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REGISTERED NUMBER: 04558785 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

J S Carpets Limited

J S Carpets Limited (Registered number: 04558785)






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


J S Carpets Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr J H Sutton





SECRETARY: Mrs C R Sutton





REGISTERED OFFICE: Northfield House
Shurdington Road
Bentham
Cheltenham
Gloucestershire
GL51 4UA





BUSINESS ADDRESS: Mill Pond Street
Ross-on-Wye
Herefordshire
HR9 7AP





REGISTERED NUMBER: 04558785 (England and Wales)





ACCOUNTANTS: ARC & Co. Accountants Limited
Northfield House
Shurdington Road
Bentham
Cheltenham
Gloucestershire
GL51 4UA

J S Carpets Limited (Registered number: 04558785)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,028 4,237

CURRENT ASSETS
Stocks 5 60,714 90,333
Debtors 6 337,406 297,648
Cash at bank 16,383 43,226
414,503 431,207
CREDITORS
Amounts falling due within one year 7 205,901 202,983
NET CURRENT ASSETS 208,602 228,224
TOTAL ASSETS LESS CURRENT
LIABILITIES

247,630

232,461

CREDITORS
Amounts falling due after more than one
year

8

(23,442

)

(68,662

)

PROVISIONS FOR LIABILITIES 9 (8,063 ) -
NET ASSETS 216,125 163,799

CAPITAL AND RESERVES
Called up share capital 10 3 3
Retained earnings 11 216,122 163,796
SHAREHOLDERS' FUNDS 216,125 163,799

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 director acknowledges his 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.

J S Carpets Limited (Registered number: 04558785)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 November 2024 and were signed by:





Mr J H Sutton - Director


J S Carpets Limited (Registered number: 04558785)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

J S Carpets 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 - 20% on reducing balance
Fixtures and fittings - 6% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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 and deferred tax. Tax is recognised in the Income Statement, 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

J S Carpets Limited (Registered number: 04558785)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 19,967 9,221 20,000 18,784 67,972
Additions 37,000 - 8,333 - 45,333
At 31 March 2024 56,967 9,221 28,333 18,784 113,305
DEPRECIATION
At 1 April 2023 17,435 7,516 20,000 18,784 63,735
Charge for year 7,906 553 2,083 - 10,542
At 31 March 2024 25,341 8,069 22,083 18,784 74,277
NET BOOK VALUE
At 31 March 2024 31,626 1,152 6,250 - 39,028
At 31 March 2023 2,532 1,705 - - 4,237

5. STOCKS
31.3.24 31.3.23
£    £   
Stocks 60,714 90,333

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Other debtors 337,406 297,648

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other loans 45,220 43,000
Trade creditors 103,591 46,149
Corporation tax 35,726 51,480
Social security and other taxes 2,595 11,529
VAT 7,785 40,054
Directors' current accounts 8,484 8,271
Accrued expenses 2,500 2,500
205,901 202,983

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Other loans 23,442 68,662

J S Carpets Limited (Registered number: 04558785)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 8,063 -

Deferred
tax
£   
Charge to Income Statement during year 8,063
Balance at 31 March 2024 8,063

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
3 Ordinary £1 3 3

11. RESERVES
Retained
earnings
£   

At 1 April 2023 163,796
Profit for the year 77,326
Dividends (25,000 )
At 31 March 2024 216,122

12. RELATED PARTY DISCLOSURES

During the year the director, Mr J H Sutton, made net deposits to his account of £213. The balance on his account at 31 March 2024 was £8,484 in credit (2023 - £8,271).

13. ULTIMATE CONTROLLING PARTY

The director acknowledges that there is no ultimate controlling party as no individual holds a majority of the company's issued share capital.