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No description of principal activity
2023-09-01
Sage Accounts Production Advanced 2024 - FRS102_2024
10,055
10,055
xbrli:pure
xbrli:shares
iso4217:GBP
10231397
2023-09-01
2024-08-31
10231397
2024-08-31
10231397
2023-08-31
10231397
2022-09-01
2023-08-31
10231397
2023-08-31
10231397
2022-08-31
10231397
core:NetGoodwill
2023-09-01
2024-08-31
10231397
core:MotorVehicles
2023-09-01
2024-08-31
10231397
bus:Director1
2023-09-01
2024-08-31
10231397
bus:Director2
2023-09-01
2024-08-31
10231397
core:NetGoodwill
2024-08-31
10231397
core:MotorVehicles
2023-08-31
10231397
core:MotorVehicles
2024-08-31
10231397
core:WithinOneYear
2024-08-31
10231397
core:WithinOneYear
2023-08-31
10231397
core:AfterOneYear
2024-08-31
10231397
core:AfterOneYear
2023-08-31
10231397
core:ShareCapital
2024-08-31
10231397
core:ShareCapital
2023-08-31
10231397
core:SharePremium
2024-08-31
10231397
core:SharePremium
2023-08-31
10231397
core:RetainedEarningsAccumulatedLosses
2024-08-31
10231397
core:RetainedEarningsAccumulatedLosses
2023-08-31
10231397
core:MotorVehicles
2023-08-31
10231397
bus:SmallEntities
2023-09-01
2024-08-31
10231397
bus:AuditExemptWithAccountantsReport
2023-09-01
2024-08-31
10231397
bus:SmallCompaniesRegimeForAccounts
2023-09-01
2024-08-31
10231397
bus:PrivateLimitedCompanyLtd
2023-09-01
2024-08-31
10231397
bus:FullAccounts
2023-09-01
2024-08-31
10231397
core:OfficeEquipment
2023-09-01
2024-08-31
10231397
core:OfficeEquipment
2023-08-31
10231397
core:OfficeEquipment
2024-08-31
COMPANY REGISTRATION NUMBER:
10231397
|
Home Style Carpets & Flooring (Chester) Limited |
|
|
Filleted Unaudited Financial Statements |
|
|
Home Style Carpets & Flooring (Chester) Limited |
|
|
Statement of Financial Position |
|
31 August 2024
Fixed assets
|
Tangible assets |
6 |
9,295 |
8,837 |
|
|
|
|
Current assets
|
Stocks |
500 |
9,327 |
|
Debtors |
7 |
33,471 |
43,628 |
|
Cash at bank and in hand |
46,624 |
32,220 |
|
-------- |
-------- |
|
80,595 |
85,175 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
92,207 |
86,984 |
|
-------- |
-------- |
|
Net current liabilities |
11,612 |
1,809 |
|
-------- |
------- |
|
Total assets less current liabilities |
(
2,317) |
7,028 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
3,382 |
7,382 |
|
|
|
|
|
Provisions |
2,463 |
2,342 |
|
------- |
------- |
|
Net liabilities |
(
8,162) |
(
2,696) |
|
------- |
------- |
|
|
|
Capital and reserves
|
Called up share capital |
100 |
100 |
|
Share premium account |
11,005 |
11,005 |
|
Profit and loss account |
(
19,267) |
(
13,801) |
|
-------- |
-------- |
|
Shareholders deficit |
(
8,162) |
(
2,696) |
|
-------- |
-------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
Home Style Carpets & Flooring (Chester) Limited |
|
|
Statement of Financial Position (continued) |
|
31 August 2024
These financial statements were approved by the
board of directors
and authorised for issue on
27 May 2025
, and are signed on behalf of the board by:
|
Mr D Evans |
Mr M Lewis |
|
Director |
Director |
|
|
Company registration number:
10231397
|
Home Style Carpets & Flooring (Chester) Limited |
|
|
Notes to the Financial Statements |
|
Year ended 31 August 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1, Cambrian House, Railway Road, Brymbo, Wrexham, LL11 5EA.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have prepared the accounts on a going concern basis and are taking steps to improve the trading position and insure profitability going forwards.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances
.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill |
- |
20% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Motor vehicles |
- |
20% reducing balance |
|
Equipment |
- |
20% reducing balance |
|
|
|
|
Stocks
Stocks are measured 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 the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2023:
3
).
5.
Intangible assets
|
Goodwill |
|
£ |
|
Cost |
|
|
At 1 September 2023 and 31 August 2024 |
10,055 |
|
-------- |
|
Amortisation |
|
|
At 1 September 2023 and 31 August 2024 |
10,055 |
|
-------- |
|
Carrying amount |
|
|
At 31 August 2024 |
– |
|
-------- |
|
At 31 August 2023 |
– |
|
-------- |
|
|
6.
Tangible assets
|
Motor vehicles |
Equipment |
Total |
|
£ |
£ |
£ |
|
Cost |
|
|
|
|
At 1 September 2023 |
21,037 |
7,251 |
28,288 |
|
Additions |
4,579 |
– |
4,579 |
|
Disposals |
(
2,867) |
– |
(
2,867) |
|
-------- |
------- |
-------- |
|
At 31 August 2024 |
22,749 |
7,251 |
30,000 |
|
-------- |
------- |
-------- |
|
Depreciation |
|
|
|
|
At 1 September 2023 |
15,004 |
4,447 |
19,451 |
|
Charge for the year |
2,350 |
561 |
2,911 |
|
Disposals |
(
1,657) |
– |
(
1,657) |
|
-------- |
------- |
-------- |
|
At 31 August 2024 |
15,697 |
5,008 |
20,705 |
|
-------- |
------- |
-------- |
|
Carrying amount |
|
|
|
|
At 31 August 2024 |
7,052 |
2,243 |
9,295 |
|
-------- |
------- |
-------- |
|
At 31 August 2023 |
6,033 |
2,804 |
8,837 |
|
-------- |
------- |
-------- |
|
|
|
|
7.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
32,569 |
41,490 |
|
Other debtors |
902 |
2,138 |
|
-------- |
-------- |
|
33,471 |
43,628 |
|
-------- |
-------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
4,259 |
4,259 |
|
Trade creditors |
7,686 |
21,682 |
|
Social security and other taxes |
29,200 |
18,729 |
|
Other creditors |
51,062 |
42,314 |
|
-------- |
-------- |
|
92,207 |
86,984 |
|
-------- |
-------- |
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
3,382 |
7,382 |
|
------- |
------- |
|
|
|
10.
Directors' advances, credits and guarantees
In the period the directors operated loan accounts with the company, the opening debit balance of which was £1,577 (2023 £665 credit) and the closing credit balance was £17,398 (2023 £1,577 debit). Loans are interest free and repayable on demand.