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REGISTERED NUMBER: 02735452 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

IMAGE CONTRACT FLOORING LTD

IMAGE CONTRACT FLOORING LTD (REGISTERED NUMBER: 02735452)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IMAGE CONTRACT FLOORING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mrs G M Constable
J P Matthews





SECRETARY: L K Watkins





REGISTERED OFFICE: Unit 2, Deanland Business Park
Deanland Road
Golden Cross
Hailsham
East Sussex
BN27 3RP





REGISTERED NUMBER: 02735452 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Ltd
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

IMAGE CONTRACT FLOORING LTD (REGISTERED NUMBER: 02735452)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 113,489 151,719

CURRENT ASSETS
Stocks 103,565 94,893
Debtors 5 411,646 263,184
Cash at bank and in hand 562,430 450,546
1,077,641 808,623
CREDITORS
Amounts falling due within one year 6 (280,465 ) (202,205 )
NET CURRENT ASSETS 797,176 606,418
TOTAL ASSETS LESS CURRENT
LIABILITIES

910,665

758,137

CREDITORS
Amounts falling due after more than one
year

7

(8,429

)

(18,921

)

PROVISIONS FOR LIABILITIES (13,992 ) (22,040 )
NET ASSETS 888,244 717,176

CAPITAL AND RESERVES
Called up share capital 8 10,000 10,000
Retained earnings 878,244 707,176
SHAREHOLDERS' FUNDS 888,244 717,176

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

IMAGE CONTRACT FLOORING LTD (REGISTERED NUMBER: 02735452)

BALANCE SHEET - continued
30 SEPTEMBER 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2025 and were signed on its behalf by:





Mrs G M Constable - Director


IMAGE CONTRACT FLOORING LTD (REGISTERED NUMBER: 02735452)

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

1. STATUTORY INFORMATION

Image Contract Flooring 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


IMAGE CONTRACT FLOORING LTD (REGISTERED NUMBER: 02735452)

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

2. ACCOUNTING POLICIES - continued
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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 16 (2023 - 15 ) .

IMAGE CONTRACT FLOORING LTD (REGISTERED NUMBER: 02735452)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2023
and 30 September 2024 35,781 55,140 334,920 425,841
DEPRECIATION
At 1 October 2023 26,848 50,460 196,814 274,122
Charge for year 2,233 1,470 34,527 38,230
At 30 September 2024 29,081 51,930 231,341 312,352
NET BOOK VALUE
At 30 September 2024 6,700 3,210 103,579 113,489
At 30 September 2023 8,933 4,680 138,106 151,719

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2023
and 30 September 2024 72,588
DEPRECIATION
At 1 October 2023 11,930
Charge for year 15,165
At 30 September 2024 27,095
NET BOOK VALUE
At 30 September 2024 45,493
At 30 September 2023 60,658

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 335,718 239,893
Other debtors 75,928 23,291
411,646 263,184

IMAGE CONTRACT FLOORING LTD (REGISTERED NUMBER: 02735452)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 10,492 9,727
Trade creditors 117,593 99,488
Taxation and social security 129,961 76,068
Other creditors 22,419 16,922
280,465 202,205

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 8,429 18,921

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £1 10,000 10,000