BrightAccountsProduction v1.0.0 v1.0.0 2023-07-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the company is the selling of flooring products. 25 February 2025 5 5 NI065361 2024-06-30 NI065361 2023-06-30 NI065361 2022-06-30 NI065361 2023-07-01 2024-06-30 NI065361 2022-07-01 2023-06-30 NI065361 uk-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI065361 uk-curr:PoundSterling 2023-07-01 2024-06-30 NI065361 uk-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 NI065361 uk-bus:FullAccounts 2023-07-01 2024-06-30 NI065361 uk-bus:Director1 2023-07-01 2024-06-30 NI065361 uk-bus:RegisteredOffice 2023-07-01 2024-06-30 NI065361 uk-bus:Agent1 2023-07-01 2024-06-30 NI065361 uk-bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 NI065361 uk-core:ShareCapital 2024-06-30 NI065361 uk-core:ShareCapital 2023-06-30 NI065361 uk-core:RetainedEarningsAccumulatedLosses 2024-06-30 NI065361 uk-core:RetainedEarningsAccumulatedLosses 2023-06-30 NI065361 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-06-30 NI065361 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-06-30 NI065361 uk-bus:FRS102 2023-07-01 2024-06-30 NI065361 uk-core:PlantMachinery 2023-07-01 2024-06-30 NI065361 uk-core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 NI065361 uk-core:MotorVehicles 2023-07-01 2024-06-30 NI065361 uk-core:CurrentFinancialInstruments 2024-06-30 NI065361 uk-core:CurrentFinancialInstruments 2023-06-30 NI065361 uk-core:WithinOneYear 2024-06-30 NI065361 uk-core:WithinOneYear 2023-06-30 NI065361 uk-core:WithinOneYear 2024-06-30 NI065361 uk-core:WithinOneYear 2023-06-30 NI065361 uk-core:AfterOneYear 2024-06-30 NI065361 uk-core:AfterOneYear 2023-06-30 NI065361 uk-core:BetweenOneTwoYears 2024-06-30 NI065361 uk-core:BetweenOneTwoYears 2023-06-30 NI065361 uk-core:BetweenTwoFiveYears 2024-06-30 NI065361 uk-core:BetweenTwoFiveYears 2023-06-30 NI065361 uk-core:OtherMiscellaneousReserve 2023-06-30 NI065361 uk-core:OtherMiscellaneousReserve 2023-07-01 2024-06-30 NI065361 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-06-30 NI065361 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-06-30 NI065361 uk-core:OtherDeferredTax 2024-06-30 NI065361 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-06-30 NI065361 uk-core:OtherMiscellaneousReserve 2024-06-30 NI065361 2023-07-01 2024-06-30 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI065361
 
 
Floors for Living (NI) Limited
 
Unaudited Financial Statements
 
for the financial year ended 30 June 2024



Floors for Living (NI) Limited
DIRECTOR AND OTHER INFORMATION

 
Director Bernard Hughes
 
 
Company Registration Number NI065361
 
 
Registered Office 62A Church Street
Magherafelt
Antrim
BT45 6AW
 
 
Business Address 62 Church Street
Magherafelt
BT45 6AW
 
 
Accountants Quarter
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
Belfast
Antrim
BT1 1PG
 
 
Bankers Ulsterbank
  20 Broad Street
  Magherafelt
  BT45 6EA



Floors for Living (NI) Limited

CHARTERED ACCOUNTANTS REPORT
to the Director on the Compilation of the unaudited financial statements of Floors for Living (NI) Limited
for the financial year ended 30 June 2024
 
In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 30 June 2024 as set out on pages  to 11 which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the director of Floors for Living (NI) Limited, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Director that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its director for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the Statement of Financial Position for the year ended 30 June 2024 your duty to ensure that Floors for Living (NI) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Floors for Living (NI) Limited. You consider that Floors for Living (NI) Limited is exempt from the statutory audit requirement for the financial year.
 
We have not been instructed to carry out an audit or a review of the financial statements of Floors for Living (NI) Limited. For this reason, we have not verified the adequacy, accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
 
 
 
__________________________________
QUARTER
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
Belfast
Antrim
BT1 1PG
 
25 February 2025



Floors for Living (NI) Limited
Company Registration Number: NI065361
STATEMENT OF FINANCIAL POSITION
as at 30 June 2024

2024 2023
Notes £ £
 
Non-Current Assets
Property, plant and equipment 4 51,767 31,129
───────── ─────────
 
Current Assets
Inventories 5 95,000 102,000
Receivables 6 122,036 129,140
Cash and cash equivalents 96,291 169,782
───────── ─────────
313,327 400,922
───────── ─────────
Payables: amounts falling due within one year 7 (113,076) (131,186)
───────── ─────────
Net Current Assets 200,251 269,736
───────── ─────────
Total Assets less Current Liabilities 252,018 300,865
 
Payables:
amounts falling due after more than one year 8 (39,828) (91,499)
 
Provisions for liabilities 10 (7,439) (1,272)
───────── ─────────
Net Assets 204,751 208,094
═════════ ═════════
 
Equity
Called up share capital 2 2
Retained earnings 204,749 208,092
───────── ─────────
Equity attributable to owners of the company 204,751 208,094
═════════ ═════════
 
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 Income Statement and Director's Report.
           
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms 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 director acknowledges 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 Director and authorised for issue on 25 February 2025
           
           
________________________________          
Bernard Hughes          
Director          
           



Floors for Living (NI) Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 June 2024

   
1. General Information
 
Floors for Living (NI) Limited is a company limited by shares incorporated in the Northern Ireland. 62 Church Street, Magherafelt, BT45 6AW, United Kingdom is the registered office, which is also the principal place of business of the company. 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 Sterling (£) 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 June 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.
 
Revenue
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.
 
Property, plant and equipment and depreciation
Property, plant and equipment 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 property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 20% Straight line
  Fixtures, fittings and equipment - 20% straight line
  Motor vehicles - 25% straight line
 
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.
 
Inventories
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other receivables
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.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other payables
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 Statement of Financial Position date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 5, (2023 - 5).
 
  2024 2023
  Number Number
 
Employees 5 5
  ═════════ ═════════
           
4. Property, plant and equipment
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost or Valuation
At 1 July 2023 19,100 40,159 64,725 123,984
Additions - 18,523 19,500 38,023
  ───────── ───────── ───────── ─────────
At 30 June 2024 19,100 58,682 84,225 162,007
  ───────── ───────── ───────── ─────────
Depreciation
At 1 July 2023 10,100 25,623 57,132 92,855
Charge for the financial year 3,120 8,692 5,573 17,385
  ───────── ───────── ───────── ─────────
At 30 June 2024 13,220 34,315 62,705 110,240
  ───────── ───────── ───────── ─────────
Carrying amount
At 30 June 2024 5,880 24,367 21,520 51,767
  ═════════ ═════════ ═════════ ═════════
At 30 June 2023 9,000 14,536 7,593 31,129
  ═════════ ═════════ ═════════ ═════════
       
5. Inventories 2024 2023
  £ £
 
Finished goods and goods for resale 95,000 102,000
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
6. Receivables 2024 2023
  £ £
 
Trade receivables 34,616 41,720
Amounts owed by related parties 63,206 63,206
Other debtors 24,214 24,214
  ───────── ─────────
  122,036 129,140
  ═════════ ═════════
       
7. Payables 2024 2023
Amounts falling due within one year £ £
 
Bank loan 9,997 9,997
Bank Loan 28,199 8,333
Trade payables 36,575 44,419
Taxation  (Note 9) 14,193 60,542
Director's current account 665 6,095
Other creditors 21,647 -
Accruals 1,800 1,800
  ───────── ─────────
  113,076 131,186
  ═════════ ═════════
       
8. Payables 2024 2023
Amounts falling due after more than one year £ £
 
Loans 39,828 91,499
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 7) 38,196 18,330
Repayable between one and two years 39,828 18,333
Repayable between two and five years - 73,166
  ───────── ─────────
  78,024 109,829
  ═════════ ═════════
 
       
9. Taxation 2024 2023
  £ £
 
Payables:
VAT 4,629 20,088
Corporation tax 7,913 38,948
PAYE / NI 1,651 1,506
  ───────── ─────────
  14,193 60,542
  ═════════ ═════════
         
10. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start 1,272 1,272 4,308
Charged to profit and loss 6,167 6,167 (3,036)
  ───────── ───────── ─────────
At financial year end 7,439 7,439 1,272
  ═════════ ═════════ ═════════
           
11. Related party transactions
 
      2024 2023
      £ £
 
Finance amounts (due from) related parties     (63,206) (63,206)
      ═════════ ═════════
 
Bernard Hughes is a director in Floors for Living (NI) Limited and a Partner in Churchview service station.
As at 30 June 2023 Chuchview owed Floors for Living (NI) Limited £63,206.
There has been no movement during the finanical year.
As at 30 June 2024 Chuchview owed Floors for Living (NI) Limited £63,206.