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REGISTERED NUMBER: 01656165 (England and Wales)











Floorwise D & J Ltd

Financial Statements

for the Year Ended 31 August 2024






Floorwise D & J Ltd (Registered number: 01656165)

Contents of the Financial Statements
for the Year Ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Floorwise D & J Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTORS: S J Cobley
D N Cobley





REGISTERED OFFICE: Unit 2 Kineton Road Industrial Estate
Southam
Warwickshire
CV47 0DR





REGISTERED NUMBER: 01656165 (England and Wales)





AUDITORS: TC Group
Statutory Auditor
Sterling House
97 Lichfield Street
Tamworth
Staffordshire
B79 7QF

Floorwise D & J Ltd (Registered number: 01656165)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 133,589 174,638

CURRENT ASSETS
Stocks 199,460 212,424
Debtors 5 495,543 550,735
Investments 6 963,087 -
Cash at bank and in hand 572,326 1,304,572
2,230,416 2,067,731
CREDITORS
Amounts falling due within one year 7 301,492 315,674
NET CURRENT ASSETS 1,928,924 1,752,057
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,062,513

1,926,695

PROVISIONS FOR LIABILITIES 27,323 37,197
NET ASSETS 2,035,190 1,889,498

CAPITAL AND RESERVES
Called up share capital 9 5,000 5,000
Retained earnings 2,030,190 1,884,498
SHAREHOLDERS' FUNDS 2,035,190 1,889,498

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 23 May 2025 and were signed on its behalf by:





S J Cobley - Director


Floorwise D & J Ltd (Registered number: 01656165)

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


1. STATUTORY INFORMATION

Floorwise D & J Ltd 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.

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.

Significant judgements and estimates
The company makes estimates and assumptions concerning the future. Management are also required to exercise judgement in the process of applying the company's accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company either as a lessor or a lessee are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis based on an evaluation of the terms and conditions of the arrangements, and accordingly whether the lease requires an asset and liability to be recognised in the statement of financial position.

- A provision is recognised when the company has a present legal or constructive obligation as a result of a past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. If the effect is material, provisions are determined by discounting the expected future cash flow at a rate that reflects the time value of money and the risks specific to the liability.

- Whether a present obligation is probable or not requires judgement. The nature and type of risks for these provisions differ and management's judgement is applied regarding the nature and extent of obligations in deciding if an outflow of resources is probable or not.

- Sales ledger debt provisions. Management review debts on a case by case basis to highlight deviation from terms and therefore possible provision requirement.

- Depreciation and residual values. Management have reviewed the asset lives and associated residual values of all fixed asset classes and concluded that they are appropriate.

- Stock provisions. Management review the ageing profile as well as individual stock lines for any evidence of slow moving/obsolescence. Provisions are then made based upon management's analysis and market knowledge.

The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projects disposal values.

Turnover
Income from the distribution of floorcovering equipment and accessories is recognised at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Floorwise D & J Ltd (Registered number: 01656165)

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


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Land and buildings leaseholdStraight line over the period of the lease
Plant and machinery10-25% straight line
Fixtures, fittings and equipment25% straight line
Motor vehicles25% straight line

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

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Floorwise D & J Ltd (Registered number: 01656165)

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


2. ACCOUNTING POLICIES - continued

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.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

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.

Current investments
Investments are stated at their fair value at the balance sheet date, where they can be measured reliably, with changes in fair value recognised in the the profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2023 12,307 414,797 427,104
Additions - 38,641 38,641
At 31 August 2024 12,307 453,438 465,745
DEPRECIATION
At 1 September 2023 12,307 240,159 252,466
Charge for year - 79,690 79,690
At 31 August 2024 12,307 319,849 332,156
NET BOOK VALUE
At 31 August 2024 - 133,589 133,589
At 31 August 2023 - 174,638 174,638


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 419,129 469,383
Other debtors 76,414 81,352
495,543 550,735

Floorwise D & J Ltd (Registered number: 01656165)

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


6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Other 963,087 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 105,910 124,502
Taxation and social security 137,531 142,556
Other creditors 58,051 48,616
301,492 315,674

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 61,001 61,001
Between one and five years 60,000 31,001
121,001 92,002

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
5,000 Ordinary £1 5,000 5,000

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Darren Barlow FCCA (Senior Statutory Auditor)
for and on behalf of TC Group (Statutory Auditor)

11. CONTINGENT LIABILITIES

The directors are not aware of any contingent liabilities at the balance sheet date.

12. ULTIMATE CONTROLLING PARTY

The company is under the effective control of Mr D Cobley and Mr S Cobley.