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REGISTERED NUMBER: 02743771 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Flooring.UK.Com Limited

Flooring.UK.Com Limited (Registered number: 02743771)






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.UK.Com Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: G C J Latham
Mrs C Walkden
S G Latham





REGISTERED OFFICE: 22 - 24 Hart Street
Southport
Merseyside
PR8 6BT





REGISTERED NUMBER: 02743771 (England and Wales)





ACCOUNTANTS: Topping & Company
Chartered Accountants
209 Liverpool Road
Birkdale
Southport
Merseyside
PR8 4PH

Flooring.UK.Com Limited (Registered number: 02743771)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 6,663 3,807
Tangible assets 5 10,094 19,889
16,757 23,696

CURRENT ASSETS
Stocks 322,687 363,514
Debtors 6 536,026 603,866
Cash at bank and in hand 190,761 327,716
1,049,474 1,295,096
CREDITORS
Amounts falling due within one year 7 450,594 507,843
NET CURRENT ASSETS 598,880 787,253
TOTAL ASSETS LESS CURRENT
LIABILITIES

615,637

810,949

CREDITORS
Amounts falling due after more than one
year

8

(12,282

)

(82,281

)

PROVISIONS FOR LIABILITIES (4,116 ) (5,793 )
NET ASSETS 599,239 722,875

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 599,139 722,775
599,239 722,875

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

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

Flooring.UK.Com Limited (Registered number: 02743771)

Balance Sheet - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 May 2025 and were signed on its behalf by:





G C J Latham - Director


Flooring.UK.Com Limited (Registered number: 02743771)

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

1. STATUTORY INFORMATION

Flooring.UK.Com Limited is a private limited company, incorporated and registered in England and Wales (registered number 02743771). The address of the registered office is 22 - 24 Hart Street, Southport, Merseyside, PR8 6BT. The principal activity of the company is the sale of carpet and flooring products.

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.

The company's functional and presentational currency is GBP.

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

The company sells carpet and flooring products. The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.

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 over its estimated useful economic life.

Plant and machinery etc: 25% on cost.

At each reporting date the carrying value of the company's tangible fixed 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.

Flooring.UK.Com Limited (Registered number: 02743771)

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

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to sell. Cost is determined using the first in first out method.

The carrying amount of stock is recognised as an expense in the period in which the related revenue is recognised.

Stocks are assessed for impairment at each reporting date. The carrying amount of each item of stock, or similar items, is compared with its selling price less costs to sell. If an item of stock or a group of similar items is impaired, its carrying amount is reduced to selling price less costs to sell, 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 useful economic 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 under operating leases are charged to profit or loss on a straight line basis over the lease term.

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.

Flooring.UK.Com Limited (Registered number: 02743771)

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

2. ACCOUNTING POLICIES - continued

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.

The company's website is being amortised evenly over its estimated useful life of 5 years.

Coronavirus (covid-19) loans
The Company's Coronavirus Business Interruption Loan, entered into with Funding Circle Focal Point Lending Limited in accordance with the Coronavirus Business Interruption Loan Scheme introduced by the Government, is initially measured at transaction price. The loan is repayable over four years by monthly instalments commencing twelve months after draw down. Interest is charged on the loan at a fixed rate of 8.9% per annum and will be paid for by the Government Business Interruption Payment for the first twelve months.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 September 2023 26,529
Additions 4,759
At 31 August 2024 31,288
AMORTISATION
At 1 September 2023 22,722
Charge for year 1,903
At 31 August 2024 24,625
NET BOOK VALUE
At 31 August 2024 6,663
At 31 August 2023 3,807

Other intangible assets of the company are comprised solely of its website.

Flooring.UK.Com Limited (Registered number: 02743771)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 496,871
Additions 4,301
At 31 August 2024 501,172
DEPRECIATION
At 1 September 2023 476,982
Charge for year 14,096
At 31 August 2024 491,078
NET BOOK VALUE
At 31 August 2024 10,094
At 31 August 2023 19,889

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 103,696 110,880
Amounts owed by group undertakings 410,729 483,675
Other debtors 21,601 9,311
536,026 603,866

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts (see note 9) 69,999 64,060
Trade creditors 225,387 251,598
Taxation and social security 51,842 70,715
Other creditors 103,366 121,470
450,594 507,843

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans (see note 9) 12,282 82,281

Flooring.UK.Com Limited (Registered number: 02743771)

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

9. LOANS

An analysis of the maturity of loans is given below:

31.8.24 31.8.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 69,999 64,060

Amounts falling due between one and two years:
Bank loans - 1-2 years 12,282 69,999

Amounts falling due between two and five years:
Bank loans - 2-5 years - 12,282

The Company's Coronavirus Business Interruption Loan, entered into with Funding Circle Focal Point Lending Limited, is supported by the Coronavirus Business Interruption Loan Scheme which in turn is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £50,000 were paid to Flooring Enterprises Limited. Flooring Enterprises Limited is the Company's controlling party. The Company's called up share capital was transferred to Flooring Enterprises Limited on its incorporation on 8 October 2019.

Amounts payable by Flooring.UK.Com Limited to the Directors as at 31 August 2024 amounted to Nil (2023: Nil).