Kennington Flooring Limited - Filleted accounts


KENNINGTON FLOORING LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
28 FEBRUARY 2025



































Company Registration Number: 04978225

KENNINGTON FLOORING LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025


CONTENTS									PAGES



Company information									1

Balance sheet									2 to 3

Notes to the financial statements									4 to 11

KENNINGTON FLOORING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2025


DIRECTORS

D A Rist
P K Rist
resigned 12 August 2025
J J Harrison
S M P O'Driscoll
resigned 12 August 2025


SECRETARY

P K Rist
resigned 12 August 2025
D A Rist
appointed 12 August 2025


REGISTERED OFFICE

C9 Glyme Court
Oxford Office Village
Langford Lane
Kidlington
Oxford
OX5 1LQ


COMPANY REGISTRATION NUMBER

04978225 England and Wales

KENNINGTON FLOORING LIMITED

BALANCE SHEET
AS AT 28 FEBRUARY 2025


	Notes	2025		2024
		£		£

FIXED ASSETS
Tangible assets	6		97,716		124,851
Investments	7		60,056		60,056


			157,772		184,907

CURRENT ASSETS
Stock		153,606		154,037
Debtors	8	687,915		550,778
Cash at bank and in hand		63,673		3,576


		905,194		708,391

CREDITORS: Amounts falling due within one year	9	469,207		412,617
CREDITORS: Amounts falling due within one year


NET CURRENT ASSETS			435,987		295,774


TOTAL ASSETS LESS CURRENT LIABILITIES			593,759		480,681

Provisions for liabilities and charges			19,347		18,388


NET ASSETS			574,412		462,293


CAPITAL AND RESERVES
Called up share capital			150		150
Distributable profit and loss account			574,262		462,143


SHAREHOLDERS' FUNDS			574,412		462,293

KENNINGTON FLOORING LIMITED

BALANCE SHEET
AS AT 28 FEBRUARY 2025


These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

Members have not required the company to obtain an audit in accordance with section 476 of the Act.

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.

As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.


Signed on behalf of the board of directors




D A Rist
Director

Date approved by the board: 27 November 2025

KENNINGTON FLOORING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025


1	GENERAL INFORMATION

	Kennington Flooring Limited is a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business are:

	Registered office	Principal place of business
	C9 Glyme Court	Units 2 & 3
	Oxford Office Village	Chancerygate Business Centre
	Langford Lane	Transport Way
	Kidlington	Cowley
	Oxford	Oxford
	OX5 1LQ	OX4 6HE

	The financial statements are presented in Sterling, which is the functional currency of the company.

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	Basis of preparation of financial statements

	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.

	Revenue recognition

	Turnover is measured at the fair value of consideration received or receivable and represents the value of flooring supplied and installed, stated net of trade discounts and value added tax. Revenue is recognised when the flooring has been delivered and installed. However, if there is no installation arrangement, revenue is recognised upon supply of the flooring, stated net of trade discounts and value added tax.

	The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.


	Intangible fixed assets

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. At acquisition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses.

	Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual value assumed to be zero, over its useful economic life, which is estimated to be 20 years.

	If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations.

KENNINGTON FLOORING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Tangible fixed assets

	Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

	Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.

	Alterations to leasehold					Straight line basis at 5% per annum
	Plant and machinery					Reducing balance basis at 25% per annum
	Office equipment					Reducing balance basis at 25% per annum
	Motor vehicles					Reducing balance basis at 25% per annum

	On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.

	Investments

	Investments in subsidiaries are shown at cost less accumulated impairment losses.

	Financial Instruments

	A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

	The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

	Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through the profit and loss account.

	Basic financial assets and financial liabilities are initially recognised at transaction price and measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. They are subsequently carried at their amortised cost using the effective interest rate method, less any provision for impairment. If the effect of the time value of money is immaterial, they are measured at cost less impairment.

	Basic financial assets and liabilities which are measured at cost or amortised cost are reviewed for objective impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the profit and loss account immediately.

Any reversals of impairment are recognised in the profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset or liability which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.


	Financing transactions are measured at the present value of the future receipts discounted at a market rate of interest. They are subsequently measured at amortised costs using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

KENNINGTON FLOORING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Impairment of non-financial assets

	At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.

	Stocks are assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group of similar items, is impaired its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the profit and loss account.

	If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.


	Stock

	Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a first in first out basis.

	The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.


	Debtors

	Short term debtors are measured at transaction price, less any impairment.

	Creditors

	Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.

	Leases

	Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.

	Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.

KENNINGTON FLOORING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Taxation

	Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.

	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.

	Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

	Current and deferred tax assets and liabilities are not discounted.

	Pensions

	The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.

	Employee benefits

	Short term employee benefits are recognised as an expense in the period in which they are incurred.

	Consolidation

	The company is a parent company subject to the small companies regime. The company and its subsidiaries comprise a small group. The company has therefore taken advantage of the option provided by section 399 of the Companies Act 2006 not to prepare group accounts.

3	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

	No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.

KENNINGTON FLOORING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

4	EMPLOYEES

	The average number of persons employed by the company (including directors) during the year was:

		2025	2024
	Average number of employees	25	24


5	INTANGIBLE FIXED ASSETS
			Goodwill
			£
	Cost
	At 1 March 2024		450,000


	At 28 February 2025		450,000


	Accumulated amortisation and impairments
	At 1 March 2024		450,000


	At 28 February 2025		450,000


	Net book value
	At 1 March 2024		-


	At 28 February 2025		-

KENNINGTON FLOORING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025


6	TANGIBLE ASSETS
		Alterations to leasehold		Plant and machinery	Office equipment	Motor vehicles		Total
			£	£	£	£		£
	Cost
	At 1 March 2024		204,483	32,348	14,867	181,620		433,318

	Additions		-	-	833	-		833


	At 28 February 2025		204,483	32,348	15,700	181,620		434,151


	Accumulated depreciation and impairments
	At 1 March 2024		150,403	30,172	9,393	118,499		308,467

	Charge for year		10,224	544	1,420	15,780		27,968


	At 28 February 2025		160,627	30,716	10,813	134,279		336,435


	Net book value
	At 1 March 2024		54,080	2,176	5,474	63,121		124,851


	At 28 February 2025		43,856	1,632	4,887	47,341		97,716


7	FIXED ASSET INVESTMENTS
							Investment in subsidiary undertakings
								£
	Cost
	At 1 March 2024							60,056


	At 28 February 2025							60,056


	Net book value
	At 1 March 2024							60,056


	At 28 February 2025							60,056


8	DEBTORS
						2025		2024
						£		£
	Trade debtors					455,739		331,221
	Prepayments and accrued income					8,045		9,692
	Other debtors					224,131		209,865


						687,915		550,778

KENNINGTON FLOORING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025


9	CREDITORS: Amounts falling due within one year
					2025	2024
					£	£
	Bank loans and overdrafts				-	125,122
	Trade creditors				180,339	132,314
	Taxation and social security				58,716	59,249
	Accruals and deferred income				21,368	6,363
	Other creditors				208,784	89,569


					469,207	412,617


10	SECURED DEBTS

	The company's bankers hold fixed and floating charges over the assets of the company.

11	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

	The following director's advances, credits and guarantees took place during the year:

		Balance at 1 March 2024	Amounts advanced	Amounts repaid	Amounts written off or waived	Balance at 28 February 2025
		£	£	£	£	£
	D A Rist	66,490	14,589	70,636	-	10,443

	Interest has been charged on this advance at the Beneficial Loan Arrangement Official Rate as prescribed by HM Revenue and Customs. The advance is repayable on demand.

KENNINGTON FLOORING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

12	RELATED PARTY TRANSACTIONS

	The company has claimed exemptions from reporting disclosure of related party transactions with the following wholly owned group members:

	ACH Flooring Services Ltd.		Subsidiary
	Vale Curtains and Blinds Limited		Subsidiary

	During the year, the following transactions with related parties took place:
				2025	2024
				£	£

	P K Rist
	Director and shareholder

	Advances to company	The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount:		182,858	65,413