L N C FLOOR COVERINGS LTD

L N C FLOOR COVERINGS LTD
Contents Page
For the year ended 31 October 2025

Statement of Financial Position	1
Notes to the Financial Statements	2

L N C FLOOR COVERINGS LTD
Statement of Financial Position
As at 31 October 2025

	Notes	2025 £	2024 £
Fixed assets
Tangible fixed assets	3	80,357	44,869
		80,357	44,869
Current assets
Stocks		75,000	49,500
Debtors		122,350	66,853
Cash at bank and in hand		43,607	19,537
		240,957	135,890
Creditors: amount falling due within one year		(72,437)	(53,936)
Net current assets		168,520	81,954

Total assets less current liabilities		248,877	126,823
Creditors: amount falling due after more than one year		(58,625)	(35,144)
Net assets		190,252	91,679

Capital and reserves
Called up share capital		100	100
Profit and loss account		190,152	91,579
Shareholders' funds		190,252	91,679

For the year ended 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 director on 28 October 2026 and were signed by:

-------------------------------
Lee Cunningham
Director

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L N C FLOOR COVERINGS LTD
Notes to the Abridged Financial Statements
For the year ended 31 October 2025

General Information

L N C FLOOR COVERINGS LTD is a private company, limited by shares, registered in , registration number 05549629, registration address UNIT 34 TY VERLON IND EST, CARDIFF ROAD , BARRY, WALES, CF63 2BE.

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.

Turnover

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

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

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:

Motor Vehicles	20% Reducing Balance
Fixtures and Fittings	10% Reducing Balance

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.	Average number of employees Average number of employees during the period was 5 (2024 : 5).

3.

Tangible fixed assets

Cost or valuation	Motor Vehicles	Fixtures and Fittings	Total
	£	£	£
At 01 November 2024	-	154,937	154,937
Additions	39,975	-	39,975
Disposals	-	-	-
At 31 October 2025	39,975	154,937	194,912
Depreciation
At 01 November 2024	-	110,068	110,068
Charge for year	-	4,487	4,487
On disposals	-	-	-
At 31 October 2025	-	114,555	114,555
Net book values
Closing balance as at 31 October 2025	39,975	40,382	80,357
Opening balance as at 01 November 2024	-	44,869	44,869

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