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REGISTERED NUMBER: 05837800















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

POWELL QUALITY FLOORING LIMITED

POWELL QUALITY FLOORING LIMITED (REGISTERED NUMBER: 05837800)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


POWELL QUALITY FLOORING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: D Powell
L J Powell
M D Powell
A Powell





SECRETARY: L J Powell





REGISTERED OFFICE: Cheribourne House
45A Station Road
Willington
Bedford
Bedfordshire
MK44 3QL





REGISTERED NUMBER: 05837800





ACCOUNTANTS: Baker Noel
Cheribourne House
45A Station Road
Willington
Bedford
Bedfordshire
MK44 3QL

POWELL QUALITY FLOORING LIMITED (REGISTERED NUMBER: 05837800)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,317 50,855

CURRENT ASSETS
Stocks 22,450 22,000
Debtors 5 253,061 263,210
Cash at bank 88,083 64,908
363,594 350,118
CREDITORS
Amounts falling due within one year 6 220,743 205,780
NET CURRENT ASSETS 142,851 144,338
TOTAL ASSETS LESS CURRENT
LIABILITIES

167,168

195,193

CREDITORS
Amounts falling due after more than one
year

7

(12,289

)

(22,189

)

PROVISIONS FOR LIABILITIES (6,079 ) (10,380 )
NET ASSETS 148,800 162,624

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 148,700 162,524
SHAREHOLDERS' FUNDS 148,800 162,624

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

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

POWELL QUALITY FLOORING LIMITED (REGISTERED NUMBER: 05837800)

BALANCE SHEET - continued
31 AUGUST 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 27 January 2025 and were signed on its behalf by:




D Powell - Director



A Powell - Director


POWELL QUALITY FLOORING LIMITED (REGISTERED NUMBER: 05837800)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Powell Quality Flooring 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.
Plant and machinery - 15% on cost
Motor vehicles - 25% on cost
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.

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.

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.

POWELL QUALITY FLOORING LIMITED (REGISTERED NUMBER: 05837800)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 32,362 13,140 136,104 6,596 188,202
Additions - - 4,100 1,632 5,732
At 31 August 2024 32,362 13,140 140,204 8,228 193,934
DEPRECIATION
At 1 September 2023 23,871 9,345 97,685 6,446 137,347
Charge for year 2,614 2,326 26,956 374 32,270
At 31 August 2024 26,485 11,671 124,641 6,820 169,617
NET BOOK VALUE
At 31 August 2024 5,877 1,469 15,563 1,408 24,317
At 31 August 2023 8,491 3,795 38,419 150 50,855

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 225,511 248,474
Other debtors 27,550 14,736
253,061 263,210

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 53,136 35,793
Taxation and social security 28,178 25,440
Other creditors 129,429 134,547
220,743 205,780

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 12,289 22,189