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REGISTERED NUMBER: 04801939 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Carpet Underlays & Accessories Ltd

Carpet Underlays & Accessories Ltd (Registered number: 04801939)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Carpet Underlays & Accessories Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: P F R Weekes
B M Weekes





SECRETARY: B M Weekes





REGISTERED OFFICE: Unit B Rubery House
The Avenue
Rubery
Birmingham
B45 9AL





REGISTERED NUMBER: 04801939 (England and Wales)





ACCOUNTANTS: Attwoods
Chartered Certified Accountants
182 Worcester Road
Bromsgrove
Worcestershire
B61 7AZ

Carpet Underlays & Accessories Ltd (Registered number: 04801939)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 750
Tangible assets 5 133,872 137,340
133,872 138,090

CURRENT ASSETS
Stocks 225,348 225,715
Debtors 6 275,864 338,900
Cash at bank 12,402 14,807
513,614 579,422
CREDITORS
Amounts falling due within one year 7 388,655 436,457
NET CURRENT ASSETS 124,959 142,965
TOTAL ASSETS LESS CURRENT
LIABILITIES

258,831

281,055

CREDITORS
Amounts falling due after more than one year 8 (38,565 ) (48,497 )

PROVISIONS FOR LIABILITIES (13,759 ) -
NET ASSETS 206,507 232,558

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 206,407 232,458
SHAREHOLDERS' FUNDS 206,507 232,558

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.

Carpet Underlays & Accessories Ltd (Registered number: 04801939)

Balance Sheet - continued
30 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 Income Statement has not been delivered.

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




B M Weekes - Director



P F R Weekes - Director


Carpet Underlays & Accessories Ltd (Registered number: 04801939)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Carpet Underlays & Accessories 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 2015, is being amortised evenly over its estimated useful life of ten 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.
Improvements to property - 5% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 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.


Carpet Underlays & Accessories Ltd (Registered number: 04801939)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 7,500
AMORTISATION
At 1 July 2023 6,750
Charge for year 750
At 30 June 2024 7,500
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 750

Carpet Underlays & Accessories Ltd (Registered number: 04801939)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2023 7,500 11,548 4,075
Additions - - -
Disposals - - -
At 30 June 2024 7,500 11,548 4,075
DEPRECIATION
At 1 July 2023 375 4,601 3,759
Charge for year 375 2,249 88
Eliminated on disposal - - -
At 30 June 2024 750 6,850 3,847
NET BOOK VALUE
At 30 June 2024 6,750 4,698 228
At 30 June 2023 7,125 6,947 316

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 179,725 6,998 209,846
Additions 39,850 - 39,850
Disposals (8,900 ) - (8,900 )
At 30 June 2024 210,675 6,998 240,796
DEPRECIATION
At 1 July 2023 58,113 5,658 72,506
Charge for year 38,331 887 41,930
Eliminated on disposal (7,512 ) - (7,512 )
At 30 June 2024 88,932 6,545 106,924
NET BOOK VALUE
At 30 June 2024 121,743 453 133,872
At 30 June 2023 121,612 1,340 137,340

Carpet Underlays & Accessories Ltd (Registered number: 04801939)

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 114,341
Additions 39,850
Transfer to ownership (9,206 )
At 30 June 2024 144,985
DEPRECIATION
At 1 July 2023 29,888
Charge for year 27,087
At 30 June 2024 56,975
NET BOOK VALUE
At 30 June 2024 88,010
At 30 June 2023 84,453

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 253,650 265,938
Transax account 1,882 3,681
Other debtors 2,163 48,213
Prepayments and accrued income 18,169 21,068
275,864 338,900

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 26,831 20,985
Trade creditors 134,404 154,531
Taxation 4,575 5,348
Social security and other taxes 3,467 2,390
VAT 24,629 29,808
Pension fund - 568
Directors' current accounts 179,810 208,020
Accrued expenses 4,939 4,807
388,655 436,457

Carpet Underlays & Accessories Ltd (Registered number: 04801939)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans over one year 9,167 19,167
Hire purchase contracts (see note 9) 29,398 29,330
38,565 48,497

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.6.24 30.6.23
£    £   
Net obligations repayable:
Within one year 26,831 20,985
Between one and five years 29,398 29,330
56,229 50,315

Non-cancellable operating leases
30.6.24 30.6.23
£    £   
Within one year 25,208 27,500
Between one and five years - 25,208
25,208 52,708