REGISTERED NUMBER: 13143420 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 January 2025

for

Steve Smith Carpets Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S A Smith

REGISTERED OFFICE:

FFT

Reedham House

31 King Street West

Manchester

Greater Manchester

M3 2PJ

BUSINESS ADDRESS:

5 Castle Avenue

Denton

Manchester

Greater Manchester

M34 6LL

REGISTERED NUMBER:

13143420 (England and Wales)

ACCOUNTANTS:

Freedman Frankl & Taylor

Chartered Accountants

Reedham House

31 King Street West

Manchester

M3 2PJ

FIXED ASSETS

Intangible assets

4

15,200

17,600

Tangible assets

5

10,367

13,822

Investment property

6

230,454

-

256,021

31,422

CURRENT ASSETS

Stocks

8,500

8,500

Debtors

7

54,375

42,820

Cash at bank

82,112

112,776

144,987

164,096

CREDITORS

Amounts falling due within one year

8

(165,371

)

(60,058

)

NET CURRENT (LIABILITIES)/ASSETS

(20,384

)

104,038

TOTAL ASSETS LESS CURRENT LIABILITIES

235,637

135,460

PROVISIONS FOR LIABILITIES

(2,592

)

-

NET ASSETS

233,045

135,460

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

233,043

135,458

233,045

135,460

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 January 2025.

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

S A Smith - Director

1.	STATUTORY INFORMATION

Steve Smith 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.

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.

Turnover

Turnover 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 2022, is being amortised evenly over its estimated useful life of ten years.

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.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are initially recorded at cost less accumulated depreciation and accumulated impairment losses.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

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.

Going concern

The company's financial statements for the year ended 30 January 2025 have been prepared on a going concern basis as, after making appropriate enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 31 January 2024

and 30 January 2025

24,000

AMORTISATION

At 31 January 2024

6,400

Charge for year

2,400

At 30 January 2025

8,800

NET BOOK VALUE

At 30 January 2025

15,200

At 30 January 2024

17,600

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 31 January 2024

and 30 January 2025

14,990

10,000

24,990

DEPRECIATION

At 31 January 2024

5,855

5,313

11,168

Charge for year

2,284

1,171

3,455

At 30 January 2025

8,139

6,484

14,623

NET BOOK VALUE

At 30 January 2025

6,851

3,516

10,367

At 30 January 2024

9,135

4,687

13,822

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

230,454

At 30 January 2025

230,454

NET BOOK VALUE

At 30 January 2025

230,454

The directors consider that the market value of the investment property is not materially different to the amount shown in the financial statements at 30 January 2025.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

52,505

42,820

Other debtors

1,870

-

54,375

42,820

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

28,368

29,032

Taxation and social security

39,363

27,616

Other creditors

97,640

3,410

165,371

60,058

9.	RELATED PARTY DISCLOSURES

Included within other creditors is the director's current account balance of £89,829 (2024: £230). There are no fixed repayment terms and no interest is chargeable to the company in respect of this balance.