North Street Carpets Limited Company accounts

COMPANY REGISTRATION NUMBER: 09199915

North Street Carpets Limited

Unaudited Financial Statements

30 September 2025

North Street Carpets Limited

Financial Statements

Year ended 30 September 2025

Contents	Page

Directors' report	1

Accountants report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of income and retained earnings	3

Statement of financial position	4

Notes to the financial statements	5

North Street Carpets Limited

Directors' Report

Year ended 30 September 2025

The directors present their report and the unaudited financial statements of the company for the year ended 30 September 2025 .

Directors

The directors who served the company during the year were as follows:

Mr C Reid
Miss S Jones

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 4 June 2026 and signed on behalf of the board by:

Mr C Reid

Director

Registered office:

20 King Street

Accrington

Lancashire

BB5 1PR

North Street Carpets Limited

Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of North Street Carpets Limited

Year ended 30 September 2025

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 September 2025, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

APPLEBYS ACCOUNTANTS Accountants

The Offices 161 Manchester Road Accrington BB5 2NY

4 June 2026

North Street Carpets Limited

Statement of Income and Retained Earnings

Year ended 30 September 2025

	2025	2024
Note	£	£
Turnover	90,264	85,376

Cost of sales	53,817	49,432
	--------	--------
Gross profit	36,447	35,944

Administrative expenses	35,557	32,863
	--------	--------
Operating profit	890	3,081

Interest payable and similar expenses		–	500
		--------	--------
Profit before taxation	5	890	2,581

Tax on profit	–	503
	----	-------
Profit for the financial year and total comprehensive income	890	2,078
	----	-------

Retained losses at the start of the year	( 806)	( 2,884)
	----	-------
Retained earnings/(losses) at the end of the year	84	( 806)
	----	-------

All the activities of the company are from continuing operations.

North Street Carpets Limited

Statement of Financial Position

30 September 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6		6,315	373

Current assets

Stocks		–	2,500
Debtors	7	–	3,695
Cash at bank and in hand		13,888	23,031
		--------	--------
		13,888	29,226

Creditors: amounts falling due within one year	8	20,117		30,403
		--------		--------
Net current liabilities			6,229	1,177
			-------	-------
Total assets less current liabilities			86	( 804)
			----	----
Net assets/(liabilities)			86	( 804)
			----	----

Capital and reserves

Called up share capital	2	2
Profit and loss account	84	( 806)
	----	----
Shareholders funds/(deficit)	86	( 804)
	----	----

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 30 September 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 4 June 2026 , and are signed on behalf of the board by:

Mr C Reid

Director

Company registration number: 09199915

North Street Carpets Limited

Notes to the Financial Statements

Year ended 30 September 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 King Street, Accrington, Lancashire, BB5 1PR.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor Vehicles	-	25% reducing balance
Equipement	-	15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured 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 the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Profit before taxation

Profit before taxation is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	2,097	66
	-------	----

6. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1 October 2024	–	571	571
Additions	7,500	539	8,039
	-------	-------	-------
At 30 September 2025	7,500	1,110	8,610
	-------	-------	-------
Depreciation
At 1 October 2024	–	198	198
Charge for the year	1,875	222	2,097
	-------	-------	-------
At 30 September 2025	1,875	420	2,295
	-------	-------	-------
Carrying amount
At 30 September 2025	5,625	690	6,315
	-------	-------	-------
At 30 September 2024	–	373	373
	-------	-------	-------

7. Debtors

	2025	2024
	£	£
Trade debtors	–	3,695
	----	-------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	6,139	17,248
Trade creditors	–	1,481
Corporation tax	–	503
Other creditors	13,978	11,171
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	20,117	30,403
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9. Related party transactions

The company was under the control of the directors throughout the current and previous year. The directors own the whole of the issued share capital. No transactions with related parties were undertaken such as are required to be disclosed under FRSSE (2015).