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Registration number: 08853063

Stretford Carpet Centre Limited

Unaudited Financial Statements

for the Year Ended 30 March 2025

 

Stretford Carpet Centre Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 7

 

Stretford Carpet Centre Limited

(Registration number: 08853063)
Statement of Financial Position as at 30 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

18,677

1,008

Current assets

 

Stocks

5

875

1,200

Debtors

6

9,712

13,055

Cash at bank and in hand

 

1,226

3,177

 

11,813

17,432

Creditors: Amounts falling due within one year

7

(13,276)

(15,201)

Net current (liabilities)/assets

 

(1,463)

2,231

Total assets less current liabilities

 

17,214

3,239

Creditors: Amounts falling due after more than one year

7

(13,400)

(3,126)

Provisions for liabilities

(3,549)

-

Net assets

 

265

113

Capital and reserves

 

Called up share capital

100

100

Retained earnings

165

13

Shareholders' funds

 

265

113

For the financial year ending 30 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 and 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 30 May 2025
 

.........................................
M J Bird
Director

 

Stretford Carpet Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 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:
C/o Beever and Struthers
One Express
1 George Leigh Street
Manchester
M4 5DL
England

These financial statements were authorised for issue by the director on 30 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' 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.

Going concern

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

At the balance sheet date, the company's current liabilities exceeded its current assets. The company has received assurances from the director that he will continue to give financial support to the company for the foreseeable future and for a period not less than 12 months from the date of approval of these financial statements.

On this basis, the director considers it appropriate to prepare the accounts on the going concern basis. However, should the financial support mentioned above not be forthcoming the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be be necessary should this basis not continue to be appropriate.

 

Stretford Carpet Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2025

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.

Government grants

Government grants receivable are released to the profit and loss account on the accruals basis.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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

Equipment

20% reducing balance

Motor vehicles

25% reducing balance

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.

 

Stretford Carpet Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 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.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

 

Stretford Carpet Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2025

4

Tangible assets

Equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 31 March 2024

674

7,117

7,791

Additions

477

20,855

21,332

Disposals

-

(7,117)

(7,117)

At 30 March 2025

1,151

20,855

22,006

Depreciation

At 31 March 2024

674

6,109

6,783

Charge for the year

48

2,607

2,655

Eliminated on disposal

-

(6,109)

(6,109)

At 30 March 2025

722

2,607

3,329

Carrying amount

At 30 March 2025

429

18,248

18,677

At 30 March 2024

-

1,008

1,008

5

Stocks

2025
£

2024
£

Finished goods and goods for resale

875

1,200

6

Debtors

2025
£

2024
£

Trade debtors

1,714

3,200

Other debtors

7,717

9,591

Prepayments

281

264

9,712

13,055

 

Stretford Carpet Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

5,377

3,066

Trade creditors

 

2,398

3,469

Taxation and social security

 

3,611

6,866

Other creditors

 

1,890

1,800

 

13,276

15,201


Loans and borrowings include hire purchase contracts of £2,871 (2024: £Nil) which are secured on the assets of the company.

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

13,400

3,126


Loans and borrowings include hire purchase contracts of £12,775 (2024: £Nil) which are secured on the assets of the company.

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

625

3,126

Hire purchase contracts

12,775

-

13,400

3,126

Current loans and borrowings

2025
£

2024
£

Bank borrowings

2,506

3,066

Hire purchase contracts

2,871

-

5,377

3,066

 

Stretford Carpet Centre Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2025

9

Related party transactions

Transactions with the director

2025

At 31 March 2024
£

Repayments by director
£

At 30 March 2025
£

M J Bird

Payable on demand

9,015

(8,198)

817

2024

At 31 March 2023
£

Repayments by director
£

At 30 March 2024
£

M J Bird

Payable on demand

21,231

(12,216)

9,015