TRI-FLOORING LTD
Registered number: 10165944
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 39,294 34,382
Current assets
Stocks 9,650 10,880
Debtors 4 - 6,696
Cash at bank and in hand 10,686 15,401
20,336 32,977
Creditors: amounts falling due within one year 5 (18,382) (39,826)
Net current assets/(liabilities) 1,954 (6,849)
Total assets less current liabilities 41,248 27,533
Creditors: amounts falling due after more than one year 6 (33,606) (19,167)
Provisions for liabilities (7,466) (6,533)
Net assets 176 1,833
Capital and reserves
Called up share capital 3 3
Profit and loss account 173 1,830
Shareholders' funds 176 1,833
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Peter Joseph Farrell
Director
Approved by the board on 20 March 2025
TRI-FLOORING LTD
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Computer equipment 25% straight line
Fixtures and fittings 10% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Computer equipment Fixtures and fittings Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 1,833 50,000 18,542 70,375
Additions - - 19,255 19,255
Disposals - - (18,542) (18,542)
At 30 June 2024 1,833 50,000 19,255 71,088
Depreciation
At 1 July 2023 1,052 26,085 8,856 35,993
Charge for the year 260 2,392 4,242 6,894
On disposals - - (11,093) (11,093)
At 30 June 2024 1,312 28,477 2,005 31,794
Net book value
At 30 June 2024 521 21,523 17,250 39,294
At 30 June 2023 781 23,915 9,686 34,382
4 Debtors 2024 2023
£ £
Trade debtors - 2,000
Other debtors - 4,696
- 6,696
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,684 10,000
Obligations under finance lease and hire purchase contracts 3,851 5,937
Corporation tax - 1,850
Other taxes and social security costs 6,355 3,535
Other creditors 4,492 18,504
18,382 39,826
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 19,650 19,167
Obligations under finance lease and hire purchase contracts 13,956 -
33,606 19,167
7 Other information
TRI-FLOORING LTD is a private company limited by shares and incorporated in England. Its registered office is:
105 Redbrook Road
Barnsley
South Yorkshire
S75 2RG
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