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REGISTERED NUMBER: 04763144










Financial Statements

for the Year Ended 31 May 2024

for

Seaham Carpet Centre Limited

Seaham Carpet Centre Limited (Registered number: 04763144)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Seaham Carpet Centre Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: M Potts





SECRETARY: W Potts





REGISTERED OFFICE: 16 Church Street
Seaham
Co. Durham
SR7 7HQ





REGISTERED NUMBER: 04763144





ACCOUNTANTS: SKS Bailey Group Limited
Wynyard Business Park
Wynyard Avenue
Billingham
Cleveland
TS22 5TB

Seaham Carpet Centre Limited (Registered number: 04763144)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 3 - 13,297

CURRENT ASSETS
Stocks - 2,521
Debtors 4 - 8,769
Cash at bank and in hand 7,039 46,093
7,039 57,383
CREDITORS
Amounts falling due within one year 5 (1,358 ) (18,497 )
NET CURRENT ASSETS 5,681 38,886
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,681

52,183

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 5,679 52,181
SHAREHOLDERS' FUNDS 5,681 52,183

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

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

Seaham Carpet Centre Limited (Registered number: 04763144)

Balance Sheet - continued
31 May 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 December 2024 and were signed by:





M Potts - Director


Seaham Carpet Centre Limited (Registered number: 04763144)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. 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.
Improvements to property - Straight line over 20 years

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Seaham Carpet Centre Limited (Registered number: 04763144)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. TANGIBLE FIXED ASSETS
Improvements
to Motor
property vehicles Totals
£    £    £   
COST
At 1 June 2023 24,322 16,995 41,317
Disposals (24,322 ) (16,995 ) (41,317 )
At 31 May 2024 - - -
DEPRECIATION
At 1 June 2023 12,160 15,860 28,020
Eliminated on disposal (12,160 ) (15,860 ) (28,020 )
At 31 May 2024 - - -
NET BOOK VALUE
At 31 May 2024 - - -
At 31 May 2023 12,162 1,135 13,297

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 8,031
Prepayments and accrued income - 738
- 8,769

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 5,123
Corporation tax 681 6,318
VAT - 2,054
Cashback Credit card account 25 3,873
Directors' current accounts 52 223
Accruals and deferred income 600 906
1,358 18,497

6. RELATED PARTY DISCLOSURES

The property that the Company trades from is owned by the Director. There is no formal lease in place and £1,065 rent has been charged in the year (2023 - £3,200).