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Registered number: 05392443
The Classic Floor Company Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Alliance Accountants Ltd
19 Gloucester Road
Ross on Wye
Herefordshire
HR9 5LQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05392443
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,972 4,970
3,972 4,970
CURRENT ASSETS
Stocks 5 26,944 26,944
Debtors 6 6,804 19,046
Cash at bank and in hand 12,110 27,383
45,858 73,373
Creditors: Amounts Falling Due Within One Year 7 (130,478 ) (134,357 )
NET CURRENT ASSETS (LIABILITIES) (84,620 ) (60,984 )
TOTAL ASSETS LESS CURRENT LIABILITIES (80,648 ) (56,014 )
Creditors: Amounts Falling Due After More Than One Year 8 (5,402 ) (10,601 )
NET LIABILITIES (86,050 ) (66,615 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (86,150 ) (66,715 )
SHAREHOLDERS' FUNDS (86,050) (66,615)
Page 1
Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Philip Whittaker
Director
29/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Classic Floor Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05392443 . The registered office is Unit 1 Wonastow Road Industrial, Estate East, Monmouth, NP25 5JB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 15% reducing balance
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 33% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 6)
5 6
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4. Tangible Assets
Land & Property
Leasehold Investment Properties Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 May 2023 8,035 1,600 13,991 7,000
As at 30 April 2024 8,035 1,600 13,991 7,000
Depreciation
As at 1 May 2023 7,604 1,600 13,456 6,066
Provided during the period 65 - 133 186
As at 30 April 2024 7,669 1,600 13,589 6,252
Net Book Value
As at 30 April 2024 366 - 402 748
As at 1 May 2023 431 - 535 934
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 May 2023 16,401 8,021 55,048
As at 30 April 2024 16,401 8,021 55,048
Depreciation
As at 1 May 2023 14,592 6,760 50,078
Provided during the period 361 253 998
As at 30 April 2024 14,953 7,013 51,076
Net Book Value
As at 30 April 2024 1,448 1,008 3,972
As at 1 May 2023 1,809 1,261 4,970
5. Stocks
2024 2023
£ £
Stock 26,944 26,944
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 5,922 19,046
Other debtors 882 -
6,804 19,046
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 11,425 24,223
Bank loans and overdrafts 5,015 4,816
Other creditors 113,108 102,096
Taxation and social security 930 3,222
130,478 134,357
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 5,402 10,601
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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