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REGISTERED NUMBER: 07457168 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2024

FOR

FLEXFLOORING LIMITED

FLEXFLOORING LIMITED (REGISTERED NUMBER: 07457168)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


FLEXFLOORING LIMITED (REGISTERED NUMBER: 07457168)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 5 28,468 28,279
Tangible assets 6 156,141 160,673
184,609 188,952

CURRENT ASSETS
Stocks 7 51,749 85,084
Debtors 8 136,055 120,509
Cash at bank 138,671 167,405
326,475 372,998
CREDITORS
Amounts falling due within one year 9 291,009 351,566
NET CURRENT ASSETS 35,466 21,432
TOTAL ASSETS LESS CURRENT
LIABILITIES

220,075

210,384

CREDITORS
Amounts falling due after more than one
year

10

(34,397

)

(55,472

)

PROVISIONS FOR LIABILITIES 12 (26,968 ) (27,331 )
NET ASSETS 158,710 127,581

CAPITAL AND RESERVES
Called up share capital 13 58 58
Share premium 59,900 59,900
Capital redemption reserve 45 45
Non-distributable reserve 14 40,522 38,853
Retained earnings 58,185 28,725
SHAREHOLDERS' FUNDS 158,710 127,581

FLEXFLOORING LIMITED (REGISTERED NUMBER: 07457168)

BALANCE SHEET - continued
31 DECEMBER 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Profit and loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 April 2025 and were signed by:





Mr S J C Hubble - Director


FLEXFLOORING LIMITED (REGISTERED NUMBER: 07457168)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Flexflooring Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07457168

Registered office: Pharmacy Chambers
High Street
Wadhurst
East Sussex
TN5 6AP

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

FLEXFLOORING LIMITED (REGISTERED NUMBER: 07457168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


3. ACCOUNTING POLICIES - continued

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and then nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the foods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measure reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or the be incurred in respect if the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that is probable will be recovered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of an asset as follows:

Goodwill - 10% straight line

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at costs less any accumulated amortisation and any accumulated impairment losses.

Patents and licences have no amortisation.

Trademarks' are deemed to have an expected life of 10 years and will be amortised over this period.

The website development costs has been assessed to have a useful life of 10 years and is therefore amortised over this period in the financial statements; however there are adjustments made to reflect the fair value of the website, as needed. The director feels that the website maintains its value with appropriate update to ensure it is up to date and relevant as a business income driver.

FLEXFLOORING LIMITED (REGISTERED NUMBER: 07457168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


3. ACCOUNTING POLICIES - continued

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.
Plant and machinery - 10% on cost
Fixtures and fittings - 18% on cost
Motor vehicles - 17% on cost

All fixed assets are initially recorded at cost.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit and loss. Reversals of impairment losses are also recognised in profit and loss.

FLEXFLOORING LIMITED (REGISTERED NUMBER: 07457168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.


FLEXFLOORING LIMITED (REGISTERED NUMBER: 07457168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss, 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

FLEXFLOORING LIMITED (REGISTERED NUMBER: 07457168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


3. ACCOUNTING POLICIES - continued

Impairment of fixed assets
At each reporting date, fixed assets are reviewed to determine whether there is any indication that those assets have suffered and impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and and impairment loss is recognised immediately in profit and loss.

If an impairment loss subsequently reversed, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised to the asset in prior years. A reversal if impairment is recognised immediately in profit and loss.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

FLEXFLOORING LIMITED (REGISTERED NUMBER: 07457168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Website Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2024 580 810 27,469 28,859
Additions - 300 - 300
At 31 December 2024 580 1,110 27,469 29,159
AMORTISATION
At 1 January 2024 580 - - 580
Amortisation for year - 111 - 111
At 31 December 2024 580 111 - 691
NET BOOK VALUE
At 31 December 2024 - 999 27,469 28,468
At 31 December 2023 - 810 27,469 28,279

Cost or valuation at 31 December 2024 is represented by:

Patents
and
Goodwill licences Website Totals
£    £    £    £   
Valuation in 2024 580 1,110 27,469 29,159

The revaluation above is a Fair Value adjustment. The director feels that the website maintains its value with appropriate update to ensure it is up to date and relevant as a business income driver.

FLEXFLOORING LIMITED (REGISTERED NUMBER: 07457168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2024 54,876 31,261 188,443 274,580
Additions 6,749 - 19,700 26,449
Revaluations 1,625 (1,197 ) 6,246 6,674
At 31 December 2024 63,250 30,064 214,389 307,703
DEPRECIATION
At 1 January 2024 36,834 26,446 50,627 113,907
Charge for year 5,087 1,527 31,041 37,655
At 31 December 2024 41,921 27,973 81,668 151,562
NET BOOK VALUE
At 31 December 2024 21,329 2,091 132,721 156,141
At 31 December 2023 18,042 4,815 137,816 160,673

Cost or valuation at 31 December 2024 is represented by:

Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Valuation in 2024 63,250 30,064 214,389 307,703

FLEXFLOORING LIMITED (REGISTERED NUMBER: 07457168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 January 2024 83,377
Revaluations 4,910
At 31 December 2024 88,287
DEPRECIATION
At 1 January 2024 17,296
Charge for year 13,590
At 31 December 2024 30,886
NET BOOK VALUE
At 31 December 2024 57,401
At 31 December 2023 66,081

7. STOCKS
2024 2023
£    £   
Stocks 51,749 85,084

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 79,351 104,368
Amounts owed by group undertakings 17,910 -
Amounts receivable on contracts 24,403 -
Other debtors 2,000 6,808
Director's current account 11,206 9,333
Prepayments and accrued income 1,185 -
136,055 120,509

FLEXFLOORING LIMITED (REGISTERED NUMBER: 07457168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,397 9,457
Hire purchase contracts (see note 11) 9,994 9,994
Trade creditors 189,339 261,801
Corporation tax 37,943 21,808
PAYE and social security 11,829 15,182
VAT 18,715 16,554
Other creditors 876 3,000
Accruals and deferred income 11,916 13,770
291,009 351,566

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 4,409 9,457
Bank loans - 2-5 years - 6,033
Hire purchase contracts (see note 11) 29,988 39,982
34,397 55,472

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 9,994 9,994
Between one and five years 29,988 39,982
39,982 49,976

FLEXFLOORING LIMITED (REGISTERED NUMBER: 07457168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


11. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 26,184 29,640
Between one and five years 58,080 24,700
84,264 54,340

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 26,968 27,331

Deferred
tax
£   
Balance at 1 January 2024 27,331
Provided during year (363 )
Balance at 31 December 2024 26,968

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
55 Ordinary A £1 52 55
3 Ordinary B £1 3 3
3 Ordinary C £1 3 -
58 58

FLEXFLOORING LIMITED (REGISTERED NUMBER: 07457168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


14. RESERVES
Non-distributable
reserve
£   
At 1 January 2024 38,853
Transfer to non-distributable
reserve 1,669

At 31 December 2024 40,522

15. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
Mr S J C Hubble
Balance outstanding at start of year 9,333 1,285
Amounts advanced 13,684 78,360
Amounts repaid (11,812 ) (70,312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 11,205 9,333

Interest has been applied on the Director's loan at the HMRC market rate of 2.25%.

16. RELATED PARTY DISCLOSURES

Included in 'Amounts owed by group undertakings' is £17,910 (2023: £NIL) owing from Vuba Surfaces Kent Limited, company who shares a common Director. The loan is interest free and repayable on demand.