IRIS Accounts Production v25.1.3.33 NI018227 Board of Directors 1.9.23 31.8.24 31.8.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI0182272023-08-31NI0182272024-08-31NI0182272023-09-012024-08-31NI0182272022-08-31NI0182272022-09-012023-08-31NI0182272023-08-31NI018227ns15:NorthernIreland2023-09-012024-08-31NI018227ns14:PoundSterling2023-09-012024-08-31NI018227ns10:Director12023-09-012024-08-31NI018227ns10:PrivateLimitedCompanyLtd2023-09-012024-08-31NI018227ns10:SmallEntities2023-09-012024-08-31NI018227ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-31NI018227ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-31NI018227ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-31NI018227ns10:FullAccounts2023-09-012024-08-31NI018227ns10:Director22023-09-012024-08-31NI018227ns10:Director32023-09-012024-08-31NI018227ns10:Director42023-09-012024-08-31NI018227ns10:CompanySecretary12023-09-012024-08-31NI018227ns10:RegisteredOffice2023-09-012024-08-31NI018227ns5:CurrentFinancialInstruments2024-08-31NI018227ns5:CurrentFinancialInstruments2023-08-31NI018227ns5:Non-currentFinancialInstruments2024-08-31NI018227ns5:Non-currentFinancialInstruments2023-08-31NI018227ns5:ShareCapital2024-08-31NI018227ns5:ShareCapital2023-08-31NI018227ns5:RetainedEarningsAccumulatedLosses2024-08-31NI018227ns5:RetainedEarningsAccumulatedLosses2023-08-31NI018227ns5:LandBuildings2023-09-012024-08-31NI018227ns5:PlantMachinery2023-09-012024-08-31NI018227ns5:LandBuildings2023-08-31NI018227ns5:PlantMachinery2023-08-31NI018227ns5:LandBuildings2024-08-31NI018227ns5:PlantMachinery2024-08-31NI018227ns5:LandBuildings2023-08-31NI018227ns5:PlantMachinery2023-08-31NI018227ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-31NI018227ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-31
REGISTERED NUMBER: NI018227 (Northern Ireland)














Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Carpetworld (N.I.) Limited

Carpetworld (N.I.) Limited (Registered number: NI018227)

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


Carpetworld (N.I.) Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mr J G Kieran
Mrs G Kieran
Mr A J Kieran
Mrs M Kieran





SECRETARY: Mr J G Kieran





REGISTERED OFFICE: Unit 6 D.c. Silencers Complex
Kennedy Way
Belfast
BT11 9AP





REGISTERED NUMBER: NI018227 (Northern Ireland)





ACCOUNTANTS: M.B.McGrady & Co
Chartered Accountants
Suite 2B
Cadogan House
322 Lisburn Road
Belfast
Co. Antrim
BT9 6GH

Carpetworld (N.I.) Limited (Registered number: NI018227)

Balance Sheet
31 August 2024

31/8/24 31/8/23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 17,651 29,329

CURRENT ASSETS
Stocks 184,253 169,631
Debtors 5 121,847 165,382
Cash at bank 74,331 131,634
380,431 466,647
CREDITORS
Amounts falling due within one year 6 381,710 425,523
NET CURRENT (LIABILITIES)/ASSETS (1,279 ) 41,124
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,372

70,453

CREDITORS
Amounts falling due after more than one
year

7

(17,503

)

(34,214

)

PROVISIONS FOR LIABILITIES (4,413 ) (7,332 )
NET (LIABILITIES)/ASSETS (5,544 ) 28,907

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (5,546 ) 28,905
(5,544 ) 28,907

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.

Carpetworld (N.I.) Limited (Registered number: NI018227)

Balance Sheet - 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 May 2025 and were signed on its behalf by:





Mr A J Kieran - Director


Carpetworld (N.I.) Limited (Registered number: NI018227)

Notes to the Financial Statements
for the Year Ended 31 August 2024


1. STATUTORY INFORMATION

Carpetworld (N.I.) Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

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, excluding discounts, rebates, value added tax and other sales taxes.

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 - 15% on cost and not provided
Plant and machinery etc - 25% on cost and 15% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Carpetworld (N.I.) Limited (Registered number: NI018227)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 52,960 156,686 209,646
DEPRECIATION
At 1 September 2023 52,960 127,357 180,317
Charge for year - 11,678 11,678
At 31 August 2024 52,960 139,035 191,995
NET BOOK VALUE
At 31 August 2024 - 17,651 17,651
At 31 August 2023 - 29,329 29,329

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Trade debtors 97,208 62,405
Amounts recoverable on contract 19,212 96,687
Other debtors 5,427 6,290
121,847 165,382

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Bank loans and overdrafts 10,310 10,056
Hire purchase contracts 6,400 6,400
Trade creditors 214,832 258,008
Taxation and social security 61,285 66,308
Other creditors 88,883 84,751
381,710 425,523

Carpetworld (N.I.) Limited (Registered number: NI018227)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/8/24 31/8/23
£    £   
Bank loans 7,903 18,214
Hire purchase contracts 9,600 16,000
17,503 34,214

8. RELATED PARTY DISCLOSURES

The company rents premises at Kennedy Way, Belfast which are owned by John & Margaret Kieran. Rent paid by the company to John & Margaret Kieran amounted to £NIL (2023- £25,200). At the balance sheet date the amount owed to John & Margaret Kieran was £29,943 (2023- £30,121).

The company rents premises at Saintfield Road, Belfast. These premises were owned entirely by Anthony and Geraldine Kieran up to 1 April 2023. There was a transfer of 50% to Connor & James Kieran, their sons at this date, with the remaining share of the premises transferred on 1 April 2024. Rent paid by the company in the year amounted to £24,000 (2023- £24,000). At the balance sheet date the amount owed to Anthony and Geraldine Kieran was £5,300 (2023- £5,300).