Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr A James 04/02/2013 Mrs J James 10/12/2024 01/04/2022 19 March 2025 The principal activity of the Company during the financial year was that of the retail sale of carpets, rugs, wall and floor coverings. 08387251 2024-03-31 08387251 bus:Director1 2024-03-31 08387251 bus:Director2 2024-03-31 08387251 2023-03-31 08387251 core:CurrentFinancialInstruments 2024-03-31 08387251 core:CurrentFinancialInstruments 2023-03-31 08387251 core:ShareCapital 2024-03-31 08387251 core:ShareCapital 2023-03-31 08387251 core:RetainedEarningsAccumulatedLosses 2024-03-31 08387251 core:RetainedEarningsAccumulatedLosses 2023-03-31 08387251 core:Vehicles 2023-03-31 08387251 core:ComputerEquipment 2023-03-31 08387251 core:Vehicles 2024-03-31 08387251 core:ComputerEquipment 2024-03-31 08387251 core:CurrentFinancialInstruments 11 2024-03-31 08387251 core:CurrentFinancialInstruments 11 2023-03-31 08387251 2023-04-01 2024-03-31 08387251 bus:FilletedAccounts 2023-04-01 2024-03-31 08387251 bus:SmallEntities 2023-04-01 2024-03-31 08387251 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08387251 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08387251 bus:Director1 2023-04-01 2024-03-31 08387251 bus:Director2 2023-04-01 2024-03-31 08387251 core:Vehicles core:TopRangeValue 2023-04-01 2024-03-31 08387251 core:ComputerEquipment 2023-04-01 2024-03-31 08387251 2022-04-01 2023-03-31 08387251 core:Vehicles 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 08387251 (England and Wales)

MANOR PARK FLOORING LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

MANOR PARK FLOORING LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

MANOR PARK FLOORING LIMITED

BALANCE SHEET

As at 31 March 2024
MANOR PARK FLOORING LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,492 4,375
1,492 4,375
Current assets
Stocks 4 725 995
Debtors 5 18,253 14,784
Cash at bank and in hand 19,337 8,291
38,315 24,070
Creditors: amounts falling due within one year 6 ( 49,690) ( 29,717)
Net current liabilities (11,375) (5,647)
Total assets less current liabilities (9,883) (1,272)
Net liabilities ( 9,883) ( 1,272)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 9,983 ) ( 1,372 )
Total shareholders' deficit ( 9,883) ( 1,272)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Manor Park Flooring Limited (registered number: 08387251) were approved and authorised for issue by the Director on 19 March 2025. They were signed on its behalf by:

Mr A James
Director
MANOR PARK FLOORING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
MANOR PARK FLOORING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Manor Park Flooring Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 5 years straight line
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Tangible assets

Vehicles Computer equipment Total
£ £ £
Cost
At 01 April 2023 17,994 1,081 19,075
Additions 0 929 929
At 31 March 2024 17,994 2,010 20,004
Accumulated depreciation
At 01 April 2023 14,396 304 14,700
Charge for the financial year 3,598 214 3,812
At 31 March 2024 17,994 518 18,512
Net book value
At 31 March 2024 0 1,492 1,492
At 31 March 2023 3,598 777 4,375

4. Stocks

2024 2023
£ £
Stocks 725 995

5. Debtors

2024 2023
£ £
Trade debtors 17,467 5,010
CIS suffered 53 53
Other debtors 733 9,721
18,253 14,784

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 4,082 4,752
Taxation and social security 32,212 21,138
Obligations under finance leases and hire purchase contracts 0 3,228
Other creditors 13,396 599
49,690 29,717

7. Related party transactions

Transactions with the entity's director

The Directors loan accounts are repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 April 2023 the balance owed to the Company was £9,721. During the year, £35,727 was advanced and £49,043 was repaid. The balance due by the Company as at 31 March 2024 was £3,595.

At 1 April 2022 the balance owed by the Company was £131. During the year, £49,440 was advanced and £39,588 was repaid. The balance due to the Company as at 31 March 2023 was £9,721.