| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2024 |
| for |
| Flooring.UK.Com Limited |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 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 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| 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.UK.Com Limited (Registered number: 02743771) |
| Balance Sheet - continued |
| 31 August 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| 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 |
| 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 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 September 2023 |
| Additions |
| At 31 August 2024 |
| AMORTISATION |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 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 |
| Additions |
| At 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Bank loans and overdrafts (see note 9) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Bank loans (see note 9) |
| 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 |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| 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). |