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REGISTERED NUMBER: 01648258 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

JOHN A. HART (CARPET) LIMITED

JOHN A. HART (CARPET) LIMITED (REGISTERED NUMBER: 01648258)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


JOHN A. HART (CARPET) LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: J A Hart
J R Hart





REGISTERED OFFICE: Langley House
Park Road
London
N2 8EY





REGISTERED NUMBER: 01648258 (England and Wales)





ACCOUNTANTS: Accura Accountants Ltd
Langley House
Park Road
East Finchley
London
N2 8EY

JOHN A. HART (CARPET) LIMITED (REGISTERED NUMBER: 01648258)

STATEMENT OF FINANCIAL POSITION
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 100,288 42,698
Investments 5 251 -
100,539 42,698

CURRENT ASSETS
Stocks 16,250 16,250
Debtors 6 230,210 276,374
Cash at bank 291,645 73,267
538,105 365,891
CREDITORS
Amounts falling due within one year 7 452,195 271,065
NET CURRENT ASSETS 85,910 94,826
TOTAL ASSETS LESS CURRENT
LIABILITIES

186,449

137,524

CREDITORS
Amounts falling due after more than one
year

8

(107,649

)

(137,804

)

PROVISIONS FOR LIABILITIES (20,397 ) (8,113 )
NET ASSETS/(LIABILITIES) 58,403 (8,393 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 58,303 (8,493 )
58,403 (8,393 )

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.

JOHN A. HART (CARPET) LIMITED (REGISTERED NUMBER: 01648258)

STATEMENT OF FINANCIAL POSITION - 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 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 4 November 2024 and were signed on its behalf by:





J R Hart - Director


JOHN A. HART (CARPET) LIMITED (REGISTERED NUMBER: 01648258)

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

1. STATUTORY INFORMATION

John A. Hart (Carpet) 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.

The financial statements have been prepared on the going concern basis, the applicability of which is dependent upon the continued support of the company's creditors and financiers. The Statement of Financial Position shows net liabilities, the directors are of the opinion that the creditors and financiers will continue to support it, and provide adequate funding when necessary to enable it to meet its obligations for the foreseeable future, being for a period of at least twelve months from the date of approval of the financial statements.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is show net of VAT and other sales related taxes. The fair value of the consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and equipmentStraight line over 5 years
Motor vehiclesStraight line over 4 years

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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.


JOHN A. HART (CARPET) LIMITED (REGISTERED NUMBER: 01648258)

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

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.

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.

Impairment of assets
A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversals at each reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

JOHN A. HART (CARPET) LIMITED (REGISTERED NUMBER: 01648258)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 191,485
Additions 107,562
Disposals (25,568 )
At 31 March 2024 273,479
DEPRECIATION
At 1 April 2023 148,787
Charge for year 49,972
Eliminated on disposal (25,568 )
At 31 March 2024 173,191
NET BOOK VALUE
At 31 March 2024 100,288
At 31 March 2023 42,698

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 251
At 31 March 2024 251
NET BOOK VALUE
At 31 March 2024 251

The value of listed investment shown in the account is on a cost basis as the movement in current market value is insignificant.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 142,005 198,365
Other debtors 88,205 78,009
230,210 276,374

Included in other debtors are prepayment of £7,500 (2023: £6,000).

JOHN A. HART (CARPET) LIMITED (REGISTERED NUMBER: 01648258)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 40,000 40,000
Hire purchase contracts (see note 9) 14,475 8,683
Trade creditors 341,739 187,475
Taxation and social security 52,631 31,557
Other creditors 3,350 3,350
452,195 271,065

Included in creditors due within one year is accrued expenses of £3,350 (2023: £3,350)

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 83,333 123,333
Hire purchase contracts (see note 9) 24,316 14,471
107,649 137,804

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 14,475 8,683
Between one and five years 24,316 14,471
38,791 23,154

Operating Lease:
At the reporting end date, the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

31.3.21 30.9.19
£ £   
108,000 126,000

10. SECURED DEBTS

The overdraft facility is secured by way of a fixed and floating charge over the undertaking and all property and assets present and future. This facility has not been utilised in the period.

JOHN A. HART (CARPET) LIMITED (REGISTERED NUMBER: 01648258)

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

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
J R Hart and J A Hart
Balance outstanding at start of year 42,422 54,195
Amounts advanced 97,977 68,856
Amounts repaid (98,103 ) (80,629 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 42,296 42,422

Included within the amount advanced is interest of £936 (2023:£832) charged at HMRC prescribed rate on the outstanding loan balance. The overdrawn loan balance is repayable on demand and personally guaranteed by the director.