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REGISTERED NUMBER: 07602249 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 July 2024

for

PFM Carpets Limited

PFM Carpets Limited (Registered number: 07602249)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PFM Carpets Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: P F Maguire





REGISTERED OFFICE: 1 The Future Business Park
SHILDON
Co Durham
DL4 2RB





REGISTERED NUMBER: 07602249 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

PFM Carpets Limited (Registered number: 07602249)

Balance Sheet
31 July 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 71,960 43,725

CURRENT ASSETS
Stocks 5 8,410 8,410
Debtors 6 22,412 18,714
Cash at bank and in hand 123,117 198,636
153,939 225,760
CREDITORS
Amounts falling due within one year 7 (52,474 ) (90,201 )
NET CURRENT ASSETS 101,465 135,559
TOTAL ASSETS LESS CURRENT
LIABILITIES

173,425

179,284

CREDITORS
Amounts falling due after more than one
year

8

(26,852

)

(32,408

)

PROVISIONS FOR LIABILITIES 9 (17,990 ) (10,931 )
NET ASSETS 128,583 135,945

CAPITAL AND RESERVES
Called up share capital 10 106 106
Retained earnings 128,477 135,839
SHAREHOLDERS' FUNDS 128,583 135,945

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PFM Carpets Limited (Registered number: 07602249)

Balance Sheet - continued
31 July 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 director and authorised for issue on 15 April 2025 and were signed by:





P F Maguire - Director


PFM Carpets Limited (Registered number: 07602249)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

PFM Carpets Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Turnover
Turnover represents the amount derived from the provision of goods and services to customers after deduction of trade discounts and value added tax.

Income recognition
Income is recognised when a contract for the sale of goods and sale of goods and services is determined as unconditional.

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 - 20% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

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.


PFM Carpets Limited (Registered number: 07602249)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 August 2023 13,899 45,346 59,245
Additions 24,310 102,261 126,571
Disposals - (96,164 ) (96,164 )
At 31 July 2024 38,209 51,443 89,652
DEPRECIATION
At 1 August 2023 4,184 11,336 15,520
Charge for year 7,628 12,118 19,746
Eliminated on disposal - (17,574 ) (17,574 )
At 31 July 2024 11,812 5,880 17,692
NET BOOK VALUE
At 31 July 2024 26,397 45,563 71,960
At 31 July 2023 9,715 34,010 43,725

5. STOCKS
2024 2023
£    £   
Stocks 8,410 8,410

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 16,602 11,543
Prepayments and accrued income 5,810 7,171
22,412 18,714

PFM Carpets Limited (Registered number: 07602249)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,556 5,555
Trade creditors 4,802 5,368
Taxation and social security 14,192 12,887
Director's current account 2,132 36,357
Accruals and deferred income 25,792 30,034
52,474 90,201

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Government Bounce Back Loan 26,852 32,408

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 17,990 10,931

Deferred
tax
£   
Balance at 1 August 2023 10,931
Accelerated capital allowances 7,059
Balance at 31 July 2024 17,990

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
6 Ordinary A £1 6 6
106 106

Ordinary and Ordinary A shares, are entitled to one vote in any circumstances and entitled to varying rates of dividends as declared by the company from time to time. On the winding up of the company they have equity rights.