REGISTERED NUMBER: 08778598 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

LEIGH BROS FLOORING LIMITED

Page

Statement of Financial Position

1

to

2

Notes to the Financial Statements

3

to

8

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

98,230

33,263

98,230

33,263

CURRENT ASSETS

Inventories

11,000

16,000

Debtors

6

205,961

106,206

Cash at bank and in hand

11,249

1,221

228,210

123,427

CREDITORS

Amounts falling due within one year

7

(184,222

)

(162,615

)

NET CURRENT ASSETS/(LIABILITIES)

43,988

(39,188

)

TOTAL ASSETS LESS CURRENT LIABILITIES

142,218

(5,925

)

CREDITORS

Amounts falling due after more than one year

8

(98,631

)

(25,701

)

PROVISIONS FOR LIABILITIES

(18,663

)

(4,578

)

NET ASSETS/(LIABILITIES)

24,924

(36,204

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

24,824

(36,304

)

24,924

(36,204

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 16 September 2025 and were signed on its behalf by:

D Leigh - Director

1.	STATUTORY INFORMATION

LEIGH BROS FLOORING LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08778598

Registered office:

C/o DPC Accountants

Stone House

55 Stone Road Business Park

Stoke on Trent

Staffordshire

ST4 6SR

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.

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

SIGNIFICANT JUDGEMENTS AND ESTIMATES

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The judgements that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows

ii) Estimated useful lives and residual values of fixed assets

As described in the notes to the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during the current and prior accounting periods.

REVENUE RECOGNITION

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business in 2013 was amortised evenly over its estimated useful life of ten years. This is now fully amortised.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

Fixtures and fittings

-

20% reducing balance

Motor vehicles

-

25% reducing balance

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

Depreciation on the motor vehicles on finance leases are written off over the repayment terms of 48 months.

STOCKS

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

FINANCIAL INSTRUMENTS

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Financial liabilities 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.

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.

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.

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the 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 7 (2023 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2023

and 30 November 2024

10,900

AMORTISATION

At 1 December 2023

and 30 November 2024

10,900

NET BOOK VALUE

At 30 November 2024

-

At 30 November 2023

-

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 December 2023

28,137

90,171

118,308

Additions

2,955

108,310

111,265

Disposals

-

(41,982

)

(41,982

)

At 30 November 2024

31,092

156,499

187,591

DEPRECIATION

At 1 December 2023

14,830

70,215

85,045

Charge for year

3,252

35,279

38,531

Eliminated on disposal

-

(34,215

)

(34,215

)

At 30 November 2024

18,082

71,279

89,361

NET BOOK VALUE

At 30 November 2024

13,010

85,220

98,230

At 30 November 2023

13,307

19,956

33,263

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.24

30.11.23

£

£

Trade debtors

123,286

75,136

Other debtors

82,675

31,070

205,961

106,206

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.24

30.11.23

£

£

Bank loans and overdrafts

29,219

22,438

Hire purchase contracts

11,950

8,641

Trade creditors

89,900

87,531

Taxation and social security

15,217

10,643

Other creditors

37,936

33,362

184,222

162,615

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.24

30.11.23

£

£

Bank loans

5,831

15,831

Hire purchase contracts

92,800

9,870

98,631

25,701

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.11.24

30.11.23

£

£

Hire purchase contracts

104,750

18,511

The hire purchase liabilities are secured on the assets they relate to.

The bank loan is unsecured.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2024 and 30 November 2023:

30.11.24

30.11.23

£

£

D Leigh

Balance outstanding at start of year

13,813

11,562

Amounts advanced

32,603

31,737

Amounts repaid

(5,332

)

(29,486

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

41,084

13,813

H Burnham

Balance outstanding at start of year

11,381

126

Amounts advanced

34,121

33,927

Amounts repaid

(17,132

)

(22,672

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

28,370

11,381

11.	RELATED PARTY DISCLOSURES