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REGISTERED NUMBER: 01687815 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

FLOOR RESTORATIONS LIMITED

FLOOR RESTORATIONS LIMITED (REGISTERED NUMBER: 01687815)






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

Accountants' Report 7

FLOOR RESTORATIONS LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: Mrs F D Walker
Mrs R M Williams
J J Walker





SECRETARY:





REGISTERED OFFICE: Unit 25 Monkspath Business Park, Highlan
Shirley
Solihull
West Midlands
B90 4NZ





REGISTERED NUMBER: 01687815 (England and Wales)





ACCOUNTANTS: Hayers Chartered Certified Accountants
121 Livery Street
Birmingham
West Midlands
B3 1RS

FLOOR RESTORATIONS LIMITED (REGISTERED NUMBER: 01687815)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,186,370 975,608

CURRENT ASSETS
Stocks 379,186 344,181
Debtors 5 1,983,759 1,425,498
Cash at bank and in hand 120,640 69,838
2,483,585 1,839,517
CREDITORS
Amounts falling due within one year 6 2,291,262 1,593,733
NET CURRENT ASSETS 192,323 245,784
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,378,693

1,221,392

CREDITORS
Amounts falling due after more than one year 7 690,357 597,516
NET ASSETS 688,336 623,876

CAPITAL AND RESERVES
Called up share capital 150 150
Share premium 4,950 4,950
Retained earnings 683,236 618,776
688,336 623,876

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.

FLOOR RESTORATIONS LIMITED (REGISTERED NUMBER: 01687815)

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 Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:





J J Walker - Director


FLOOR RESTORATIONS LIMITED (REGISTERED NUMBER: 01687815)

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

1. STATUTORY INFORMATION

Floor Restorations 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.
Land and buildings - at varying rates on cost
Plant and machinery etc - 33% on cost, 15% on cost, 15% on reducing balance and 10% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

FLOOR RESTORATIONS LIMITED (REGISTERED NUMBER: 01687815)

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

2. ACCOUNTING POLICIES - continued

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 42 (2023 - 38 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 598,182 1,216,207 1,814,389
Additions - 486,462 486,462
Disposals - (164,388 ) (164,388 )
At 31 March 2024 598,182 1,538,281 2,136,463
DEPRECIATION
At 1 April 2023 418,271 420,510 838,781
Charge for year 11,964 186,834 198,798
Eliminated on disposal - (87,486 ) (87,486 )
At 31 March 2024 430,235 519,858 950,093
NET BOOK VALUE
At 31 March 2024 167,947 1,018,423 1,186,370
At 31 March 2023 179,911 795,697 975,608

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,173,065 708,535
Other debtors 810,694 716,963
1,983,759 1,425,498

FLOOR RESTORATIONS LIMITED (REGISTERED NUMBER: 01687815)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 99,981 59,247
Hire purchase contracts 96,428 116,071
Trade creditors 567,670 480,926
Taxation and social security 449,343 299,152
Other creditors 1,077,840 638,337
2,291,262 1,593,733

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 21,667 31,667
Hire purchase contracts 507,652 282,514
Other creditors 161,038 283,335
690,357 597,516

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FLOOR RESTORATIONS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Floor Restorations Limited for the year ended 31 March 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As practising members of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Floor Restorations Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Floor Restorations Limited and state those matters that we have agreed to state to the Board of Directors of Floor Restorations Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Floor Restorations Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Floor Restorations Limited. You consider that Floor Restorations Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Floor Restorations Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hayers Chartered Certified Accountants
121 Livery Street
Birmingham
West Midlands
B3 1RS


Date: .............................................