Registered number
08617168
J C Carpets & Beds Limited
Report & Accounts
31 July 2024
J C Carpets & Beds Limited
Registered number: 08617168
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 24,389 11,042
Current assets
Stocks 4,000 20,000
Debtors 4 4,127 1,839
Cash at bank and in hand 15,972 5
24,099 21,844
Creditors: amounts falling due within one year 5 (43,566) (35,275)
Net current assets(liabilities) (19,467) (13,431)
Total assets less current liabilities 4,922 (2,389)
Creditors: amounts falling due after more than one year 6 (17,224) (5,500)
Net assets/(liabilities) (12,302) (7,889)
Capital and reserves
Called up share capital 100 100
Profit and loss account (12,402) (7,989)
Shareholders' funds (12,302) (7,889)
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.
Mr C Francis
Director
Approved by the board on 26 October 2024
J C Carpets & Beds Limited
Notes to the Accounts
for the year ended 31 July 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.
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:
Motor Vehicles 25% Reducing Balance
Plant and machinery 25% Reducing Balance
Fixtures, fittings, tools and equipment 25% Reducing Balance
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Office equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 1,765 20,833 37,476 60,074
Additions - 474 21,005 21,479
At 31 July 2024 1,765 21,307 58,481 81,553
Depreciation
At 1 August 2023 1,343 16,595 31,094 49,032
Charge for the year 106 1,179 6,847 8,132
At 31 July 2024 1,449 17,774 37,941 57,164
Net book value
At 31 July 2024 316 3,533 20,540 24,389
At 31 July 2023 422 4,238 6,382 11,042
4 Debtors 2024 2023
£ £
Trade debtors 2,661 1,839
Other debtors 1,466 -
4,127 1,839
5 Creditors: amounts falling due within one year 2024 2023
£ £
Directors Loan Account 13,390 7,885
Bank loans and overdrafts 3,000 3,667
Obligations under finance lease and hire purchase contracts 3,841 -
Trade creditors 13,713 14,662
Corporation tax - 484
Other taxes and social security costs 6,378 5,217
Other creditors 3,244 3,360
43,566 35,275
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,500 5,500
Obligations under finance lease and hire purchase contracts 14,724 -
17,224 5,500
7 Other information
J C Carpets & Beds Limited is a private company limited by shares and incorporated in England. Its registered office is:
Gwr Station Yard
Fisherton Street
Salisbury
Wiltshire
SP2 7RL
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