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REGISTERED NUMBER: 11228433 (England and Wales)















Unaudited Financial Statements

for the Year Ended 28 February 2025

for

Ian Ward Flooring Limited

Ian Ward Flooring Limited (Registered number: 11228433)






Contents of the Financial Statements
FOR THE YEAR ENDED 28 FEBRUARY 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ian Ward Flooring Limited

Company Information
FOR THE YEAR ENDED 28 FEBRUARY 2025







DIRECTORS: I Ward
A J Ward





REGISTERED OFFICE: The Stable Yard
25-33 Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN





REGISTERED NUMBER: 11228433 (England and Wales)





ACCOUNTANTS: Connolly Accountants & Business Advisors Ltd
Chartered Certified Accountants
The Stable Yard
25-33 Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN

Ian Ward Flooring Limited (Registered number: 11228433)

Balance Sheet
28 FEBRUARY 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 21,286 27,073

CURRENT ASSETS
Debtors 5 36,784 70,659
Cash at bank 46,737 6,599
83,521 77,258
CREDITORS
Amounts falling due within one year 6 77,338 62,613
NET CURRENT ASSETS 6,183 14,645
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,469

41,718

CREDITORS
Amounts falling due after more than one year 7 (10,919 ) (16,282 )

PROVISIONS FOR LIABILITIES (5,019 ) (6,121 )
NET ASSETS 11,531 19,315

CAPITAL AND RESERVES
Called up share capital 103 103
Retained earnings 11,428 19,212
11,531 19,315

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Ian Ward Flooring Limited (Registered number: 11228433)

Balance Sheet - continued
28 FEBRUARY 2025


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 Board of Directors and authorised for issue on 24 April 2025 and were signed on its behalf by:





I Ward - Director


Ian Ward Flooring Limited (Registered number: 11228433)

Notes to the Financial Statements
FOR THE YEAR ENDED 28 FEBRUARY 2025

1. STATUTORY INFORMATION

Ian Ward Flooring 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 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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 3 years

Ian Ward Flooring Limited (Registered number: 11228433)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

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

Basic financial liabilities
Basic financial liabilities, including creditors and loans from related companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

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

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.


Ian Ward Flooring Limited (Registered number: 11228433)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant & and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2024 - 255 39,385 1,382 41,022
Additions 488 - - 665 1,153
At 28 February 2025 488 255 39,385 2,047 42,175
DEPRECIATION
At 1 March 2024 - 255 12,595 1,099 13,949
Charge for year 108 - 6,698 134 6,940
At 28 February 2025 108 255 19,293 1,233 20,889
NET BOOK VALUE
At 28 February 2025 380 - 20,092 814 21,286
At 29 February 2024 - - 26,790 283 27,073


Ian Ward Flooring Limited (Registered number: 11228433)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 20,045 54,935
Other debtors 16,739 15,724
36,784 70,659

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Hire purchase contracts (see note 8) 5,363 4,725
Trade creditors 10,871 21,051
Taxation and social security 37,578 35,892
Other creditors 23,526 945
77,338 62,613

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Hire purchase contracts (see note 8) 10,919 16,282

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025 2024
£    £   
Gross obligations repayable:
Within one year 6,825 6,825
Between one and five years 11,943 18,768
18,768 25,593

Finance charges repayable:
Within one year 1,462 2,100
Between one and five years 1,024 2,486
2,486 4,586

Net obligations repayable:
Within one year 5,363 4,725
Between one and five years 10,919 16,282
16,282 21,007

Ian Ward Flooring Limited (Registered number: 11228433)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

8. LEASING AGREEMENTS - continued

The hire purchase agreements are secured against the assets to which they relate.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2025 and 29 February 2024:

2025 2024
£    £   
**UNKNOWN DIRECTOR 1**
Balance outstanding at start of year 7,510 14,924
Amounts advanced 89,056 1,318
Amounts repaid (89,114 ) (8,732 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,452 7,510

The loan is interest free and has no fixed repayment terms.