IRIS Accounts Production v24.2.0.383 10248975 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false true false 171 67 780 720 624 616 327 171 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh102489752023-01-31102489752024-01-31102489752023-02-012024-01-31102489752022-01-31102489752022-02-012023-01-31102489752023-01-3110248975ns15:EnglandWales2023-02-012024-01-3110248975ns14:PoundSterling2023-02-012024-01-3110248975ns10:Director12023-02-012024-01-3110248975ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3110248975ns10:SmallEntities2023-02-012024-01-3110248975ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3110248975ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3110248975ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3110248975ns10:FullAccounts2023-02-012024-01-3110248975ns10:EntityHasNeverTraded2023-02-012024-01-311024897542ns10:Director22023-01-311024897542ns10:Director22022-01-311024897542ns10:Director22023-02-012024-01-311024897542ns10:Director22022-02-012023-01-311024897542ns10:Director22024-01-311024897542ns10:Director22023-01-3110248975ns10:Director22023-02-012024-01-3110248975ns10:RegisteredOffice2023-02-012024-01-3110248975ns5:CurrentFinancialInstruments2024-01-3110248975ns5:CurrentFinancialInstruments2023-01-3110248975ns5:Non-currentFinancialInstruments2024-01-3110248975ns5:Non-currentFinancialInstruments2023-01-3110248975ns5:ShareCapital2024-01-3110248975ns5:ShareCapital2023-01-3110248975ns5:RetainedEarningsAccumulatedLosses2024-01-3110248975ns5:RetainedEarningsAccumulatedLosses2023-01-3110248975ns5:MotorVehicles2023-02-012024-01-3110248975ns5:ComputerEquipment2023-02-012024-01-3110248975ns5:MotorVehicles2023-01-3110248975ns5:ComputerEquipment2023-01-3110248975ns5:MotorVehicles2024-01-3110248975ns5:ComputerEquipment2024-01-3110248975ns5:MotorVehicles2023-01-3110248975ns5:ComputerEquipment2023-01-3110248975ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3110248975ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3110248975ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-01-3110248975ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-01-3110248975ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-01-3110248975ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-01-3110248975ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3110248975ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3110248975ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-01-3110248975ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-01-3110248975ns5:HirePurchaseContracts2024-01-3110248975ns5:HirePurchaseContracts2023-01-3110248975ns5:WithinOneYear2024-01-3110248975ns5:WithinOneYear2023-01-3110248975ns5:BetweenOneFiveYears2024-01-3110248975ns5:BetweenOneFiveYears2023-01-3110248975ns5:AllPeriods2024-01-3110248975ns5:AllPeriods2023-01-31102489751ns10:Director12023-01-31102489751ns10:Director12022-01-31102489751ns10:Director12023-02-012024-01-31102489751ns10:Director12022-02-012023-01-31102489751ns10:Director12024-01-31102489751ns10:Director12023-01-31
REGISTERED NUMBER: 10248975 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 January 2024

for

The Flooring Place Ltd

The Flooring Place Ltd (Registered number: 10248975)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


The Flooring Place Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: Mrs S M Hollis
D C Hollis





REGISTERED OFFICE: 16 Sinhurst Road
Camberley
Surrey
GU15 3AW





REGISTERED NUMBER: 10248975 (England and Wales)





ACCOUNTANTS: Butt Miller
Chartered Accountants
1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY

The Flooring Place Ltd (Registered number: 10248975)

Statement of Financial Position
31 January 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,964 7,730

CURRENT ASSETS
Stocks 5 8,295 29,040
Debtors 6 16,427 29,674
Cash at bank and in hand 4,056 18,868
28,778 77,582
CREDITORS
Amounts falling due within one year 7 (29,380 ) (50,102 )
NET CURRENT (LIABILITIES)/ASSETS (602 ) 27,480
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,362

35,210

CREDITORS
Amounts falling due after more than one
year

8

(15,027

)

(26,547

)

PROVISIONS FOR LIABILITIES (483 ) (1,313 )
NET (LIABILITIES)/ASSETS (12,148 ) 7,350

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings (12,198 ) 7,300
SHAREHOLDERS' FUNDS (12,148 ) 7,350

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

The Flooring Place Ltd (Registered number: 10248975)

Statement of Financial Position - continued
31 January 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 4 October 2024 and were signed on its behalf by:





D C Hollis - Director


The Flooring Place Ltd (Registered number: 10248975)

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


1. STATUTORY INFORMATION

The Flooring Place 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on cost
Computer equipment - 33.33% on cost

Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Work in progress reflects the accrual of the right to consideration by reference to the value of the work performed.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Operating leases
Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease.

The Flooring Place Ltd (Registered number: 10248975)

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


2. ACCOUNTING POLICIES - continued

Going concern
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Hire purchase
Assets obtained under hire purchase contracts are capitalised in the Statement of Financial Position. Those held under hire purchase contracts are depreciated over their estimated useful lives.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 11,795 2,040 13,835
Disposals - (1,458 ) (1,458 )
At 31 January 2024 11,795 582 12,377
DEPRECIATION
At 1 February 2023 4,882 1,223 6,105
Charge for year 2,949 481 3,430
Eliminated on disposal - (1,122 ) (1,122 )
At 31 January 2024 7,831 582 8,413
NET BOOK VALUE
At 31 January 2024 3,964 - 3,964
At 31 January 2023 6,913 817 7,730

5. STOCKS
2024 2023
£    £   
Stocks 5,000 5,000
Work in progress 3,295 24,040
8,295 29,040

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,632 20,768
Other debtors 10,179 8,109
Directors' current accounts 327 171
Prepayments 289 626
16,427 29,674

The Flooring Place Ltd (Registered number: 10248975)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 1,521 1,359
Trade creditors 1,719 -
Tax 9,014 18,147
VAT 4,561 4,942
Accrued expenses 2,565 15,654
29,380 50,102

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 3,325 13,325
Hire purchase contracts (see note 9) 1,702 3,222
15,027 26,547

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 1,521 1,359
Between one and five years 1,702 3,222
3,223 4,581

Non-cancellable operating leases
2024 2023
£    £   
Within one year 13,000 13,000
Between one and five years 18,417 31,417
31,417 44,417

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 3,223 4,581

The hire purchase contracts were secured on the assets held under these contracts.

The Flooring Place Ltd (Registered number: 10248975)

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


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
D C Hollis and Mrs S M Hollis
Balance outstanding at start of year 171 67
Amounts advanced 780 720
Amounts repaid (624 ) (616 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 327 171

Loans are unsecured, interest free and repayable on demand.