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Company Registration No. 04708835 (England and Wales)
J & S Flooring Limited Unaudited accounts for the year ended 31 March 2024
J & S Flooring Limited Unaudited accounts Contents
Page
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J & S Flooring Limited Company Information for the year ended 31 March 2024
Directors
Neil Kear Jonathan George Wells
Company Number
04708835 (England and Wales)
Registered Office
Unit 5 Enderby Road Industrial Estate Whetstone Leicester Leicestershire LE8 6HZ England
Accountants
Advanced Tax Solutions Ltd t/a Tax Made Easy Unit 24, King Street Buildings Enderby Leicester Leicestershire LE19 4NT
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J & S Flooring Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
73,833 
76,547 
Current assets
Inventories
10,000 
50,000 
Debtors
173,500 
49,204 
Cash at bank and in hand
53,390 
75,028 
236,890 
174,232 
Creditors: amounts falling due within one year
(130,911)
(81,344)
Net current assets
105,979 
92,888 
Total assets less current liabilities
179,812 
169,435 
Creditors: amounts falling due after more than one year
(60,659)
(70,833)
Net assets
119,153 
98,602 
Capital and reserves
Called up share capital
4 
4 
Profit and loss account
119,149 
98,598 
Shareholders' funds
119,153 
98,602 
For the year ending 31 March 2024 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 directors acknowledge their 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 of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by
Jonathan George Wells Director Company Registration No. 04708835
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J & S Flooring Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
J & S Flooring Limited is a private company, limited by shares, registered in England and Wales, registration number 04708835. The registered office is Unit 5 Enderby Road Industrial Estate, Whetstone, Leicester, Leicestershire, LE8 6HZ, England.
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 under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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J & S Flooring Limited Notes to the Accounts for the year ended 31 March 2024
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. 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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2023
30,000 
At 31 March 2024
30,000 
Amortisation
At 1 April 2023
30,000 
At 31 March 2024
30,000 
Net book value
At 31 March 2024
- 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
17,687 
163,913 
53,673 
235,273 
Additions
- 
24,504 
464 
24,968 
At 31 March 2024
17,687 
188,417 
54,137 
260,241 
Depreciation
At 1 April 2023
12,532 
106,558 
39,636 
158,726 
Charge for the year
1,379 
22,674 
3,629 
27,682 
At 31 March 2024
13,911 
129,232 
43,265 
186,408 
Net book value
At 31 March 2024
3,776 
59,185 
10,872 
73,833 
At 31 March 2023
5,155 
57,355 
14,037 
76,547 
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J & S Flooring Limited Notes to the Accounts for the year ended 31 March 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
165,557 
39,995 
Accrued income and prepayments
7,943 
6,311 
Other debtors
- 
2,898 
173,500 
49,204 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
16,667 
16,667 
VAT
(2,652)
(8,899)
Obligations under finance leases and hire purchase contracts
9,064 
6,667 
Trade creditors
78,571 
53,611 
Taxes and social security
21,550 
5,725 
Other creditors
1,437 
3,096 
Loans from directors
1,264 
- 
Accruals
5,010 
4,477 
130,911 
81,344 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
44,444 
61,111 
Obligations under finance leases and hire purchase contracts
16,215 
9,722 
60,659 
70,833 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Jonathan George Wells
Directors' Loan Account
(2,660)
25,178 
21,253 
1,265 
(2,660)
25,178 
21,253 
1,265 
10
Average number of employees
During the year the average number of employees was 16 (2023: 16).
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