Hurren & Glynn Carpets and Flooring Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06847081 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2021

FOR

HURREN & GLYNN CARPETS AND FLOORING

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Watson

Mrs J Watson

SECRETARY:

PP Secretaries Limited

REGISTERED OFFICE:

110-114 Portland Road

Hove

East Sussex

BN3 5DN

REGISTERED NUMBER:

06847081 (England and Wales)

ACCOUNTANTS:

Parkers

Cornelius House

178-180 Church Road

Hove

East Sussex

BN3 2DJ

FIXED ASSETS

Intangible assets

4

87,500

105,000

Tangible assets

5

3,169

3,415

90,669

108,415

CURRENT ASSETS

Stocks

3,681

3,209

Debtors

6

83,728

91,996

Cash at bank and in hand

77,446

3,425

164,855

98,630

CREDITORS

Amounts falling due within one year

7

72,696

96,096

NET CURRENT ASSETS

92,159

2,534

TOTAL ASSETS LESS CURRENT LIABILITIES

182,828

110,949

CREDITORS

Amounts falling due after more than one year

8

(42,500

)

(32,208

)

PROVISIONS FOR LIABILITIES

(602

)

(649

)

NET ASSETS

139,726

78,092

CAPITAL AND RESERVES

Called up share capital

9

50

50

Capital redemption reserve

50

50

Retained earnings

139,626

77,992

SHAREHOLDERS' FUNDS

139,726

78,092

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2021 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 by the Board of Directors and authorised for issue on 21st July 2021 and were signed on its behalf by:

R Watson - Director

1.	STATUTORY INFORMATION

Hurren & Glynn Carpets and Flooring 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.

Significant judgements and estimates

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Government grants

Government grants are recorded on the accruals basis and are released to the profit and loss account on receipt.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

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.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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 profit or loss.

Stock is also 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 costs 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 profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2020

and 31st March 2021

175,000

AMORTISATION

At 1st April 2020

70,000

Amortisation for year

17,500

At 31st March 2021

87,500

NET BOOK VALUE

At 31st March 2021

87,500

At 31st March 2020

105,000

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1st April 2020

15,021

1,800

16,821

Additions

333

-

333

At 31st March 2021

15,354

1,800

17,154

DEPRECIATION

At 1st April 2020

11,779

1,627

13,406

Charge for year

536

43

579

At 31st March 2021

12,315

1,670

13,985

NET BOOK VALUE

At 31st March 2021

3,039

130

3,169

At 31st March 2020

3,242

173

3,415

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

77,333

85,601

Other debtors

6,395

6,395

83,728

91,996

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

7,500

34,136

Trade creditors

19,088

26,218

Taxation and social security

39,922

25,867

Other creditors

6,186

9,875

72,696

96,096

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

42,500

32,208

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,500

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

40

Ordinary

£1

40

40

10

Ordinary A

£1

10

10

50

50