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REGISTERED NUMBER: 07192011 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

PETER ALLEN FLOORCOVERINGS LIMITED

PETER ALLEN FLOORCOVERINGS LIMITED (REGISTERED NUMBER: 07192011)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PETER ALLEN FLOORCOVERINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mr P R Allen
Mrs A M Allen





REGISTERED OFFICE: Unit 2
New Road
Sowarth Field Industrial Estate
Settle
North Yorkshire
BD24 9AG





REGISTERED NUMBER: 07192011 (England and Wales)





ACCOUNTANTS: Brosnans
Chartered Accountants
Suite 1, Aireside House
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ

PETER ALLEN FLOORCOVERINGS LIMITED (REGISTERED NUMBER: 07192011)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 7,020 9,360
Tangible assets 5 244,861 243,605
251,881 252,965

CURRENT ASSETS
Stocks 6 88,874 94,745
Debtors 7 42,980 52,857
Cash at bank and in hand 30,288 214
162,142 147,816
CREDITORS
Amounts falling due within one year 8 (187,737 ) (166,404 )
NET CURRENT LIABILITIES (25,595 ) (18,588 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

226,286

234,377

CREDITORS
Amounts falling due after more than
one year

9

(50,454

)

(58,957

)

PROVISIONS FOR LIABILITIES (36,343 ) (26,814 )
NET ASSETS 139,489 148,606

PETER ALLEN FLOORCOVERINGS LIMITED (REGISTERED NUMBER: 07192011)

BALANCE SHEET - continued
30 APRIL 2024

2024 2023
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 139,389 148,506
SHAREHOLDERS' FUNDS 139,489 148,606

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 19 November 2024 and were signed on its behalf by:




Mr P R Allen - Director



Mrs A M Allen - Director


PETER ALLEN FLOORCOVERINGS LIMITED (REGISTERED NUMBER: 07192011)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Peter Allen Floorcoverings 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 net invoiced sales of goods and services excluding value added tax.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of eighteen years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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


PETER ALLEN FLOORCOVERINGS LIMITED (REGISTERED NUMBER: 07192011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 36,000
AMORTISATION
At 1 May 2023 26,640
Charge for year 2,340
At 30 April 2024 28,980
NET BOOK VALUE
At 30 April 2024 7,020
At 30 April 2023 9,360

PETER ALLEN FLOORCOVERINGS LIMITED (REGISTERED NUMBER: 07192011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 84,481 376,130 460,611
Additions - 90,746 90,746
Disposals - (44,231 ) (44,231 )
At 30 April 2024 84,481 422,645 507,126
DEPRECIATION
At 1 May 2023 3,639 213,367 217,006
Charge for year 1,690 43,569 45,259
At 30 April 2024 5,329 256,936 262,265
NET BOOK VALUE
At 30 April 2024 79,152 165,709 244,861
At 30 April 2023 80,842 162,763 243,605

6. STOCKS
2024 2023
£    £   
Stocks 88,874 94,745

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 41,355 52,293
Other debtors 1,625 564
42,980 52,857

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 37,341 37,100
Hire purchase contracts 18,330 17,523
Trade creditors 66,719 43,923
Taxation and social security 61,574 59,393
Other creditors 3,773 8,465
187,737 166,404

PETER ALLEN FLOORCOVERINGS LIMITED (REGISTERED NUMBER: 07192011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 29,711 35,105
Hire purchase contracts 20,743 23,852
50,454 58,957

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 32,040 31,932
Bank loans 35,012 40,273
Hire purchase contracts 39,073 41,375
106,125 113,580

Mr & Mrs Allen have given personal guarantees for the bank overdraft and bank loans. The hire purchase is secured on the assets being purchased.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

12. RELATED PARTY DISCLOSURES

During the year rent of £39,000 (2023:£39,000) was paid to the directors for the use of their premises.