Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-311364false2023-04-01No description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.1112truefalse 01457707 2023-04-01 2024-03-31 01457707 2022-04-01 2023-03-31 01457707 2024-03-31 01457707 2023-03-31 01457707 2022-04-01 01457707 c:Director3 2023-04-01 2024-03-31 01457707 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 01457707 d:Buildings d:ShortLeaseholdAssets 2024-03-31 01457707 d:Buildings d:ShortLeaseholdAssets 2023-03-31 01457707 d:PlantMachinery 2023-04-01 2024-03-31 01457707 d:PlantMachinery 2024-03-31 01457707 d:PlantMachinery 2023-03-31 01457707 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01457707 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 01457707 d:MotorVehicles 2023-04-01 2024-03-31 01457707 d:MotorVehicles 2024-03-31 01457707 d:MotorVehicles 2023-03-31 01457707 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01457707 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 01457707 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01457707 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 01457707 d:CurrentFinancialInstruments 2024-03-31 01457707 d:CurrentFinancialInstruments 2023-03-31 01457707 d:Non-currentFinancialInstruments 2024-03-31 01457707 d:Non-currentFinancialInstruments 2023-03-31 01457707 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 01457707 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01457707 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 01457707 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 01457707 d:ShareCapital 2024-03-31 01457707 d:ShareCapital 2023-03-31 01457707 d:RetainedEarningsAccumulatedLosses 2024-03-31 01457707 d:RetainedEarningsAccumulatedLosses 2023-03-31 01457707 c:FRS102 2023-04-01 2024-03-31 01457707 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01457707 c:FullAccounts 2023-04-01 2024-03-31 01457707 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01457707 d:WithinOneYear 2024-03-31 01457707 d:WithinOneYear 2023-03-31 01457707 d:BetweenOneFiveYears 2024-03-31 01457707 d:BetweenOneFiveYears 2023-03-31 01457707 d:MoreThanFiveYears 2024-03-31 01457707 d:MoreThanFiveYears 2023-03-31 01457707 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 01457707 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 01457707 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 01457707 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 01457707 d:RetirementBenefitObligationsDeferredTax 2024-03-31 01457707 d:RetirementBenefitObligationsDeferredTax 2023-03-31 01457707 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-03-31 01457707 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 01457707 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 01457707










AIZLEWOODS FLOORING SPECIALISTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
AIZLEWOODS FLOORING SPECIALISTS LIMITED
REGISTERED NUMBER: 01457707

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
68,857
80,151

Current assets
  

Stocks
 5 
81,541
70,997

Debtors: amounts falling due within one year
 6 
210,465
224,269

Cash at bank and in hand
  
115,599
59,289

  
407,605
354,555

Creditors: amounts falling due within one year
 7 
(291,213)
(239,404)

Net current assets
  
 
 
116,392
 
 
115,151

Total assets less current liabilities
  
185,249
195,302

Creditors: amounts falling due after more than one year
 8 
(58,490)
(75,217)

Provisions for liabilities
  

Deferred tax
 9 
(8,011)
(9,503)

Net assets
  
118,748
110,582


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
118,648
110,482

  
118,748
110,582


Page 1

 
AIZLEWOODS FLOORING SPECIALISTS LIMITED
REGISTERED NUMBER: 01457707
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 October 2024.





J A Aizlewood
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
AIZLEWOODS FLOORING SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Aizlewoods Flooring Specialists Limited is a private limited Company limited by shares, incorporated in England and Wales (registered number: 01457707). Its registered office is 26 Bailey Street, Sheffield, South Yorkshire, S1 4EH. The principal activity of the Company throughout the year continued to be that of the supply and fitting of commercial and domestic flooring.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue 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:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
AIZLEWOODS FLOORING SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

The depreciation rates used are:

S/Term leasehold property
-
5% straight line
Plant and machinery
-
10 - 20 % reducing balance
Motor vehicles
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Page 4

 
AIZLEWOODS FLOORING SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.7

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.8

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 5

 
AIZLEWOODS FLOORING SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 12).

Page 6

 
AIZLEWOODS FLOORING SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





S/Term leasehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost 


At 1 April 2023
31,198
57,843
68,131
157,172


Additions
-
524
-
524



At 31 March 2024

31,198
58,367
68,131
157,696



Depreciation


At 1 April 2023
10,123
45,641
21,257
77,021


Charge for the year on owned assets
1,364
1,932
94
3,390


Charge for the year on financed assets
-
-
8,428
8,428



At 31 March 2024

11,487
47,573
29,779
88,839



Net book value



At 31 March 2024
19,711
10,794
38,352
68,857



At 31 March 2023
21,075
12,202
46,874
80,151

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
38,072
46,500

Page 7

 
AIZLEWOODS FLOORING SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Stocks

2024
2023
£
£

Raw materials and consumables
75,473
68,913

Work in progress
6,068
2,084

81,541
70,997



6.


Debtors

2024
2023
£
£


Trade debtors
191,176
185,434

Other debtors
19,289
38,835

210,465
224,269



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
5,556
5,556

Trade creditors
116,708
124,380

Corporation tax
17,704
9,378

Other taxation and social security
7,273
7,699

Obligations under finance lease and hire purchase contracts
11,165
11,165

Other creditors
132,807
81,226

291,213
239,404


Included within creditors falling due within one year are secured liabilities in respect of net obligations under finance leases and hire purchase contracts of £11,165 (2023: £11,165). These are secured against the relevant assets.

Page 8

 
AIZLEWOODS FLOORING SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
31,014
36,573

Net obligations under finance leases and hire purchase contracts
27,476
38,644

58,490
75,217


Included within creditors falling due after more than one year are secured liabilities in respect of net obligations under finance leases and hire purchase contracts of £27,719 (2023: £38,644). These are secured against the relevant assets.

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2024
2023
£
£


Repayable by instalments
8,792
14,351




9.


Deferred taxation




2024
2023


£

£






At beginning of year
9,503
7,768


Charged to profit or loss
(1,492)
1,735



At end of year
8,011
9,503

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
8,506
9,992

Tax losses carried forward
(476)
(444)

Pension surplus
(19)
(45)

8,011
9,503

Page 9

 
AIZLEWOODS FLOORING SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,748 (2023 - £6,787). Contributions totalling £248 (2023 - £226) were payable to the fund at the Balance Sheet date and are included in creditors.


11.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
26,072
24,498

Later than 1 year and not later than 5 years
88,965
76,000

Later than 5 years
190,000
209,000

305,037
309,498

 
Page 10