Euro Carpet Warehouse Limited - Filleted accounts

Registered number

06559953

Euro Carpet Warehouse Limited

Filleted Accounts

31 March 2025

Euro Carpet Warehouse Limited
Registered number:		06559953
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		121,263			129,872
Investments	4		100			100
			121,363			129,972

Current assets
Stocks		1,584,938			1,435,615
Debtors	5	126,386			127,686
Cash at bank and in hand		277,679			319,917
		1,989,003			1,883,218

Creditors: amounts falling due within one year	6	(599,547)			(593,359)

Net current assets			1,389,456			1,289,859

Total assets less current liabilities			1,510,819			1,419,831


Provisions for liabilities			(26,049)			(28,092)


Net assets			1,484,770			1,391,739

Capital and reserves
Called up share capital			100			100
Profit and loss account			1,484,670			1,391,639

Shareholders' funds			1,484,770			1,391,739

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr M Khan
Director
Approved by the board on 18 November 2025

Euro Carpet Warehouse Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			2% per annum on straight line
	Leasehold land and buildings			over the lease term
	Plant and machinery			15% per annum on written down value
	Motor vehicles			25% per annum on written down value

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.





	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.





2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					14		12


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2024	22,032		187,965		128,449		338,446
	Additions	-		2,426		14,000		16,426
	At 31 March 2025	22,032		190,391		142,449		354,872

	Depreciation
	At 1 April 2024	4,525		115,332		88,717		208,574
	Charge for the year	440		11,258		13,337		25,035
	At 31 March 2025	4,965		126,590		102,054		233,609

	Net book value
	At 31 March 2025	17,067		63,801		40,395		121,263
	At 31 March 2024	17,507		72,633		39,732		129,872


4	Investments
Investments in
subsidiary
undertakings
£
	Cost
	At 1 April 2024							100

	At 31 March 2025							100


5	Debtors					2025		2024
£							£

	Trade debtors					125,755		89,899
	Other debtors					631		37,787
						126,386		127,686








6	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					134,290		-
	Trade creditors					81,190		101,771
	Taxation and social security costs					107,117		158,499
	Other creditors					276,950		333,089
						599,547		593,359


7	Pension commitments

	The pension cost charge represents contributions payable to the scheme and amounted to £2,191 (2024- £1,794). Contributions totalling £Nil (2024 - £Nil) were payable to the scheme at the year end and are provided for in the accounts.


8	Related party transactions

	The company sold goods to Sofa Direct Limited amounting to £39,938 a company in which Mr M Z Khan has a controlling interest. The goods were sold at an arms length basis. The balance outstanding by Sofa Direct Limited at the year-end included in trade debtors is £81,024 (2024 - £53,099).


9	Controlling party

	The Company is controlled by the directors by virtue of their shareholding in the company.


10	Other information

	Euro Carpet Warehouse Limited is a private company limited by shares and incorporated in England. Its registered office is:
	253 Alcester Road South
	Kings Heath
	Birmingham
	West Midlands
	B14 6DT