BrightAccountsProduction v1.0.0 v1.0.0 2023-10-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the retailing of household carpets and flooring products. 3 March 2025 NI055440 2024-09-30 NI055440 2023-09-30 NI055440 2022-09-30 NI055440 2023-10-01 2024-09-30 NI055440 2022-10-01 2023-09-30 NI055440 uk-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 NI055440 uk-curr:PoundSterling 2023-10-01 2024-09-30 NI055440 uk-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 NI055440 uk-bus:FullAccounts 2023-10-01 2024-09-30 NI055440 uk-bus:Director1 2023-10-01 2024-09-30 NI055440 uk-bus:CompanySecretaryDirector1 2023-10-01 2024-09-30 NI055440 uk-bus:Director3 2023-10-01 2024-09-30 NI055440 uk-bus:CompanySecretary1 2023-10-01 2024-09-30 NI055440 uk-bus:RegisteredOffice 2023-10-01 2024-09-30 NI055440 uk-bus:Agent1 2023-10-01 2024-09-30 NI055440 uk-core:ShareCapital 2024-09-30 NI055440 uk-core:ShareCapital 2023-09-30 NI055440 uk-core:RetainedEarningsAccumulatedLosses 2024-09-30 NI055440 uk-core:RetainedEarningsAccumulatedLosses 2023-09-30 NI055440 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-09-30 NI055440 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-09-30 NI055440 uk-bus:FRS102 2023-10-01 2024-09-30 NI055440 uk-core:Goodwill 2023-10-01 2024-09-30 NI055440 uk-core:PlantMachinery 2023-10-01 2024-09-30 NI055440 uk-core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 NI055440 uk-core:MotorVehicles 2023-10-01 2024-09-30 NI055440 uk-core:Goodwill 2023-09-30 NI055440 uk-core:Goodwill 2024-09-30 NI055440 uk-core:CurrentFinancialInstruments 2024-09-30 NI055440 uk-core:CurrentFinancialInstruments 2023-09-30 NI055440 uk-core:WithinOneYear 2024-09-30 NI055440 uk-core:WithinOneYear 2023-09-30 NI055440 uk-core:WithinOneYear 2024-09-30 NI055440 uk-core:WithinOneYear 2023-09-30 NI055440 uk-core:AfterOneYear 2024-09-30 NI055440 uk-core:AfterOneYear 2023-09-30 NI055440 uk-core:BetweenOneTwoYears 2024-09-30 NI055440 uk-core:BetweenOneTwoYears 2023-09-30 NI055440 uk-core:BetweenTwoFiveYears 2024-09-30 NI055440 uk-core:BetweenTwoFiveYears 2023-09-30 NI055440 2023-10-01 2024-09-30 NI055440 uk-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI055440
 
 
Portadown Carpet Centre Limited
 
Unaudited Financial Statements
 
for the financial year ended 30 September 2024
Portadown Carpet Centre Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Mr James Stinson
Ms Julie Stinson
Mrs Jacqueline Stinson
 
 
Company Secretary Ms Julie Stinson
 
 
Company Registration Number NI055440
 
 
Registered Office 9 Drumnacanvy Lodge
Portadown
Co. Armagh
BT63 5XY
Northern Ireland
 
 
Business Address 5 Shillington Street
Portadown
Co. Armagh
BT62 3PF
Northern Ireland
 
 
Accountants MG accountants
(Portadown)
25-27 Carleton Street
Portadown
Co. Armagh
BT62 3EP
United Kingdom
 
 
Bankers Danske Bank
  45 - 48 High Street
  Portadown
  Co. Armagh
  BT62 1LB
  United Kingdom



Portadown Carpet Centre Limited
Company Registration Number: NI055440
BALANCE SHEET
as at 30 September 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 5 10,767 11,307
───────── ─────────
 
Current Assets
Stocks 6 131,970 115,653
Debtors 7 26,427 62,448
Cash and cash equivalents 193,224 168,045
───────── ─────────
351,621 346,146
───────── ─────────
Creditors: amounts falling due within one year 8 (168,326) (151,904)
───────── ─────────
Net Current Assets 183,295 194,242
───────── ─────────
Total Assets less Current Liabilities 194,062 205,549
 
Creditors:
amounts falling due after more than one year 9 (16,696) (27,313)
───────── ─────────
Net Assets 177,366 178,236
═════════ ═════════
 
Capital and Reserves
Called up share capital 200 200
Retained earnings 177,166 178,036
───────── ─────────
Equity attributable to owners of the company 177,366 178,236
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 3 March 2025 and signed on its behalf by
           
           
           
________________________________          
Mr James Stinson          
Director          
           
           
           
________________________________
Ms Julie Stinson
Director
           



Portadown Carpet Centre Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 September 2024

   
1. General Information
 
Portadown Carpet Centre Limited is a company limited by shares incorporated in Northern Ireland. The registered office of the company is 9 Drumnacanvy Lodge, Portadown, Co. Armagh, BT63 5XY, Northern Ireland. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 30 September 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business , and is shown net of VAT and other sales related taxes . The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 5 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 20% Reducing Balance
  Fixtures, fittings and equipment - 15% Reducing Balance
  Motor vehicles - 20% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts).
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 7, (2023 - 6).
 
  2024 2023
  Number Number
 
Directors 3 3
Employee 4 3
  ───────── ─────────
  7 6
  ═════════ ═════════
       
4. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 October 2023 200,000 200,000
  ───────── ─────────
 
At 30 September 2024 200,000 200,000
  ───────── ─────────
Amortisation
 
At 30 September 2024 200,000 200,000
  ───────── ─────────
Net book value
At 30 September 2024 - -
  ═════════ ═════════
           
5. Tangible assets
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost or Valuation
At 1 October 2023 19,645 15,590 19,331 54,566
Additions - 1,875 - 1,875
  ───────── ───────── ───────── ─────────
At 30 September 2024 19,645 17,465 19,331 56,441
  ───────── ───────── ───────── ─────────
Depreciation
At 1 October 2023 17,592 13,035 12,632 43,259
Charge for the financial year 411 664 1,340 2,415
  ───────── ───────── ───────── ─────────
At 30 September 2024 18,003 13,699 13,972 45,674
  ───────── ───────── ───────── ─────────
Net book value
At 30 September 2024 1,642 3,766 5,359 10,767
  ═════════ ═════════ ═════════ ═════════
At 30 September 2023 2,053 2,555 6,699 11,307
  ═════════ ═════════ ═════════ ═════════
       
6. Stocks 2024 2023
  £ £
 
Goods for resale 131,970 115,653
  ═════════ ═════════
       
7. Debtors 2024 2023
  £ £
 
Trade debtors 19,175 56,781
Taxation  (Note 10) 1,585 -
Prepayments and accrued income 5,667 5,667
  ───────── ─────────
  26,427 62,448
  ═════════ ═════════
       
8. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bank loan 10,656 10,656
Trade creditors 23,093 40,166
Taxation  (Note 10) 57,807 44,481
Directors' current accounts 39,981 39,881
Other creditors 23,009 2,940
Accruals 13,780 13,780
  ───────── ─────────
  168,326 151,904
  ═════════ ═════════
       
9. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Bank loan 16,696 27,313
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 8) 10,656 10,656
Repayable between one and two years 10,656 10,656
Repayable between two and five years 6,040 16,657
  ───────── ─────────
  27,352 37,969
  ═════════ ═════════
 
       
10. Taxation 2024 2023
  £ £
 
Debtors:
PAYE / NI 1,585 -
  ═════════ ═════════
Creditors:
VAT 44,128 25,496
Corporation tax 13,679 18,985
  ───────── ─────────
  57,807 44,481
  ═════════ ═════════