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REGISTERED NUMBER: 07783670 (England and Wales)















Horwich Carpets Limited

Unaudited Financial Statements for the Year Ended 31 December 2024






Horwich Carpets Limited (Registered number: 07783670)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Horwich Carpets Limited

Company Information
for the Year Ended 31 December 2024







Directors: Russell Davies
Richard Anthony Davies
Jean Margaret Davies





Registered office: 296-304 Chorley New Road
Horwich
Bolton
Greater Manchester
BL6 5NY





Registered number: 07783670 (England and Wales)





Accountants: Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
Greater Manchester
BL6 7BY

Horwich Carpets Limited (Registered number: 07783670)

Statement of Financial Position
31 December 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 100,000 100,000
Tangible assets 5 62,333 51,164
162,333 151,164

Current assets
Stocks 20,000 20,000
Debtors 6 61,184 36,275
Cash at bank and in hand 6,076 9,945
87,260 66,220
Creditors
Amounts falling due within one year 7 209,926 182,968
Net current liabilities (122,666 ) (116,748 )
Total assets less current liabilities 39,667 34,416

Creditors
Amounts falling due after more than one
year

8

(23,477

)

(23,400

)

Provisions for liabilities 10 (16,518 ) (12,791 )
Net liabilities (328 ) (1,775 )

Horwich Carpets Limited (Registered number: 07783670)

Statement of Financial Position - continued
31 December 2024

2024 2023
Notes £    £    £    £   
Capital and reserves
Called up share capital 11 100 100
Retained earnings (428 ) (1,875 )
Shareholders' funds (328 ) (1,775 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 July 2025 and were signed on its behalf by:





Russell Davies - Director


Horwich Carpets Limited (Registered number: 07783670)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. Statutory information

Horwich Carpets Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Goodwill
Amortisation of goodwill has not been provided for by the company as in the opinion of the directors it has an indefinite useful economic life. The accounting policy departs from the usual requirements of the FRS 102 to amortise goodwill over a finite period. The effects of the departure is that amortisation as required by the requirements of FRS 102 has not been accounted for. If amortisation had been accounted for, the charge for the year would have amounted to £10,000 and the profit for the year reduced accordingly.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks
Stock is measured at estimated cost.

Horwich Carpets Limited (Registered number: 07783670)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. Accounting policies - continued

Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 10 (2023 - 11 ) .

Horwich Carpets Limited (Registered number: 07783670)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 January 2024
and 31 December 2024 100,000
Net book value
At 31 December 2024 100,000
At 31 December 2023 100,000

5. Tangible fixed assets
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 January 2024 6,307 39,790 51,967 4,446 102,510
Additions - - 27,775 - 27,775
Disposals - - (22,250 ) - (22,250 )
At 31 December 2024 6,307 39,790 57,492 4,446 108,035
Depreciation
At 1 January 2024 1,731 5,235 41,769 2,611 51,346
Charge for year 915 6,911 4,948 367 13,141
Eliminated on disposal - - (18,785 ) - (18,785 )
At 31 December 2024 2,646 12,146 27,932 2,978 45,702
Net book value
At 31 December 2024 3,661 27,644 29,560 1,468 62,333
At 31 December 2023 4,576 34,555 10,198 1,835 51,164

Horwich Carpets Limited (Registered number: 07783670)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Cost
At 1 January 2024 21,600 - 21,600
Additions - 27,775 27,775
At 31 December 2024 21,600 27,775 49,375
Depreciation
At 1 January 2024 1,800 - 1,800
Charge for year 3,960 2,893 6,853
At 31 December 2024 5,760 2,893 8,653
Net book value
At 31 December 2024 15,840 24,882 40,722
At 31 December 2023 19,800 - 19,800

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 34,267 6,837
Other debtors 26,917 29,438
61,184 36,275

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loan 14,237 6,000
Hire purchase contracts (see note 9) 10,745 8,086
Trade creditors 69,258 84,736
Amounts owed to associates 6,356 7,356
Taxation and social security 46,111 34,603
Other creditors 63,219 42,187
209,926 182,968

Horwich Carpets Limited (Registered number: 07783670)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loan 3,000 9,000
Hire purchase contracts (see note 9) 20,477 14,400
23,477 23,400

9. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase
contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 10,745 8,086
Between one and five years 20,477 14,400
31,222 22,486

Non-cancellable
operating leases
2024 2023
£    £   
Within one year 11,140 4,431
Between one and five years 12,815 1,392
23,955 5,823

10. Provisions for liabilities
2024 2023
£    £   
Deferred tax 16,518 12,791

Deferred
tax
£   
Balance at 1 January 2024 12,791
Provided during year 3,727
Balance at 31 December 2024 16,518

Horwich Carpets Limited (Registered number: 07783670)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

12. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
Richard Anthony Davies
Balance outstanding at start of year (352 ) (5,035 )
Amounts advanced 34,285 33,683
Amounts repaid (20,805 ) (29,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,128 (352 )