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UNITE FLOORING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






UNITE FLOORING LTD (REGISTERED NUMBER: 08512999)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


UNITE FLOORING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: T Waggett
B D Hinchliffe





REGISTERED OFFICE: 16 Granary Wharf Business Park
Wetmore Road
Burton-On-Trent
Staffordshire
DE14 1DU





REGISTERED NUMBER: 08512999 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

UNITE FLOORING LTD (REGISTERED NUMBER: 08512999)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 160,929 119,638

CURRENT ASSETS
Stocks 50,000 50,000
Debtors 5 2,432,454 1,611,637
Cash at bank 70,038 202,824
2,552,492 1,864,461
CREDITORS
Amounts falling due within one year 6 1,780,311 1,295,803
NET CURRENT ASSETS 772,181 568,658
TOTAL ASSETS LESS CURRENT LIABILITIES 933,110 688,296

CREDITORS
Amounts falling due after more than one
year

7

(127,145

)

(195,909

)

PROVISIONS FOR LIABILITIES 9 (7,900 ) (14,900 )
NET ASSETS 798,065 477,487

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 798,063 477,485
SHAREHOLDERS' FUNDS 798,065 477,487

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

UNITE FLOORING LTD (REGISTERED NUMBER: 08512999)

BALANCE SHEET - continued
30 SEPTEMBER 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 Board of Directors and authorised for issue on 8 May 2025 and were signed on its behalf by:





T Waggett - Director


UNITE FLOORING LTD (REGISTERED NUMBER: 08512999)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Unite Flooring Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover represents the estimated sales value of the work performed in the period. Amounts recoverable on contracts represents the value of work done at the lower of cost plus attributable profit and net realisable value, for which no invoice has been raised, but which is reflected within activity in the statement of income and retained earnings. Where cumulative payments on account exceed work completed for a contract, the excess is included in creditors as deferred income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

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.


UNITE FLOORING LTD (REGISTERED NUMBER: 08512999)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
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 19 (2023 - 19 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 54,373 14,666 104,371 27,000 200,410
Additions 8,085 1,750 85,190 13,761 108,786
Disposals (3,403 ) - (20,000 ) (10,712 ) (34,115 )
At 30 September 2024 59,055 16,416 169,561 30,049 275,081
DEPRECIATION
At 1 October 2023 38,206 3,160 26,523 12,883 80,772
Charge for year 4,405 1,886 32,518 4,993 43,802
Eliminated on disposal (1,313 ) - (833 ) (8,276 ) (10,422 )
At 30 September 2024 41,298 5,046 58,208 9,600 114,152
NET BOOK VALUE
At 30 September 2024 17,757 11,370 111,353 20,449 160,929
At 30 September 2023 16,167 11,506 77,848 14,117 119,638

UNITE FLOORING LTD (REGISTERED NUMBER: 08512999)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,153,780 437,578
Amounts owed by group undertakings 17,402 1,208
Amounts recoverable on contracts 1,117,559 1,099,009
Other debtors 143,713 73,842
2,432,454 1,611,637

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 37,739 46,575
Hire purchase contracts 23,164 18,992
Trade creditors 1,207,793 754,090
Taxation and social security 79,490 165,093
Other creditors 432,125 311,053
1,780,311 1,295,803

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 76,424 51,877
Other creditors 50,721 144,032
127,145 195,909

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 99,588 70,869
Other loans 39,167 71,678
138,755 142,547

The above loans are secured by fixed and floating charges over the assets of the company.

Hire purchase liabilities are secured on the individual assets to which they relate.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 7,900 14,900

UNITE FLOORING LTD (REGISTERED NUMBER: 08512999)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 October 2023 14,900
Provided during year (7,000 )
Balance at 30 September 2024 7,900

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

11. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £101,971 (2023: £134,412).

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, £126,649 (2023: £109,206) was advanced to directors. Repayments were made in the year of £111,525 (2023: £141,255). The amount due from directors at the year end was £13,993 (2023: £1,131 due to the directors). Interest was charged at the HMRC official rate of 2.25% (2023: 2%) on all overdrawn balances and all balances are repayable on demand.