Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 05033343 Mr Sean Barker McCarthy Mr Patrick McCarthy Mrs June McCarthy Mrs June McCarthy true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05033343 2023-02-28 05033343 2024-02-29 05033343 2023-03-01 2024-02-29 05033343 frs-core:CurrentFinancialInstruments 2024-02-29 05033343 frs-core:Non-currentFinancialInstruments 2024-02-29 05033343 frs-core:ComputerEquipment 2024-02-29 05033343 frs-core:ComputerEquipment 2023-03-01 2024-02-29 05033343 frs-core:ComputerEquipment 2023-02-28 05033343 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-29 05033343 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-29 05033343 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 05033343 frs-core:FurnitureFittings 2024-02-29 05033343 frs-core:FurnitureFittings 2023-03-01 2024-02-29 05033343 frs-core:FurnitureFittings 2023-02-28 05033343 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-02-29 05033343 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 05033343 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-28 05033343 frs-core:MotorVehicles 2024-02-29 05033343 frs-core:MotorVehicles 2023-03-01 2024-02-29 05033343 frs-core:MotorVehicles 2023-02-28 05033343 frs-core:ShareCapital 2024-02-29 05033343 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 05033343 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 05033343 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 05033343 frs-bus:SmallEntities 2023-03-01 2024-02-29 05033343 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 05033343 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 05033343 1 2023-03-01 2024-02-29 05033343 frs-bus:Director1 2023-03-01 2024-02-29 05033343 frs-bus:Director2 2023-03-01 2024-02-29 05033343 frs-bus:Director3 2023-03-01 2024-02-29 05033343 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 05033343 frs-core:CurrentFinancialInstruments 1 2024-02-29 05033343 frs-countries:EnglandWales 2023-03-01 2024-02-29 05033343 2022-02-28 05033343 2023-02-28 05033343 2022-03-01 2023-02-28 05033343 frs-core:CurrentFinancialInstruments 2023-02-28 05033343 frs-core:Non-currentFinancialInstruments 2023-02-28 05033343 frs-core:ShareCapital 2023-02-28 05033343 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 05033343 frs-core:CurrentFinancialInstruments 1 2023-02-28
Registered number: 05033343
Carpets 4 All Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Reynolds
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05033343
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 - 17,000
Tangible Assets 5 257,275 292,337
257,275 309,337
CURRENT ASSETS
Stocks 6 717,681 701,010
Debtors 7 268,220 267,114
Cash at bank and in hand 1,374,026 1,363,463
2,359,927 2,331,587
Creditors: Amounts Falling Due Within One Year 8 (526,815 ) (619,081 )
NET CURRENT ASSETS (LIABILITIES) 1,833,112 1,712,506
TOTAL ASSETS LESS CURRENT LIABILITIES 2,090,387 2,021,843
Creditors: Amounts Falling Due After More Than One Year 9 (194,024 ) (221,929 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (56,330 ) (63,379 )
NET ASSETS 1,840,033 1,736,535
CAPITAL AND RESERVES
Called up share capital 10 110 110
Profit and Loss Account 1,839,923 1,736,425
SHAREHOLDERS' FUNDS 1,840,033 1,736,535
Page 1
Page 2
For the year ending 29 February 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Sean Barker McCarthy
Director
Mr Patrick McCarthy
Director
22/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Carpets 4 All Limited Registered number 05033343 is a limited by shares company incorporated in England & Wales. The Registered Office is Unit 1 Haslemere Trading Estate, Sutton Road, Maidstone, Kent, ME15 9NL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Research and Development
The company capitalises development expenditure on a software system named Carpet Genius. Expenditure on the development is amortised over a period of five years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 15 and 10 years staright line basis
Motor Vehicles 25% reducing balance basis
Fixtures & Fittings 15% reducing balance basis
Computer Equipment 33.3% reducing balance basis
2.5. Stocks and Work in Progress
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.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 43 (2023: 40)
43 40
Page 3
Page 4
4. Intangible Assets
Development Costs
£
Cost
As at 1 March 2023 100,000
As at 29 February 2024 100,000
Amortisation
As at 1 March 2023 83,000
Impairment losses 17,000
As at 29 February 2024 100,000
Net Book Value
As at 29 February 2024 -
As at 1 March 2023 17,000
5. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 March 2023 67,976 108,119 358,579 18,020 552,694
Additions - 1,599 7,550 5,874 15,023
Disposals - (2,208 ) - - (2,208 )
As at 29 February 2024 67,976 107,510 366,129 23,894 565,509
Depreciation
As at 1 March 2023 45,556 46,783 156,112 11,906 260,357
Provided during the period 3,504 15,118 26,371 3,298 48,291
Disposals - (414 ) - - (414 )
As at 29 February 2024 49,060 61,487 182,483 15,204 308,234
Net Book Value
As at 29 February 2024 18,916 46,023 183,646 8,690 257,275
As at 1 March 2023 22,420 61,336 202,467 6,114 292,337
6. Stocks
2024 2023
£ £
Stock 717,681 701,010
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Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 82,862 86,793
Prepayments and accrued income 185,358 180,321
268,220 267,114
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 264,078 327,198
Corporation tax 92,194 11,123
Other taxes and social security 24,562 23,733
VAT 44,753 46,121
Other creditors 27,905 27,905
Pension creditor 6,983 8,379
Accruals and deferred income 3,340 173,350
Directors' loan accounts 63,000 1,272
526,815 619,081
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 194,024 221,929
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 110 110
11. Ultimate Controlling Party
The company's ultimate controlling party is Mark McCarthy by virtue of his ownership of 92% of the issued share capital in the company.
Page 5