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IG & JB Flooring Limited
Registered Number:09216793
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2024
IG & JB Flooring Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
09216793
As at 31 March 2024
IG & JB Flooring Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Intangible assets
1,167
3,167
2
Property, plant and equipment
8,769
9,958
3
9,936
13,125
Current assets
Inventories
46,441
50,558
4
Trade and other receivables
50,570
43,479
5
4,178
Cash and cash equivalents
7,090
101,127
101,189
Trade and other payables: amounts falling due within one year
(83,033)
(136,095)
6
18,156
(34,968)
Net current liabilities
Total assets less current liabilities
(25,032)
31,281
Trade and other payables: amounts falling due after more than one year
(24,524)
(10,000)
7
(35,032)
Net assets/liabilities
6,757
Capital and reserves
Called up share capital
20,000
20,000
Retained earnings
(55,032)
(13,243)
(35,032)
6,757
Shareholders' funds
For the year ended 31 March 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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 director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Ian Guffogg Director
Mrs Janis Baklanow Director
These financial statements were approved and authorised for issue by the Board on 04 November 2024 and were signed by:
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4
Registered Number :
09216793
For the year ended 31 March 2024
IG & JB Flooring Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 31 March 2024
IG & JB Flooring Limited
Notes to the Financial Statements
Statutory Information
IG & JB Flooring Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number 09216793.
Principal place of business:
Unit 1A Earl Road
Stanley Green Trading Estate
Cheadle Hulme
SK8 6PT
Registered address:
Horizon House
2 Whiting Street
Sheffield
S8 9QR
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have
been prepared under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of 10 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings
10% Straight line
10% Straight line
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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6
For the year ended 31 March 2024
IG & JB Flooring Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 April 2023
20,000
At 31 March 2024
20,000
Amortisation
At 01 April 2023
16,833
2,000
Charge for year
At 31 March 2024
18,833
Net book value
At 31 March 2024
1,167
At 31 March 2023
3,167
3. Property, plant and equipment
Total
Fixtures and
fittings
Land and buildings
£
£
£
Cost or valuation
At 01 April 2023
11,882
10,632
1,250
At 31 March 2024
1,250
10,632
11,882
Provision for depreciation and impairment
At 01 April 2023
1,924
1,278
646
Charge for year
1,189
1,064
125
At 31 March 2024
3,113
2,342
771
At 31 March 2024
Net book value
479
8,290
8,769
At 31 March 2023
604
9,354
9,958
4. Inventories
2023
2024
£
£
Stocks
50,558
46,441
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7
For the year ended 31 March 2024
IG & JB Flooring Limited
Notes to the Financial Statements Continued
5. Trade and other receivables
2023
2024
£
£
Trade debtors
(971)
2,120
Other debtors
44,450
48,450
50,570
43,479
6. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft (secured)
14,524
16,786
Trade creditors
56,479
16,491
Taxation and social security
5,702
3,139
Other creditors
59,390
46,617
136,095
83,033
7. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
10,000
20,000
Bank loans and overdraft (secured)
-
4,524
10,000
24,524
8. Average number of persons employed
During the year the average number of employees was 4 (2023 : 4)
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