Registration number:
Impressive Flooring Company Limited
for the Year Ended 31 May 2025
Impressive Flooring Company Limited
Contents
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Company Information |
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Directors' Report |
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Statement of Income and Retained Earnings |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
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Accountants' Report |
Impressive Flooring Company Limited
Company Information
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Directors |
R J Scarry K Scarry |
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Company secretary |
K Scarry |
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Registered office |
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Accountants |
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Impressive Flooring Company Limited
Directors' Report for the Year Ended 31 May 2025
The directors present their report and the financial statements for the year ended 31 May 2025.
Principal activity
The principal activity of the company is floor and wall covering
Directors of the company
The directors who held office during the year and up to the date of approval of this report were as follows:
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.
Small companies provision statement
The directors have taken advantage of the small companies exemptions provided by sections 414B and 415A of the Companies Act 2006 from the requirement to prepare a strategic report and in preparing the directors’ report on the grounds that the company is entitled to prepare its accounts for the year in accordance with the small companies regime.
Approved and authorised by the
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Impressive Flooring Company Limited
Statement of Income and Retained Earnings
for the Year Ended 31 May 2025
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2025 |
2024 |
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Revenue |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating loss |
( |
( |
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Other interest receivable and similar income |
( |
( |
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(21,812) |
(10,894) |
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Loss before tax |
( |
( |
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Taxation |
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Loss for the financial year |
( |
( |
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Retained earnings brought forward |
1,645,631 |
1,957,213 |
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Dividends paid |
( |
( |
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Retained earnings carried forward |
1,468,644 |
1,645,632 |
Impressive Flooring Company Limited
(Registration number: 05422647)
Statement of Financial Position as at 31 May 2025
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Note |
2025 |
2024 |
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Non-current assets |
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Property, plant and equipment |
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Current assets |
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Receivables |
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Cash at bank and in hand |
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Payables: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Equity |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements of Impressive Flooring Company Limited were approved and authorised for issue by the
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Director
Impressive Flooring Company Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2025
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General information |
Impressive Flooring Company Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.
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Accounting policies |
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).
Summary of disclosure exemptions
The company meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its separate financial statements. The company is consolidated in the financial statements of its parent, which may be obtained from . Exemptions have been taken in these separate company financial statements in relation to financial instruments, presentation of a cash flow statement, transactions with group entities and remuneration of key management personnel..
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.
Critical judgements and key sources of estimation uncertainties
There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.
Impressive Flooring Company Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2025 (continued)
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2 |
Accounting policies (continued) |
Revenue recognition
Revenue 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. Revenue 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.
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.
Property, plant and equipment
Property, plant and equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.
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:
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Asset class |
Depreciation method and rate |
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Improvements to property |
10% on cost |
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Plant and machinery |
15% on cost and 10 % on cost |
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Fixtures and fittings |
10% on cost |
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Motor vehicles |
20% on cost |
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Computer equipment |
33% on cost |
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Freehold property |
2% on cost |
Goodwill
Goodwill is amortised over its useful life of 5 years.
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:
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Asset class |
Amortisation method and rate |
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Goodwill |
10% on cost |
Impressive Flooring Company Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2025 (continued)
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2 |
Accounting policies (continued) |
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.
Receivables
Trade and other receivables that are receivable within one year and do not constitute a financing
transaction are recorded at the undiscounted amount expected to be received, net of impairment.
Those that are receivable after more than one year or that constitute a financing transaction are
recorded initially at fair value less transaction costs and subsequently at amortised cost, net of
impairment.
Payables
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary
course of business from suppliers. Trade and other payables 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 and other payables that are payable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be paid. Those that are payable after more than one year or that constitute a financing transaction are recorded initially at transaction price and subsequently at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
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.
Impressive Flooring Company Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2025 (continued)
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2 |
Accounting policies (continued) |
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.
Financial instruments
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Impressive Flooring Company Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2025 (continued)
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Taxation |
Tax charged/(credited) in the income statement
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2025 |
2024 |
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Current taxation |
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UK corporation tax |
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( |
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Deferred taxation |
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Arising from origination and reversal of timing differences |
( |
( |
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Tax receipt in the income statement |
( |
( |
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Intangible assets |
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Goodwill |
Total |
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Cost or valuation |
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At 1 June 2024 |
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At 31 May 2025 |
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Amortisation |
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At 1 June 2024 |
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At 31 May 2025 |
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Carrying amount |
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At 31 May 2025 |
- |
- |
Impressive Flooring Company Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2025 (continued)
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Property, plant and equipment |
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Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 June 2024 |
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Additions |
- |
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Disposals |
- |
- |
( |
- |
( |
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At 31 May 2025 |
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Depreciation |
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At 1 June 2024 |
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Charge for the year |
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Eliminated on disposal |
- |
- |
( |
- |
( |
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At 31 May 2025 |
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Carrying amount |
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At 31 May 2025 |
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At 31 May 2024 |
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Included within the net book value of land and buildings above is £757,160 (2024 - £774,484) in respect of freehold land and buildings.
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Receivables |
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2025 |
2024 |
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Trade receivables |
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Other receivables |
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Impressive Flooring Company Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2025 (continued)
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Payables |
Payables: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade payables |
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Social security and other taxes |
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- |
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Other payables |
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Accruals |
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Income tax liability |
3,259 |
(20,923) |
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Provisions for liabilities |
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Deferred tax |
Total |
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At 1 June 2024 |
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Additional provisions |
( |
( |
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At 31 May 2025 |
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Impressive Flooring Company Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 May 2025 (continued)
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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Loans and borrowings |
Current loans and borrowings
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2025 |
2024 |
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Bank overdraft |
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- |
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Other borrowings |
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Dividends |
Final dividends paid
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2025 |
2024 |
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Final dividend of £ |
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Related party transactions |
Directors' remuneration
The directors' remuneration for the year was as follows:
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2025 |
2024 |
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Remuneration |
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Contributions paid to money purchase schemes |
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18,235 |
19,262 |
Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Impressive Flooring Company Limited
for the Year Ended 31 May 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Impressive Flooring Company Limited for the year ended 31 May 2025 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.
As a practising firm of accountants we are subject to ethical and other professional requirements.
This report is made solely to the Board of Directors of Impressive Flooring Company Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Impressive Flooring Company Limited and state those matters that we have agreed to state to the Board of Directors of Impressive Flooring Company Limited as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Impressive Flooring Company Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Impressive Flooring Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Impressive Flooring Company Limited. You consider that Impressive Flooring Company Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Impressive Flooring Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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For and on behalf of
19 Cedar Road
Sutton
Surrey
SM2 5DA