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Registered number: 09526372
Twenty 12 Flooring.Com Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
AP Accounting Solutions Limited
The Mill House
Erw Hir
Llantrisant
Pontyclun
CF72 8BY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09526372
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,472 1,063
6,472 1,063
CURRENT ASSETS
Stocks 5 4,320 5,125
Debtors 6 4,272 4,313
Cash at bank and in hand 149,573 102,186
158,165 111,624
Creditors: Amounts Falling Due Within One Year 7 (48,365 ) (44,312 )
NET CURRENT ASSETS (LIABILITIES) 109,800 67,312
TOTAL ASSETS LESS CURRENT LIABILITIES 116,272 68,375
Creditors: Amounts Falling Due After More Than One Year 8 (1,119 ) -
NET ASSETS 115,153 68,375
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 115,053 68,275
SHAREHOLDERS' FUNDS 115,153 68,375
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Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Michelle Wall
Director
08/06/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Twenty 12 Flooring.Com Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09526372 . The registered office is 193 Barry Road, Barry, Vale of Glamorgan, CF62 9BG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 15% straight line
Computer Equipment 25% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2025 2024
Office and administration 1 1
Sales, marketing and distribution 2 1
3 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2024 1,097 30,840 297 3,981 36,215
Additions 348 7,490 - - 7,838
As at 31 March 2025 1,445 38,330 297 3,981 44,053
Depreciation
As at 1 April 2024 618 30,839 223 3,472 35,152
Provided during the period 217 1,873 45 294 2,429
As at 31 March 2025 835 32,712 268 3,766 37,581
Net Book Value
As at 31 March 2025 610 5,618 29 215 6,472
As at 1 April 2024 479 1 74 509 1,063
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
5. Stocks
2025 2024
£ £
Materials 4,320 5,125
6. Debtors
2025 2024
£ £
Due within one year
Prepayments and accrued income 1,243 576
Work in progress 3,029 3,737
4,272 4,313
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 948 1
Bank loans and overdrafts 5,000 11,220
Corporation tax 10,393 2,477
Other taxes and social security 950 459
VAT 8,240 2,532
Pension Creditor 207 74
Directors' loan accounts 22,627 27,549
48,365 44,312
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 1,119 -
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within creditor are the following loans to directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mrs Michelle Wall (27,549 ) 33,773 (28,850 ) - (22,627 )
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
2025 2024
£ £
Mr Christopher Wall 500 1,000
Mrs Michelle Wall 500 1,000
11. Ultimate Controlling Party
The company's ultimate controlling party is the directors by virtue of his ownership of 100% of the issued share capital in the company.
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