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Registration number: 08430941

Saint Flooring South Limited

Unaudited Financial Statements

for the Year Ended 30 January 2024

 

Saint Flooring South Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Saint Flooring South Limited

(Registration number: 08430941)
Balance Sheet as at 30 January 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

723

Tangible assets

5

221,153

248,323

 

221,153

249,046

Current assets

 

Stocks

6

243,845

211,071

Debtors

7

1,770,621

2,075,726

Cash at bank and in hand

 

866,877

980,369

 

2,881,343

3,267,166

Creditors: Amounts falling due within one year

8

(1,405,283)

(1,497,335)

Net current assets

 

1,476,060

1,769,831

Total assets less current liabilities

 

1,697,213

2,018,877

Creditors: Amounts falling due after more than one year

8

(107,170)

(6,686)

Provisions for liabilities

(39,368)

(43,145)

Net assets

 

1,550,675

1,969,046

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,550,575

1,968,946

Shareholders' funds

 

1,550,675

1,969,046

 

Saint Flooring South Limited

(Registration number: 08430941)
Balance Sheet as at 30 January 2024

For the financial year ending 30 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 October 2024 and signed on its behalf by:
 

.........................................
Ms G Worth
Director

 

Saint Flooring South Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 21B Little End Road
Eaton Socon
St Neots
PE19 8JH
England

These financial statements were authorised for issue by the Board on 16 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements have been prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

 

Saint Flooring South Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 January 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Improvements to property

10% reducing balance

Furniture, fittings and equipment

20% reducing balance

Motor vehicles

25% reducing balance

Plant and machinery

15% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Computer software

Straight line over 4 years

 

Saint Flooring South Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 January 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Saint Flooring South Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 January 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 26 (2023 - 23).

4

Intangible assets

Computer software
£

Total
£

Cost or valuation

At 31 January 2023

2,888

2,888

At 30 January 2024

2,888

2,888

Amortisation

At 31 January 2023

2,165

2,165

Amortisation charge

723

723

At 30 January 2024

2,888

2,888

Carrying amount

At 30 January 2024

-

-

At 30 January 2023

723

723

 

Saint Flooring South Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 January 2024

5

Tangible assets

Improvements to property
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 31 January 2023

94,153

62,899

319,815

-

476,867

Additions

-

-

159,085

852

159,937

Disposals

-

-

(262,848)

-

(262,848)

At 30 January 2024

94,153

62,899

216,052

852

373,956

Depreciation

At 31 January 2023

23,398

37,166

167,980

-

228,544

Charge for the year

7,075

5,147

45,387

128

57,737

Eliminated on disposal

-

-

(133,478)

-

(133,478)

At 30 January 2024

30,473

42,313

79,889

128

152,803

Carrying amount

At 30 January 2024

63,680

20,586

136,163

724

221,153

At 30 January 2023

70,755

25,733

151,835

-

248,323

Net book value of motor vehicles held under hire purchase amounts to £126,455 (2023: £136,036)

 

Saint Flooring South Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 January 2024

6

Stocks

2024
£

2023
£

Other inventories

243,845

211,071

7

Debtors

2024
£

2023
£

Trade debtors

1,731,012

1,799,957

Prepayments

31,354

58,041

Other debtors

8,255

217,728

1,770,621

2,075,726

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Hire purchase

28,296

153,015

Trade creditors

 

486,612

545,272

Amounts owed to related parties

9

119,321

153,486

Taxation and social security

 

663,359

533,140

Accruals and deferred income

 

64,898

3,125

Other creditors

 

42,797

109,297

 

1,405,283

1,497,335

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Hire purchase

107,170

6,686

Hire purchase liabilities are secured against the asset to which they relate.

National Westminster Bank PLC have a fixed and floating charge over all the property or undertakings of the company which was created on 26th April 2020.

 

Saint Flooring South Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 January 2024

9

Related party transactions

During the period the company made purchases of £360,700 (2023: £448,996) from a company under common control. At the balance sheet date £119,321 (2023: £153,468) owed by the company to a related party. Amounts due are interest free and repayable on demand.