Registered number: 07629849 | ||||||||
FOR THE YEAR ENDED 31/05/2024 | ||||||||
Prepared By: | ||||||||
JAN G GROMADZKI | ||||||||
CHARTERED ACCOUNTANT | ||||||||
13 WOLVERHAMPTON ROAD | ||||||||
CODSALL | ||||||||
WOLVERHAMPTON | ||||||||
WEST MIDLANDS | ||||||||
WV8 1PT |
NEW ENGLAND FLOORING COMPANY LIMITED | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/05/2024 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
WEST MIDLANDS | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 07629849 | ||||||||
BANKERS | ||||||||
BARCLAYS BANK PLC | ||||||||
ACCOUNTANTS | ||||||||
JAN G GROMADZKI | ||||||||
CHARTERED ACCOUNTANT | ||||||||
13 WOLVERHAMPTON ROAD | ||||||||
CODSALL | ||||||||
WOLVERHAMPTON | ||||||||
WEST MIDLANDS | ||||||||
WV8 1PT |
NEW ENGLAND FLOORING COMPANY LIMITED | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/05/2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
NEW ENGLAND FLOORING COMPANY LIMITED | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 4 | |||||||||
Cash at bank and in hand | ||||||||||
39,464 | 25,985 | |||||||||
CREDITORS: Amounts falling due within one year | 5 | |||||||||
NET CURRENT ASSETS / (LIABILITIES) | (3,933) | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 6 | 10,033 | 14,485 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 8 | |||||||||
NET ASSETS / (LIABILITIES) | ( | |||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 9 | |||||||||
Profit and loss account | 2,747 | (8,922) | ||||||||
SHAREHOLDERS' FUNDS | ( | |||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
NEW ENGLAND FLOORING COMPANY LIMITED | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/05/2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is an indication that any items have suffered impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. | ||||||||
Plant And Machinery | straight line10% | |||||||
Commercial Vehicles | straight line10% | |||||||
Equipment | straight line10% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1d. Basis Of Accounting FRS 1021 a | ||||||||
The accounts have been prepared under the historical cost convention and are stated in United Kingdom Pounds Sterling. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. |
NEW ENGLAND FLOORING COMPANY LIMITED | ||||||||
2. TANGIBLE FIXED ASSETS | ||||||||
Plant and | Commercial | |||||||
Machinery | Vehicles | Equipment | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 01/06/2023 | 3,627 | 20,745 | 1,982 | 26,354 | ||||
Additions | 260 | - | - | 260 | ||||
Disposals | (400) | - | - | (400) | ||||
At 31/05/2024 | 3,487 | 20,745 | 1,982 | 26,214 | ||||
Depreciation | ||||||||
At 01/06/2023 | 1,793 | 12,600 | 1,438 | 15,831 | ||||
Disposals | (400) | - | - | (400) | ||||
For the year | 348 | 1,500 | 198 | 2,046 | ||||
At 31/05/2024 | 1,741 | 14,100 | 1,636 | 17,477 | ||||
Net Book Amounts | ||||||||
At 31/05/2024 | 8,737 | |||||||
At 31/05/2023 | 10,523 | |||||||
3. STOCK | 2024 | 2023 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
4. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 11,631 | 6,125 | ||||||
Other tax | 1,191 | - | ||||||
VAT | 4,728 | - | ||||||
Prepayments | 7,556 | 8,853 | ||||||
Directors current account | - | 914 | ||||||
25,106 | 15,892 | |||||||
NEW ENGLAND FLOORING COMPANY LIMITED | ||||||||
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
UK corporation tax | 7,664 | 4,766 | ||||||
VAT | - | 1,817 | ||||||
PAYE control | 425 | 3,848 | ||||||
Directors current account | 1,296 | - | ||||||
Bank loans and overdrafts | - | 3,555 | ||||||
Loans | - | 4,000 | ||||||
Trade creditors | 17,830 | 5,302 | ||||||
Accruals | 7,325 | 6,630 | ||||||
34,540 | 29,918 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Bank loans (unsecured) >1yr | 10,033 | 14,485 | ||||||
10,033 | 14,485 | |||||||
7. EMPLOYEES | ||||||||
2024 | 2023 | |||||||
No. | No. | |||||||
Average number of employees | 3 | |||||||
Key management personnel is restricted to that of the director. | ||||||||
8. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
£ | £ | |||||||
Deferred taxation | 781 | 927 | ||||||
781 | 927 | |||||||
NEW ENGLAND FLOORING COMPANY LIMITED | ||||||||
9. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
100 | 100 | |||||||
100 | 100 | |||||||
10. CONTROLLING PARTY | ||||||||
The company is under the control of the director Mr C Brooks who owns fifty per cent of the one hundred shares in issue. The director also has a beneficial interest in the other fifty shares which are owned by his wife. | ||||||||
11. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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12. NATURE OF OPERATIONS AND PRINCIPAL ACTIVITIES | ||||||||
The company is principally involved in both the supply and fitting of floor coverings and carpets. All of its activities are carried out within the United Kingdom. | ||||||||
13. GENERAL INFORMATION | ||||||||
New England Flooring Company Limited is a private company limited by shares and incorporated in England. Its registered office is 14 Highlands Road, Finchfield, Wolverhampton, West Midlands, WV3 8AG. | ||||||||
The financial statements are presented in United Kingdom Pounds Sterling, which is the functional currency of the company. | ||||||||