Ladyship Carpets Limited Accounts

Ladyship Carpets Limited Accounts

LADYSHIP CARPETS LIMITED - Company Information

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Ladyship Carpets Limited Filleted Accounts Cover
Ladyship Carpets Limited
Company No. 08127816
Information for Filing with The Registrar
30 June 2021
Ladyship Carpets Limited Directors Report Registrar
The Director presents his report and the accounts for the year ended 30 June 2021.
Principal activities
The principal activity of the company during the year under review was .
the distribution of carpets.
Director
The Director who served at any time during the year was as follows:
D.C. Hughes
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
D.C. Hughes
Director
04 March 2022
Ladyship Carpets Limited Balance Sheet Registrar
at
30 June 2021
Company No.
08127816
Notes
2021
2020
£
£
Fixed assets
Tangible assets
4
3,6028,392
3,6028,392
Current assets
Stocks
5
30,53029,113
Debtors
6
12,3758,468
Cash at bank and in hand
6,371-
49,27637,581
Creditors: Amount falling due within one year
7
(37,753)
(97,060)
Net current assets/(liabilities)
11,523
(59,479)
Total assets less current liabilities
15,125
(51,087)
Creditors: Amounts falling due after more than one year
8
(48,024)
-
Net liabilities
(32,899)
(51,087)
Capital and reserves
Called up share capital
11
Profit and loss account
9
(32,900)
(51,088)
Total equity
(32,899)
(51,087)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 30 June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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 section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 04 March 2022
And signed on its behalf by:
D.C. Hughes
Director
04 March 2022
Ladyship Carpets Limited Notes to the Accounts Registrar
for the year ended 30 June 2021
1
General information
Its registered number is: 08127816
Its registered office is:
Unit B3 Ladyship Mills
Old Lane
Halifax
West Yorkshire
HX3 5QN
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
Going concern
The accounts have been drawn up on the going concern basis and the company is reliant upon the continued support of the director who has agreed to rank after unsecured creditors in the event of a winding up.If the going concern basis were not appropriate adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Plant and machinery
20% Straight line
Motor vehicles
25% Straight line
3
Employees
2021
2020
Number
Number
The average monthly number of employees (including directors) during the year was:
55
4
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost or revaluation
At 1 July 2020
16,1595,68621,845
At 30 June 2021
16,1595,68621,845
Depreciation
At 1 July 2020
12,0321,42113,453
Charge for the year
3,3691,4214,790
At 30 June 2021
15,4012,84218,243
Net book values
At 30 June 2021
7582,8443,602
At 30 June 2020
4,1274,2658,392
5
Stocks
2021
2020
£
£
Finished goods
30,53029,113
30,53029,113
6
Debtors
2021
2020
£
£
Trade debtors
6,5778,468
Other debtors
5,798-
12,3758,468
7
Creditors:
amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
1,97627,106
Obligations under finance lease and hire purchase contracts
2471,284
Trade creditors
18,96345,143
Amounts owed to group undertakings
13,77720,350
Other taxes and social security
2,5502,549
Other creditors
240628
37,75397,060
8
Creditors:
amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
48,024-
48,024-
Liabilities repayable in more than five years after the balance sheet date
Amount repayable by instalments
26,919
26,919
9
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
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