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Registered number: 07902276
Mark Stebbing Carpets & Flooring Limited
Unaudited Financial Statements
For The Year Ended 31 January 2025
Advoco (SW) Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07902276
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 104,283 83,588
104,283 83,588
CURRENT ASSETS
Debtors 5 219,330 209,353
Cash at bank and in hand 113,208 107,888
332,538 317,241
Creditors: Amounts Falling Due Within One Year 6 (225,135 ) (211,803 )
NET CURRENT ASSETS (LIABILITIES) 107,403 105,438
TOTAL ASSETS LESS CURRENT LIABILITIES 211,686 189,026
Creditors: Amounts Falling Due After More Than One Year 7 (24,628 ) (18,844 )
NET ASSETS 187,058 170,182
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 186,958 170,082
SHAREHOLDERS' FUNDS 187,058 170,182
Page 1
Page 2
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Mr Mark Stebbing
Director
14 July 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mark Stebbing Carpets & Flooring Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07902276 . The registered office is Unit 11 Granby Court, Surrey Close, Weymouth, Dorset, DT4 9XB.
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 measured at cost less accumulated depreciation and any accumulated impairment losses. 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 15% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 33% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
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 years 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 assets reflect 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.
...CONTINUED
Page 3
Page 4
2.5. Taxation - continued
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2024: 8)
8 8
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2024 106,574 24,344 7,422 138,340
Additions 37,150 - - 37,150
As at 31 January 2025 143,724 24,344 7,422 175,490
Depreciation
As at 1 February 2024 37,618 12,060 5,074 54,752
Provided during the period 13,303 1,843 1,309 16,455
As at 31 January 2025 50,921 13,903 6,383 71,207
Net Book Value
As at 31 January 2025 92,803 10,441 1,039 104,283
As at 1 February 2024 68,956 12,284 2,348 83,588
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 143,028 147,193
Prepayments and accrued income 10,448 6,458
Other debtors 65,854 55,702
219,330 209,353
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 8,517 8,460
Trade creditors 74,205 65,170
Corporation tax liability 8,487 16,705
Social security and other tax 2,078 1,910
VAT 21,329 18,069
Pension Liability 424 478
Accrued expenses 4,341 4,427
Director's loan account 105,754 96,584
225,135 211,803
Page 4
Page 5
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 24,628 18,844
8. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 8,517 8,460
Later than one year and not later than five years 24,628 18,844
33,145 27,304
33,145 27,304
9. Share Capital
2025 2024
Allotted, called up but not fully paid £ £
95 Ordinary A Shares of £ 1.00 each 95 95
5 Ordinary B Shares of £ 1.00 each 5 5
100 100
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