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REGISTERED NUMBER: 07748801 (England and Wales)


















ASHBURN CARPETS LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024






ASHBURN CARPETS LTD (REGISTERED NUMBER: 07748801)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ASHBURN CARPETS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: M Lazar





REGISTERED OFFICE: 6 Fleming Way
Isleworth
Middlesex
TW7 6EU





REGISTERED NUMBER: 07748801 (England and Wales)





ACCOUNTANTS: Chanter, Browne & Curry
1 Plato Place
72-74 St Dionis Road
Fulham
London
SW6 4TU

ASHBURN CARPETS LTD (REGISTERED NUMBER: 07748801)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 128,583 40,873

CURRENT ASSETS
Stocks 5 860,038 635,240
Debtors 6 265,925 222,382
Cash at bank 369,201 490,938
1,495,164 1,348,560
CREDITORS
Amounts falling due within one year 7 556,837 553,903
NET CURRENT ASSETS 938,327 794,657
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,066,910

835,530

CREDITORS
Amounts falling due after more than one
year

8

(22,500

)

(32,500

)

PROVISIONS FOR LIABILITIES (36,180 ) (9,947 )
NET ASSETS 1,008,230 793,083

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,008,130 792,983
SHAREHOLDERS' FUNDS 1,008,230 793,083

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 November 2024 and were signed by:





M Lazar - Director


ASHBURN CARPETS LTD (REGISTERED NUMBER: 07748801)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Ashburn 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.

TURNOVER
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Equally over the life of the lease
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer & equipment - 25% on cost

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.

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 11 (2023 - 9 ) .

ASHBURN CARPETS LTD (REGISTERED NUMBER: 07748801)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor Computer
leasehold fittings vehicles & equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 - 81,758 81,430 10,706 173,894
Additions 22,900 118,592 - - 141,492
At 29 February 2024 22,900 200,350 81,430 10,706 315,386
DEPRECIATION
At 1 March 2023 - 68,505 56,139 8,377 133,021
Charge for year 1,336 37,254 13,646 1,546 53,782
At 29 February 2024 1,336 105,759 69,785 9,923 186,803
NET BOOK VALUE
At 29 February 2024 21,564 94,591 11,645 783 128,583
At 28 February 2023 - 13,253 25,291 2,329 40,873

5. STOCKS
2024 2023
£    £   
Stocks 860,038 635,240

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 199,353 189,966
Other debtors 17,280 17,280
Prepayments 49,292 15,136
265,925 222,382

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 8,591
Trade creditors 404,679 398,483
Corporation Tax 88,514 80,891
Social security and other taxes 9,593 7,033
Pension payable 1,110 692
VAT 34,663 34,295
Credit card 7,352 -
Director's loan account 4,766 4,501
Accrued expenses 6,160 19,417
556,837 553,903

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 22,500 32,500

9. OTHER FINANCIAL COMMITMENTS

At 28 February 2024 the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £1,811,073 (2023: £459,027).