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Registration number: 01953675

Associated Carpet Group Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

Associated Carpet Group Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Associated Carpet Group Limited

Company Information

Directors

T D Witts

A S Pohill

M R Sutton

C S Hall

Mrs L E Bellamy

G S Tyler

Company secretary

C S Hall

Registered office

ACG House
4 Beecham Court
Smithy Brook Road
Pemberton Business Park
WN3 6PR

Accountants

Matravers & Co Accountants & Business Advisers
Bridgewater House
Century Park, Caspian Road
Altrincham
Cheshire
WA14 5HH

 

Associated Carpet Group Limited

(Registration number: 01953675)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

221,333

224,497

Current assets

 

Debtors

5

205,423

234,951

Cash at bank and in hand

 

1,795,859

1,498,752

 

2,001,282

1,733,703

Creditors: Amounts falling due within one year

6

(563,303)

(437,320)

Net current assets

 

1,437,979

1,296,383

Net assets

 

1,659,312

1,520,880

Reserves

 

Retained earnings

1,659,312

1,520,880

Surplus

 

1,659,312

1,520,880

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 August 2025 and signed on its behalf by:
 

.........................................
T D Witts
Director

.........................................
M R Sutton
Director

 

Associated Carpet Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.

The address of its registered office is:
ACG House
4 Beecham Court
Smithy Brook Road
Pemberton Business Park
WN3 6PR

These financial statements were authorised for issue by the Board on 7 August 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.

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.

Tax

The tax expense for the period comprises current 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.

 

Associated Carpet Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Tangible assets

Tangible assets are stated in the balance sheet 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

Freehold property

No charge as residual value exceeds cost

Fittings fixtures and equipment

15% reducing balance

Computer equipment

33.33% straight line

Motor Vehicle

25% straight line

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Associated Carpet Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2024 - 10).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2024

176,841

82,390

42,954

302,185

Additions

-

1,955

-

1,955

At 28 February 2025

176,841

84,345

42,954

304,140

Depreciation

At 1 March 2024

-

74,466

3,222

77,688

Charge for the year

-

1,897

3,222

5,119

At 28 February 2025

-

76,363

6,444

82,807

Carrying amount

At 28 February 2025

176,841

7,982

36,510

221,333

At 29 February 2024

176,841

7,924

39,732

224,497

Included within the net book value of land and buildings above is £176,841 (2024 - £176,841) in respect of freehold land and buildings.
 

5

Debtors

Current

2025
£

2024
£

Trade debtors

73,083

156,614

Prepayments

85,712

29,473

Other debtors

46,628

48,864

 

205,423

234,951

 

Associated Carpet Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

6

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

62,900

21,342

Taxation and social security

61,664

130,179

Accruals and deferred income

160,809

154,901

Other creditors

277,930

130,898

563,303

437,320

7

Related party transactions

The company is limited by Guarantee and does not have a controlling party.

 

Associated Carpet Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Directors' remuneration

The directors' remuneration for the year was as follows:

2025
£

2024
£

Remuneration

36,000

34,820