over 3 years and 4 years
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 Profit and Loss Account, 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.


Crucial Flooring Solutions Ltd (Registered number: 08857612)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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 6 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 5,000
AMORTISATION
At 1 April 2023
and 31 March 2024 5,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Crucial Flooring Solutions Ltd (Registered number: 08857612)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Plant and and Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 April 2023 5,840 23,697 116,547 146,084
Additions 7,750 1,007 37,995 46,752
Disposals (5,500 ) - (19,832 ) (25,332 )
At 31 March 2024 8,090 24,704 134,710 167,504
DEPRECIATION
At 1 April 2023 4,708 15,425 34,233 54,366
Charge for year 1,038 4,345 21,298 26,681
Eliminated on disposal (4,644 ) - (16,376 ) (21,020 )
At 31 March 2024 1,102 19,770 39,155 60,027
NET BOOK VALUE
At 31 March 2024 6,988 4,934 95,555 107,477
At 31 March 2023 1,132 8,272 82,314 91,718

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 263,328 35,163
Other debtors 43,198 87,552
306,526 122,715

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,213 9,957
Hire purchase contracts 11,127 4,557
Trade creditors 83,765 36,672
Taxation and social security 152,346 91,774
Other creditors 782 65,211
258,233 208,171

Crucial Flooring Solutions Ltd (Registered number: 08857612)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 12,237 22,450
Hire purchase contracts 48,311 21,918
60,548 44,368

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the company made a loan to S Knowles. The loan was unsecured and repayable on demand. Interest was charged at the official rate of interest. The amount outstanding at 31 March 2024 was £19,888 (2023 - £43,006).

During the year the company made a loan to P G Brookes. The loan was unsecured and repayable on demand. Interest was charged at the official rate of interest. The amount outstanding at 31 March 2024 was £54 (2023 - £30,518).