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Company Registration No. 06422717 (England and Wales)
Right Floors Limited Unaudited accounts for the year ended 30 November 2023
Right Floors Limited Unaudited accounts Contents
Page
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Right Floors Limited Company Information for the year ended 30 November 2023
Director
Arshad Iqbal
Company Number
06422717 (England and Wales)
Registered Office
Unit 11, Langley Terace Industrial Estat Latimer Road Luton Bedfordshire LU1 3XQ
Accountants
IAB Accountants Limited 200 Selbourne Road Luton Bedfordshire LU4 8LT
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Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Right Floors Limited for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Right Floors Limited for the year ended 30 November 2023 as set out on pages 5 - 8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of Right Floors Limited, as a body, in accordance with the terms of our engagement letter dated 16 November 2020. Our work has been undertaken solely to prepare for your approval the accounts of Right Floors Limited and state those matters that we have agreed to state to the Board of Directors of Right Floors Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Right Floors Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Right Floors Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Right Floors Limited. You consider that Right Floors 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 accounts of Right Floors 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 accounts.
IAB Accountants Limited Chartered Certified Accountants 200 Selbourne Road Luton Bedfordshire LU4 8LT 18 November 2024
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Right Floors Limited Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
17,922 
3,714 
Current assets
Inventories
11,465 
13,225 
Debtors
4,533 
7,490 
Cash at bank and in hand
11,856 
6,343 
27,854 
27,058 
Creditors: amounts falling due within one year
(32,884)
(7,593)
Net current (liabilities)/assets
(5,030)
19,465 
Total assets less current liabilities
12,892 
23,179 
Provisions for liabilities
Deferred tax
(3,354)
- 
Net assets
9,538 
23,179 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
9,536 
23,177 
Shareholders' funds
9,538 
23,179 
For the year ending 30 November 2023 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 November 2024 and were signed on its behalf by
Arshad Iqbal Director Company Registration No. 06422717
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Right Floors Limited Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
Right Floors Limited is a private company, limited by shares, registered in England and Wales, registration number 06422717. The registered office is Unit 11, Langley Terace Industrial Estat, Latimer Road, Luton, Bedfordshire, LU1 3XQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared in accordance with the provisions of Section 1A ''Small Entities'' of Financial Reporting Standard 102 '' The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
- 18% on reducing balance
Computer equipment
- 20% on straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Right Floors Limited Notes to the Accounts for the year ended 30 November 2023
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 December 2022
7,000 
1,385 
8,385 
Additions
21,525 
- 
21,525 
Disposals
(7,000)
- 
(7,000)
At 30 November 2023
21,525 
1,385 
22,910 
Depreciation
At 1 December 2022
3,835 
836 
4,671 
Charge for the year
3,875 
277 
4,152 
On disposals
(3,835)
- 
(3,835)
At 30 November 2023
3,875 
1,113 
4,988 
Net book value
At 30 November 2023
17,650 
272 
17,922 
At 30 November 2022
3,165 
549 
3,714 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
4,533 
7,490 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
7,208 
4,338 
Trade creditors
6,279 
2,375 
Taxes and social security
422 
880 
Other creditors
(525)
- 
Loans from directors
19,500 
- 
32,884 
7,593 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
8
Transactions with related parties
The ultimate controlling party is Arshad Iqbal. During the year company borrowed £19,500 (2022: £0) from the director.
9
Controlling party
The company was under the control of the director throughout the current year. During the year
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Right Floors Limited Notes to the Accounts for the year ended 30 November 2023
10
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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