Registration number: 02120267

Geoff Keane Carpets Ltd

Contents

Company Information	1
Statement Financial Position	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Geoff Keane Carpets Ltd

Company Information

Directors

GW Keane L Woodus

Registered office

Upper Floor Denham House 2 Denham Road Canvey Island Essex SS8 9HB

Accountants

Smiths Accountancy Services Limited Chartered Certified AccountantsUpper Floor Denham House 2 Denham Road Canvey Island Essex SS8 9HB

Geoff Keane Carpets Ltd

(Registration number: 02120267)
Statement Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	45,713	51,033
Investment property	5	1,315,864	1,315,864
Other financial assets	6	18,837	17,511
		1,380,414	1,384,408
Current assets
Stocks	7	7,035	8,915
Debtors	8	653,983	546,988
Cash at bank and in hand		250,858	297,182
		911,876	853,085
Creditors: Amounts falling due within one year	9	(173,401)	(133,720)
Net current assets		738,475	719,365
Total assets less current liabilities		2,118,889	2,103,773
Provisions for liabilities		(276)	(900)
Net assets		2,118,613	2,102,873
Capital and reserves
Called up share capital	10	105	105
Share premium reserve		989	989
Retained earnings		2,117,519	2,101,779
Shareholders' funds		2,118,613	2,102,873

Geoff Keane Carpets Ltd

(Registration number: 02120267)
Statement Financial Position as at 31 March 2025

For the financial year ending 31 March 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 Income Statement.

Approved and authorised by the Board on 16 December 2025 and signed on its behalf by:
 

......................................... GW Keane Director

Geoff Keane Carpets Ltd

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

1	General information

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

The address of its registered office is:
Upper Floor Denham House
2 Denham Road
Canvey Island
Essex
SS8 9HB

The principal place of business is:
213 Woodgrange Drive
Southend-on-Sea
Essex
SS1 2SG

These financial statements were authorised for issue by the Board on 16 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 except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Geoff Keane Carpets Ltd

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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 in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

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

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% on net book value
Fixtures and fittings	15% and 20% on net book value
Motor vehicles	25% on net book value

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Geoff Keane Carpets Ltd

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

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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. Accounts payable 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Geoff Keane Carpets Ltd

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

3	Staff numbers

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

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	60,000	32,725	52,316	145,041
At 31 March 2025	60,000	32,725	52,316	145,041
Depreciation
At 1 April 2024	27,600	30,605	35,803	94,008
Charge for the year	1,200	321	3,799	5,320
At 31 March 2025	28,800	30,926	39,602	99,328
Carrying amount
At 31 March 2025	31,200	1,799	12,714	45,713
At 31 March 2024	32,400	2,120	16,513	51,033

Included within the net book value of land and buildings above is £31,200 (2024 - £32,400) in respect of freehold land and buildings.
 

5	Investment properties

	2025 £
At 1 April	1,315,864
At 31 March	1,315,864

There has been no valuation of investment property by an independent valuer.

Geoff Keane Carpets Ltd

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

6	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 April 2024	17,511	17,511
Fair value adjustments	987	987
Additions	339	339
At 31 March 2025	18,837	18,837
Impairment
Carrying amount
At 31 March 2025	18,837	18,837

7

Stocks

	2025 £	2024 £
Raw materials and consumables	7,035	8,915

8

Debtors

Current	2025 £	2024 £
Trade debtors	225,078	202,833
Prepayments	10,104	11,384
Other debtors	418,801	332,771
	653,983	546,988

9

Creditors

Creditors: amounts falling due within one year

Geoff Keane Carpets Ltd

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

	2025 £	2024 £
Due within one year
Trade creditors	78,834	67,833
Taxation and social security	49,387	28,996
Accruals and deferred income	3,840	3,571
Other creditors	41,340	33,320
	173,401	133,720

10	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary £1 A shares of £1 each	100	100	100	100
Ordinary £1 B shares of £1 each	1	1	1	1
Ordinary £1 C shares of £1 each	1	1	1	1
Ordinary £1 D shares of £1 each	1	1	1	1
Ordinary £1 E shares of £1 each	1	1	1	1
Ordinary £1 F shares of £1 each	1	1	1	1
	105	105	105	105

11

Dividends

Final dividends paid

		2025 £		2024 £
Final dividend of £Nil per each Ordinary £1 C shares		3,000		4,000
Final dividend of £Nil per each Ordinary £1 D shares		-		-
Final dividend of £Nil per each Ordinary £1 E shares		1,000		2,000
Final dividend of £Nil per each Ordinary £1 F shares		-		-
		4,000		6,000

Geoff Keane Carpets Ltd

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

12	Related party transactions

Transactions with directors

2025	At 1 April 2024 £	Advances to director £	At 31 March 2025 £
GW Keane
	249,411	63,196	312,607

2024	At 1 April 2023 £	Advances to director £	At 31 March 2024 £
GW Keane
	230,962	18,449	249,411

Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	38,402	14,400