10 10 Contract Floors (Sheffield) Limited 02846678 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is flooring Digita Accounts Production Advanced 6.30.9574.0 true 02846678 2024-01-01 2024-12-31 02846678 2024-12-31 02846678 bus:Director1 1 2024-12-31 02846678 core:CurrentFinancialInstruments 2024-12-31 02846678 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 02846678 core:Non-currentFinancialInstruments 2024-12-31 02846678 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 02846678 core:FurnitureFittings 2024-12-31 02846678 core:LandBuildings core:OwnedOrFreeholdAssets 2024-12-31 02846678 core:MotorVehicles 2024-12-31 02846678 core:OfficeEquipment 2024-12-31 02846678 core:PlantMachinery 2024-12-31 02846678 bus:SmallEntities 2024-01-01 2024-12-31 02846678 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 02846678 bus:FilletedAccounts 2024-01-01 2024-12-31 02846678 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02846678 bus:RegisteredOffice 2024-01-01 2024-12-31 02846678 bus:Director1 2024-01-01 2024-12-31 02846678 bus:Director1 1 2024-01-01 2024-12-31 02846678 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02846678 core:FurnitureFittings 2024-01-01 2024-12-31 02846678 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02846678 core:MotorVehicles 2024-01-01 2024-12-31 02846678 core:OfficeEquipment 2024-01-01 2024-12-31 02846678 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 02846678 core:PlantMachinery 2024-01-01 2024-12-31 02846678 countries:EnglandWales 2024-01-01 2024-12-31 02846678 2023-12-31 02846678 bus:Director1 1 2023-12-31 02846678 core:FurnitureFittings 2023-12-31 02846678 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 02846678 core:MotorVehicles 2023-12-31 02846678 core:OfficeEquipment 2023-12-31 02846678 core:PlantMachinery 2023-12-31 02846678 2023-01-01 2023-12-31 02846678 2023-12-31 02846678 bus:Director1 1 2023-12-31 02846678 core:CurrentFinancialInstruments 2023-12-31 02846678 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02846678 core:Non-currentFinancialInstruments 2023-12-31 02846678 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 02846678 core:FurnitureFittings 2023-12-31 02846678 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 02846678 core:MotorVehicles 2023-12-31 02846678 core:OfficeEquipment 2023-12-31 02846678 core:PlantMachinery 2023-12-31 02846678 bus:Director1 1 2023-01-01 2023-12-31 02846678 bus:Director1 1 2022-12-31 xbrli:pure iso4217:GBP

Registration number: 02846678

Contract Floors (Sheffield) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Contract Floors (Sheffield) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Contract Floors (Sheffield) Limited

Company Information

Director

SC Povey

Registered office

Unit 12 Excelsior Works
Station Road Ecclesfield
Sheffield
South Yorkshire
S35 9YR

 

Contract Floors (Sheffield) Limited

(Registration number: 02846678)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

26,446

18,006

Current assets

 

Stocks

5

6,000

6,000

Debtors

6

237,596

229,601

Cash at bank and in hand

 

-

1,314

 

243,596

236,915

Creditors: Amounts falling due within one year

7

(157,044)

(87,810)

Net current assets

 

86,552

149,105

Total assets less current liabilities

 

112,998

167,111

Creditors: Amounts falling due after more than one year

7

(4,167)

(14,167)

Provisions for liabilities

(6,612)

(3,422)

Net assets

 

102,219

149,522

Capital and reserves

 

Called up share capital

2

2

Retained earnings

102,217

149,520

Shareholders' funds

 

102,219

149,522

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Contract Floors (Sheffield) Limited

(Registration number: 02846678)
Balance Sheet as at 31 December 2024

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 April 2025
 

.........................................
SC Povey
Director

 

Contract Floors (Sheffield) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

These financial statements were authorised for issue by the director on 8 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Contract Floors (Sheffield) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Reducing Balance

Fixtures & Fittings

15% Reducing Balance

Motor Vehicles

25% Reducing Balance

Plant & Machinery

15% Reducing Balance

Land & Buildings

10% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Contract Floors (Sheffield) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Contract Floors (Sheffield) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 10 (2023 - 10).

4

Tangible assets

Property Improvements
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 January 2024

9,270

28,819

25,095

47,498

Additions

-

-

1,798

-

Disposals

-

-

-

-

At 31 December 2024

9,270

28,819

26,893

47,498

Depreciation

At 1 January 2024

9,270

27,504

20,190

39,878

Charge for the year

-

197

1,005

1,905

Eliminated on disposal

-

-

-

-

At 31 December 2024

9,270

27,701

21,195

41,783

Carrying amount

At 31 December 2024

-

1,118

5,698

5,715

At 31 December 2023

-

1,315

4,905

7,620

 

Contract Floors (Sheffield) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

28,200

138,882

Additions

15,308

17,106

Disposals

(9,200)

(9,200)

At 31 December 2024

34,308

146,788

Depreciation

At 1 January 2024

24,034

120,876

Charge for the year

4,638

7,745

Eliminated on disposal

(8,279)

(8,279)

At 31 December 2024

20,393

120,342

Carrying amount

At 31 December 2024

13,915

26,446

At 31 December 2023

4,166

18,006

5

Stocks

2024
£

2023
£

Other inventories

6,000

6,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

117,130

136,088

Prepayments

14,442

13,910

Other debtors

106,024

79,603

 

237,596

229,601

 

Contract Floors (Sheffield) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

38,515

10,655

Trade creditors

 

100,006

61,450

Taxation and social security

 

14,036

11,231

Accruals and deferred income

 

3,550

3,438

Other creditors

 

937

1,036

 

157,044

87,810

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £38,515 (2023 - £10,655).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

4,167

14,167

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £4,167 (2023 - £14,167).

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

4,167

14,167

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,655

Bank overdrafts

28,515

-

38,515

10,655

 

Contract Floors (Sheffield) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Related party transactions

Transactions with the director

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

SC Povey

Interest is charged at 2.5%. There are no conditions attached to this loan.

31,172

31,204

(32,000)

30,376

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

SC Povey

Interest is charged at 2.5%. There are no conditions attached to this loan.

29,950

31,222

(30,000)

31,172