Registered number
10963420
F & F CARPETS LTD
Filleted Accounts
30 September 2024
F & F CARPETS LTD
Registered number: 10963420
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 7,562 3,965
Current assets
Stocks 34,200 27,280
Debtors 4 4,638 10,064
Cash at bank and in hand 69,346 68,434
108,184 105,778
Creditors: amounts falling due within one year 5 (52,113) (39,484)
Net current assets 56,071 66,294
Total assets less current liabilities 63,633 70,259
Creditors: amounts falling due after more than one year 6 516 (134)
Net assets 64,149 70,125
Capital and reserves
Called up share capital 100 100
Profit and loss account 64,049 70,025
Shareholders' funds 64,149 70,125
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
FAROOQ ADAM
Director
Approved by the board on 29 October 2024
F & F CARPETS LTD
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years
Fixtures, fittings, tools and equipment over 10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 9,035
At 30 September 2024 14,035
Depreciation
At 1 October 2023 5,070
Charge for the year 1,403
At 30 September 2024 6,473
Net book value
At 30 September 2024 7,562
At 30 September 2023 3,965
4 Debtors 2024 2023
£ £
Trade debtors 4,638 10,064
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 31,138 21,213
Taxation and social security costs 4,653 9,666
Other creditors 16,322 8,605
52,113 39,484
6 Creditors: amounts falling due after one year 2024 2023
£ £
Directors Loan (516) 134
7 Controlling party
The company is under the ultimate control of the Directors by virtue of them owning 100% of the shared capital.
8 Other information
F & F CARPETS LTD is a private company limited by shares and incorporated in England. Its registered office is:
98-100 BRADFORD ROAD
DEWSBURY
WF13 2DF
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