IRIS Accounts Production v24.3.2.46 05813534 Board of Directors Board of Directors 1.5.23 30.4.24 30.4.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh058135342023-04-30058135342024-04-30058135342023-05-012024-04-30058135342022-04-30058135342022-05-012023-04-30058135342023-04-3005813534ns15:EnglandWales2023-05-012024-04-3005813534ns14:PoundSterling2023-05-012024-04-3005813534ns10:Director12023-05-012024-04-3005813534ns10:Director22023-05-012024-04-3005813534ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3005813534ns10:SmallEntities2023-05-012024-04-3005813534ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3005813534ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3005813534ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3005813534ns10:FullAccounts2023-05-012024-04-300581353412023-05-012024-04-3005813534ns10:RegisteredOffice2023-05-012024-04-3005813534ns5:CurrentFinancialInstruments2024-04-3005813534ns5:CurrentFinancialInstruments2023-04-3005813534ns5:Non-currentFinancialInstruments2024-04-3005813534ns5:Non-currentFinancialInstruments2023-04-3005813534ns5:ShareCapital2024-04-3005813534ns5:ShareCapital2023-04-3005813534ns5:RetainedEarningsAccumulatedLosses2024-04-3005813534ns5:RetainedEarningsAccumulatedLosses2023-04-3005813534ns5:NetGoodwill2023-05-012024-04-3005813534ns5:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3005813534ns5:PlantMachinery2023-05-012024-04-3005813534ns5:NetGoodwill2023-04-3005813534ns5:NetGoodwill2024-04-3005813534ns5:NetGoodwill2023-04-3005813534ns5:PlantMachinery2023-04-3005813534ns5:PlantMachinery2024-04-3005813534ns5:PlantMachinery2023-04-3005813534ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-04-3005813534ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-04-3005813534ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-05-012024-04-3005813534ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-04-3005813534ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3005813534ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-3005813534ns5:Secured2024-04-3005813534ns5:Secured2023-04-30
REGISTERED NUMBER: 05813534 (England and Wales)
















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Solent Contract Flooring Ltd

Solent Contract Flooring Ltd (Registered number: 05813534)






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


Solent Contract Flooring Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: J Bosworth
J Potter





REGISTERED OFFICE: 1 Manor Court
6 Barnes Wallis Road
Fareham
Hampshire
PO15 5TH





REGISTERED NUMBER: 05813534 (England and Wales)





ACCOUNTANTS: Roches
Chartered Accountants
1 Manor Court
6 Barnes Wallis Road
Segensworth
Fareham
Hampshire
PO15 5TH

Solent Contract Flooring Ltd (Registered number: 05813534)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 700 1,400
Tangible assets 5 19,990 26,428
20,690 27,828

CURRENT ASSETS
Stocks 86,684 104,793
Debtors 6 62,501 144,725
Cash at bank and in hand 49,187 43,828
198,372 293,346
CREDITORS
Amounts falling due within one year 7 184,054 240,059
NET CURRENT ASSETS 14,318 53,287
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,008

81,115

CREDITORS
Amounts falling due after more than one
year

8

(30,473

)

(69,237

)

PROVISIONS FOR LIABILITIES (2,860 ) (4,127 )
NET ASSETS 1,675 7,751

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 1,475 7,551
SHAREHOLDERS' FUNDS 1,675 7,751

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.

Solent Contract Flooring Ltd (Registered number: 05813534)

Balance Sheet - continued
30 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:




J Bosworth - Director



J Potter - Director


Solent Contract Flooring Ltd (Registered number: 05813534)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Solent Contract Flooring Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten 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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 30% on reducing balance, 25% on reducing balance and 15% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to related parties.

Financial assets & financial liabilities are initially recognised at the transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. However, if the arrangement constitutes a financing transaction then it is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assets & financial liabilities classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Solent Contract Flooring Ltd (Registered number: 05813534)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 7,000
AMORTISATION
At 1 May 2023 5,600
Charge for year 700
At 30 April 2024 6,300
NET BOOK VALUE
At 30 April 2024 700
At 30 April 2023 1,400

Solent Contract Flooring Ltd (Registered number: 05813534)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 72,073
DEPRECIATION
At 1 May 2023 45,645
Charge for year 6,438
At 30 April 2024 52,083
NET BOOK VALUE
At 30 April 2024 19,990
At 30 April 2023 26,428

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 May 2023 41,989
Transfer to ownership (18,000 )
At 30 April 2024 23,989
DEPRECIATION
At 1 May 2023 19,726
Charge for year 5,565
Transfer to ownership (14,796 )
At 30 April 2024 10,495
NET BOOK VALUE
At 30 April 2024 13,494
At 30 April 2023 22,263

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 57,313 144,725
Other debtors 5,188 -
62,501 144,725

Solent Contract Flooring Ltd (Registered number: 05813534)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 17,508 88,978
Hire purchase contracts 4,219 8,063
Trade creditors 96,468 64,616
Taxation and social security 57,384 53,066
Other creditors 8,475 25,336
184,054 240,059

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 15,758 30,303
Hire purchase contracts 14,715 18,934
Other creditors - 20,000
30,473 69,237

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank overdraft 2,963 -
Hire purchase contracts 18,934 26,997
21,897 26,997

A fixed and floating charge is held over all of the company assets by Lloyds Bank Plc.

The hire purchase debt is secured against the related asset.

10. OTHER FINANCIAL COMMITMENTS

As at the year end, the company had obligations totalling £67,251 (2023 : £Nil) under non-cancellable operating leases.