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REGISTERED NUMBER: 08010726 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 March 2024

for

Paul Simpole Flooring Ltd

Paul Simpole Flooring Ltd (Registered number: 08010726)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Paul Simpole Flooring Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Barry Smithson
John Dixey
Daniel Scott





REGISTERED OFFICE: 4 Capricorn Centre
Cranes Farm Road
Basildon
Essex
SS14 3JJ





REGISTERED NUMBER: 08010726 (England and Wales)





ACCOUNTANTS: Vellender Lewis Accountants Limited
4 Capricorn Centre
Cranes Farm Road
Basildon
Essex
SS14 3JJ

Paul Simpole Flooring Ltd (Registered number: 08010726)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 125,000 150,000
Tangible assets 5 44,900 31,081
169,900 181,081

CURRENT ASSETS
Stocks 440,433 385,386
Debtors 6 176,820 186,022
Cash at bank 3,188 -
620,441 571,408
CREDITORS
Amounts falling due within one year 7 625,708 614,695
NET CURRENT LIABILITIES (5,267 ) (43,287 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

164,633

137,794

CREDITORS
Amounts falling due after more than one
year

8

(94,807

)

(102,351

)

PROVISIONS FOR LIABILITIES (10,017 ) (5,905 )
NET ASSETS 59,809 29,538

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 59,709 29,438
59,809 29,538

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

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 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.

Paul Simpole Flooring Ltd (Registered number: 08010726)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 February 2025 and were signed on its behalf by:





Daniel Scott - Director


Paul Simpole Flooring Ltd (Registered number: 08010726)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Paul Simpole 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.

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 nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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.

Paul Simpole Flooring Ltd (Registered number: 08010726)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 250,000
AMORTISATION
At 1 April 2023 100,000
Charge for year 25,000
At 31 March 2024 125,000
NET BOOK VALUE
At 31 March 2024 125,000
At 31 March 2023 150,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 74,439
Additions 38,849
Disposals (31,803 )
At 31 March 2024 81,485
DEPRECIATION
At 1 April 2023 43,358
Charge for year 14,967
Eliminated on disposal (21,740 )
At 31 March 2024 36,585
NET BOOK VALUE
At 31 March 2024 44,900
At 31 March 2023 31,081

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 100,003 106,079
Other debtors 76,817 79,943
176,820 186,022

Paul Simpole Flooring Ltd (Registered number: 08010726)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 30,000 31,660
Hire purchase contracts 10,878 15,181
Trade creditors 68,558 47,433
Taxation and social security 104,797 61,486
Other creditors 411,475 458,935
625,708 614,695

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 60,000 90,000
Hire purchase contracts 34,807 12,351
94,807 102,351