Oriental Carpet Centre Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 02752174 (England and Wales)

ORIENTAL CARPET CENTRE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2022

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Azizollahoff

Mr J M Samad

Ms S M Kelaty

SECRETARY:

Mr J M Samad

REGISTERED OFFICE:

Second Floor

34 Lime Street

London

EC3M 7AT

REGISTERED NUMBER:

02752174 (England and Wales)

ACCOUNTANTS:

Sinclairs Bartrum Lerner

Chartered Accountants

Second Floor

34 Lime Street

London

EC3M 7AT

CURRENT ASSETS

Debtors

4

85,434

101,265

Cash at bank

432,997

363,302

518,431

464,567

CREDITORS

Amounts falling due within one year

5

45,190

31,455

NET CURRENT ASSETS

473,241

433,112

TOTAL ASSETS LESS CURRENT LIABILITIES

473,241

433,112

CAPITAL AND RESERVES

Called up share capital

6

914

914

Retained earnings

7

472,327

432,198

SHAREHOLDERS' FUNDS

473,241

433,112

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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 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.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 14th November 2022 and were signed on its behalf by:

Mr J Azizollahoff - Director

Mr J M Samad - Director

1.	STATUTORY INFORMATION

Oriental Carpet Centre 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 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.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

16,000

31,000

Amounts owed by group undertakings

59,549

59,549

Other debtors

9,885

10,716

85,434

101,265

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Amounts owed to group undertakings

728

728

Taxation and social security

9,413

376

Other creditors

35,049

30,351

45,190

31,455

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

914

Ordinary

£1

914

914

7.

RESERVES

Retained

earnings

£

At 1st April 2021

432,198

Profit for the year

40,129

At 31st March 2022

472,327

8.	ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking is OCC Property Holdings Limited incorporated in England & Wales. The registered office is Second floor, 34 Lime Street, London, EC3M 7AT.