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REGISTERED NUMBER: 08447722 (England and Wales)








REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

FLOORTECH INDUSTRIES UK LIMITED

FLOORTECH INDUSTRIES UK LIMITED (REGISTERED NUMBER: 08447722)






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




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 7


FLOORTECH INDUSTRIES UK LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: Mr A Blay
Mr A Lehane



REGISTERED OFFICE: Unit 6 Thames Trading Centre
Woodrow Way
Irlam
Manchester
Lancashire
M44 6BP



REGISTERED NUMBER: 08447722 (England and Wales)



ACCOUNTANTS: Cadishead Accountancy Services Limited
Britannic House
657 Liverpool Road
Irlam
Manchester
Lancashire
M44 5XD



BANKERS: HSBC Bank Plc
11 Stamford New Road
Altrincham
Cheshire
WA14 1BW

FLOORTECH INDUSTRIES UK LIMITED (REGISTERED NUMBER: 08447722)

REPORT OF THE DIRECTORS
for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the supply and installation of flooring.

DIRECTORS
The directors set out in the table below have held office during the whole of the period from 1 April 2023 to the date of this report.

The beneficial interests of the directors holding office at 31 March 2024 in the shares of the company, according to the register of directors' interests, were as follows:

31.3.24 1.4.23
Ordinary shares of £1 each
Mr A Blay 400 400
Mr A Lehane 600 600

These directors did not hold any non-beneficial interests in the shares of the company.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr A Blay - Director


29 November 2024

FLOORTECH INDUSTRIES UK LIMITED (REGISTERED NUMBER: 08447722)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 12,841 2,213

CURRENT ASSETS
Inventories 218,155 209,412
Debtors 5 323,368 579,205
Cash at bank and in hand 659,371 418,685
1,200,894 1,207,302
CREDITORS
Amounts falling due within one year 6 (861,826 ) (908,163 )
NET CURRENT ASSETS 339,068 299,139
TOTAL ASSETS LESS CURRENT
LIABILITIES

351,909

301,352

PROVISIONS FOR LIABILITIES (2,440 ) (420 )
NET ASSETS 349,469 300,932

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 348,469 299,932
SHAREHOLDERS' FUNDS 349,469 300,932

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.

FLOORTECH INDUSTRIES UK LIMITED (REGISTERED NUMBER: 08447722)

BALANCE SHEET - 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 29 November 2024 and were signed on its behalf by:




Mr A Blay - Director



Mr A Lehane - Director


FLOORTECH INDUSTRIES UK LIMITED (REGISTERED NUMBER: 08447722)

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

1. STATUTORY INFORMATION

Floortech Industries UK 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.

Turnover
Revenue 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.
Improvements to property - 33% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Inventories 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 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 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 3 (2023 - 3 ) .

FLOORTECH INDUSTRIES UK LIMITED (REGISTERED NUMBER: 08447722)

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

4. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 12,802 3,689 3,679 20,170
Additions - 11,938 566 12,504
At 31 March 2024 12,802 15,627 4,245 32,674
DEPRECIATION
At 1 April 2023 12,802 2,712 2,443 17,957
Charge for year - 1,331 545 1,876
At 31 March 2024 12,802 4,043 2,988 19,833
NET BOOK VALUE
At 31 March 2024 - 11,584 1,257 12,841
At 31 March 2023 - 977 1,236 2,213

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 306,629 561,657
Other debtors 16,739 17,548
323,368 579,205

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 723 2,696
Trade creditors 94,113 107,460
Taxation and social security 136,727 187,857
Other creditors 630,263 610,150
861,826 908,163

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 21,600 6,750
Between one and five years 81,000 20,164
102,600 26,914

8. RELATED PARTY DISCLOSURES

Included in Consultancy costs is £318,000 and Purchases cost £385,320 to Floortech Industries Limited a company which Anthony Lehane is a director. Included in Consultancy costs is £212,000 and in Commission £39,856 to LA & AG Blay Limited a company which Alan Blay is a director.

FLOORTECH INDUSTRIES UK LIMITED (REGISTERED NUMBER: 08447722)

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

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr A Lehane.