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REGISTERED NUMBER: 13298035 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

ART OF FLOORING LIMITED

ART OF FLOORING LIMITED (REGISTERED NUMBER: 13298035)






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


ART OF FLOORING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P De Wet
Mrs L De Wet





REGISTERED OFFICE: 141 Milton Road
Cambridge
United Kingdom
CB4 1XE





REGISTERED NUMBER: 13298035 (England and Wales)





ACCOUNTANTS: Prentis & Co LLP
Chartered Accountants
115c Milton Road
Cambridge
CB4 1XE

ART OF FLOORING LIMITED (REGISTERED NUMBER: 13298035)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,948 29,962

CURRENT ASSETS
Stocks 5 48,732 19,666
Debtors 6 36,907 52,886
Cash at bank 56,033 45,059
141,672 117,611
CREDITORS
Amounts falling due within one year 7 96,964 109,221
NET CURRENT ASSETS 44,708 8,390
TOTAL ASSETS LESS CURRENT
LIABILITIES

83,656

38,352

CREDITORS
Amounts falling due after more than one
year

8

(46,493

)

(49,020

)

PROVISIONS FOR LIABILITIES (7,360 ) -
NET ASSETS/(LIABILITIES) 29,803 (10,668 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 29,703 (10,768 )
29,803 (10,668 )

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.

ART OF FLOORING LIMITED (REGISTERED NUMBER: 13298035)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by:




P De Wet - Director



Mrs L De Wet - Director


ART OF FLOORING LIMITED (REGISTERED NUMBER: 13298035)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Art Of Flooring 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 (£).


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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% 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 tax 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 and 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

ART OF FLOORING LIMITED (REGISTERED NUMBER: 13298035)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 5,900 7,633 37,053 1,838 52,424
Additions - - 18,394 - 18,394
At 31 March 2024 5,900 7,633 55,447 1,838 70,818
DEPRECIATION
At 1 April 2023 2,581 3,250 16,211 420 22,462
Charge for year 830 1,096 7,127 355 9,408
At 31 March 2024 3,411 4,346 23,338 775 31,870
NET BOOK VALUE
At 31 March 2024 2,489 3,287 32,109 1,063 38,948
At 31 March 2023 3,319 4,383 20,842 1,418 29,962

5. STOCKS
2024 2023
£    £   
Stocks 48,732 19,666

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 24,282 50,885
Amounts owed by group undertakings 3,413 1,278
Other debtors 1,757 723
Prepayments 7,455 -
36,907 52,886

ART OF FLOORING LIMITED (REGISTERED NUMBER: 13298035)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bounce back loan 6,888 7,000
Hire purchase contracts 10,859 7,011
Trade creditors 51,417 57,313
Tax 1,041 -
Social security and other taxes 2,018 3,545
VAT 15,365 21,146
Other creditors 7,756 11,706
Accruals and deferred income 1,620 1,500
96,964 109,221

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bounce back loan 29,446 35,226
Hire purchase contracts 17,047 13,794
46,493 49,020

9. ULTIMATE CONTROLLING PARTY

The controlling parties are P De Wet and L De Wet by virtue of their joint ownership of 90% of the issued share capital.