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REGISTERED NUMBER: 04915219 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

J G FLOORING SPECIALISTS LIMITED

J G FLOORING SPECIALISTS LIMITED (REGISTERED NUMBER: 04915219)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


J G FLOORING SPECIALISTS LIMITED (REGISTERED NUMBER: 04915219)

BALANCE SHEET
30 JUNE 2024

30/6/24 30/6/23
Notes £ £
FIXED ASSETS
Intangible assets 4 78 100
Tangible assets 5 22,794 19,469
22,872 19,569

CURRENT ASSETS
Debtors: amounts falling due within one year 6 5,500 10,049
Prepayments and accrued income 1,597 1,836
Cash at bank 168,447 128,440
175,544 140,325
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

(63,355

)

(48,359

)
NET CURRENT ASSETS 112,189 91,966
TOTAL ASSETS LESS CURRENT
LIABILITIES

135,061

111,535

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

8

(19,819

)

(23,274

)

PROVISIONS FOR LIABILITIES 9 (5,698 ) (3,699 )
NET ASSETS 109,544 84,562

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 109,542 84,560
109,544 84,562

J G FLOORING SPECIALISTS LIMITED (REGISTERED NUMBER: 04915219)

BALANCE SHEET - continued
30 JUNE 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 25 March 2025 and were signed on its behalf by:





S Glenie - Director


J G FLOORING SPECIALISTS LIMITED (REGISTERED NUMBER: 04915219)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

J G Flooring Specialists Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04915219

Registered office: Unit 9, The Stables
Goblands Farm Business Centre
Cemetery Lane
Hadlow
Kent
TN11 0LT

The presentation currency of the financial statements is the Pound Sterling (£).


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, net of any 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 has transferred to the buyer.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. Turnover is only recognised tot he extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Intangible assets
Other intangible assets are amortised to profit and loss account over the estimated economic life of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

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.

J G FLOORING SPECIALISTS LIMITED (REGISTERED NUMBER: 04915219)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
At 1 July 2023
and 30 June 2024 222
AMORTISATION
At 1 July 2023 122
Charge for year 22
At 30 June 2024 144
NET BOOK VALUE
At 30 June 2024 78
At 30 June 2023 100

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
COST
At 1 July 2023 14,562 52,503 9,056 76,121
Additions - 43,230 - 43,230
Disposals - (37,513 ) - (37,513 )
At 30 June 2024 14,562 58,220 9,056 81,838
DEPRECIATION
At 1 July 2023 14,562 35,310 6,780 56,652
Charge for year - 10,807 1,097 11,904
Eliminated on disposal - (9,512 ) - (9,512 )
At 30 June 2024 14,562 36,605 7,877 59,044
NET BOOK VALUE
At 30 June 2024 - 21,615 1,179 22,794
At 30 June 2023 - 17,193 2,276 19,469

J G FLOORING SPECIALISTS LIMITED (REGISTERED NUMBER: 04915219)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST
At 1 July 2023 52,503
Additions 43,230
Disposals (37,513 )
At 30 June 2024 58,220
DEPRECIATION
At 1 July 2023 35,310
Charge for year 10,807
Eliminated on disposal (9,512 )
At 30 June 2024 36,605
NET BOOK VALUE
At 30 June 2024 21,615
At 30 June 2023 17,193

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£ £
Trade debtors 5,500 10,049

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£ £
Bank loans and overdrafts 10,218 9,932
Hire purchase contracts 4,529 4,420
Trade creditors 6,803 10,367
Taxation and social security 35,873 17,520
Other creditors 5,932 6,120
63,355 48,359

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30/6/24 30/6/23
£ £
Bank loans 13,057 23,274
Hire purchase contracts 6,762 -
19,819 23,274

9. PROVISIONS FOR LIABILITIES
30/6/24 30/6/23
£ £
Deferred tax
Accelerated capital allowances 5,698 3,699

Deferred tax
£
Balance at 1 July 2023 3,699
Charge to Income Statement during year 1,999
Balance at 30 June 2024 5,698