Registrar

Registration number: 02154251

Mersea Carpets Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Mersea Carpets Limited

Company Information

Directors

H L T Lockett O J Lockett

Registered office

Great Eastern Road Sudbury Suffolk CO10 2TJ

Bankers

Barclays Bank Plc 9 High Street Colchester Essex CO1 1DA

Accountants

Lambert Chapman LLP Chartered Accountants3 Warners Mill Silks Way Braintree Essex CM7 3GB

Mersea Carpets Limited

(Registration number: 02154251)
Balance Sheet as at 31 July 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	73,513	54,910
Investment property	6	130,000	130,000
		203,513	184,910
Current assets
Stocks	7	56,198	62,250
Debtors	8	313,037	496,140
Cash at bank and in hand		313,520	218,896
		682,755	777,286
Creditors: Amounts falling due within one year	9	(274,189)	(235,359)
Net current assets		408,566	541,927
Total assets less current liabilities		612,079	726,837
Creditors: Amounts falling due after more than one year	9	(36,834)	-
Provisions for liabilities		(3,028)	(6,160)
Net assets		572,217	720,677
Capital and reserves
Called up share capital	10	80	80
Capital redemption reserve		295,020	295,020
Retained earnings		277,117	425,577
Shareholders' funds		572,217	720,677

Mersea Carpets Limited

(Registration number: 02154251)
Balance Sheet as at 31 July 2025

For the financial year ended 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 December 2025 and signed on its behalf by:
 

H L T Lockett Director

O J Lockett Director

Mersea Carpets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office and principle place of business is: Great Eastern Road, Sudbury, Suffolk, CO10 2TJ.

These financial statements were authorised for issue by the Board on 15 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of carpets and beds. Turnover is shown net of value added tax, returns, rebates and discounts.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on material temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% reducing balance method
Office equipment	15% reducing balance method and straight line over 3 years

Mersea Carpets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	5% straight line method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Mersea Carpets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Long term employee benefits

The holiday year for Mersea Carpets Limited ends at 31 December 2025.

Any unused holiday can be carried forward at the discretion of the directors. The cost of any unused entitlement is recognised in the period in which the employee's services are received.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2024 - 7).

Mersea Carpets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 August 2024	228,707	228,707
At 31 July 2025	228,707	228,707
Amortisation
At 1 August 2024	228,707	228,707
At 31 July 2025	228,707	228,707
Carrying amount
At 31 July 2025	-	-

Mersea Carpets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

5	Tangible assets

	Office equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 August 2024	18,820	66,523	85,343
Additions	788	52,499	53,287
Disposals	(3,821)	(17,000)	(20,821)
At 31 July 2025	15,787	102,022	117,809
Depreciation
At 1 August 2024	15,440	14,993	30,433
Charge for the year	1,204	22,534	23,738
Eliminated on disposal	(3,821)	(6,054)	(9,875)
At 31 July 2025	12,823	31,473	44,296
Carrying amount
At 31 July 2025	2,964	70,549	73,513
At 31 July 2024	3,380	51,530	54,910

6	Investment properties

	2025 £
At 1 August	130,000
At 31 July	130,000

7

Stocks

	2025 £	2024 £
Stocks	56,198	62,250

Mersea Carpets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

8

Debtors

	2025 £	2024 £
Trade debtors	19,111	203,883
Amounts owed by group undertakings	276,690	258,668
Other debtors	800	16,938
Prepayments	16,436	16,651
	313,037	496,140

9

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Trade creditors		34,496	75,312
Loans and borrowings	11	1,369	-
Taxation and social security		109,878	90,693
Directors loan		-	200
Other creditors		108,854	64,572
Accruals and deferred income		19,592	4,582
		274,189	235,359

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £1,369 (2024 - £nil).

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	11	36,834	-

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £36,834 (2024 - £nil).

Mersea Carpets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

10	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	80	80	80	80

11	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Hire purchase contracts	1,369	-

Non-current loans and borrowings

	2025 £	2024 £
Hire purchase contracts	36,834	-

12	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £3,333 (2024 - £3,333).