| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2024 |
| for |
| Flooring Enterprises Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2024 |
| for |
| Flooring Enterprises Limited |
| Flooring Enterprises Limited (Registered number: 12248499) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Flooring Enterprises Limited |
| Company Information |
| for the Year Ended 31 August 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 209 Liverpool Road |
| Birkdale |
| Southport |
| Merseyside |
| PR8 4PH |
| Flooring Enterprises Limited (Registered number: 12248499) |
| Balance Sheet |
| 31 August 2024 |
| 31.8.24 | 31.8.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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. |
| Flooring Enterprises Limited (Registered number: 12248499) |
| Balance Sheet - continued |
| 31 August 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Flooring Enterprises Limited (Registered number: 12248499) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2024 |
| 1. | STATUTORY INFORMATION |
| Flooring Enterprises Limited is a private company, limited by shares, in England and Wales (registered number 12248499). The company's registered office address is 22 - 24 Hart Street, Southport, Merseyside, PR8 6BT. The company is a holding company. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The company's functional and presentational currency is GBP. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Flooring Enterprises Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Tangible fixed assets |
| All tangible assets are initially recorded at cost. Cost includes all expenditure directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner included by management. |
| Depreciation is provided at the following annual rates in order to write off each asset's cost less its residual amount over its estimated useful life:- |
| Buildings - 2% on cost, where cost is greater than residual amount for the respective building. |
| Land is not depreciated. |
| At each reporting date the company's tangible assets are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or related group of assets, which is the higher of value in use and the fair value less cost to sell is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss. |
| If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Flooring Enterprises Limited (Registered number: 12248499) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities. |
| Financial assets that are measured at cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
| Short term debtors are measured at transaction price, less any impairment. |
| Short term creditors are measured at the transaction price. |
| Financial assets are derecognised when the rights to receive cash flows from the asset have expired. Provision is made where there is objective evidence that the company will not be able to collect certain debts. Bad debts are written off when identified. Financial liabilities are derecognised when the obligations under the liability is discharged, cancelled or expires. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
| 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. |
| Income from shares in group undertakings |
| Income from shares in group undertakings comprise of dividends received from Flooring UK.Com Limited. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Land and |
| buildings |
| £ |
| COST |
| At 1 September 2023 |
| and 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| Flooring Enterprises Limited (Registered number: 12248499) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| The depreciation charge for the year ended 31 August 2024 amounted to £NIL because in the opinion of the directors there is no depreciable amount as the building's residual value is greater than its respective cost. |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 September 2023 |
| and 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| Shares in group undertakings are stated at cost. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 661,008 | 722,622 |
| 9. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £46,500 (2023 - £2,500) were paid to the directors . |
| Flooring Enterprises Limited (Registered number: 12248499) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 9. | RELATED PARTY DISCLOSURES - continued |
| During the year ended 31 August 2024 dividends receivable by the Company from Flooring UK.Com Limited, the Company's wholly owned subsidiary, amounted to £50,000 (2023: £23,150). |
| Amounts payable by the Company to Flooring UK.Com Limited as at 31 August 2024 amounted to £365,639 (2023: £364,072). |
| Amounts payable by the Company to its wholly owned dormant subsidiary, Flooring UK.Online Limited, as at 31 August 2024, amounted to £100 (2023: £100) |
| 10. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |
| 11. | CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS |
| The preparation of the financial statements, in conformity with generally accepted accounting principles, requires the use of estimates and judgements that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although these estimates are based on the directors' best knowledge of current events and results, actual results ultimately may differ from those estimates. |
| The directors determined whether there were any indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a conclusion included the economic viability and expected future financial performance of the assets. Tangible fixed assets are depreciated over their useful lives taking into account residual values. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as maintenance programmes are taken into account. Residual value assessments consider issues such as the remaining life of the assets and projected disposal values. |
| The directors do not consider there to be any additional estimates and judgements in connection with the preparation of the company's year ended 31 August 2024 financial statements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities at the balance sheet date of 31 August 2024. |