Metric Carpets of Norfolk Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07554079 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2018

FOR

METRIC CARPETS OF NORFOLK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

5

DIRECTORS:

A C Allen

G R Allen

REGISTERED OFFICE:

11 King Street

Kings Lynn

Norfolk

PE30 1ET

BUSINESS ADDRESS:

39 East Winch Road

Ashwicken

Kings Lynn

Norfolk

PE32 1LX

REGISTERED NUMBER:

07554079 (England and Wales)

ACCOUNTANTS:

Aston Shaw

Chartered Certified Accountants

11 King Street

King's Lynn

Norfolk

PE30 1ET

CURRENT ASSETS

Debtors

4

63,994

33,046

Cash at bank

2,260

5,542

66,254

38,588

CREDITORS

Amounts falling due within one year

5

59,563

37,687

NET CURRENT ASSETS

6,691

901

TOTAL ASSETS LESS CURRENT LIABILITIES

6,691

901

CAPITAL AND RESERVES

Called up share capital

6

300

300

Retained earnings

7

6,391

601

SHAREHOLDERS' FUNDS

6,691

901

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 29 April 2019 and were signed on its behalf by:

A C Allen - Director

1.	STATUTORY INFORMATION

Metric Carpets of Norfolk Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

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 represents net invoiced sales of services, excluding value added tax.

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.

Going concern

These financial statements have been prepared on the going concern basis. The directors have considered this

basis to be appropriate but have not assessed a period in excess of 12 months from the date of approving the

accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 4 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

£

Trade debtors

1,880

435

Work done not billed

8,273

5,805

Related party (see note 9)

53,841

26,806

63,994

33,046

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

£

Trade creditors

174

36

Corporation tax

15,960

10,439

Social security and other taxes

545

1,215

Other creditors

1,538

3,049

Directors' current account

39,042

21,248

Accrued expenses

2,304

1,700

59,563

37,687

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.18

31.7.17

value:

£

£

100

Ordinary A

£1

100

100

100

Ordinary B

£1

100

100

100

Ordinary C

£1

100

100

300

300

7.

RESERVES

Retained

earnings

£

At 1 August 2017

601

Profit for the year

45,790

Dividends

(40,000

)

At 31 July 2018

6,391

8.	RELATED PARTY DISCLOSURES

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Metric Carpets of Norfolk Limited for the year ended 31 July 2018 which comprise the Income

Statement, Balance Sheet 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Metric Carpets of Norfolk Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Metric Carpets of Norfolk Limited and state those matters that we have agreed to state to the Board of Directors of Metric Carpets of Norfolk Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Metric Carpets of Norfolk Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Metric Carpets of Norfolk Limited. You consider that Metric Carpets of Norfolk 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 financial statements of Metric Carpets of Norfolk 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 financial statements.

Aston Shaw

Chartered Certified Accountants

11 King Street

King's Lynn

Norfolk

PE30 1ET

29 April 2019