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REGISTERED NUMBER: 04532950 (England and Wales)
















Financial Statements

for the Year Ended 31 October 2024

for

Nailsworth Carpets Limited

Nailsworth Carpets Limited (Registered number: 04532950)

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










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


Nailsworth Carpets Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mr S H Marshall
Mrs B C Marshall





REGISTERED OFFICE: Unit 6 Priory Industrial Estate
Tetbury
Gloucestershire
GL8 8HZ





REGISTERED NUMBER: 04532950 (England and Wales)





ACCOUNTANTS: Xeinadin South Wales & West Limited
701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT

Nailsworth Carpets Limited

Report of the Accountants to the Directors of
Nailsworth Carpets Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the financial statements of the Company. 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 financial statements.






Xeinadin South Wales & West Limited


30 April 2025

Nailsworth Carpets Limited (Registered number: 04532950)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 10,500 12,000
Tangible assets 5 203,255 204,927
213,755 216,927

CURRENT ASSETS
Stocks 48,500 20,100
Debtors 6 69,280 82,891
Cash at bank 82,041 96,915
199,821 199,906
CREDITORS
Amounts falling due within one year 7 115,732 122,479
NET CURRENT ASSETS 84,089 77,427
TOTAL ASSETS LESS CURRENT LIABILITIES 297,844 294,354

CREDITORS
Amounts falling due after more than one year 8 (3,657 ) (10,664 )

PROVISIONS FOR LIABILITIES (755 ) (3,427 )
NET ASSETS 293,432 280,263

Nailsworth Carpets Limited (Registered number: 04532950)

Balance Sheet - continued
31 October 2024

2024 2023
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 293,332 280,163
293,432 280,263

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 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.

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 30 April 2025 and were signed on its behalf by:





Mr S H Marshall - Director


Nailsworth Carpets Limited (Registered number: 04532950)

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


1. STATUTORY INFORMATION

Nailsworth 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 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.

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

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

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.
Freehold property - nil
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Nailsworth Carpets Limited (Registered number: 04532950)

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

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.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 15,000
AMORTISATION
At 1 November 2023 3,000
Charge for year 1,500
At 31 October 2024 4,500
NET BOOK VALUE
At 31 October 2024 10,500
At 31 October 2023 12,000

Nailsworth Carpets Limited (Registered number: 04532950)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 186,891 9,554 22,153 697 219,295
Additions - 1,508 7,669 - 9,177
Disposals - - (7,920 ) - (7,920 )
At 31 October 2024 186,891 11,062 21,902 697 220,552
DEPRECIATION
At 1 November 2023 - 6,778 7,451 139 14,368
Charge for year - 428 3,023 140 3,591
Eliminated on disposal - - (662 ) - (662 )
At 31 October 2024 - 7,206 9,812 279 17,297
NET BOOK VALUE
At 31 October 2024 186,891 3,856 12,090 418 203,255
At 31 October 2023 186,891 2,776 14,702 558 204,927

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
At 1 November 2023 7,920
Additions 7,669
Disposals (7,920 )
At 31 October 2024 7,669
DEPRECIATION
At 1 November 2023 662
Charge for year 1,534
Eliminated on disposal (662 )
At 31 October 2024 1,534
NET BOOK VALUE
At 31 October 2024 6,135
At 31 October 2023 7,258

Nailsworth Carpets Limited (Registered number: 04532950)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 64,822 80,404
Other debtors 4,458 2,487
69,280 82,891

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,177 5,045
Finance leases (see note 9) 2,058 597
Trade creditors 34,473 35,979
Taxation and social security 31,256 36,402
Other creditors 42,768 44,456
115,732 122,479

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 3,092 8,278
Finance leases (see note 9) 565 2,386
3,657 10,664

Nailsworth Carpets Limited (Registered number: 04532950)

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


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2024 2023
£    £   
Gross obligations repayable:
Within one year 3,675 3,996
Between one and five years 613 3,330
4,288 7,326

Finance charges repayable:
Within one year 1,617 3,399
Between one and five years 48 944
1,665 4,343

Net obligations repayable:
Within one year 2,058 597
Between one and five years 565 2,386
2,623 2,983

Non-cancellable operating leases
2024 2023
£    £   
Within one year 4,512 4,512
Between one and five years - 4,512
4,512 9,024