Mike Chapman Carpets Limited

Mike Chapman Carpets Limited
Contents Page
For the year ended 28 February 2026

Accountants' Report	1
Statement of Financial Position	2
Notes to the Financial Statements	3

Mike Chapman Carpets Limited Accountants' Report For the year ended 28 February 2026
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Mike Chapman Carpets Limited for the year ended 28 February 2026. In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mike Chapman Carpets Limited for the year ended 28 February 2026 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Mike Chapman Carpets Limited , as a body, in accordance with the terms of our engagement letter dated 24 September 2026. Our work has been undertaken solely to prepare for your approval the accounts of Mike Chapman Carpets Limited and state those matters that we have agreed to state to the Board of Directors of Mike Chapman Carpets Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mike Chapman Carpets Limited and its Board of Directors as a body for our work or for this report. It is your duty to ensure that Mike Chapman Carpets 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 Mike Chapman Carpets Limited . You consider that Mike Chapman Carpets 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 Mike Chapman Carpets 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 28 February 2026. .................................................... Kendall Accountancy Services Limited 2 Exeter Street Cottingham Hull East Yorkshire HU16 4LU 24 September 2026 1

Mike Chapman Carpets Limited
Accountants' Report
For the year ended 28 February 2026

Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Mike Chapman Carpets Limited for the year ended 28 February 2026.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mike Chapman Carpets Limited for the year ended 28 February 2026 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of Mike Chapman Carpets Limited , as a body, in accordance with the terms of our engagement letter dated 24 September 2026. Our work has been undertaken solely to prepare for your approval the accounts of Mike Chapman Carpets Limited and state those matters that we have agreed to state to the Board of Directors of Mike Chapman Carpets Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mike Chapman Carpets Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Mike Chapman Carpets 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 Mike Chapman Carpets Limited . You consider that Mike Chapman Carpets 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 Mike Chapman Carpets 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

28 February 2026.

....................................................
Kendall Accountancy Services Limited
2 Exeter Street
Cottingham
Hull
East Yorkshire
HU16 4LU
24 September 2026

1

Mike Chapman Carpets Limited
Statement of Financial Position
As at 28 February 2026

	Notes	2026 £	2025 £
Fixed assets
Tangible fixed assets	4	13,143	15,817
		13,143	15,817
Current assets
Debtors		4,116	615
Cash at bank and in hand		3,919	6,912
		8,035	7,527
Creditors: amount falling due within one year		(17,621)	(20,426)
Net current assets		(9,586)	(12,899)

Total assets less current liabilities		3,557	2,918
Creditors: amount falling due after more than one year		(9,234)	(12,254)
Provisions for liabilities		(237)	-
Net assets		(5,914)	(9,336)

Capital and reserves
Called up share capital	5	100	100
Profit and loss account		(6,014)	(9,436)
Shareholders' funds		(5,914)	(9,336)

For the year ended 28 February 2026 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 accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved by the board of directors on 24 September 2026 and were signed on its behalf by:

-------------------------------
Michael Chapman
Director

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Mike Chapman Carpets Limited
Notes to the Abridged Financial Statements
For the year ended 28 February 2026

General Information

Mike Chapman Carpets Limited is a private company, limited by shares, registered in England and Wales, registration number 11202406, registration address 2 Exeter Street, New Village Road, Cottingham, East Riding of Yorkshire, HU16 4LU.

The presentation currency is £ sterling.

1.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

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

Going concern basis

The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they 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 of accounting in preparing the financial statements.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Government grants

Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.

Operating lease rentals

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Finance lease and hire purchase charges

The finance element of the rental payment is charged to the income statement on a straight line basis.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 5 years.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery	25% Straight Line
Motor Vehicles	20% Reducing Balance
Fixtures and Fittings	10% Straight Line

Assets on finance lease and hire purchase

Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

2.	Average number of employees Average number of employees during the year was 4 (2025 : 3).

3.

Intangible fixed assets

Cost	Goodwill	Total
	£	£
At 01 March 2025	10,552	10,552
Additions	-	-
Disposals	-	-
At 28 February 2026	10,552	10,552
Amortisation
At 01 March 2025	10,552	10,552
Charge for year	-	-
On disposals	-	-
At 28 February 2026	10,552	10,552
Net book values
At 28 February 2026	-	-
At 28 February 2025	-	-

4.

Tangible fixed assets

Cost or valuation	Plant and Machinery	Motor Vehicles	Fixtures and Fittings	Total
	£	£	£	£
At 01 March 2025	3,375	18,482	1,019	22,876
Additions	-	450	-	450
Disposals	-	-	-	-
At 28 February 2026	3,375	18,932	1,019	23,326
Depreciation
At 01 March 2025	3,317	2,960	782	7,059
Charge for year	43	2,864	217	3,124
On disposals	-	-	-	-
At 28 February 2026	3,360	5,824	999	10,183
Net book values
Closing balance as at 28 February 2026	15	13,108	20	13,143
Opening balance as at 01 March 2025	58	15,522	237	15,817

5.

Share Capital

Allotted, called up and fully paid	2026 £		2025 £
100 Class A shares of £1.00 each	100		100
	100		100

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