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Steve Faulkner Carpets Limited
Registered Number:04900959
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2024
Steve Faulkner Carpets Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
04900959
As at 31 March 2024
Steve Faulkner Carpets Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
8,741
10,791
2
8,741
10,791
Current assets
Inventories
131,067
154,717
3
Trade and other receivables
26,537
27,780
4
20,319
Cash and cash equivalents
45,304
227,801
177,923
Trade and other payables: amounts falling due within one year
(209,223)
(262,346)
5
(31,300)
(34,545)
Net current liabilities
Total assets less current liabilities
(25,804)
(20,509)
Trade and other payables: amounts falling due after more than one year
(21,667)
(11,667)
6
(37,471)
Net liabilities
(42,176)
Capital and reserves
Called up share capital
2
2
Retained earnings
(37,473)
(42,178)
(37,471)
(42,176)
Shareholders' funds
For the year ended 31 March 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Steven Faulkner Director
These financial statements were approved and authorised for issue by the Board on 06 March 2025 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 March 2024
Steve Faulkner Carpets Limited
Notes to the Financial Statements
Statutory Information
Steve Faulkner Carpets Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number
04900959.
Principal place of business:
T/A United Carpets & Beds
44 Ings Rd
Wakefield
WF1 1DZ
Registered address:
Horizon House
2 Whiting Street
Sheffield
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have
been prepared under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 10 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
10% Straight line
25% Straight line
Computer equipment
10% Straight line
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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5
For the year ended 31 March 2024
Steve Faulkner Carpets Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and fittings
Plant and
machinery
£
£
£
£
Cost or valuation
At 01 April 2023
45,342
534
42,888
1,920
At 31 March 2024
1,920
42,888
534
45,342
Provision for depreciation and impairment
At 01 April 2023
34,551
447
33,720
384
Charge for year
2,050
87
1,771
192
At 31 March 2024
36,601
534
35,491
576
At 31 March 2024
Net book value
1,344
7,397
-
8,741
At 31 March 2023
1,536
9,168
87
10,791
3. Inventories
2023
2024
£
£
Stocks
154,717
131,067
4. Trade and other receivables
2023
2024
£
£
Trade debtors
4,646
4,646
Other debtors
23,134
21,891
26,537
27,780
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft
10,000
10,000
Trade creditors
117,333
119,592
Taxation and social security
33,654
23,946
Other creditors
101,359
55,685
262,346
209,223
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6
For the year ended 31 March 2024
Steve Faulkner Carpets Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
11,667
21,667
7. Average number of persons employed
During the year the average number of employees was 5 (2023 : 6)
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