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REGISTERED NUMBER: 05754913 (England and Wales)















EAST COAST CARPETS (LINCS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025






EAST COAST CARPETS (LINCS) LIMITED (REGISTERED NUMBER: 05754913)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


EAST COAST CARPETS (LINCS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTORS: G Barker
D Barton





REGISTERED OFFICE: Unit 1
Tattershall Park
Tattershall Way
Louth
Lincolnshire
LN11 0YZ





REGISTERED NUMBER: 05754913 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
Oxley House
Lincoln Way
Louth
Lincolnshire
LN11 0LS

EAST COAST CARPETS (LINCS) LIMITED (REGISTERED NUMBER: 05754913)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,348 13,893

CURRENT ASSETS
Stocks 24,376 23,215
Debtors 5 5,308 12,629
Cash at bank and in hand 11,221 24,710
40,905 60,554
CREDITORS
Amounts falling due within one year 6 46,638 33,751
NET CURRENT (LIABILITIES)/ASSETS (5,733 ) 26,803
TOTAL ASSETS LESS CURRENT LIABILITIES 10,615 40,696

CREDITORS
Amounts falling due after more than one year 7 (2,331 ) (10,678 )

PROVISIONS FOR LIABILITIES (1,206 ) (2,639 )
NET ASSETS 7,078 27,379

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 7,076 27,377
SHAREHOLDERS' FUNDS 7,078 27,379

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 and authorised for issue by the Board of Directors and authorised for issue on 12 August 2025 and were signed on its behalf by:




G Barker - Director


EAST COAST CARPETS (LINCS) LIMITED (REGISTERED NUMBER: 05754913)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1. STATUTORY INFORMATION

East Coast Carpets (Lincs) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 12.5% on cost
Equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


EAST COAST CARPETS (LINCS) LIMITED (REGISTERED NUMBER: 05754913)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES - continued
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.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Government grants
Grants are recognised as income in the period in which they become receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Motor Computer
property Equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2024 5,901 18,042 77,393 3,466 104,802
Additions - - 6,100 - 6,100
Disposals - - (61,794 ) - (61,794 )
At 31 March 2025 5,901 18,042 21,699 3,466 49,108
DEPRECIATION
At 1 April 2024 5,777 15,513 66,820 2,799 90,909
Charge for year 63 377 1,282 93 1,815
Eliminated on disposal - - (59,964 ) - (59,964 )
At 31 March 2025 5,840 15,890 8,138 2,892 32,760
NET BOOK VALUE
At 31 March 2025 61 2,152 13,561 574 16,348
At 31 March 2024 124 2,529 10,573 667 13,893


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 2,181 1,894
Other debtors 3,127 10,735
5,308 12,629

EAST COAST CARPETS (LINCS) LIMITED (REGISTERED NUMBER: 05754913)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 8,145 7,943
Trade creditors 21,811 14,059
Taxation and social security 7,412 7,872
Other creditors 9,270 3,877
46,638 33,751

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans 2,331 10,678

8. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Bank loans 10,476 18,621

The bank loans are secured by a debenture to HSBC Bank plc.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
2 Ordinary £1 2 2

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025 2024
£    £   
G Barker
Balance outstanding at start of year 8,513 8,914
Amounts advanced 15,474 12,676
Amounts repaid (27,757 ) (13,077 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,770 ) 8,513

The directors loan account is unsecured, repayable on demand and interest free. The balance has been repaid within 9 months in the form of a dividend.