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REGISTERED NUMBER: 12248499 (England and Wales)















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: G C J Latham
S G Latham





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





REGISTERED NUMBER: 12248499 (England and Wales)





ACCOUNTANTS: Topping & Company
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 2,470,845 2,470,845
Investments 5 200 200
2,471,045 2,471,045

CURRENT ASSETS
Debtors 6 1,855 1,765
Cash at bank 18,449 15,632
20,304 17,397
CREDITORS
Amounts falling due within one year 7 579,074 577,692
NET CURRENT LIABILITIES (558,770 ) (560,295 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,912,275

1,910,750

CREDITORS
Amounts falling due after more than one
year

8

1,466,751

1,528,365
NET ASSETS 445,524 382,385

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 445,424 382,285
445,524 382,385

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 Enterprises Limited (Registered number: 12248499)

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:





S G Latham - Director


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
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.

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 2,470,845
NET BOOK VALUE
At 31 August 2024 2,470,845
At 31 August 2023 2,470,845

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 200
NET BOOK VALUE
At 31 August 2024 200
At 31 August 2023 200

Shares in group undertakings are stated at cost.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors 1,855 1,765

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 201,436 201,436
Trade creditors - 201
Amounts owed to group undertakings 365,739 364,172
Taxation and social security 10,502 10,469
Other creditors 1,397 1,414
579,074 577,692

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 1,466,751 1,528,365

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 G C J Latham.

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.