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REGISTERED NUMBER: 07530589 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 March 2024

for

The Commercial Flooring Company
(Midlands) Limited

The Commercial Flooring Company
(Midlands) Limited (Registered number: 07530589)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Commercial Flooring Company
(Midlands) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: N J Ware
K Tunaley
S M Leonard





REGISTERED OFFICE: The Coach House, Dovecote Court
Pingle Lane
Potters Marston
Leicester
Leicestershire
LE9 3JR





REGISTERED NUMBER: 07530589 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

The Commercial Flooring Company
(Midlands) Limited (Registered number: 07530589)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 183,057 164,240

CURRENT ASSETS
Stocks 24,682 39,724
Debtors 5 2,428,033 3,101,553
Cash at bank 142,601 30,022
2,595,316 3,171,299
CREDITORS
Amounts falling due within one year 6 2,257,484 2,649,475
NET CURRENT ASSETS 337,832 521,824
TOTAL ASSETS LESS CURRENT
LIABILITIES

520,889

686,064

CREDITORS
Amounts falling due after more than one year 7 (297,105 ) (437,281 )

PROVISIONS FOR LIABILITIES (11,671 ) (4,390 )
NET ASSETS 212,113 244,393

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 212,013 244,293
SHAREHOLDERS' FUNDS 212,113 244,393

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.

The Commercial Flooring Company
(Midlands) Limited (Registered number: 07530589)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2024 and were signed on its behalf by:





N J Ware - Director


The Commercial Flooring Company
(Midlands) Limited (Registered number: 07530589)

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

1. STATUTORY INFORMATION

The Commercial Flooring Company (Midlands) 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
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.
Horses - 25% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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 42 (2023 - 41 ) .

The Commercial Flooring Company
(Midlands) Limited (Registered number: 07530589)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
Horses machinery fittings
£    £    £   
COST
At 1 April 2023 36,769 1,507 18,622
Additions - - 11,602
Disposals - - -
At 31 March 2024 36,769 1,507 30,224
DEPRECIATION
At 1 April 2023 24,084 1,118 9,841
Charge for year 8,052 97 8,152
Eliminated on disposal - - -
At 31 March 2024 32,136 1,215 17,993
NET BOOK VALUE
At 31 March 2024 4,633 292 12,231
At 31 March 2023 12,685 389 8,781

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 198,637 27,763 283,298
Additions 115,800 7,261 134,663
Disposals (57,960 ) - (57,960 )
At 31 March 2024 256,477 35,024 360,001
DEPRECIATION
At 1 April 2023 56,252 27,763 119,058
Charge for year 59,071 2,396 77,768
Eliminated on disposal (19,882 ) - (19,882 )
At 31 March 2024 95,441 30,159 176,944
NET BOOK VALUE
At 31 March 2024 161,036 4,865 183,057
At 31 March 2023 142,385 - 164,240

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,291,249 2,798,981
Amounts owed by group undertakings 30,345 16,652
Other debtors 4,024 5,423
Directors' loan accounts 37,514 9,931
VAT 60,901 137,691
Prepayments and accrued income 4,000 132,875
2,428,033 3,101,553

The Commercial Flooring Company
(Midlands) Limited (Registered number: 07530589)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 166,663 316,918
Hire purchase contracts 40,080 31,720
Trade creditors 854,935 1,131,592
Tax 1,897 64,483
Social security and other taxes 74,181 219,356
Other creditors 1,010,767 833,809
Accruals and deferred income 108,961 51,597
2,257,484 2,649,475

Included in other creditors is £1,010,767 (2023 - £833,809) due to Natwest

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 84,998 164,377
Bank loans - 2-5 years 77,123 160,315
Hire purchase contracts 134,984 112,589
297,105 437,281

8. SECURED DEBTS

The company has given a fixed and floating charge over its assets in favour of IGF Business Credit Limited.

9. OTHER FINANCIAL COMMITMENTS

At 31 March 2024 the company had other financial commitments of £13,403 (2023 - £44,842).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
N J Ware
Balance outstanding at start of year 9,931 19,748
Amounts advanced 27,583 65,133
Amounts repaid - (74,950 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 37,514 9,931

11. RELATED PARTY DISCLOSURES

At 31 March 2024 the company was owed £37,514 (2023 - £9,931) by the directors.

At the year end the company was owed £30,345 (2023 - £16,652) by The Commercial Tiling Company (Midlands) Limited.

12. ULTIMATE CONTROLLING PARTY

The controlling party is The De Mai Group Limited.