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REGISTERED NUMBER: 04406513














Unaudited Financial Statements for the Year Ended 31 March 2024

for

New Homes Carpeting Limited

New Homes Carpeting Limited (Registered number: 04406513)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


New Homes Carpeting Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr R S Freedman
Mr J Freedman
Mrs J Freedman
Mr N J Hutson





REGISTERED OFFICE: The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY





REGISTERED NUMBER: 04406513





ACCOUNTANTS: Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

New Homes Carpeting Limited (Registered number: 04406513)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,285,496 789,557

CURRENT ASSETS
Stocks 24,581 17,233
Debtors 5 2,184,423 1,181,171
Cash at bank 876,919 2,021,203
3,085,923 3,219,607
CREDITORS
Amounts falling due within one year 6 1,055,163 932,492
NET CURRENT ASSETS 2,030,760 2,287,115
TOTAL ASSETS LESS CURRENT LIABILITIES 3,316,256 3,076,672

CREDITORS
Amounts falling due after more than one
year

7

(158,443

)

(207,068

)

PROVISIONS FOR LIABILITIES (84,390 ) (102,765 )
NET ASSETS 3,073,423 2,766,839

CAPITAL AND RESERVES
Called up share capital 1,001 1,001
Revaluation reserve 8 535,000 -
Retained earnings 2,537,422 2,765,838
3,073,423 2,766,839

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 directors acknowledge their 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.

New Homes Carpeting Limited (Registered number: 04406513)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:





Mr R S Freedman - Director


New Homes Carpeting Limited (Registered number: 04406513)

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

1. STATUTORY INFORMATION

New Homes Carpeting Limited is a private company, limited by shares , registered in Not specified/Other. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Plant and machinery etc - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor Vehicles - 25% on reducing balance
Computer equipment - 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 Income Statement, 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.

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.

New Homes Carpeting Limited (Registered number: 04406513)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 25 (2023 - 23 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 340,228 999,286 1,339,514
Additions - 135,532 135,532
Revaluations 535,000 - 535,000
At 31 March 2024 875,228 1,134,818 2,010,046
DEPRECIATION
At 1 April 2023 117,482 432,475 549,957
Charge for year 6,682 167,911 174,593
At 31 March 2024 124,164 600,386 724,550
NET BOOK VALUE
At 31 March 2024 751,064 534,432 1,285,496
At 31 March 2023 222,746 566,811 789,557

Cost or valuation at 31 March 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2024 535,000 - 535,000
Cost 340,228 1,134,818 1,475,046
875,228 1,134,818 2,010,046

New Homes Carpeting Limited (Registered number: 04406513)

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

4. TANGIBLE FIXED ASSETS - continued

If freehold land and buildings had not been revalued it would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 710,246 -
Aggregate depreciation 242,004 -

Value of land in freehold land and buildings 468,242 -

Freehold land and buildings were valued on an open market basis on 31 March 2024 by R Freedman .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 1 April 2023 198,855
Additions 57,490
At 31 March 2024 256,345
DEPRECIATION
At 1 April 2023 84,131
Charge for year 82,353
At 31 March 2024 166,484
NET BOOK VALUE
At 31 March 2024 89,861
At 31 March 2023 114,724

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,869,651 769,167
Amounts owed by group undertakings - 82,619
Amounts owed by associates 82,619 -
Other debtors 232,153 329,385
2,184,423 1,181,171

New Homes Carpeting Limited (Registered number: 04406513)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 43,636 41,868
Hire purchase contracts 45,460 35,233
Trade creditors 585,222 481,949
Amounts owed to associates 5,500 -
Taxation and social security 210,036 237,967
Other creditors 165,309 135,475
1,055,163 932,492

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 95,315 130,044
Hire purchase contracts 63,128 77,024
158,443 207,068

8. RESERVES
Revaluation
reserve
£   
Revaluation reserve 535,000

At 31 March 2024 535,000