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WHITLEY BAY CARPET CENTRE LIMITED

Registered Number
01706670
(England and Wales)

Unaudited Financial Statements for the Year ended
15 May 2024

WHITLEY BAY CARPET CENTRE LIMITED
Company Information
for the year from 16 May 2023 to 15 May 2024

Director

HATT, Jeanne Patricia

Company Secretary

HATT, Jeanne

Registered Address

1 Marden Road
Whitley Bay
Tyne & Wear
NE26 2JH

Registered Number

01706670 (England and Wales)
WHITLEY BAY CARPET CENTRE LIMITED
Balance Sheet as at
15 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3222,721244,561
222,721244,561
Current assets
Stocks46,0006,000
Debtors515,47915,498
Cash at bank and on hand11,53980,167
33,018101,665
Creditors amounts falling due within one year6(41,834)(72,882)
Net current assets (liabilities)(8,816)28,783
Total assets less current liabilities213,905273,344
Net assets213,905273,344
Capital and reserves
Called up share capital5252
Profit and loss account213,853273,292
Shareholders' funds213,905273,344
The financial statements were approved and authorised for issue by the Director on 6 February 2025, and are signed on its behalf by:
HATT, Jeanne Patricia
Director
Registered Company No. 01706670
WHITLEY BAY CARPET CENTRE LIMITED
Notes to the Financial Statements
for the year ended 15 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Vehicles20
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year55
3.Tangible fixed assets

Land & buildings

Vehicles

Total

£££
Cost or valuation
At 16 May 23188,775115,412304,187
Disposals-(21,319)(21,319)
At 15 May 24188,77594,093282,868
Depreciation and impairment
At 16 May 23-59,62659,626
Charge for year-10,61710,617
On disposals-(10,096)(10,096)
At 15 May 24-60,14760,147
Net book value
At 15 May 24188,77533,946222,721
At 15 May 23188,77555,786244,561
4.Stocks

2024

2023

££
Finished goods6,0006,000
Total6,0006,000
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables15,37315,443
Other debtors10655
Total15,47915,498
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables19,34834,474
Bank borrowings and overdrafts1,385-
Taxation and social security21,10138,408
Total41,83472,882