Carters Contract Flooring UK Limited - Accounts to registrar (filleted) - small 18.2
Carters Contract Flooring UK Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 January 2020 |
| for |
| CARTERS CONTRACT FLOORING UK LIMITED |
| CARTERS CONTRACT FLOORING UK LIMITED (REGISTERED NUMBER: 00400249) |
| Contents of the Financial Statements |
| for the year ended 31 January 2020 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Accountants' Report | 7 |
| CARTERS CONTRACT FLOORING UK LIMITED |
| Company Information |
| for the year ended 31 January 2020 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| Chartered Accountants |
| Aissela |
| 46 High Street |
| Esher |
| Surrey |
| KT10 9QY |
| CARTERS CONTRACT FLOORING UK LIMITED (REGISTERED NUMBER: 00400249) |
| Statement of Financial Position |
| 31 January 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 6 |
| Net current assets |
| Total assets less current liabilities |
| Capital and reserves |
| Called up share capital | 7 |
| Retained earnings |
| Shareholders' funds |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| CARTERS CONTRACT FLOORING UK LIMITED (REGISTERED NUMBER: 00400249) |
| Notes to the Financial Statements |
| for the year ended 31 January 2020 |
| 1. | Statutory information |
| Carters Contract Flooring UK Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis. The directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the Covid19 pandemic, the directors have 'stressed' their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of Covid19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. |
| Key source of estimation, uncertainty and judgement |
| The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. |
| (i) Useful economic lives of tangible assets |
| The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical, condition of the assets. |
| (ii) Stock provisioning |
| When calculating the stocks provision, management considers the nature and condition of the stock, as well as applying assumptions around anticipating saleability of finished goods. |
| (iii) Impairment of debtors |
| The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers multiple factors regarding their recoverability. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Improvements to property | - |
| Fixtures and fittings | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| CARTERS CONTRACT FLOORING UK LIMITED (REGISTERED NUMBER: 00400249) |
| Notes to the Financial Statements - continued |
| for the year ended 31 January 2020 |
| 2. | Accounting policies - continued |
| Financial instruments |
| Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
| Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
| Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the life of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. The annual instalments charged to the profit and loss account are fixed under the terms of the scheme and the company has no potential liability other than for the payment of these instalments. There were no outstanding or prepaid contributions at the year end. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| CARTERS CONTRACT FLOORING UK LIMITED (REGISTERED NUMBER: 00400249) |
| Notes to the Financial Statements - continued |
| for the year ended 31 January 2020 |
| 4. | Tangible fixed assets |
| Fixtures |
| Improvements | Plant and | and |
| to property | machinery | fittings | Totals |
| £ | £ | £ | £ |
| Cost |
| At 1 February 2019 |
| Additions |
| At 31 January 2020 |
| Depreciation |
| At 1 February 2019 |
| Charge for year |
| At 31 January 2020 |
| Net book value |
| At 31 January 2020 |
| At 31 January 2019 |
| 5. | Debtors: amounts falling due within one year |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Prepayments |
| 6. | Creditors: amounts falling due within one year |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Corporation tax payable |
| Social security and other taxes |
| Other creditors |
| Accrued expenses |
| Bank loans and overdrafts are secured over the assets of the company. |
| 7. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| A Ordinary | £1 | 1,000 | 1,000 |
| B Ordinary Shares | £1 | 1,000 | 1,000 |
| 2,000 | 2,000 |
| The above shares rank pari passu except that the B shareholders have no right to vote at general meetings. |
| CARTERS CONTRACT FLOORING UK LIMITED (REGISTERED NUMBER: 00400249) |
| Notes to the Financial Statements - continued |
| for the year ended 31 January 2020 |
| 8. | Related party disclosures |
| Carters (Furnishings) Limited, a company incorporated in England and Wales, is the immediate and ultimate parent company. There is no ultimate controlling party. |
| The company has taken advantage of exemptions within Financial Reporting Standard 102 (Section 1A) not to disclose transactions with wholly owned group undertakings. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Carters Contract Flooring UK Limited |
| 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 Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income 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 Carters Contract Flooring UK Limited for the year ended 31 January 2020 which comprise the Statement of Comprehensive Income, Statement of Financial Position, 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Carters Contract Flooring UK 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 Carters Contract Flooring UK Limited and state those matters that we have agreed to state to the Board of Directors of Carters Contract Flooring UK Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Carters Contract Flooring UK Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Carters Contract Flooring UK 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 Carters Contract Flooring UK Limited. You consider that Carters Contract Flooring UK 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 Carters Contract Flooring UK 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. |
| Chartered Accountants |
| Aissela |
| 46 High Street |
| Esher |
| Surrey |
| KT10 9QY |