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Registered Number: 06931448
England and Wales

 

 

 

FLOORS FOR THOUGHT LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Director Simon Mark James Puxty
Registered Number 06931448
Registered Office 103-105 Battersea Rise
Battersea
London
SW11 1HW
Accountants Ludlow Painter Limited
Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN
1
Director's report and financial statements
The director presents his annual report and the financial statements for the year ended 31 August 2024.
Principal activities
The principal activity of the company during the financial year was of flooring services.
Director
The director who served the company throughout the year was as follows:
Simon Mark James Puxty


Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the companys transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Simon Mark James Puxty
Director

Date approved: 27 January 2025
2
Report to the director on the preparation of the unaudited statutory accounts of Floors For Thought Limited for the year ended 31 August 2024.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Floors For Thought Limited for the year ended 31 August 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of Floors For Thought Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Floors For Thought Limited and state those matters that we have agreed to state to the Board of Directors of Floors For Thought Limited, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Floors For Thought Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Floors For Thought Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Floors For Thought Limited.You consider that Floors For Thought Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of Floors For Thought Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 31 August 2024.



....................................................
Ludlow Painter Limited
Produce House
1a Wickham Court Road
West Wickham
Kent
BR4 9LN
27 January 2025
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 5 8,906    11,875 
8,906    11,875 
Current assets      
Stocks 6 5,180    5,578 
Debtors 7 57,993    56,338 
Cash at bank and in hand 219,914    254,337 
283,087    316,253 
Creditors: amount falling due within one year 8 (55,992)   (57,692)
Net current assets 227,095    258,561 
 
Total assets less current liabilities 236,001    270,436 
Creditors: amount falling due after more than one year 9 (9,167)   (21,658)
Net assets 226,834    248,778 
 

Capital and reserves
     
Called up share capital 10 2    2 
Profit and loss account 226,832    248,776 
Shareholders' funds 226,834    248,778 
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 27 January 2025 and were signed by:


-------------------------------
Simon Mark James Puxty
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 September 2022 2  236,442  236,444 
Profit for the year 43,584  43,584 
Total comprehensive income for the year 43,584  43,584 
Dividends (31,250) (31,250)
Total investments by and distributions to owners (31,250) (31,250)
At 31 August 2023 2  248,776  248,778 
At 01 September 2023 2  248,776  248,778 
Profit for the year 2,956  2,956 
Total comprehensive income for the year 2,956  2,956 
Dividends (24,900) (24,900)
Total investments by and distributions to owners (24,900) (24,900)
At 31 August 2024 2  226,832  226,834 
5
General Information
Floors For Thought Limited is a private company, limited by shares, registered in England and Wales, registration number 06931448, registration address 103-105 Battersea Rise, Battersea, London, SW11 1HW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Website cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Directors' Emoluments

2024
£
  2023
£
Administrative Expenses
Director's Remuneration 12,570    10,522 
12,570    10,522 

3.

Staff Costs

2024
£
  2023
£
Wages and salaries 195,033    153,420 
Pension costs, defined contribution plan 10,890    8,852 
Other staff costs 3,245    95 
209,168    162,367 

4.

Average number of employees

Average number of employees during the year was 5 (2023 : 2).
5.

Tangible fixed assets

Cost or valuation Motor Vehicles   Computer Equipment   Total
  £   £   £
At 01 September 2023 13,650    3,218    16,868 
Additions    
Disposals    
At 31 August 2024 13,650    3,218    16,868 
Depreciation
At 01 September 2023 3,413    1,580    4,993 
Charge for year 2,559    410    2,969 
On disposals    
At 31 August 2024 5,972    1,990    7,962 
Net book values
Closing balance as at 31 August 2024 7,678    1,228    8,906 
Opening balance as at 01 September 2023 10,237    1,638    11,875 


6.

Stocks

2024
£
  2023
£
Stocks 5,180    5,578 
5,180    5,578 

7.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 56,715    55,075 
Prepayments & Accrued Income 1,278    1,263 
57,993    56,338 

8.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 32,150    21,550 
Bank Loans & Overdrafts 10,000    10,000 
Corporation Tax 1,924    7,944 
PAYE & Social Security   3,617 
Other Creditors 1,490    1,570 
Obligations under HP/Financial Leases 2,491    5,980 
Credit Card Account 1,484    1,099 
Director's Current Account 17    39 
VAT 6,436    5,893 
55,992    57,692 

9.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 9,167    19,167 
Obligations Under HP/Financial Leases   2,491 
9,167    21,658 

10.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
2 Class A shares of £1.00 each  
 

6