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REGISTERED NUMBER: 10415504 (England and Wales)


















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

VERSATILE FLOORING LIMITED

VERSATILE FLOORING LIMITED (REGISTERED NUMBER: 10415504)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


VERSATILE FLOORING LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: M S Menlove
K Menlove





REGISTERED OFFICE: 9 Alexanders Walk
Caterham
Surrey
CR3 6DT





REGISTERED NUMBER: 10415504 (England and Wales)





ACCOUNTANTS: CLS Accountants Limited
Chartered Certified Accountants
2 Rythe Close
Esher
Surrey
KT10 9DD

VERSATILE FLOORING LIMITED (REGISTERED NUMBER: 10415504)

STATEMENT OF FINANCIAL POSITION
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,737 21,313

CURRENT ASSETS
Debtors 5 74,360 71,170
Cash at bank 222,735 313,432
297,095 384,602
CREDITORS
Amounts falling due within one year 6 39,553 62,973
NET CURRENT ASSETS 257,542 321,629
TOTAL ASSETS LESS CURRENT
LIABILITIES

273,279

342,942

PROVISIONS FOR LIABILITIES 2,990 5,328
NET ASSETS 270,289 337,614

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 270,189 337,514
SHAREHOLDERS' FUNDS 270,289 337,614

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.

VERSATILE FLOORING LIMITED (REGISTERED NUMBER: 10415504)

STATEMENT OF FINANCIAL POSITION - 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 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 28 October 2024 and were signed on its behalf by:





M S Menlove - Director


VERSATILE FLOORING LIMITED (REGISTERED NUMBER: 10415504)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Versatile 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.

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 etc - 33% on cost and 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

VERSATILE FLOORING LIMITED (REGISTERED NUMBER: 10415504)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 55,341
DEPRECIATION
At 1 April 2023 34,028
Charge for year 5,576
At 31 March 2024 39,604
NET BOOK VALUE
At 31 March 2024 15,737
At 31 March 2023 21,313

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 67,560 17,263
Amounts recoverable on contract - 19,015
Other debtors 6,800 34,892
74,360 71,170

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 17,898 15,501
Taxation and social security 4,234 26,352
Other creditors 17,421 21,120
39,553 62,973