REGISTERED NUMBER: 01115239 (England and Wales)

NUTLAND CARPET ACCESSORIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J A Smith

Mrs J E Smith

B P Smith

REGISTERED OFFICE:

Unit 1 Renown Close

Chandlers Ford Industrial Estate

Eastleigh

Hampshire

SO53 4HZ

REGISTERED NUMBER:

01115239 (England and Wales)

FIXED ASSETS

Tangible assets

4

493,287

590,947

CURRENT ASSETS

Stocks

1,447,608

1,508,093

Debtors

5

1,317,461

1,411,667

Cash at bank and in hand

423,782

446,840

3,188,851

3,366,600

CREDITORS

Amounts falling due within one year

6

(1,555,634

)

(1,615,598

)

NET CURRENT ASSETS

1,633,217

1,751,002

TOTAL ASSETS LESS CURRENT LIABILITIES

2,126,504

2,341,949

CREDITORS

Amounts falling due after more than one year

7

(106,511

)

(117,223

)

PROVISIONS FOR LIABILITIES

(95,238

)

(115,206

)

NET ASSETS

1,924,755

2,109,520

CAPITAL AND RESERVES

Called up share capital

4,377

4,377

Non-distributable reserves

10,226

10,226

Retained earnings

1,910,152

2,094,917

SHAREHOLDERS' FUNDS

1,924,755

2,109,520

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 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 6 November 2025 and were signed on its behalf by:

J A Smith - Director

B P Smith - Director

1.	STATUTORY INFORMATION

Nutland Carpet Accessories 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 FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover

Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically dispatched to the customer.

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.

Leasehold improvements

-

Over the length of the lease

Plant and machinery

-

25% Reducing balance

Fixtures and fittings

-

20% Reducing balance

Motor vehicles

-

20% Reducing balance

Computer equipment

-

20% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

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 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 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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account 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.

Financial assets

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities

Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2024 - 41 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

improvements

machinery

fittings

£

£

£

COST

At 1 June 2024

69,740

295,965

239,714

Additions

-

12,934

799

Disposals

-

(17,932

)

(1,788

)

At 31 May 2025

69,740

290,967

238,725

DEPRECIATION

At 1 June 2024

35,048

272,504

222,391

Charge for year

9,675

11,241

6,498

Eliminated on disposal

-

(8,962

)

(1,788

)

At 31 May 2025

44,723

274,783

227,101

NET BOOK VALUE

At 31 May 2025

25,017

16,184

11,624

At 31 May 2024

34,692

23,461

17,323

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 June 2024

909,889

316,338

1,831,646

Additions

94,272

4,412

112,417

Disposals

(18,110

)

(11,003

)

(48,833

)

At 31 May 2025

986,051

309,747

1,895,230

DEPRECIATION

At 1 June 2024

448,117

262,639

1,240,699

Charge for year

148,108

19,599

195,121

Eliminated on disposal

(17,924

)

(5,203

)

(33,877

)

At 31 May 2025

578,301

277,035

1,401,943

NET BOOK VALUE

At 31 May 2025

407,750

32,712

493,287

At 31 May 2024

461,772

53,699

590,947

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,128,750

1,243,712

Other debtors

188,711

167,955

1,317,461

1,411,667

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

136,855

104,040

Hire purchase contracts

79,203

79,262

Trade creditors

1,116,959

1,260,118

Taxation and social security

156,489

144,446

Other creditors

66,128

27,732

1,555,634

1,615,598

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

106,511

117,223

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

185,714

196,485

Trade debt finance

136,855

104,040

322,569

300,525

The balance due under the trade debt finance arrangement is secured against the book debts of the company.

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

9.	OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had future commitments under operating leases which totalled £564,398 (2024: £827,245).

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year advances totalling £15,688 (2024: £5,224) and repayments totalling £12,945 (2024: £3,939) were made by one of the directors. The balance outstanding at the year end was £1,400 (2024: £4,143).

No interest is payable and the advances are repayable on demand.