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REGISTERED NUMBER: 11005498 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Flooring Pro Solutions Ltd

Flooring Pro Solutions Ltd (Registered number: 11005498)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Flooring Pro Solutions Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr D M Bentley
Mr L D Foley





REGISTERED OFFICE: Uni 3, Pledgon Hall Barn
Henham
Bishop's Stortford
Hertfordshire
CM22 6BJ





REGISTERED NUMBER: 11005498 (England and Wales)





ACCOUNTANTS: N J Grindrod & Co Limited
First Floor
Sovereign House
Barehill Street
Littleborough
Lancashire
OL15 9BL

Flooring Pro Solutions Ltd (Registered number: 11005498)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,478 68,637

CURRENT ASSETS
Stocks 238,000 285,000
Debtors 5 888,165 957,883
Cash at bank and in hand 413 300
1,126,578 1,243,183
CREDITORS
Amounts falling due within one year 6 585,286 694,748
NET CURRENT ASSETS 541,292 548,435
TOTAL ASSETS LESS CURRENT
LIABILITIES

592,770

617,072

CREDITORS
Amounts falling due after more than one
year

7

119,886

150,000
NET ASSETS 472,884 467,072

CAPITAL AND RESERVES
Called up share capital 501,000 501,000
Retained earnings (28,116 ) (33,928 )
SHAREHOLDERS' FUNDS 472,884 467,072

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

Flooring Pro Solutions Ltd (Registered number: 11005498)

Balance Sheet - continued
31 October 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





Mr D M Bentley - Director


Flooring Pro Solutions Ltd (Registered number: 11005498)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Flooring Pro Solutions 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Flooring Pro Solutions Ltd (Registered number: 11005498)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Office
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022
and 31 October 2023 60,499 115,208 12,398 188,105
DEPRECIATION
At 1 November 2022 45,466 69,403 4,599 119,468
Charge for year 3,758 11,452 1,949 17,159
At 31 October 2023 49,224 80,855 6,548 136,627
NET BOOK VALUE
At 31 October 2023 11,275 34,353 5,850 51,478
At 31 October 2022 15,033 45,805 7,799 68,637

Flooring Pro Solutions Ltd (Registered number: 11005498)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
At 1 November 2022
and 31 October 2023 93,155
DEPRECIATION
At 1 November 2022 52,729
Charge for year 10,108
At 31 October 2023 62,837
NET BOOK VALUE
At 31 October 2023 30,318
At 31 October 2022 40,426

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 242,997 451,787
Amounts recoverable on contract 262,600 262,600
Other debtors 382,568 243,496
888,165 957,883

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 154,283 126,066
Finance leases 12,436 12,436
Trade creditors 162,589 358,984
Taxation and social security 147,926 101,136
Other creditors 108,052 96,126
585,286 694,748

Flooring Pro Solutions Ltd (Registered number: 11005498)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans 32,217 32,217
Finance leases 16,509 28,946
Other creditors 71,160 88,837
119,886 150,000

8. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Bank overdrafts 66,802 116,898
Bank loans 119,698 41,385
Other loans 109,762 127,439
Finance leases 28,945 41,382
325,207 327,104

Bank loans and overdrafts are secured by a fixed and floating charge over the company's assets.