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REGISTERED NUMBER: 01118744 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2024

FOR

PICA FLOORINGS LIMITED

PICA FLOORINGS LIMITED (REGISTERED NUMBER: 01118744)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PICA FLOORINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTOR: S W Mears





SECRETARY: Mrs G Mears





REGISTERED OFFICE: Unit 6
M11 Business Link
Stansted
Essex
CM24 8GF





REGISTERED NUMBER: 01118744 (England and Wales)





ACCOUNTANTS: RP Accounting
Crinoline House
Common Road
East Tuddenham
Dereham
Norfolk
NR20 3NF

PICA FLOORINGS LIMITED (REGISTERED NUMBER: 01118744)

BALANCE SHEET
31ST MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 146,863 110,408

CURRENT ASSETS
Inventories 182,468 178,180
Debtors 5 1,937,157 1,508,505
Cash at bank and in hand 81,459 199,319
2,201,084 1,886,004
CREDITORS
Amounts falling due within one year 6 771,118 539,623
NET CURRENT ASSETS 1,429,966 1,346,381
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,576,829

1,456,789

PROVISIONS FOR LIABILITIES 2,431 7,466
NET ASSETS 1,574,398 1,449,323

CAPITAL AND RESERVES
Called up share capital 60 60
Other reserves 40 40
Retained earnings 1,574,298 1,449,223
SHAREHOLDERS' FUNDS 1,574,398 1,449,323

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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.

PICA FLOORINGS LIMITED (REGISTERED NUMBER: 01118744)

BALANCE SHEET - continued
31ST MAY 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 25th October 2024 and were signed by:





S W Mears - Director


PICA FLOORINGS LIMITED (REGISTERED NUMBER: 01118744)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024

1. STATUTORY INFORMATION

Pica Floorings 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
Revenue 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 - 25% on reducing balance and 20% on reducing balance

Stocks
Inventories 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 19 ) .

PICA FLOORINGS LIMITED (REGISTERED NUMBER: 01118744)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1st June 2023 332,664
Additions 103,324
Disposals (34,600 )
At 31st May 2024 401,388
DEPRECIATION
At 1st June 2023 222,256
Charge for year 52,272
Eliminated on disposal (20,003 )
At 31st May 2024 254,525
NET BOOK VALUE
At 31st May 2024 146,863
At 31st May 2023 110,408

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 1,034,322 712,049
Other debtors 902,835 796,456
1,937,157 1,508,505

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 375,620 314,482
Taxation and social security 174,670 107,309
Other creditors 220,828 117,832
771,118 539,623

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S W Mears who owns 50% of the ordinary shares in the company and is also Chairman.