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REGISTERED NUMBER: 03883492 (England and Wales)













Financial Statements

for the Year Ended 30 April 2024

for

Wakefield Carpet and Curtain Centre Ltd

Wakefield Carpet and Curtain Centre Ltd (Registered number: 03883492)






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

Report of the Accountants 9

Wakefield Carpet and Curtain Centre Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: J Cooper
S Cooper





SECRETARY: J Cooper





REGISTERED OFFICE: 47 Market Street
Hemsworth
Pontefract
WF9 4LR





REGISTERED NUMBER: 03883492 (England and Wales)





ACCOUNTANTS: Integra (Angus Nordon) Ltd
47 Market Street
Hemsworth
Pontefract
WF9 4LR

Wakefield Carpet and Curtain Centre Ltd (Registered number: 03883492)

Balance Sheet
30 April 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 52,026 63,153
Investment property 6 250,336 250,336
302,362 313,489

CURRENT ASSETS
Stocks 29,815 24,315
Debtors 7 22,369 61,712
Cash at bank and in hand 14,052 21,871
66,236 107,898
CREDITORS
Amounts falling due within one year 8 241,174 286,180
NET CURRENT LIABILITIES (174,938 ) (178,282 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

127,424

135,207

CREDITORS
Amounts falling due after more than one
year

9

(19,135

)

(15,840

)

PROVISIONS FOR LIABILITIES 11 (9,885 ) (11,999 )
NET ASSETS 98,404 107,368

CAPITAL AND RESERVES
Called up share capital 12 62,000 62,000
Retained earnings 13 36,404 45,368
SHAREHOLDERS' FUNDS 98,404 107,368

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.

Wakefield Carpet and Curtain Centre Ltd (Registered number: 03883492)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 February 2025 and were signed on its behalf by:





S Cooper - Director


Wakefield Carpet and Curtain Centre Ltd (Registered number: 03883492)

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

1. STATUTORY INFORMATION

Wakefield Carpet and Curtain Centre 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.

Significant judgements and estimates
The principal accounting policies and significant judgements and estimates applied in the preparation of these financial statements are set out below. These policies, judgements and estimates have been consistently applied to all years presented unless otherwise stated.

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 is amortised over 10 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.

Motor vehicles- 25% on written down value
Fixtures and fittings- 10% on written down value

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


Wakefield Carpet and Curtain Centre Ltd (Registered number: 03883492)

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 76,000
AMORTISATION
At 1 May 2023
and 30 April 2024 76,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

Wakefield Carpet and Curtain Centre Ltd (Registered number: 03883492)

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 116,919
Additions 275
At 30 April 2024 117,194
DEPRECIATION
At 1 May 2023 53,766
Charge for year 11,402
At 30 April 2024 65,168
NET BOOK VALUE
At 30 April 2024 52,026
At 30 April 2023 63,153

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
and 30 April 2024 36,500
DEPRECIATION
At 1 May 2023 9,125
Charge for year 6,844
At 30 April 2024 15,969
NET BOOK VALUE
At 30 April 2024 20,531
At 30 April 2023 27,375

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 250,336
NET BOOK VALUE
At 30 April 2024 250,336
At 30 April 2023 250,336

Wakefield Carpet and Curtain Centre Ltd (Registered number: 03883492)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 22,369 50,007
Other debtors - 11,705
22,369 61,712

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts 4,699 -
Other loans - 15,993
Hire purchase contracts 3,300 9,206
Trade creditors 41,702 75,469
Other creditor 3,334 1,154
Tax 1,368 -
Social security and other taxes 1,390 1,464
VAT 4,432 -
Director's current account 174,749 176,694
Accrued expenses 6,200 6,200
241,174 286,180

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
as restated
£    £   
Bank loans - 1-2 years 4,699 -
Bank loans - 2-5 years 1,896 -
Hire purchase contracts 12,540 15,840
19,135 15,840

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£    £   
Hire purchase contracts 15,840 25,046

Wakefield Carpet and Curtain Centre Ltd (Registered number: 03883492)

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

11. PROVISIONS FOR LIABILITIES
2024 2023
as restated
£    £   
Deferred tax 9,885 11,999

Deferred
tax
£   
Balance at 1 May 2023 11,999
Movement arising during year (2,114 )
Balance at 30 April 2024 9,885

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as
restated
£    £   
62,000 Ordinary £1 62,000 62,000

13. RESERVES
Retained
earnings
£   

At 1 May 2023 121,368
Prior year adjustment (76,000 )
45,368
Profit for the year 25,036
Dividends (34,000 )
At 30 April 2024 36,404

14. RELATED PARTY DISCLOSURES

During the year, salaries of £30,482 (2023 £30,451) were paid to the directors', together with dividends of £34,000 (2023 £30,500).

Wakefield Carpet and Curtain Centre Ltd

Report of the Accountants to the Directors of
Wakefield Carpet and Curtain Centre Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 April 2024 set out on pages three to eleven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Integra (Angus Nordon) Ltd
47 Market Street
Hemsworth
Pontefract
WF9 4LR


4 February 2025