REGISTERED NUMBER: 08305548 (England and Wales)

KIDDERMINSTER RUGS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

Mr. E. Gallagher

Mrs. B.A. Gallagher

REGISTERED OFFICE:

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

REGISTERED NUMBER:

08305548 (England and Wales)

ACCOUNTANTS:

Folkes Worton LLP

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kidderminster Rugs Ltd for the year ended 30 November 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Kidderminster Rugs Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kidderminster Rugs Ltd and state those matters that we have agreed to state to the Board of Directors of Kidderminster Rugs Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kidderminster Rugs Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Kidderminster Rugs Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kidderminster Rugs Ltd. You consider that Kidderminster Rugs Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Kidderminster Rugs Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Folkes Worton LLP

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

1 April 2025

FIXED ASSETS

Tangible assets

4

29,128

38,838

CURRENT ASSETS

Stocks

29,957

25,440

Debtors

5

55,941

54,131

Cash at bank and in hand

53,692

28,506

139,590

108,077

CREDITORS

Amounts falling due within one year

6

105,481

71,913

NET CURRENT ASSETS

34,109

36,164

TOTAL ASSETS LESS CURRENT LIABILITIES

63,237

75,002

CREDITORS

Amounts falling due after more than one year

7

(6,668

)

(16,667

)

PROVISIONS FOR LIABILITIES

(4,883

)

(6,686

)

NET ASSETS

51,686

51,649

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

51,684

51,647

SHAREHOLDERS' FUNDS

51,686

51,649

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 1 April 2025 and were signed on its behalf by:

Mrs. B.A. Gallagher - Director

1.	STATUTORY INFORMATION

Kidderminster Rugs 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 represents net sales of goods/services, excluding value added tax

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

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 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 3 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 December 2023

and 30 November 2024

24,000

3,500

52,458

3,277

83,235

DEPRECIATION

At 1 December 2023

6,000

3,150

32,450

2,797

44,397

Charge for year

4,500

88

5,002

120

9,710

At 30 November 2024

10,500

3,238

37,452

2,917

54,107

NET BOOK VALUE

At 30 November 2024

13,500

262

15,006

360

29,128

At 30 November 2023

18,000

350

20,008

480

38,838

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

5,941

4,057

Other debtors

50,000

50,074

55,941

54,131

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

73,122

51,528

Taxation and social security

19,163

7,460

Other creditors

3,196

2,925

105,481

71,913

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

6,668

16,667