UNIVERSAL FLOORING SPECIALISTS LTD

UNIVERSAL FLOORING SPECIALISTS LTD

UNIVERSAL FLOORING SPECIALISTS LTD - Company Information

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UNIVERSAL FLOORING SPECIALISTS LTD

Company Registration Number:
09557303 (England and Wales)

Unaudited abridged accounts for the year ended 30 April 2021

Period of accounts

Start date: 01 May 2020

End date: 30 April 2021

UNIVERSAL FLOORING SPECIALISTS LTD

Contents of the Financial Statements

for the Period Ended 30 April 2021

Balance sheet
Notes

UNIVERSAL FLOORING SPECIALISTS LTD

Balance sheet

As at 30 April 2021


Notes
2021
2020


£
£
Fixed assets
Tangible assets: 3 5,258 18,795
Total fixed assets: 5,258 18,795
Current assets
Stocks: 48,431 72,886
Debtors:   250,343 969,689
Cash at bank and in hand: 389,162 10,481
Total current assets: 687,936 1,053,056
Creditors: amounts falling due within one year:   (474,196) (976,359)
Net current assets (liabilities): 213,740 76,697
Total assets less current liabilities: 218,998 95,492
Total net assets (liabilities): 218,998 95,492
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 218,898 95,392
Shareholders funds: 218,998 95,492

The notes form part of these financial statements

UNIVERSAL FLOORING SPECIALISTS LTD

Balance sheet statements

For the year ending 30 April 2021 the company was entitled to exemption 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 Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 26 November 2021
and signed on behalf of the board by:

Name: Mr R Franklin
Status: Director

The notes form part of these financial statements

UNIVERSAL FLOORING SPECIALISTS LTD

Notes to the Financial Statements

for the Period Ended 30 April 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible fixed assets and depreciation policy

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:P&M - 35% reducing balance

Valuation and information policy

Inventories have been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished good , cost includes a relevant proportion of overheads according to the stage of manufacture / completion.

Other accounting policies

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

UNIVERSAL FLOORING SPECIALISTS LTD

Notes to the Financial Statements

for the Period Ended 30 April 2021

2. Employees

2021 2020
Average number of employees during the period 3 2

UNIVERSAL FLOORING SPECIALISTS LTD

Notes to the Financial Statements

for the Period Ended 30 April 2021

3. Tangible Assets

Total
Cost £
At 01 May 2020 28,948
At 30 April 2021 28,948
Depreciation
At 01 May 2020 10,153
Charge for year 13,537
At 30 April 2021 23,690
Net book value
At 30 April 2021 5,258
At 30 April 2020 18,795