REGISTERED NUMBER: 04611464 (England and Wales)

B & J CARPETS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M Johns

SECRETARY:

Mrs T Johns

REGISTERED OFFICE:

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

REGISTERED NUMBER:

04611464 (England and Wales)

ACCOUNTANTS:

ApC

Chartered Accountants

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

BANKERS:

Natwest

9 Church Street

Mansfield

Nottinghamshire

NG18 1HP

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

104,301

90,949

104,301

90,949

CURRENT ASSETS

Stocks

93,629

94,044

Debtors

7

7,180

7,690

Cash at bank

102,583

129,740

203,392

231,474

CREDITORS

Amounts falling due within one year

8

225,011

221,494

NET CURRENT (LIABILITIES)/ASSETS

(21,619

)

9,980

TOTAL ASSETS LESS CURRENT LIABILITIES

82,682

100,929

PROVISIONS FOR LIABILITIES

19,817

17,280

NET ASSETS

62,865

83,649

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

62,765

83,549

SHAREHOLDERS' FUNDS

62,865

83,649

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 April 2025 and were signed by:

Mr M Johns - Director

1.	STATUTORY INFORMATION

B & J 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In relation to goodwill on acquisition of the business in 2003, the company has carried out a review as part of its transition to FRS102 1A of the intangible assets and has decided to allocate the assets to Intellectual Property and Branding and Goodwill being split as one third to two thirds. This is in relation to the directors' belief that the future cash flows of the Intellectual Property and Branding justifies this basis and has a 20 year useful life in respect of income streams.

Turnover

Turnover represents the value excluding Value Added Tax, of carpet and flooring goods supplied and fitted to customers during the year. In respect of services supplied to customers, all income is taken to the profit and loss at the same point as the right to receive the consideration is acquired.

Goodwill

Goodwill being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over 10 years over its estimated useful life from the date of transition of 1 February 2015 to FRS102 1A. Prior to transition goodwill was being amortised over the estimated useful life of 20 years.

Intangible assets

Intellectual Property and Branding is in connection to the acquisition of a business in 2003 and is amortised over 20 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33.33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Financial instruments

Financial instruments and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

5.	INTANGIBLE FIXED ASSETS

IP &

Goodwill

Branding

Totals

£

£

£

COST

At 1 February 2024

200,000

100,000

300,000

Disposals of fully written off asset

(200,000

)

(100,000

)

(300,000

)

At 31 January 2025

-

-

-

AMORTISATION

At 1 February 2024

200,000

100,000

300,000

Eliminated on disposal

(200,000

)

(100,000

)

(300,000

)

At 31 January 2025

-

-

-

NET BOOK VALUE

At 31 January 2025

-

-

-

At 31 January 2024

-

-

-

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 February 2024

13,330

85,813

198,801

10,719

308,663

Additions

27,006

-

101,827

-

128,833

Disposals

-

-

(126,993

)

-

(126,993

)

At 31 January 2025

40,336

85,813

173,635

10,719

310,503

DEPRECIATION

At 1 February 2024

12,863

60,832

135,707

8,312

217,714

Charge for year

6,871

3,750

20,288

803

31,712

Eliminated on disposal

-

-

(43,224

)

-

(43,224

)

At 31 January 2025

19,734

64,582

112,771

9,115

206,202

NET BOOK VALUE

At 31 January 2025

20,602

21,231

60,864

1,604

104,301

At 31 January 2024

467

24,981

63,094

2,407

90,949

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Prepayments and accrued income

7,180

7,690

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

17,968

-

Corporation tax

-

4,683

Social security and other taxes

1,970

1,909

CT61 Tax

167

167

VAT

12,461

10,703

Directors' current accounts

182,951

195,403

Accruals and deferred income

9,494

8,629

225,011

221,494

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary Shares

£1

100

100

10.	RELATED PARTY DISCLOSURES

Key management personnel remuneration in the year totalled £21,372.90 (2024: £21,008).