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REGISTERED NUMBER: 05166844 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

DIRECT FLOORING SUPPLIERS LIMITED

DIRECT FLOORING SUPPLIERS LIMITED (REGISTERED NUMBER: 05166844)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DIRECT FLOORING SUPPLIERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: D Unna



SECRETARY: E L Unna



REGISTERED OFFICE: Town End Farm
North Marine Road
Flamborough
Bridlington
East Yorkshire
YO15 1LF



REGISTERED NUMBER: 05166844 (England and Wales)



ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ



BANKERS: HSBC Plc
63 Market Place
Beverley
East Yorkshire
HU17 8AL

DIRECT FLOORING SUPPLIERS LIMITED (REGISTERED NUMBER: 05166844)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 91,386 128,594

CURRENT ASSETS
Stocks 4,423 27,598
Debtors 5 168,159 188,781
Cash at bank 7,250 17,362
179,832 233,741
CREDITORS
Amounts falling due within one year 6 107,386 120,868
NET CURRENT ASSETS 72,446 112,873
TOTAL ASSETS LESS CURRENT
LIABILITIES

163,832

241,467

CREDITORS
Amounts falling due after more than one
year

7

(97,406

)

(180,709

)

PROVISIONS FOR LIABILITIES (22,343 ) (21,513 )
NET ASSETS 44,083 39,245

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 43,983 39,145
SHAREHOLDERS' FUNDS 44,083 39,245

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

DIRECT FLOORING SUPPLIERS LIMITED (REGISTERED NUMBER: 05166844)

BALANCE SHEET - continued
30 JUNE 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 director and authorised for issue on 20 January 2025 and were signed by:





D Unna - Director


DIRECT FLOORING SUPPLIERS LIMITED (REGISTERED NUMBER: 05166844)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Direct Flooring Suppliers 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.

Turnover is derived from supply and fit of flooring products and is recognised or the change of goods and on provision of services.

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.
Short leasehold - 4% on cost
Plant and machinery - 25% on reducing balance
Office equipment - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 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.

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.

DIRECT FLOORING SUPPLIERS LIMITED (REGISTERED NUMBER: 05166844)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

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 the statement of income and retained earnings over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the statement of income and retained earnings on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates an auto enrolment pension scheme. Contributions payable to the company's pension scheme are charged to the statement of income and retained earnings in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 - 277,019 277,019
Additions 7,266 15,691 22,957
Disposals - (74,350 ) (74,350 )
At 30 June 2024 7,266 218,360 225,626
DEPRECIATION
At 1 July 2023 - 148,425 148,425
Charge for year 291 35,551 35,842
Eliminated on disposal - (50,027 ) (50,027 )
At 30 June 2024 291 133,949 134,240
NET BOOK VALUE
At 30 June 2024 6,975 84,411 91,386
At 30 June 2023 - 128,594 128,594

The net book value of tangible fixed assets includes £ 32,468 (2023 - £ 89,997 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 81,471 96,357
Amounts owed by associates 80,074 83,074
Other debtors 6,614 9,350
168,159 188,781

DIRECT FLOORING SUPPLIERS LIMITED (REGISTERED NUMBER: 05166844)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 34,015 39,754
Hire purchase contracts 11,303 26,956
Trade creditors 29,252 37,269
Taxation and social security 24,924 14,259
Other creditors 7,892 2,630
107,386 120,868

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 79,863 109,923
Hire purchase contracts 17,543 70,786
97,406 180,709

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 30,415

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Hire purchase contracts 28,846 97,742
Bank loan 63,741 70,799
92,587 168,541