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Registration number: 15052336

Parquet Flooring London Limited

Annual Report and Unaudited Financial Statements

for the Period from 7 August 2023 to 31 July 2024

 

Parquet Flooring London Limited

Contents
__________________________________________________________________________

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 11

Detailed Profit and Loss Account

12

 

Parquet Flooring London Limited

Company Information
__________________________________________________________________________

Director

B Rotblum

Registered office

Abbey House,
342 Regents Park Road
London
N3 2LJ


 

Accountants

Brooks Green
Chartered AccountantsAbbey House
342 Regents Park Road
London
N3 2LJ

 

Parquet Flooring London Limited

Director's Report for the Period from 7 August 2023 to 31 July 2024
__________________________________________________________________________

The director presents his report and the financial statements for the period from 7 August 2023 to 31 July 2024.

Incorporation

The company was incorporated on 7 August 2023 and commenced trading on 23 October 2023

Director of the company

The director who held office during the period was as follows:

B Rotblum (appointed 7 August 2023)

Principal activity

The principal activity of the company is wholesale and retail of parquet flooring.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 29 April 2025 and signed on its behalf by:



B Rotblum
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Statutory Accounts of
Parquet Flooring London Limited
__________________________________________________________________________

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Parquet Flooring London Limited for the period ended 31 July 2024 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

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

It is your duty to ensure that Parquet Flooring London Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Parquet Flooring London Limited. You consider that Parquet Flooring London Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Parquet Flooring London Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Brooks Green Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

29 April 2025

 

Parquet Flooring London Limited

Profit and Loss Account for the Period from 7 August 2023 to 31 July 2024
__________________________________________________________________________

Note

2024
£

Turnover

 

1,413,966

Cost of sales

 

(966,446)

Gross profit

 

447,520

Administrative expenses

 

(410,315)

Operating profit

 

37,205

Profit before tax

3

37,205

Taxation

 

(10,696)

Profit for the financial period

 

26,509

Retained earnings brought forward

 

-

Dividends paid

 

(7,400)

Retained earnings carried forward

 

19,109

The above results were derived from continuing operations.

The company has no recognised gains or losses for the period other than the results above.

 

Parquet Flooring London Limited

Statement of Comprehensive Income for the Period from 7 August 2023 to 31 July 2024
__________________________________________________________________________

2024
£

Profit for the period

26,509

Total comprehensive income for the period

26,509

 

Parquet Flooring London Limited

(Registration number: 15052336)
Balance Sheet as at 31 July 2024
__________________________________________________________________________

Note

2024
£

       

Fixed assets

   

Tangible assets

4

 

15,389

Current assets

   

Stocks

5

64,498

 

Debtors

6

219,156

 

Cash at bank and in hand

 

17,627

 

 

301,281

 

Creditors: Amounts falling due within one year

7

(297,461)

 

Net current assets

   

3,820

Net assets

   

19,209

Capital and reserves

   

Called up share capital

8

100

 

Retained earnings

19,109

 

Shareholders' funds

   

19,209

For the financial period ending 31 July 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 period 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.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 29 April 2025
 

.........................................
B Rotblum
Director

 

Parquet Flooring London Limited

Statement of Changes in Equity for the Period from 7 August 2023 to 31 July 2024
__________________________________________________________________________

Share capital
£

Retained earnings
£

Total
£

Profit for the period

-

26,509

26,509

Dividends

-

(7,400)

(7,400)

New share capital subscribed

100

-

100

At 31 July 2024

100

19,109

19,209

 

Parquet Flooring London Limited

Notes to the Unaudited Financial Statements for the Period from 7 August 2023 to 31 July 2024
__________________________________________________________________________

1

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 current 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.

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 taxable income.

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:

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.

 

Parquet Flooring London Limited

Notes to the Unaudited Financial Statements for the Period from 7 August 2023 to 31 July 2024
__________________________________________________________________________

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.

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.

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.

 

Parquet Flooring London Limited

Notes to the Unaudited Financial Statements for the Period from 7 August 2023 to 31 July 2024
__________________________________________________________________________

2

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 5.

3

Profit before tax

Arrived at after charging/(crediting)

2024
£

Depreciation expense

5,129

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

20,518

20,518

At 31 July 2024

20,518

20,518

Depreciation

Charge for the period

5,129

5,129

At 31 July 2024

5,129

5,129

Carrying amount

At 31 July 2024

15,389

15,389

5

Stocks

2024
£

Other inventories

64,498

6

Debtors

Current

2024
£

Trade debtors

38,528

Prepayments

15,243

Other debtors

165,385

 

219,156

 

Parquet Flooring London Limited

Notes to the Unaudited Financial Statements for the Period from 7 August 2023 to 31 July 2024
__________________________________________________________________________

7

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

182,661

Taxation and social security

113,246

Other creditors

1,554

297,461

8

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary of £1 each

100

100

   
 

Parquet Flooring London Limited

Detailed Profit and Loss Account for the Period from 7 August 2023 to 31 July 2024
__________________________________________________________________________

7 August 2023 to 31 July 2024
 

     

Turnover

 

1,413,966

Cost of sales

 

Purchases

852,101

 

Closing finished goods

(64,497)

 

Subcontract cost

178,842

 

 

(966,446)

Gross profit

 

447,520

Administrative expenses

 

Wages and salaries (excluding directors)

223,626

 

Staff NIC (Employers)

13,665

 

Rent and rates

43,733

 

Light, heat and power

13,589

 

Insurance

27,458

 

Repairs and maintenance

1,374

 

Telephone and fax

3,518

 

Computer software and maintenance costs

1,502

 

Printing, postage and stationery

4,316

 

Sundry expenses

2,814

 

Cleaning

7,873

 

Motor expenses

25,231

 

Travel and subsistence

1,823

 

Advertising

2,801

 

Accountancy fees

5,544

 

Legal and professional fees

12,574

 

Bank charges

13,745

 

Depreciation of equipment

5,129

 

 

410,315

Operating profit

 

37,205

Profit for the year before taxation

 

37,205