Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30186582023-10-01false70falsefalse71false 05055861 2023-10-01 2024-09-30 05055861 2022-10-01 2023-09-30 05055861 2024-09-30 05055861 2023-09-30 05055861 2022-10-01 05055861 1 2023-10-01 2024-09-30 05055861 1 2022-10-01 2023-09-30 05055861 d:CompanySecretary1 2023-10-01 2024-09-30 05055861 d:Director1 2023-10-01 2024-09-30 05055861 d:Director2 2023-10-01 2024-09-30 05055861 d:Director3 2023-10-01 2024-09-30 05055861 d:Director3 2024-09-30 05055861 d:Director4 2023-10-01 2024-09-30 05055861 d:Director5 2023-10-01 2024-09-30 05055861 d:Director6 2023-10-01 2024-09-30 05055861 d:RegisteredOffice 2023-10-01 2024-09-30 05055861 e:Buildings e:ShortLeaseholdAssets 2023-10-01 2024-09-30 05055861 e:Buildings e:ShortLeaseholdAssets 2024-09-30 05055861 e:Buildings e:ShortLeaseholdAssets 2023-09-30 05055861 e:PlantMachinery 2023-10-01 2024-09-30 05055861 e:PlantMachinery 2024-09-30 05055861 e:PlantMachinery 2023-09-30 05055861 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 05055861 e:PlantMachinery e:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 05055861 e:FurnitureFittings 2023-10-01 2024-09-30 05055861 e:FurnitureFittings 2024-09-30 05055861 e:FurnitureFittings 2023-09-30 05055861 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 05055861 e:FurnitureFittings e:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 05055861 e:OfficeEquipment 2023-10-01 2024-09-30 05055861 e:OfficeEquipment 2024-09-30 05055861 e:OfficeEquipment 2023-09-30 05055861 e:OfficeEquipment e:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 05055861 e:OfficeEquipment e:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 05055861 e:ComputerEquipment 2023-10-01 2024-09-30 05055861 e:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 05055861 e:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 05055861 e:CurrentFinancialInstruments 2024-09-30 05055861 e:CurrentFinancialInstruments 2023-09-30 05055861 e:Non-currentFinancialInstruments 2024-09-30 05055861 e:Non-currentFinancialInstruments 2023-09-30 05055861 e:CurrentFinancialInstruments e:WithinOneYear 2024-09-30 05055861 e:CurrentFinancialInstruments e:WithinOneYear 2023-09-30 05055861 e:Non-currentFinancialInstruments e:AfterOneYear 2024-09-30 05055861 e:Non-currentFinancialInstruments e:AfterOneYear 2023-09-30 05055861 e:UKTax 2023-10-01 2024-09-30 05055861 e:UKTax 2022-10-01 2023-09-30 05055861 e:ShareCapital 2023-10-01 2024-09-30 05055861 e:ShareCapital 2024-09-30 05055861 e:ShareCapital 2022-10-01 2023-09-30 05055861 e:ShareCapital 2023-09-30 05055861 e:ShareCapital 2022-10-01 05055861 e:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 05055861 e:RetainedEarningsAccumulatedLosses 2024-09-30 05055861 e:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 05055861 e:RetainedEarningsAccumulatedLosses 2023-09-30 05055861 e:RetainedEarningsAccumulatedLosses 2022-10-01 05055861 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-09-30 05055861 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-09-30 05055861 e:FinancialAssetsAmortisedCost 2024-09-30 05055861 e:FinancialAssetsAmortisedCost 2023-09-30 05055861 e:FinancialLiabilitiesAmortisedCost 2024-09-30 05055861 e:FinancialLiabilitiesAmortisedCost 2023-09-30 05055861 e:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-10-01 2024-09-30 05055861 e:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-09-30 05055861 e:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-09-30 05055861 d:OrdinaryShareClass1 2023-10-01 2024-09-30 05055861 d:OrdinaryShareClass1 2024-09-30 05055861 d:OrdinaryShareClass1 2023-09-30 05055861 d:FRS102 2023-10-01 2024-09-30 05055861 d:Audited 2023-10-01 2024-09-30 05055861 d:FullAccounts 2023-10-01 2024-09-30 05055861 d:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 05055861 e:ComputerSoftware 2024-09-30 05055861 e:ComputerSoftware 2023-09-30 05055861 e:WithinOneYear 2024-09-30 05055861 e:WithinOneYear 2023-09-30 05055861 e:BetweenOneFiveYears 2024-09-30 05055861 e:BetweenOneFiveYears 2023-09-30 05055861 e:HirePurchaseContracts e:WithinOneYear 2024-09-30 05055861 e:HirePurchaseContracts e:WithinOneYear 2023-09-30 05055861 e:HirePurchaseContracts e:BetweenOneFiveYears 2024-09-30 05055861 e:HirePurchaseContracts e:BetweenOneFiveYears 2023-09-30 05055861 e:AcceleratedTaxDepreciationDeferredTax 2024-09-30 05055861 e:AcceleratedTaxDepreciationDeferredTax 2023-09-30 05055861 e:OtherDeferredTax 2024-09-30 05055861 e:OtherDeferredTax 2023-09-30 05055861 2 2023-10-01 2024-09-30 05055861 7 2023-10-01 2024-09-30 05055861 e:PlantMachinery e:LeasedAssetsHeldAsLessee 2024-09-30 05055861 e:PlantMachinery e:LeasedAssetsHeldAsLessee 2023-09-30 05055861 e:LeasedAssetsHeldAsLessee 2024-09-30 05055861 e:LeasedAssetsHeldAsLessee 2023-09-30 05055861 e:ComputerSoftware e:OwnedIntangibleAssets 2023-10-01 2024-09-30 05055861 f:PoundSterling 2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05055861










BATHGATE FLOORING LIMITED










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
BATHGATE FLOORING LIMITED
 
 
COMPANY INFORMATION


Directors
A. J. Hubbard 
P. Freeman 
E. T. Smyth 
S. I. Bennett 
R. H. Walker 




Company secretary
S. I. Bennett



Registered number
05055861



Registered office
c/o Langtons Professional Services Limited
100 Old Hall Street

Liverpool

Merseyside

L3 9QJ




Trading Address
Unit 6G
Thorn Business Park

Hereford

HR2 6JT






Independent auditor
Langtons Professional Services Limited
Chartered Accountants & Statutory Auditor

11th Floor, The Plaza

100 Old Hall Street

Liverpool

L3 9QJ





 
BATHGATE FLOORING LIMITED
 

CONTENTS



Page
Strategic Report
 
 
1 - 2
Directors' Report
 
 
3 - 4
Independent Auditor's Report
 
 
5 - 8
Statement of Comprehensive Income
 
 
9
Statement of Financial Position
 
 
10 - 11
Statement of Changes in Equity
 
 
12
Notes to the Financial Statements
 
 
13 - 30


 
BATHGATE FLOORING LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Introduction
 
The directors present their strategic report for the year ended 30 September 2024.

Business review
 
The core business involves the manufacturing, installation, and supply of raised access flooring. We continue to invest in both our manufacturing capabilities and our people.
The year was very positive, with the business returning to profitability. We continue to manage market expectations for forward pricing, fluctuating requirements, and rising input costs.
We take the environmental impact seriously, working to reduce our carbon footprint in both operations and products.
To date, the 2024-25 trading year has exceeded its budgeted order intake, and opportunities remain strong. However, we are still experiencing ongoing delays in the construction industry, consistent with trends we've reported over the past two years.

Principal risks and uncertainties
 
Risk Management:
Given the size of the company the directors have delegated the responsibility of financial risk management to
the company’s finance department. The department has a policy and procedures manual that sets out
guidelines to manage, credit risk, price risk and currency risk.
Credit Risk:
The Company has implemented policies that require appropriate credit checks on potential customers before
sales are made. The amount of exposure to any individual counterparty is subject to a limit, which is reassessed
annually by the board. Wherever appropriate the company will undertake a policy of credit insurance. If credit
insurance is not available the senior management team will ensure that any risk is managed pro-actively to
minimise any exposure.
Price Risk:
The Company is exposed to a price risk as a result of its operations. Wherever possible the management look
to enter into longer terms pricing contracts to minimise its price exposure, to movement in prices of raw
materials, which can be significant within its industry.

Financial key performance indicators
 
The company’s financial key performance indicators are primarily focussed around its turnover, profitability, and net current assets.
Some of these are set out in the table below, and which demonstrate the stability of the business:
Year Ended:                                            30 September 2024 
30 September 2023
  
Turnover:                                                            £20.14m                   £19.84m
Return on Capital Employed                              7.2%                          (5.7)%
Gross Profit                                                        16.9%                       13.0%
Current Ratio (Current Assets: Current Liabilities) 1.92:1                        1.89:1
The key non-financial performance indicators relate to service delivery and reducing our carbon footprint.

Page 1

 
BATHGATE FLOORING LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024


This report was approved by the board on 16 April 2025 and signed on its behalf.







A. J. Hubbard
Director

Page 2

 
BATHGATE FLOORING LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their report and the financial statements for the year ended 30 September 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Principal activity

The company’s principal activities for the year continued to be the manufacturing, supply and installation of raised access flooring panels and accessories.

Results and dividends

The profit for the year, after taxation, amounted to £286,407 (2023 - loss £266,671).

The directors do not recommend the payment of a dividend.

Directors

The directors who served during the year were:

A. J. Hubbard 
P. Freeman 
K. D. Rye (resigned 31 December 2023)
E. T. Smyth 
S. I. Bennett 
R. H. Walker 

Page 3

 
BATHGATE FLOORING LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Future developments

The directors will focus on maintaining its excellent product quality and customer service as well as developing new and existing customer relationships and being able to react quickly to customer requirements.

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the year end.

Auditor

Under section 487(2) of the Companies Act 2006Langtons Professional Services Limited will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

This report was approved by the board on 16 April 2025 and signed on its behalf.
 







A. J. Hubbard
Director

Page 4

 
BATHGATE FLOORING LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BATHGATE FLOORING LIMITED
 

Opinion

We have audited the financial statements of Bathgate Flooring Limited (the 'Company') for the year ended 30 September 2024, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the Company's affairs as at 30 September 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 5

 
BATHGATE FLOORING LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BATHGATE FLOORING LIMITED (CONTINUED)


Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Page 6

 
BATHGATE FLOORING LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BATHGATE FLOORING LIMITED (CONTINUED)


Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The objectives of our audit, in respect to fraud, are:
• to identify and assess the risks of material misstatement of the financial statements due to fraud;
• to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses; and
• to respond appropriately to fraud or suspected fraud identified during the audit.
However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.
Our approach was as follows:
• We obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant are those that relate to the reporting framework (FRS 102 and the Companies Act 2006), the relevant tax compliance regulations in the UK and the EU General Data Protection Regulation (GDPR).
• We understood how the Company is complying with those frameworks by making enquiries of management. Through consideration of the results of our audit procedures we were able to either corroborate or provide contrary evidence which was then followed up.
• Based on our understanding we designed our audit procedures to identify non-compliance with laws and regulations. Our procedures involved:
enquiries of management; and
journal entry testing, with a focus on journals indicating large or unusual transactions based on our understanding of the business.
• We assessed the susceptibility of the Company’s financial statements to material misstatement, including how fraud might occur by meeting with management to understand where it considered there was susceptibility to fraud. We also considered performance targets and their propensity to influence efforts made by management to manage revenue and earnings. Where the risk was considered to be higher, including areas impacting key performance indicators or management remuneration, we performed audit procedures to address each identified fraud risk or other risk of material misstatement. These procedures included those on revenue recognition detailed above, the assessment of items identified by management as non-recurring and testing manual journals and were designed to provide reasonable assurance that the financial statements were free from material fraud or error.
 
Page 7

 
BATHGATE FLOORING LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BATHGATE FLOORING LIMITED (CONTINUED)



A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.






Simon Whalley (Senior Statutory Auditor)
  
for and on behalf of
Langtons Professional Services Limited
 
Chartered Accountants
Statutory Auditor
  
11th Floor, The Plaza
100 Old Hall Street
Liverpool
L3 9QJ

16 April 2025
Page 8

 
BATHGATE FLOORING LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024
2023
Note
£
£

  

Turnover
 4 
20,137,366
19,837,360

Cost of sales
  
(16,689,614)
(17,262,648)

Gross profit
  
3,447,752
2,574,712

Administrative expenses
  
(3,202,602)
(3,081,974)

Other operating income
 5 
144,015
175,990

Operating profit/(loss)
 6 
389,165
(331,272)

Interest receivable and similar income
 10 
-
1,417

Interest payable and similar expenses
 11 
(3,305)
(1,986)

Profit/(loss) before tax
  
385,860
(331,841)

Tax on profit/(loss)
 12 
(99,453)
65,170

Profit/(loss) for the financial year
  
286,407
(266,671)

There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 13 to 30 form part of these financial statements.

Page 9

 
BATHGATE FLOORING LIMITED
REGISTERED NUMBER: 05055861

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 13 
445
1,067

Tangible assets
 14 
711,449
715,830

  
711,894
716,897

Current assets
  

Stocks
 15 
2,189,051
2,643,697

Debtors: amounts falling due within one year
 16 
3,897,448
3,330,047

Cash at bank and in hand
 17 
2,604,452
2,183,309

  
8,690,951
8,157,053

Creditors: amounts falling due within one year
 18 
(4,517,858)
(4,291,266)

Net current assets
  
 
 
4,173,093
 
 
3,865,787

Total assets less current liabilities
  
4,884,987
4,582,684

Creditors: amounts falling due after more than one year
 19 
(16,877)
(16,088)

Provisions for liabilities
  

Deferred tax
 22 
(103,304)
(98,197)

Other provisions
 23 
(20,000)
(10,000)

  
 
 
(123,304)
 
 
(108,197)

Net assets
  
4,744,806
4,458,399

Page 10

 
BATHGATE FLOORING LIMITED
REGISTERED NUMBER: 05055861
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
 24 
1,000,000
1,000,000

Profit and loss account
 25 
3,744,806
3,458,399

  
4,744,806
4,458,399


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 April 2025.






A. J. Hubbard
Director

The notes on pages 13 to 30 form part of these financial statements.

Page 11

 
BATHGATE FLOORING LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 October 2022
1,000,000
3,725,070
4,725,070


Comprehensive income for the year

Loss for the year
-
(266,671)
(266,671)
Total comprehensive income for the year
-
(266,671)
(266,671)


At 1 October 2023
1,000,000
3,458,399
4,458,399


Comprehensive income for the year

Profit for the year
-
286,407
286,407
Total comprehensive income for the year
-
286,407
286,407


At 30 September 2024
1,000,000
3,744,806
4,744,806


The notes on pages 13 to 30 form part of these financial statements.

Page 12

 
BATHGATE FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

The entity is a private limited liability company, limited by shares registered in England and Wales within the United Kingdom. The registered office is c/o Langtons Professional Services Limited, The Plaza, 100 Old Hall Street, Liverpool, L3 9QJ and company number is 05055861. The principal place of business is Unit 6G, Thorn Business Park, Hereford, HR2 6JT.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The presentation currency of these financial statements is pound sterling; the financial statements
are rounded to the nearest pound.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has cash resources and the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. They continue to believe the going concern basis of accounting appropriate in preparing the annual financial statements.

Page 13

 
BATHGATE FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

Page 14

 
BATHGATE FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 15

 
BATHGATE FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
Over the life of the lease
Plant & machinery
-
10% straight line
Fixtures & fittings
-
20%-25% straight line
Office equipment
-
25% straight line
Computer equipment
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods do not include labour and attributable overheads, except for tray lids and bases.
At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.12

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 16

 
BATHGATE FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Statement of Financial Position date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Statement of Financial Position date.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 17

 
BATHGATE FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.17

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Page 18

 
BATHGATE FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.17
Financial instruments (continued)


Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The  directors  have  made  judgments  regarding  the carrying  value of debtors and the revenue taken for installation jobs in progress at the year end. Attention is drawn to note 2 above.


4.


Turnover

The whole of the turnover is attributable to the pricipal activity of the business.

In the opinion of the directors, disclosure of the turnover derived from different activities and different geographical locations would not be in the interest of the company. 


5.


Other operating income

2024
2023
£
£

Net rents receivable
144,015
175,990

144,015
175,990


Page 19

 
BATHGATE FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Operating profit/(loss)

The operating profit/(loss) is stated after charging:

2024
2023
£
£

Other operating lease rentals
352,611
306,312


7.


Auditor's remuneration

During the year, the Company obtained the following services from the Company's auditor:


2024
2023
£
£

Fees payable to the Company's auditor for the audit of the Company's financial statements
17,000
16,375


8.


Employees

Staff costs, including directors' remuneration, were as follows:


2024
2023
£
£

Wages and salaries
2,643,767
2,590,053

Social security costs
285,584
278,682

Cost of defined contribution scheme
181,636
120,630

3,110,987
2,989,365


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
3
4



Administration
5
5



Contracts
14
13



Production
39
41



Sales
9
8

70
71

Page 20

 
BATHGATE FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
388,617
426,887

Company contributions to defined contribution pension schemes
23,599
35,960

412,216
462,847


During the year retirement benefits were accruing to 4 directors (2023 - 4) in respect of defined contribution pension schemes.

The highest paid director received remuneration of £137,076 (2023 - £118,032).

The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £6,426 (2023 - £3,952).


10.


Interest receivable

2024
2023
£
£


Other interest receivable
-
1,417

-
1,417


11.


Interest payable and similar expenses

2024
2023
£
£


Finance leases and hire purchase contracts
3,305
1,986

3,305
1,986

Page 21

 
BATHGATE FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

12.


Taxation


2024
2023
£
£

Corporation tax


Adjustments in respect of previous periods
-
(37,853)


-
(37,853)


Group taxation relief
94,346
-


94,346
(37,853)


Total current tax
94,346
(37,853)

Deferred tax


Origination and reversal of timing differences
5,107
(27,317)

Total deferred tax
5,107
(27,317)


99,453
(65,170)
Page 22

 
BATHGATE FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
 
12.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 22%). The differences are explained below:

2024
2023
£
£


Profit/(loss) on ordinary activities before tax
385,860
(331,841)


Profit/(loss) on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 22%)
96,465
(73,005)

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
1,412
2,157

Fixed asset differences
1,576
2,981

Tax losses carried back
-
42,100

Adjustments to tax charge in respect of prior periods
-
(37,853)

Remeasurement of deferred tax for changes in tax rates
-
(1,550)

Total tax charge for the year
99,453
(65,170)


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 23

 
BATHGATE FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

13.


Intangible assets




Computer software

£



Cost


At 1 October 2023
188,411



At 30 September 2024

188,411



Amortisation


At 1 October 2023
187,343


Charge for the year on owned assets
623



At 30 September 2024

187,966



Net book value



At 30 September 2024
445



At 30 September 2023
1,067



Page 24

 
BATHGATE FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

14.


Tangible fixed assets





S/Term Leasehold Property
Plant & machinery
Fixtures & fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 October 2023
279,285
2,133,004
4,443
29,861
2,446,593


Additions
21,832
174,672
-
-
196,504



At 30 September 2024

301,117
2,307,676
4,443
29,861
2,643,097



Depreciation


At 1 October 2023
240,490
1,455,970
4,443
29,861
1,730,764


Charge for the year on owned assets
18,658
151,165
-
-
169,823


Charge for the year on financed assets
-
31,061
-
-
31,061



At 30 September 2024

259,148
1,638,196
4,443
29,861
1,931,648



Net book value



At 30 September 2024
41,969
669,480
-
-
711,449



At 30 September 2023
38,796
677,034
-
-
715,830

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
56,814
35,000

56,814
35,000

Page 25

 
BATHGATE FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

15.


Stocks

2024
2023
£
£

Raw materials and consumables
857,886
947,596

Work in progress (goods to be sold)
60,933
93,239

Finished goods and goods for resale
1,270,232
1,602,862

2,189,051
2,643,697



16.


Debtors

2024
2023
£
£


Trade debtors
3,336,193
2,758,737

Other debtors
208,065
154,672

Prepayments and accrued income
353,190
416,638

3,897,448
3,330,047



17.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,604,452
2,183,309

2,604,452
2,183,309


Page 26

 
BATHGATE FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

18.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
3,119,576
3,095,787

Amounts owed to group undertakings
485,824
373,582

Other taxation and social security
115,854
115,345

Obligations under finance lease and hire purchase contracts
19,053
30,062

Other creditors
20,192
17,030

Accruals and deferred income
757,359
659,460

4,517,858
4,291,266


Bank overdrafts are secured by way of a fixed and floating charge over all the assets of the company.
Obligations under finance lease and hire purchase contracts are secured on the assets concerned.


19.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
16,877
16,088

16,877
16,088


Obligations under finance lease and hire purchase contracts are secured on the assets concerned.


20.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
18,623
29,974

Between 1-5 years
18,259
17,079

36,882
47,053

Page 27

 
BATHGATE FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

21.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
2,604,452
2,183,309

Financial assets that are debt instruments measured at amortised cost
3,336,193
2,758,737

5,940,645
4,942,046


Financial liabilities


Financial liabilities measured at amortised cost
(4,381,659)
(4,144,715)


Financial assets measured at fair value through profit or loss comprise cash in hand and at bank.


Financial assets measured at amortised cost comprise trade and other debtors (except statutory repayments from HMRC).


Financial liabilities measured at amortised cost comprise trade and other creditors, accruals, loans and overdrafts and amounts owed to group companies.

Page 28

 
BATHGATE FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

22.


Deferred taxation




2024


£






At beginning of year
(98,197)


Charged to profit or loss
(5,107)



At end of year
(103,304)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(113,028)
(104,669)

Short term timing differences
9,724
6,472

(103,304)
(98,197)


23.


Provisions




Dilapidation provision

£





At 1 October 2023
10,000


Charged to profit or loss
10,000



At 30 September 2024
20,000


24.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000,000 (2023 - 1,000,000) Ordinary shares of £1.00 each
1,000,000
1,000,000


Page 29

 
BATHGATE FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

25.


Reserves

Profit & loss account

The profit and loss account represents total accumulated profits and losses to date less any dividends declared and paid.


26.


Contingent liabilities

Guarantees totalling £81,044 (2023 - £81,044) have been given to main contractors which will only crystalise should the company be unable to complete the works required.


27.


Pension commitments

The  company  pays into personal pension plans.  The  assets  in  the  plans  are  held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the plans. Contributions totalling £18,897 (2023 - £15,886) were payable to the fund at the reporting date and are included in creditors.


28.


Commitments under operating leases

At 30 September 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
329,664
288,196

Later than 1 year and not later than 5 years
670,717
342,566

1,000,381
630,762


29.


Related party transactions

The company has taken advantage of the exemption under paragraph 33.1A of FRS 102 and has not disclosed transactions with other wholly owned group companies.


30.


Controlling party

The company's ultimate parent company, which prepares consolidated financial statements is Archibald Bathgate Group Limited. Copies of the parent company's financial statements can be obtained from Companies House, Cardiff.
The directors consider the controlling party to be R.H. Walker. 

 
Page 30