S & D Flooring Specialists Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 6599678

S & D Flooring Specialists Limited

Filleted Unaudited Financial Statements

31 December 2024

S & D Flooring Specialists Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Intangible assets	6	1,425	1,900
Tangible assets	7	49,420	59,220
		--------	--------
		50,845	61,120

Current assets

Stocks		17,152	22,183
Debtors	8	413,399	478,399
Cash at bank and in hand		132,216	237,357
		---------	---------
		562,767	737,939

Creditors: amounts falling due within one year	9	199,943		229,767
		---------		---------
Net current assets			362,824		508,172
			---------		---------
Total assets less current liabilities			413,669		569,292

Creditors: amounts falling due after more than one year	10		37,779		50,163

Provisions

Taxation including deferred tax	–	13,078
	---------	---------
Net assets	375,890	506,051
	---------	---------

Capital and reserves

Called up share capital	11	110	110
Profit and loss account		375,780	505,941
		---------	---------
Shareholders funds		375,890	506,051
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

S & D Flooring Specialists Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 25 September 2025 , and are signed on behalf of the board by:

S M Dixon
Director

Company registration number: 6599678

S & D Flooring Specialists Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 17, K3 Business Park, 200 Clough Road, Hull, East Yorkshire, HU5 1SN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land and buildings	-	2% straight line
Plant and machinery	-	15% reducing balance
Fixtures and fittings	-	20% reducing balance
Motor vehicles	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases 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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 12 (2023: 13 ).

5. Tax on (loss)/profit

Major components of tax (income)/expense

	2024	2023
	£	£

Deferred tax:

Origination and reversal of timing differences	( 13,078)	10,707
	--------	--------
Tax on (loss)/profit	( 13,078)	10,707
	--------	--------

6. Intangible assets

	Goodwill
	£
Cost
At 1 January 2024 and 31 December 2024	9,500
	-------
Amortisation
At 1 January 2024	7,600
Charge for the year	475
	-------
At 31 December 2024	8,075
	-------
Carrying amount
At 31 December 2024	1,425
	-------
At 31 December 2023	1,900
	-------

7. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 January 2024	25,601	28,827	45,800	100,228
Additions	1,100	930	–	2,030
Disposals	–	( 2,220)	–	( 2,220)
	--------	--------	--------	---------
At 31 December 2024	26,701	27,537	45,800	100,038
	--------	--------	--------	---------
Depreciation
At 1 January 2024	14,569	17,279	9,160	41,008
Charge for the year	1,820	2,216	7,328	11,364
Disposals	–	( 1,754)	–	( 1,754)
	--------	--------	--------	---------
At 31 December 2024	16,389	17,741	16,488	50,618
	--------	--------	--------	---------
Carrying amount
At 31 December 2024	10,312	9,796	29,312	49,420
	--------	--------	--------	---------
At 31 December 2023	11,032	11,548	36,640	59,220
	--------	--------	--------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 31 December 2024	29,312
	--------
At 31 December 2023	36,640
	--------

8. Debtors

	2024	2023
	£	£
Trade debtors	108,351	179,845
Amounts owed by undertakings in which the company has a participating interest	155,000	155,000
Prepayments and accrued income	7,252	6,559
Director's loan account	134,767	121,204
Other debtors	8,029	15,791
	---------	---------
	413,399	478,399
	---------	---------

9. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	7,000	7,000
Trade creditors	83,401	102,393
Social security and other taxes	10,042	9,981
Obligations under finance leases and hire purchase contracts	5,384	4,314
Factoring loan	77,504	104,149
Other creditors	16,612	1,930
	---------	---------
	199,943	229,767
	---------	---------

The factoring loan is secured on the trade debtors of the company.

10. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	2,917	9,917
Obligations under finance leases and hire purchase contracts	34,862	40,246
	--------	--------
	37,779	50,163
	--------	--------

11. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
'A' Ordinary shares of £ 1 each	10	10	10	10
	----	----	----	----
	110	110	110	110
	----	----	----	----

12. Director's advances, credits and guarantees

At the year end, the director, Mr S Dixon owed the company £134,767. This was repaid shortly after the year end.