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REGISTERED NUMBER: 13703503 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Carpet Sheen Limited

Carpet Sheen Limited (Registered number: 13703503)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Carpet Sheen Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: S J Young
D T Young
A G Young





SECRETARY: S J Young





REGISTERED OFFICE: Airport House Suite 43 - 45
Purley Way
Croydon
Surrey
CR0 0XZ





REGISTERED NUMBER: 13703503 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

Carpet Sheen Limited (Registered number: 13703503)

Balance Sheet
31 October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 14,535 1,805

CURRENT ASSETS
Debtors 5 919 1,430
Cash at bank 1,504 2,568
2,423 3,998
CREDITORS
Amounts falling due within one year 6 (27,008 ) (8,814 )
NET CURRENT LIABILITIES (24,585 ) (4,816 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(10,050

)

(3,011

)

PROVISIONS FOR LIABILITIES 8 (2,762 ) (343 )
NET LIABILITIES (12,812 ) (3,354 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 (12,912 ) (3,454 )
(12,812 ) (3,354 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

Carpet Sheen Limited (Registered number: 13703503)

Balance Sheet - continued
31 October 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:





S J Young - Director


Carpet Sheen Limited (Registered number: 13703503)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Carpet Sheen Limited 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 (£).


The principal activity of the company was that of carpet cleaning.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & Machinery25% on 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.

FINANCIAL INSTRUMENTS
The company only enters into basic financial instrument that results in recognition of financial asset and liabilities such as trade and other debtors and creditors, loan from banks and other third parties, loan to related parties and investment in non- puttable ordinary shares.

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 is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

Carpet Sheen Limited (Registered number: 13703503)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

LEASES
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

GOING CONCERN
At the balance sheet date, liabilities exceed assets by £12,812 (2022 - £3,354). However the financial statements have been prepared on a going concern basis as the company has the continuing support from its directors and shareholder.The directors are therefore satisfied that the financial statements have been correctly prepared on the going concern basis.

PROVISION FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of income and retained earning in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 November 2022 2,369
Additions 13,559
At 31 October 2023 15,928
DEPRECIATION
At 1 November 2022 564
Charge for year 829
At 31 October 2023 1,393
NET BOOK VALUE
At 31 October 2023 14,535
At 31 October 2022 1,805

Carpet Sheen Limited (Registered number: 13703503)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 919 1,430

The directors consider the carrying value of trade and other receivables approximate to their fair value.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 1,092 1,205
Taxation and social security - 191
Other creditors 25,916 7,418
27,008 8,814

The directors consider the carrying amounts of current liabilities approximate to their fair values.

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 3,930 5,236
Between one and five years - 3,927
3,930 9,163

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 2,762 343

Deferred
tax
£   
Balance at 1 November 2022 343
Provided during year 2,419
Balance at 31 October 2023 2,762

9. RESERVES

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

Carpet Sheen Limited (Registered number: 13703503)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

10. RELATED PARTY DISCLOSURES

As at the balance sheet date included in other debtors were amount of £781 (2022 - £981) due from the director D T Young. This loan is interest free and repaid at post year end.

As at the balance sheet date included in other creditors were amounts of £6,192 (2022 - £5,000) due to the director S J Young. This loan is interest free and repayable on demand.

As at the balance sheet date included in other creditors were amounts of £17,143 (2022 - £231 included in other debtors) due to the director A G Young. This loan is interest free and repayable on demand.

As at the balance sheet date, included in creditors is an amount due to Oven Sheen Ltd of 1,092 (2022- £1,205) an associate company having common director and shareholders.