Leightons Carpets (Hull) Ltd

Registered Number: 01057494 Leightons Carpets (Hull) Ltd
Statement of Financial Position
As at 31 December 2024

	Notes	2024 £	2023 £
Fixed assets
Tangible fixed assets	4	889,672	897,607
		889,672	897,607
Current assets
Stocks	5	94,132	94,552
Debtors	6	32,175	22,457
Cash at bank and in hand		69,285	143,512
		195,592	260,521
Creditors: amount falling due within one year	7	(425,729)	(447,062)
Net current assets		(230,137)	(186,541)

Total assets less current liabilities		659,535	711,066
Creditors: amount falling due after more than one year	8	(224,233)	(275,047)
Provisions for liabilities	9	(35,127)	(11,902)
Net assets		400,175	424,117

Capital and reserves
Called up share capital		1,000	1,000
Revaluation Reserves	10	396,913	422,122
Profit and loss account		2,262	995
Shareholders' funds		400,175	424,117

For the year ended 31 December 2024 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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The financial statements were approved by the board of directors on 12 September 2025 and were signed on its behalf by:

-------------------------------
N Booker
Director

Leightons Carpets (Hull) Ltd
Notes to the Financial Statements
For the year ended 31 December 2024

General Information

Leightons Carpets (Hull) Ltd is a private company, limited by shares, registered in England and Wales, registration number 01057494, registration address 510/512 Hessle Road, Hull, HU3 5BQ.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)

Going concern basis

The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.

Dividends

Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.

Intangible assets

Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Land and Buildings	2% Straight Line
Motor Vehicles	25% Reducing Balance
Fixtures and Fittings	15% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

2.	Average number of employees Average number of employees during the year was 16 (2023 : 16).

Intangible fixed assets

Cost	Goodwill	Total
	£	£
At 01 January 2024	20,000	20,000
Additions	-	-
Disposals	-	-
At 31 December 2024	20,000	20,000
Amortisation
At 01 January 2024	20,000	20,000
Charge for year	-	-
On disposals	-	-
At 31 December 2024	20,000	20,000
Net book values
At 31 December 2024	-	-
At 31 December 2023	-	-

Tangible fixed assets

Cost or valuation	Land and Buildings	Motor Vehicles	Fixtures and Fittings	Total
	£	£	£	£
At 01 January 2024	850,000	24,391	274,908	1,149,299
Additions	-	-	-	-
Disposals	-	-	-	-
At 31 December 2024	850,000	24,391	274,908	1,149,299
Depreciation
At 01 January 2024	-	16,455	235,237	251,692
Charge for year	-	1,984	5,951	7,935
On disposals	-	-	-	-
At 31 December 2024	-	18,439	241,188	259,627
Net book values
Closing balance as at 31 December 2024	850,000	5,952	33,720	889,672
Opening balance as at 01 January 2024	850,000	7,937	39,670	897,607

Stocks

	2024 £		2023 £
Stocks	94,132		94,552
	94,132		94,552

Debtors: amounts falling due within one year

	2024 £	2023 £
Trade Debtors	29,956	20,238
Prepayments & Accrued Income	2,219	2,219
	32,175	22,457

Creditors: amount falling due within one year

	2024 £	2023 £
Trade Creditors	109,943	83,379
Bank Loans & Overdrafts	57,817	57,817
Corporation Tax	14,807	18,803
Social Security & Other Taxes	38,020	51,175
Accrued Expenses	129,991	158,989
Other Creditors	30,472	71,818
Obligations under HP/Financial Leases	2,437	5,023
Directors' Current Accounts	42,242	58
	425,729	447,062

Creditors: amount falling due after more than one year

	2024 £	2023 £
Bank Loans & Overdrafts	7,824	30,546
Other Creditors	216,409	242,909
Obligations Under HP/Financial Leases	0	1,592
	224,233	275,047

Provisions for liabilities

	2024 £	2023 £
Deferred Tax	35,127	41,629
Charged to Profit & Loss	0	(29,727)
	35,127	11,902

10.

Revaluation Reserves

	2024 £		2023 £
Revaluation Reserve b/fwd	396,913		422,122
	396,913		422,122

Registered Number: 01057494
England and Wales
Unaudited Financial Statements

for the year ended 31 December 2024
for
LEIGHTONS CARPETS (HULL) LTD