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Registered number: 04919263
Central Discount Carpets Limited
Financial Statements
For The Year Ended 31 May 2025
Oakensen (Bristol) Limited
Chartered Accountants
Westbury Court Church Road
Westbury-on-Trym
Bristol
BS9 3EF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04919263
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 455 606
455 606
CURRENT ASSETS
Stocks 6 11,744 9,221
Debtors 7 11,310 16,981
Cash at bank and in hand 10,441 5,810
33,495 32,012
Creditors: Amounts Falling Due Within One Year 8 (29,320 ) (27,052 )
NET CURRENT ASSETS (LIABILITIES) 4,175 4,960
TOTAL ASSETS LESS CURRENT LIABILITIES 4,630 5,566
Creditors: Amounts Falling Due After More Than One Year 9 (591 ) (3,843 )
NET ASSETS 4,039 1,723
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 3,939 1,623
SHAREHOLDERS' FUNDS 4,039 1,723
Page 1
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For the year ending 31 May 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
C Old
Director
6 August 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Central Discount Carpets Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04919263 . The registered office is Westbury Court, Church Road, Westbury-on-Trym, Bristol, BS9 3EF.
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:
Motor Vehicles 25% Straight Line
Fixtures & Fittings 20% Straight Line
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. 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.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable 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.
Current 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 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: 2 (2024: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2024 60,000
As at 31 May 2025 60,000
Amortisation
As at 1 June 2024 60,000
As at 31 May 2025 60,000
Net Book Value
As at 31 May 2025 -
As at 1 June 2024 -
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2024 55,050 2,151 57,201
Disposals (10,813 ) - (10,813 )
As at 31 May 2025 44,237 2,151 46,388
Depreciation
As at 1 June 2024 55,050 1,545 56,595
Provided during the period - 151 151
Disposals (10,813 ) - (10,813 )
As at 31 May 2025 44,237 1,696 45,933
...CONTINUED
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Net Book Value
As at 31 May 2025 - 455 455
As at 1 June 2024 - 606 606
6. Stocks
2025 2024
£ £
Materials 11,744 9,221
7. Debtors
2025 2024
£ £
Due within one year
Other debtors 11,310 16,981
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 3,847 8,460
Other creditors 2,250 1,980
Taxation and social security 23,223 16,612
29,320 27,052
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts - 3,843
Other creditors 591 -
591 3,843
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,847 8,460
Later than one year and not later than five years - 3,843
3,847 12,303
3,847 12,303
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11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
Page 6