Company registration number 04637690 (England and Wales)
WOOD FLOORING SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
WOOD FLOORING SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
WOOD FLOORING SERVICES LIMITED (REGISTERED NUMBER: 04637690)
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
129,738
49,807
Current assets
Debtors
4
109,221
135,927
Cash at bank and in hand
509
70,406
109,730
206,333
Creditors: amounts falling due within one year
5
(59,420)
(71,999)
Net current assets
50,310
134,334
Total assets less current liabilities
180,048
184,141
Provisions for liabilities
(12,947)
(11,844)
Net assets
167,101
172,297
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
167,001
172,197
Total equity
167,101
172,297

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

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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved and signed by the director and authorised for issue on 10 October 2024
Mr S Follington
Director
WOOD FLOORING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Wood Flooring Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19-21 Swan Street, West Malling, Kent, ME19 6JU.

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 £1.

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

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of consideration received or receivable for the goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. The following criteria must also be met before turnover is recognised.

Turnover for the sale of goods is recognised when all of the following conditions are met:

 

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

 

1.4
Tangible fixed assets

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

WOOD FLOORING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -

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:

Land and buildings Freehold
5% Straight Line
Plant and machinery
25% Reducing Balance
Fixtures, fittings & equipment
25% Reducing Balance
Computer equipment
25% 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.

1.5
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

2
Employees

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

 

 

2024
2023
Number
Number
Total
2
2
WOOD FLOORING SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
3
Tangible fixed assets
Land and buildings Freehold
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2023
-
0
40,742
2,962
9,252
62,722
115,678
Additions
89,866
3,764
-
0
1,437
-
0
95,067
At 31 March 2024
89,866
44,506
2,962
10,689
62,722
210,745
Depreciation and impairment
At 1 April 2023
-
0
21,728
2,851
3,505
37,787
65,871
Depreciation charged in the year
1,754
5,439
28
1,681
6,234
15,136
At 31 March 2024
1,754
27,167
2,879
5,186
44,021
81,007
Carrying amount
At 31 March 2024
88,112
17,339
83
5,503
18,701
129,738
At 31 March 2023
-
0
19,014
111
5,747
24,935
49,807
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
101,247
134,390
Other debtors
7,974
1,537
109,221
135,927
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
3,707
-
0
Trade creditors
1,890
1,710
Taxation and social security
9,393
31,899
Other creditors
44,430
38,390
59,420
71,999
2024-03-312023-04-01false10 October 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr S FollingtonMrs B A Mellettfalse046376902023-04-012024-03-31046376902024-03-31046376902023-03-3104637690core:LandBuildingscore:OwnedOrFreeholdAssets2024-03-3104637690core:PlantMachinery2024-03-3104637690core:FurnitureFittings2024-03-3104637690core:ComputerEquipment2024-03-3104637690core:MotorVehicles2024-03-3104637690core:LandBuildingscore:OwnedOrFreeholdAssets2023-03-3104637690core:PlantMachinery2023-03-3104637690core:FurnitureFittings2023-03-3104637690core:ComputerEquipment2023-03-3104637690core:MotorVehicles2023-03-3104637690core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3104637690core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3104637690core:CurrentFinancialInstruments2024-03-3104637690core:CurrentFinancialInstruments2023-03-3104637690core:ShareCapital2024-03-3104637690core:ShareCapital2023-03-3104637690core:RetainedEarningsAccumulatedLosses2024-03-3104637690core:RetainedEarningsAccumulatedLosses2023-03-3104637690bus:Director12023-04-012024-03-3104637690core:LandBuildingscore:OwnedOrFreeholdAssets2023-04-012024-03-3104637690core:PlantMachinery2023-04-012024-03-3104637690core:FurnitureFittings2023-04-012024-03-3104637690core:ComputerEquipment2023-04-012024-03-3104637690core:MotorVehicles2023-04-012024-03-31046376902022-04-012023-03-3104637690core:LandBuildingscore:OwnedOrFreeholdAssets2023-03-3104637690core:PlantMachinery2023-03-3104637690core:FurnitureFittings2023-03-3104637690core:ComputerEquipment2023-03-3104637690core:MotorVehicles2023-03-31046376902023-03-3104637690core:WithinOneYear2024-03-3104637690core:WithinOneYear2023-03-3104637690bus:PrivateLimitedCompanyLtd2023-04-012024-03-3104637690bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104637690bus:FRS1022023-04-012024-03-3104637690bus:AuditExemptWithAccountantsReport2023-04-012024-03-3104637690bus:CompanySecretary12023-04-012024-03-3104637690bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP