REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE PERIOD 31 OCTOBER 2022 TO 29 OCTOBER 2023 |
FOR |
RIDING FLOORS LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE PERIOD 31 OCTOBER 2022 TO 29 OCTOBER 2023 |
FOR |
RIDING FLOORS LIMITED |
RIDING FLOORS LIMITED (REGISTERED NUMBER: 00995389) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 31 OCTOBER 2022 TO 29 OCTOBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
RIDING FLOORS LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 31 OCTOBER 2022 TO 29 OCTOBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
First Floor, Unit 12 |
Pennine Business Park |
Longbow Close, Bradley |
Huddersfield |
West Yorkshire |
HD2 1GQ |
RIDING FLOORS LIMITED (REGISTERED NUMBER: 00995389) |
BALANCE SHEET |
29 OCTOBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stock and Work in Progress |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Profit and loss account |
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. |
RIDING FLOORS LIMITED (REGISTERED NUMBER: 00995389) |
BALANCE SHEET - continued |
29 OCTOBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
RIDING FLOORS LIMITED (REGISTERED NUMBER: 00995389) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 31 OCTOBER 2022 TO 29 OCTOBER 2023 |
1. | STATUTORY INFORMATION |
Riding Floors Limited is a |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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 |
Fixtures and fittings | - |
Motor vehicles | - |
STOCKS |
Stock and work in progress 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 period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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. |
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. |
RIDING FLOORS LIMITED (REGISTERED NUMBER: 00995389) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 OCTOBER 2022 TO 29 OCTOBER 2023 |
2. | ACCOUNTING POLICIES - continued |
INCOME RECOGNITION |
Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them. |
HIRE PURCHASE AND LEASING COMMITMENTS |
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the leases. The benefits of lease incentives are recognised in the profit and loss account over the shorter of the lease period and the period to the next rent review at which the rent is expected to be reset to market rates. |
GOVERNMENT GRANTS |
Government grants related to the Job Retention scheme are recognised in the profit and loss account in the period necessary to match the grant with the related costs that they are intended to compensate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 31 October 2022 |
Additions |
At 29 October 2023 |
DEPRECIATION |
At 31 October 2022 |
Charge for period |
At 29 October 2023 |
NET BOOK VALUE |
At 29 October 2023 |
At 30 October 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
RIDING FLOORS LIMITED (REGISTERED NUMBER: 00995389) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 OCTOBER 2022 TO 29 OCTOBER 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2022 2021 |
£ £ |
Within one year 13,404 13,404 |
Between one and five years 40,212 53,616 |
53,616 67,020 |
8. | RELATED PARTY TRANSACTIONS |
Mr Christopher Paul Wallace and Mrs Jayne Anne Wallace have control over a majority of shares in the company, and together with their involvement in its day-to-day management, are deemed to be the controlling parties for the purposes of Financial Reporting Standard No.102. |
Creditors falling due within one year includes the following directors' loans: |
2023 | 2022 |
£ | £ |
Christopher Paul Wallace and Jayne Anne Wallace |
927 |
1,772 |
David Wallace | 79,027 | 58,527 |
Daniel Keith Ambler | 13,735 | 13,255 |
93,689 | 73,554 |
The company occupies premises owned by the Riding Floors Limited SSAS.The rent paid by the company to the pension scheme in the period ended 29th October 2023 was £13,404 (2022 : £13,404) |
RIDING FLOORS LIMITED (REGISTERED NUMBER: 00995389) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 OCTOBER 2022 TO 29 OCTOBER 2023 |
9. | PENSION COMMITMENTS |
The company operates a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund and amounted to £30,474 (2022:£28,641) Contributions totalling £2,490 (2022: £2,533) were payable to the fund at the year end and are included in creditors. |