REGISTERED NUMBER: 04563930

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

ORIENTAL RUGS OF NORWICH LIMITED

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

28,098

35,397

28,098

35,397

CURRENT ASSETS

Stocks

115,337

124,385

Debtors

13,077

20,622

Cash at bank and in hand

41,540

50,283

169,954

195,290

CREDITORS

Amounts falling due within one year

127,858

119,950

NET CURRENT ASSETS

42,096

75,340

TOTAL ASSETS LESS CURRENT LIABILITIES

70,194

110,737

CREDITORS

Amounts falling due after more than one year

(13,796

)

(18,813

)

PROVISIONS FOR LIABILITIES

(5,339

)

(6,725

)

NET ASSETS

51,059

85,199

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

50,959

85,099

SHAREHOLDERS' FUNDS

51,059

85,199

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Balance sheet for the year ended 30 November 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 18 May 2026 and were signed on its behalf by:

JR Durrant - Director

1.	STATUTORY INFORMATION

Oriental Rugs of Norwich Limited is a private company, limited by shares, registered in England and Wales. The company's registered office is Towlers Court, 30A Elm Hill, Norwich, Norfolk, NR3 1HG with the principal trading address being 4 Bedford Street, Norwich, NR2 1AR.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill is written off over twenty years being its estimated economic life.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the assets, less their residual value, over their expected useful lives at the following annual rates:

Fixtures, fittings and equipment - 15% reducing balance basis

Tenants capital outlay - 15% reducing balance basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition.

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.

Basis of trading

Some purchases of goods by the company are made on the terms that legal ownership shall not pass until payment. The financial statements have been drawn up on the basis that such ownership will be established in the normal course of trading.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2024

and 30 November 2025

80,000

AMORTISATION

At 1 December 2024

and 30 November 2025

80,000

NET BOOK VALUE

At 30 November 2025

-

At 30 November 2024

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2024

and 30 November 2025

63,845

DEPRECIATION

At 1 December 2024

28,448

Charge for year

7,299

At 30 November 2025

35,747

NET BOOK VALUE

At 30 November 2025

28,098

At 30 November 2024

35,397

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

Totals

£

COST

At 1 December 2024

and 30 November 2025

26,475

DEPRECIATION

At 1 December 2024

6,619

Charge for year

4,964

At 30 November 2025

11,583

NET BOOK VALUE

At 30 November 2025

14,892

At 30 November 2024

19,856