Registered number
14188466
MADE TO MEASURE CARPETS LTD
Filleted Accounts
30 June 2024
MADE TO MEASURE CARPETS LTD
Registered number: 14188466
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 183,012 157,676
Current assets
Stocks 20,500 7,250
Debtors 4 43,746 28,024
Cash at bank and in hand 16,478 44,364
80,724 79,638
Creditors: amounts falling due within one year 5 (115,263) (101,490)
Net current liabilities (34,539) (21,852)
Total assets less current liabilities 148,473 135,824
Creditors: amounts falling due after more than one year 6 (150,504) (118,855)
Net (liabilities)/assets (2,031) 16,969
Capital and reserves
Called up share capital 100 100
Profit and loss account (2,131) 16,869
Shareholders' funds (2,031) 16,969
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
IRFAN IQBAL
Director
Approved by the board on 14 March 2025
MADE TO MEASURE CARPETS LTD
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 175,196
Additions 47,448
At 30 June 2024 222,644
Depreciation
At 1 July 2023 17,520
Charge for the year 22,112
At 30 June 2024 39,632
Net book value
At 30 June 2024 183,012
At 30 June 2023 157,676
4 Debtors 2024 2023
£ £
Trade debtors 43,746 28,024
5 Creditors: amounts falling due within one year 2024 2023
£ £
Private Loans 27,500 -
Trade creditors 61,405 61,053
Other creditors 26,358 40,437
115,263 101,490
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 150,000 15,000
Other creditors 504 103,855
150,504 118,855
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
IRFAN IQBAL
[Loan 1] - 24,855 (24,351) 504
ZAKIA YOUNIS-IQBAL
[Loan 1] - 79,000 (79,000) -
- 103,855 (103,351) 504
8 Controlling party
The company is under the full control of the Directors by virtue of them owning the fully issued share capital.
9 Other information
MADE TO MEASURE CARPETS LTD is a private company limited by shares and incorporated in England. Its registered office is:
20 FIELD LANE
BATLEY
WF17 5AG
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