Acorah Software Products - Accounts Production 16.3.350 false true true 31 October 2023 1 November 2022 false 1 November 2023 31 October 2024 31 October 2024 11628118 Mr Brandon Junior Thasan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11628118 2023-10-31 11628118 2024-10-31 11628118 2023-11-01 2024-10-31 11628118 frs-core:CurrentFinancialInstruments 2024-10-31 11628118 frs-core:Non-currentFinancialInstruments 2024-10-31 11628118 frs-core:MotorVehicles 2024-10-31 11628118 frs-core:MotorVehicles 2023-11-01 2024-10-31 11628118 frs-core:MotorVehicles 2023-10-31 11628118 frs-core:PlantMachinery 2024-10-31 11628118 frs-core:PlantMachinery 2023-11-01 2024-10-31 11628118 frs-core:PlantMachinery 2023-10-31 11628118 frs-core:ShareCapital 2024-10-31 11628118 frs-core:RetainedEarningsAccumulatedLosses 2024-10-31 11628118 frs-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 11628118 frs-bus:FilletedAccounts 2023-11-01 2024-10-31 11628118 frs-bus:SmallEntities 2023-11-01 2024-10-31 11628118 frs-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 11628118 frs-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 11628118 frs-bus:Director1 2023-11-01 2024-10-31 11628118 frs-countries:EnglandWales 2023-11-01 2024-10-31 11628118 2022-10-31 11628118 2023-10-31 11628118 2022-11-01 2023-10-31 11628118 frs-core:CurrentFinancialInstruments 2023-10-31 11628118 frs-core:Non-currentFinancialInstruments 2023-10-31 11628118 frs-core:ShareCapital 2023-10-31 11628118 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31
Registered number: 11628118
First Choice Carpets & Flooring Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
Spicer & Co UK Limited
Chartered Accountants
Staple House
5 Eleanors Cross
Dunstable
Bedfordshire
LU6 1SU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11628118
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,840 4,834
2,840 4,834
CURRENT ASSETS
Debtors 5 13,615 13,567
Cash at bank and in hand 7,227 5,979
20,842 19,546
Creditors: Amounts Falling Due Within One Year 6 (18,441 ) (17,626 )
NET CURRENT ASSETS (LIABILITIES) 2,401 1,920
TOTAL ASSETS LESS CURRENT LIABILITIES 5,241 6,754
Creditors: Amounts Falling Due After More Than One Year 7 (4,583 ) (5,582 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (540 ) (1,126 )
NET ASSETS 118 46
CAPITAL AND RESERVES
Called up share capital 9 2 1
Profit and Loss Account 116 45
SHAREHOLDERS' FUNDS 118 46
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For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Brandon Junior Thasan
Director
24/03/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
First Choice Carpets & Flooring Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11628118 . The registered office is Unit 12, Icknield Way Business Farm Tring Road,, Eaton Bray,, Dunstable, England, LU6 2JX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existance for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery over 5 years
Motor Vehicles over 4 years
2.5. Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.7. Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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2.8. Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 November 2023 2,170 6,238 8,408
As at 31 October 2024 2,170 6,238 8,408
Depreciation
As at 1 November 2023 828 2,746 3,574
Provided during the period 434 1,560 1,994
As at 31 October 2024 1,262 4,306 5,568
Net Book Value
As at 31 October 2024 908 1,932 2,840
As at 1 November 2023 1,342 3,492 4,834
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 13,615 13,567
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 147 89
Bank loans and overdrafts 7,290 10,155
Other creditors 26 -
Taxation and social security 10,978 7,382
18,441 17,626
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 4,583 5,582
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8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 540 1,126
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 1
10. Pension Commitments
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £26 (PY: Nil) were due to the fund. They are included in Other Creditors.
11. Reserves
Profit and Loss Account
The Profit and Loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholder. This is a distributable reserve.
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