REGISTERED NUMBER: OC329896 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

M & S Carpets & Flooring LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountant

8

DESIGNATED MEMBERS:

Mr Matthew John Owston

Mr Steven David Wingrove

REGISTERED OFFICE:

Unit 10 Redlands Centre

Coulsdon

Surrey

CR5 2HT

REGISTERED NUMBER:

OC329896 (England and Wales)

ACCOUNTANT:

Marden & Co Accountants Limited

45 Nork Way

Banstead

Surrey

SM7 1PB

FIXED ASSETS

Intangible assets

4

14,573

21,859

Tangible assets

5

83,141

62,213

97,714

84,072

CURRENT ASSETS

Stocks

15,000

25,000

Debtors

6

1,248,239

523,703

Cash at bank and in hand

70,556

1,127,679

1,333,795

1,676,382

CREDITORS

Amounts falling due within one year

7

649,502

1,522,500

NET CURRENT ASSETS

684,293

153,882

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

782,007

237,954

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

26,185

26,185

MEMBERS' OTHER INTERESTS

Capital accounts

755,822

211,769

782,007

237,954

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

26,185

26,185

Members' other interests

755,822

211,769

Amounts due from members

6

(763,122

)

(313,952

)

18,885

(75,998

)

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 10 July 2025 and were signed by:

Mr Matthew John Owston - Designated member

Mr Steven David Wingrove - Designated member

1.	STATUTORY INFORMATION

M & S Carpets & Flooring LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. 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 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

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.

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 LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 11 (2024 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

72,862

AMORTISATION

At 1 April 2024

51,003

Amortisation for year

7,286

At 31 March 2025

58,289

NET BOOK VALUE

At 31 March 2025

14,573

At 31 March 2024

21,859

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2024

2,553

13,574

2,360

Additions

11,100

15,482

11,680

At 31 March 2025

13,653

29,056

14,040

DEPRECIATION

At 1 April 2024

-

12,780

345

Charge for year

-

3,101

2,694

At 31 March 2025

-

15,881

3,039

NET BOOK VALUE

At 31 March 2025

13,653

13,175

11,001

At 31 March 2024

2,553

794

2,015

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

197,784

95,654

311,925

Additions

-

2,966

41,228

At 31 March 2025

197,784

98,620

353,153

DEPRECIATION

At 1 April 2024

159,658

76,929

249,712

Charge for year

9,532

4,973

20,300

At 31 March 2025

169,190

81,902

270,012

NET BOOK VALUE

At 31 March 2025

28,594

16,718

83,141

At 31 March 2024

38,126

18,725

62,213

Included in cost of land and buildings is freehold land of £ 13,653 (2024 - £ 2,553 ) which is not depreciated.

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

58,958

161,091

Other Debtors

325,647

-

Retention

11,954

-

Amounts due from members

449,170

-

VAT

76,043

43,785

Prepayments

12,515

4,875

934,287

209,751

Amounts falling due after more than one year:

Amounts due from members

313,952

313,952

Aggregate amounts

1,248,239

523,703

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 8)

4,571

11,052

Trade creditors

190,484

151,577

Social security and other taxes

2,537

16,644

Other creditors

452,242

995,892

Wages payable

-

18,036

Pension payable

(332

)

500

Accrued expenses

-

328,799

649,502

1,522,500

8.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

4,571

11,052

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2025

2024

£

£

Loans from members

26,185

26,185

Falling due within one year

26,185

26,185

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.

There is no provision for specific legally enforceable protection afforded to creditors in such an event.

There are no restrictions or limitations on the ability of the members to reduce the amount of ‘Members’ other interests'

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr. Matthew Owston and Mr. Steven Wingrove.

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2025 set out on page nil and you consider that the LLP is exempt from an audit.

In accordance with your instructions, I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to me.

Marden & Co Accountants Limited

45 Nork Way

Banstead

Surrey

SM7 1PB

10 July 2025