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REGISTERED NUMBER: 03695697 (England and Wales)















CLAYTON'S CARPETS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024






CLAYTON'S CARPETS LIMITED (REGISTERED NUMBER: 03695697)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CLAYTON'S CARPETS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: C F Burt
S M Burt





SECRETARY: C F Burt





REGISTERED OFFICE: Tritton House
Tritton Road
Dixon Street
Lincoln
Lincolnshire
LN6 7BN





REGISTERED NUMBER: 03695697 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR

CLAYTON'S CARPETS LIMITED (REGISTERED NUMBER: 03695697)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59,555 130,763
Investments 5 48 48
59,603 130,811

CURRENT ASSETS
Stocks 723,462 777,674
Debtors 6 474,617 338,861
Cash at bank and in hand 1,146,314 1,692,577
2,344,393 2,809,112
CREDITORS
Amounts falling due within one year 7 1,015,691 1,097,977
NET CURRENT ASSETS 1,328,702 1,711,135
TOTAL ASSETS LESS CURRENT LIABILITIES 1,388,305 1,841,946

PROVISIONS FOR LIABILITIES 12,377 20,983
NET ASSETS 1,375,928 1,820,963

CAPITAL AND RESERVES
Called up share capital 10 68,825 68,825
Retained earnings 1,307,103 1,752,138
SHAREHOLDERS' FUNDS 1,375,928 1,820,963

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.

CLAYTON'S CARPETS LIMITED (REGISTERED NUMBER: 03695697)

STATEMENT OF FINANCIAL POSITION - 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 29 January 2025 and were signed on its behalf by:





S M Burt - Director


CLAYTON'S CARPETS LIMITED (REGISTERED NUMBER: 03695697)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Clayton's Carpets Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of carpets and soft furnishing is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on reducing balance
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance, 10% on reducing balance and 3 - 6 years straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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 statement of financial position date.


CLAYTON'S CARPETS LIMITED (REGISTERED NUMBER: 03695697)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charges to the income statement on a straight line basis over the period of the lease.

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 the income statement in the period to which they relate.

Interest receivable
Interest income is recognised using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 24 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2023 211,523 522,242 733,765
Additions 2,480 1,284 3,764
Disposals (196,588 ) (188,707 ) (385,295 )
At 31 August 2024 17,415 334,819 352,234
DEPRECIATION
At 1 September 2023 174,042 428,960 603,002
Charge for year 692 12,385 13,077
Eliminated on disposal (164,893 ) (158,507 ) (323,400 )
At 31 August 2024 9,841 282,838 292,679
NET BOOK VALUE
At 31 August 2024 7,574 51,981 59,555
At 31 August 2023 37,481 93,282 130,763

CLAYTON'S CARPETS LIMITED (REGISTERED NUMBER: 03695697)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2023
and 31 August 2024 48
NET BOOK VALUE
At 31 August 2024 48
At 31 August 2023 48

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 58,273 58,846
Amounts owed by group undertakings 248,979 135,549
Other debtors 167,365 144,466
474,617 338,861

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 634,277 661,618
Taxation and social security 210,834 192,764
Other creditors 170,580 243,595
1,015,691 1,097,977

8. LEASING AGREEMENTS

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

9. SECURED DEBTS

There is a fixed and floating charge over all the property and undertaking of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
68,825 Ordinary £1 68,825 68,825

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

One of the director's has a directors loan account totalling £65,576 overdrawn brought forward (2023: £304 in credit). During the year, the director of the company borrowed £9,540 (2023: £65,002) from the company and repaid £Nil (2023: £Nil). Interest of £1,312 (2023: £657) was charged on the overdrawn amount. The balance at the end of the year totalled £76,428 (2023: £65,576 overdrawn).