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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024

FOR

WEKNOWFLOORING.CO.UK LTD

WEKNOWFLOORING.CO.UK LTD (REGISTERED NUMBER: 12691944)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WEKNOWFLOORING.CO.UK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTORS: Mrs R Driscoll-Bennett
N Driscoll-Bennett





REGISTERED OFFICE: 7 Bell Yard
London
WC2A 2JR





REGISTERED NUMBER: 12691944 (England and Wales)





ACCOUNTANTS: Evans Weir
The Victoria
25 St Pancras
Chichester
West Sussex
PO19 7LT

WEKNOWFLOORING.CO.UK LTD (REGISTERED NUMBER: 12691944)

BALANCE SHEET
30TH JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,000 4,000
Tangible assets 5 37,929 1,297
39,929 5,297

CURRENT ASSETS
Stocks 1,503 2,023
Debtors 6 41,464 10,003
Cash at bank 46,208 35,291
89,175 47,317
CREDITORS
Amounts falling due within one year 7 39,806 28,422
NET CURRENT ASSETS 49,369 18,895
TOTAL ASSETS LESS CURRENT
LIABILITIES

89,298

24,192

CREDITORS
Amounts falling due after more than one
year

8

28,002

-
NET ASSETS 61,296 24,192

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 61,294 24,190
SHAREHOLDERS' FUNDS 61,296 24,192

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

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

WEKNOWFLOORING.CO.UK LTD (REGISTERED NUMBER: 12691944)

BALANCE SHEET - continued
30TH JUNE 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26th March 2025 and were signed on its behalf by:




N Driscoll-Bennett - Director



Mrs R Driscoll-Bennett - Director


WEKNOWFLOORING.CO.UK LTD (REGISTERED NUMBER: 12691944)

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

1. STATUTORY INFORMATION

Weknowflooring.co.uk 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 2020, is being amortised evenly over its estimated useful life of five 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

WEKNOWFLOORING.CO.UK LTD (REGISTERED NUMBER: 12691944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st July 2023
and 30th June 2024 10,000
AMORTISATION
At 1st July 2023 6,000
Charge for year 2,000
At 30th June 2024 8,000
NET BOOK VALUE
At 30th June 2024 2,000
At 30th June 2023 4,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st July 2023 2,243
Additions 40,264
At 30th June 2024 42,507
DEPRECIATION
At 1st July 2023 946
Charge for year 3,632
At 30th June 2024 4,578
NET BOOK VALUE
At 30th June 2024 37,929
At 30th June 2023 1,297

WEKNOWFLOORING.CO.UK LTD (REGISTERED NUMBER: 12691944)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 40,000
At 30th June 2024 40,000
DEPRECIATION
Charge for year 3,333
At 30th June 2024 3,333
NET BOOK VALUE
At 30th June 2024 36,667

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 41,448 10,003
Other debtors 16 -
41,464 10,003

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 5,569 -
Trade creditors - 9,977
Taxation and social security 27,406 12,220
Other creditors 6,831 6,225
39,806 28,422

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 28,002 -