Silverfin false false 31/03/2024 01/04/2023 31/03/2024 C Smith G Smith H Smith M Smith 28 November 2024 The principal activity of the Company is retail sale and installation of carpets, rugs, blinds and other floor coverings 07193645 2024-03-31 07193645 2023-03-31 07193645 core:CurrentFinancialInstruments 2024-03-31 07193645 core:CurrentFinancialInstruments 2023-03-31 07193645 core:Non-currentFinancialInstruments 2024-03-31 07193645 core:Non-currentFinancialInstruments 2023-03-31 07193645 core:ShareCapital 2024-03-31 07193645 core:ShareCapital 2023-03-31 07193645 core:CapitalRedemptionReserve 2024-03-31 07193645 core:CapitalRedemptionReserve 2023-03-31 07193645 core:RetainedEarningsAccumulatedLosses 2024-03-31 07193645 core:RetainedEarningsAccumulatedLosses 2023-03-31 07193645 core:Goodwill 2023-03-31 07193645 core:Goodwill 2024-03-31 07193645 core:Vehicles 2023-03-31 07193645 core:FurnitureFittings 2023-03-31 07193645 core:Vehicles 2024-03-31 07193645 core:FurnitureFittings 2024-03-31 07193645 2022-03-31 07193645 bus:OrdinaryShareClass1 2024-03-31 07193645 bus:OrdinaryShareClass2 2024-03-31 07193645 bus:OrdinaryShareClass3 2024-03-31 07193645 bus:OrdinaryShareClass4 2024-03-31 07193645 2023-04-01 2024-03-31 07193645 bus:FilletedAccounts 2023-04-01 2024-03-31 07193645 bus:SmallEntities 2023-04-01 2024-03-31 07193645 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07193645 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07193645 bus:Director1 2023-04-01 2024-03-31 07193645 bus:Director2 2023-04-01 2024-03-31 07193645 bus:Director3 2023-04-01 2024-03-31 07193645 bus:Director4 2023-04-01 2024-03-31 07193645 core:Goodwill core:TopRangeValue 2023-04-01 2024-03-31 07193645 core:Vehicles core:TopRangeValue 2023-04-01 2024-03-31 07193645 core:FurnitureFittings core:TopRangeValue 2023-04-01 2024-03-31 07193645 2022-04-01 2023-03-31 07193645 core:Goodwill 2023-04-01 2024-03-31 07193645 core:Vehicles 2023-04-01 2024-03-31 07193645 core:FurnitureFittings 2023-04-01 2024-03-31 07193645 core:CurrentFinancialInstruments 2023-04-01 2024-03-31 07193645 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 07193645 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 07193645 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 07193645 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 07193645 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 07193645 bus:OrdinaryShareClass3 2023-04-01 2024-03-31 07193645 bus:OrdinaryShareClass3 2022-04-01 2023-03-31 07193645 bus:OrdinaryShareClass4 2023-04-01 2024-03-31 07193645 bus:OrdinaryShareClass4 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07193645 (England and Wales)

DENTONS CARPETS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

DENTONS CARPETS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

DENTONS CARPETS LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
DENTONS CARPETS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS C Smith
G Smith
H Smith
M Smith
REGISTERED OFFICE 91 High Street
Cottenham
Cambridge
CB24 8SD
United Kingdom
COMPANY NUMBER 07193645 (England and Wales)
ACCOUNTANT Peters Elworthy & Moore
Salisbury House
Station Road
Cambridge
CB1 2LA
DENTONS CARPETS LIMITED

BALANCE SHEET

As at 31 March 2024
DENTONS CARPETS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 10,000 20,000
Tangible assets 4 100,035 77,002
110,035 97,002
Current assets
Stocks 5 46,369 90,619
Debtors 6 55,195 45,249
Cash at bank and in hand 434,069 446,983
535,633 582,851
Creditors: amounts falling due within one year 7 ( 368,096) ( 454,523)
Net current assets 167,537 128,328
Total assets less current liabilities 277,572 225,330
Creditors: amounts falling due after more than one year 8 ( 28,573) ( 34,264)
Provision for liabilities 9 ( 20,887) ( 14,750)
Net assets 228,112 176,316
Capital and reserves
Called-up share capital 10 120 120
Capital redemption reserve 50 50
Profit and loss account 227,942 176,146
Total shareholders' funds 228,112 176,316

For the financial 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.

Directors' responsibilities:

The financial statements of Dentons Carpets Limited (registered number: 07193645) were approved and authorised for issue by the Board of Directors on 28 November 2024. They were signed on its behalf by:

G Smith
Director
DENTONS CARPETS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
DENTONS CARPETS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Dentons Carpets Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 91 High Street, Cottenham, Cambridge, CB24 8SD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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 shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 15 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 4 years straight line
Fixtures and fittings 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 11

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2023 150,000 150,000
At 31 March 2024 150,000 150,000
Accumulated amortisation
At 01 April 2023 130,000 130,000
Charge for the financial year 10,000 10,000
At 31 March 2024 140,000 140,000
Net book value
At 31 March 2024 10,000 10,000
At 31 March 2023 20,000 20,000

4. Tangible assets

Vehicles Fixtures and fittings Total
£ £ £
Cost
At 01 April 2023 135,701 33,214 168,915
Additions 40,877 9,298 50,175
Disposals ( 19,100) 0 ( 19,100)
At 31 March 2024 157,478 42,512 199,990
Accumulated depreciation
At 01 April 2023 80,325 11,588 91,913
Charge for the financial year 15,320 3,467 18,787
Disposals ( 10,745) 0 ( 10,745)
At 31 March 2024 84,900 15,055 99,955
Net book value
At 31 March 2024 72,578 27,457 100,035
At 31 March 2023 55,376 21,626 77,002

5. Stocks

2024 2023
£ £
Stocks 38,644 69,493
Work in progress 7,725 21,126
46,369 90,619

6. Debtors

2024 2023
£ £
Trade debtors 46,518 38,555
Other debtors 8,677 6,694
55,195 45,249

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 5,691 5,551
Trade creditors 78,640 113,545
Taxation and social security 108,228 99,105
Other creditors 175,537 236,322
368,096 454,523

Bank loans represents a Government backed 'bounce back' loan which was drawn down in June 2020. The loan is 100% guaranteed by the Government and there were no fees or interest payable by the Company in the first 12 months. After the initial 12 month interest free period, interest is charged at 2.5% per annum.

Included within other creditors is a year end pension liability of £1,447 (2023: £NIL).

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 28,573 34,264

Bank loans represents a Government backed 'bounce back' loan which was drawn down in June 2020. The loan is 100% guaranteed by the Government and there were no fees or interest payable by the Company in the first 12 months. After the initial 12 month interest free period, interest is charged at 2.5% per annum.

9. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 14,750) ( 2,516)
Charged to the Statement of Income and Retained Earnings ( 6,137) ( 12,234)
At the end of financial year ( 20,887) ( 14,750)

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
50 Ordinary shares shares of £ 1.00 each 50 50
50 B shares ordinary shares of £ 1.00 each 50 50
10 C shares ordinary shares of £ 1.00 each 10 10
10 D shares ordinary shares of £ 1.00 each 10 10
120 120

11. Financial commitments

Total financial commitments, guarantees and contingencies that are not included in the balance sheet amount to £66,000 (2023 - £88,000).