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Registered number: 02692686
Base Flooring Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 02692686
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 30,537 43,073
30,537 43,073
CURRENT ASSETS
Debtors 5 960,284 531,412
Cash at bank and in hand 255,545 569,443
1,215,829 1,100,855
Creditors: Amounts Falling Due Within One Year 6 (214,595 ) (178,294 )
NET CURRENT ASSETS (LIABILITIES) 1,001,234 922,561
TOTAL ASSETS LESS CURRENT LIABILITIES 1,031,771 965,634
NET ASSETS 1,031,771 965,634
CAPITAL AND RESERVES
Called up share capital 7 4 4
Profit and Loss Account 1,031,767 965,630
SHAREHOLDERS' FUNDS 1,031,771 965,634
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Barry Gavin
Director
12/12/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Base Flooring Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02692686 . The registered office is 190 Cavendish Road, London, SW12 0BZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% pa on cost
Fixtures & Fittings 25% pa on cost
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 2
Page 3
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2025 2024
Office and administration 2 2
Sales, marketing and distribution 3 3
5 5
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2024 161,456 9,252 170,708
Additions 12,000 - 12,000
Disposals (22,186 ) - (22,186 )
As at 31 March 2025 151,270 9,252 160,522
Depreciation
As at 1 April 2024 118,383 9,252 127,635
Provided during the period 24,536 - 24,536
Disposals (22,186 ) - (22,186 )
As at 31 March 2025 120,733 9,252 129,985
Net Book Value
As at 31 March 2025 30,537 - 30,537
As at 1 April 2024 43,073 - 43,073
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 238,716 207,360
Prepayments and accrued income 8,250 8,250
Other debtors 713,318 315,802
960,284 531,412
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors - 1
Bank loans and overdrafts - 6,976
Corporation tax 76,999 69,479
VAT 50,875 15,896
Other creditors 12,000 -
Accruals and deferred income 74,721 85,942
214,595 178,294
Page 3
Page 4
7. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 4 4
8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2025 2024
£ £
Not later than one year 10,000 21,500
Later than one year and not later than five years - 10,000
10,000 31,500
9. Dividends
2025 2024
£ £
On equity shares:
Final dividend paid 150,000 -
10. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Base Holdings (London) Limited, a company incorporated in England, who controls 100% of the shares of Base Flooring Limited.
Page 4