REGISTERED NUMBER: 01195541 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

P. & B. FLOORING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr L P Cocks

Mr A J Lovick

Mrs C L Brennan

REGISTERED OFFICE:

1 Hammond Close

Newmarket

Suffolk

CB8 0AZ

REGISTERED NUMBER:

01195541 (England and Wales)

ACCOUNTANTS:

NKT Accountants

11 Kings Court

Willie Snaith Road

Newmarket

Suffolk

CB8 7SG

FIXED ASSETS

Tangible assets

4

931,320

1,029,740

CURRENT ASSETS

Stocks

206,388

241,959

Debtors

5

445,063

712,600

Cash at bank and in hand

1,601,424

1,330,946

2,252,875

2,285,505

CREDITORS

Amounts falling due within one year

6

317,821

423,557

NET CURRENT ASSETS

1,935,054

1,861,948

TOTAL ASSETS LESS CURRENT LIABILITIES

2,866,374

2,891,688

PROVISIONS FOR LIABILITIES

184,375

203,507

NET ASSETS

2,681,999

2,688,181

CAPITAL AND RESERVES

Called up share capital

37

37

Revaluation reserve

7

634,678

663,378

Capital redemption reserve

33

33

Retained earnings

2,047,251

2,024,733

SHAREHOLDERS' FUNDS

2,681,999

2,688,181

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th September 2025 and were signed on its behalf by:

Mrs C L Brennan - Director

1.	STATUTORY INFORMATION

P. & B. Flooring 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 as modified by the revaluation of certain assets.

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

5% on cost and not provided

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 38 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST OR VALUATION

At 1st January 2024

950,000

92,342

467,838

1,510,180

Additions

-

1,107

-

1,107

Disposals

-

-

(32,506

)

(32,506

)

At 31st December 2024

950,000

93,449

435,332

1,478,781

DEPRECIATION

At 1st January 2024

172,400

48,422

259,618

480,440

Charge for year

32,830

8,917

50,090

91,837

Eliminated on disposal

-

-

(24,816

)

(24,816

)

At 31st December 2024

205,230

57,339

284,892

547,461

NET BOOK VALUE

At 31st December 2024

744,770

36,110

150,440

931,320

At 31st December 2023

777,600

43,920

208,220

1,029,740

Included in cost or valuation of land and buildings is freehold land of £ 293,400 (2023 - £ 293,400 ) which is not depreciated.

Cost or valuation at 31st December 2024 is represented by:

Freehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

Valuation in 2007

454,855

-

-

454,855

Valuation in 2018

170,000

-

-

170,000

Cost

325,145

93,449

435,332

853,926

950,000

93,449

435,332

1,478,781

If Freehold land and buildings had not been revalued it would have been included at the following historical cost:

31/12/24

31/12/23

£

£

Cost

323,125

323,125

Aggregate depreciation

213,775

213,775

Value of land in freehold land and buildings

100,000

100,000

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Motor

vehicles

£

COST OR VALUATION

At 1st January 2024

294,908

Transfer to ownership

(294,908

)

At 31st December 2024

-

DEPRECIATION

At 1st January 2024

219,648

Transfer to ownership

(219,648

)

At 31st December 2024

-

NET BOOK VALUE

At 31st December 2024

-

At 31st December 2023

75,260

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade debtors

386,241

647,893

Other debtors

58,822

64,707

445,063

712,600

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade creditors

113,307

122,798

Taxation and social security

97,532

163,343

Other creditors

106,982

137,416

317,821

423,557

7.

RESERVES

Revaluation

reserve

£

At 1st January 2024

663,378

Deferred tax adjustment

6,732

Depreciation adjustments

(35,432

)

At 31st December 2024

634,678

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31/12/24

31/12/23

£

£

Mr L P Cocks

Balance outstanding at start of year

(91,110

)

(71,269

)

Amounts advanced

60,997

63,403

Amounts repaid

(39,936

)

(83,244

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(70,049

)

(91,110

)

Mr A J Lovick

Balance outstanding at start of year

(33,275

)

(21,687

)

Amounts advanced

20,372

7,012

Amounts repaid

(10,267

)

(18,600

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(23,170

)

(33,275

)

Mrs C L Brennan

Balance outstanding at start of year

21,385

46,545

Amounts advanced

7,447

5,500

Amounts repaid

(24,814

)

(30,660

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

4,018

21,385

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr L P Cocks.