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REGISTERED NUMBER: 09629479 (England and Wales)
















Ricky Jewitt Carpets Ltd

Unaudited Financial Statements

for the Year Ended 31st March 2024






Ricky Jewitt Carpets Ltd (Registered number: 09629479)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Ricky Jewitt Carpets Ltd

Company Information
for the Year Ended 31st March 2024







Directors: Mr R R Jewitt
Mrs J A Jewitt





Registered office: The Oak
Chapel Hill
Braintree
Essex
CM7 3QT





Registered number: 09629479 (England and Wales)





Accountants: Wilson Stevens
Accountants
4th Floor
100 Fenchurch Street
London
EC3M 5JD

Ricky Jewitt Carpets Ltd (Registered number: 09629479)

Statement of Financial Position
31st March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 9,917 16,917
Tangible assets 5 2,557 3,411
12,474 20,328

Current assets
Stocks 25,524 30,367
Debtors 6 10,798 31,131
Cash at bank - 2,904
36,322 64,402
Creditors
Amounts falling due within one year 7 101,524 100,285
Net current liabilities (65,202 ) (35,883 )
Total assets less current liabilities (52,728 ) (15,555 )

Capital and reserves
Called up share capital 2 2
Retained earnings (52,730 ) (15,557 )
(52,728 ) (15,555 )

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8th November 2024 and were signed on its behalf by:



Mr R R Jewitt - Director


Ricky Jewitt Carpets Ltd (Registered number: 09629479)

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

1. Statutory information

Ricky Jewitt Carpets Ltd 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.

At the balance sheet date the company's liabilities exceeded its assets and the company received assurance from the directors, that they will continue to give financial support to the company for twelve months from the date of signing of these financial statements.

On this basis, the directors considers it appropriate to prepare the financial statements on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis is used in preparing the company's financial statements may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The financial statements do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value,
over the useful life of that asset as follows:

Goodwill - Over the useful life of 10 years

If there is an indication that there has been a significant change in amortisation rate, useful life or
residual value of an intangible asset, the amortisation is revised prospectively to reflect the new
estimates.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance
Equipment - 25% reducing balance

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.


Ricky Jewitt Carpets Ltd (Registered number: 09629479)

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

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 2 (2023 - 2 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1st April 2023
and 31st March 2024 70,000
Amortisation
At 1st April 2023 53,083
Charge for year 7,000
At 31st March 2024 60,083
Net book value
At 31st March 2024 9,917
At 31st March 2023 16,917

Ricky Jewitt Carpets Ltd (Registered number: 09629479)

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

5. Tangible fixed assets
Fixtures
and Motor
fittings vehicles Equipment Totals
£    £    £    £   
Cost
At 1st April 2023
and 31st March 2024 8,000 15,825 10,000 33,825
Depreciation
At 1st April 2023 7,089 14,392 8,933 30,414
Charge for year 228 359 267 854
At 31st March 2024 7,317 14,751 9,200 31,268
Net book value
At 31st March 2024 683 1,074 800 2,557
At 31st March 2023 911 1,433 1,067 3,411

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 7,235 31,131
Other debtors 3,563 -
10,798 31,131

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 5,263 -
Trade creditors 11,955 20,633
Taxation and social security 8,092 10,275
Other creditors 76,214 69,377
101,524 100,285