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Registration number: 01360197

Jackson Carpets Limited

trading as Jackson (Carpets) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Jackson Carpets Limited

 

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Jackson Carpets Limited

 

Company Information

Director

Mr Stephen Jackson

Registered office

1 Lower Lane
Chinley
High Peak
Derbyshire
SK23 6BE

Accountants

Bright Partnership Limited
Unit 26 Edward Court
Broadheath
Altrincham
England
WA14 5GL

 

Jackson Carpets Limited

 

(Registration number: 01360197)
Statement of Financial Position as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

118,025

120,153

Current assets

 

Stocks

4,000

7,692

Debtors

5

293

2,568

Cash at bank and in hand

 

15,987

-

 

20,280

10,260

Creditors: Amounts falling due within one year

6

(87,109)

(52,108)

Net current liabilities

 

(66,829)

(41,848)

Net assets

 

51,196

78,305

Capital and reserves

 

Called up share capital

7

258

258

Retained earnings

50,938

78,047

Shareholders' funds

 

51,196

78,305

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 May 2025
 

 

Jackson Carpets Limited

 

(Registration number: 01360197)
Statement of Financial Position as at 31 March 2025

.........................................
Mr Stephen Jackson
Director

 

Jackson Carpets Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Lower Lane
Chinley
High Peak
Derbyshire
SK23 6BE

These financial statements were authorised for issue by the director on 29 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Jackson Carpets Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

No Depreciation

Plant and machinery

15% RBM

Furniture and fixture

15% RBM

Motor vehicle

25% RBM

Computer equipment

25% RBM

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Jackson Carpets Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Jackson Carpets Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2024 - 3).

 

Jackson Carpets Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 April 2024

110,000

37,837

1,525

4,763

38,176

At 31 March 2025

110,000

37,837

1,525

4,763

38,176

Depreciation

At 1 April 2024

-

33,842

1,413

4,549

32,344

Charge for the year

-

599

17

54

1,458

At 31 March 2025

-

34,441

1,430

4,603

33,802

Carrying amount

At 31 March 2025

110,000

3,396

95

160

4,374

At 31 March 2024

110,000

3,995

112

214

5,832

Total
£

Cost or valuation

At 1 April 2024

192,301

At 31 March 2025

192,301

Depreciation

At 1 April 2024

72,148

Charge for the year

2,128

At 31 March 2025

74,276

Carrying amount

At 31 March 2025

118,025

At 31 March 2024

120,153

5

Debtors

 

Jackson Carpets Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Current

2025
£

2024
£

Prepayments

293

366

Other debtors

-

2,202

 

293

2,568

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

-

4,598

Trade creditors

 

10,640

8,618

Taxation and social security

 

10,051

3,449

Accruals and deferred income

 

2,750

2,600

Other creditors

 

63,668

32,843

 

87,109

52,108

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary Share of £1 each

100

100

100

100

Ordinary Share- A of £1 each

58

58

58

58

Ordinary Share- B of £1 each

100

100

100

100

258

258

258

258

8

Related party transactions

 

Jackson Carpets Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Transactions with the director

2025

At 1 April 2024
£

At 31 March 2025
£

Mr Stephen Jackson

Transactions during the year

30,205

30,205

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Mr Stephen Jackson

Transactions during the year

1,698

(6,493)

35,000

30,205