Paul Senior Contract Flooring Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05332795 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 December 2024

for

PAUL SENIOR CONTRACT FLOORING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Senior

SECRETARY:

Mrs L J Imbusch

REGISTERED OFFICE:

Croysdale Farm Moorlee Lane

High Eggborough

Goole

Humberside

DN14 0PX

REGISTERED NUMBER:

05332795 (England and Wales)

ACCOUNTANTS:

Fortus Limited

3 Park Square East

Leeds

LS1 2NE

FIXED ASSETS

Tangible assets

4

18,614

33,703

CURRENT ASSETS

Stocks

12,000

8,000

Debtors

5

239,176

319,744

Cash at bank

418

27,312

251,594

355,056

CREDITORS

Amounts falling due within one year

6

237,752

221,265

NET CURRENT ASSETS

13,842

133,791

TOTAL ASSETS LESS CURRENT LIABILITIES

32,456

167,494

CREDITORS

Amounts falling due after more than
one year

7

(3,518

)

(13,518

)

PROVISIONS FOR LIABILITIES

8

(2,933

)

(5,668

)

NET ASSETS

26,005

148,308

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

26,003

148,306

SHAREHOLDERS' FUNDS

26,005

148,308

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 April 2026 and were signed by:

P Senior - Director

1.	STATUTORY INFORMATION

Paul Senior Contract Flooring Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In applying the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities. Estimates and assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The main judgement concerns the likely future demand for the company's products and how that impacts on the carrying value of stock. The director has based his judgement on his considerable experience and understanding of the product and its marketplace.

Turnover

Turnover represents the value of work done in the period, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

25% Reducing balance

Motor vehicles

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company enters into basic financial instrument transactions resulting in the recognition of financial assets and liabilities such as trade debtors and trade creditors, loans from banks and loans to and from related parties. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured at the undiscounted constitutes a financing transaction, such as the payment of a trade debt beyond normal business terms or financed at a non-market rate of interest, the financial asset or liability is measured at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

COST

At 1 January 2024

and 31 December 2024

2,357

101,515

103,872

DEPRECIATION

At 1 January 2024

2,357

67,812

70,169

Charge for year

-

15,089

At 31 December 2024

2,357

82,901

85,258

NET BOOK VALUE

At 31 December 2024

-

18,614

At 31 December 2023

-

33,703

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Motor

vehicles

£

COST

At 1 January 2024

37,970

Transfer to ownership

(37,970

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

21,847

Transfer to ownership

(21,847

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

16,123

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

96,377

258,151

Director's current account

118,010

31,085

VAT

23,943

28,479

Prepayments

846

2,029

239,176

319,744

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

32,850

-

Loan creditor

10,648

Trade creditors

172,977

186,755

Corporation tax

3,114

3,006

Social security and other taxes

14,163

-

Wages payable

-

6,300

Accrued expenses

4,000

14,556

237,752

221,265

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Loan creditors

3,518

13,518

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

Deferred tax

2,933

5,668

Deferred

tax

£

Balance at 1 January 2024

5,668

Credit to Income Statement during year

(2,735

)

Balance at 31 December 2024

2,933

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

P Senior

Balance outstanding at start of year

31,085

(25,445

)

Amounts advanced

157,154

145,124

Amounts repaid

(70,229

)

(88,594

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

118,010

31,085

The full balance has been repaid within 9 months of the year end.