The Really Safe Flooring Company Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 03901420 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

THE REALLY SAFE FLOORING COMPANY LIMITED

T/A SLIPTECH

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A R A Wheatley

Mrs R H Wheatley

P Symons

SECRETARY:

Mrs R H Wheatley

REGISTERED OFFICE:

The Lodge, Beacon End Farmhouse

London Road

Stanway

Colchester

Essex

CO3 0NQ

REGISTERED NUMBER:

03901420 (England and Wales)

ACCOUNTANTS:

RE Group Accountants Limited

Chartered Certified Accountants

The Maltings

Rosemary Lane

Halstead

Essex

CO9 1HZ

FIXED ASSETS

Intangible assets

3

-

-

Tangible assets

4

44,808

46,506

44,808

46,506

CURRENT ASSETS

Stocks

29,968

24,499

Debtors

5

182,071

133,980

Cash at bank and in hand

139,760

172,635

351,799

331,114

CREDITORS

Amounts falling due within one year

6

250,278

285,624

NET CURRENT ASSETS

101,521

45,490

TOTAL ASSETS LESS CURRENT LIABILITIES

146,329

91,996

CREDITORS

Amounts falling due after more than one year

7

(29,172

)

(39,172

)

PROVISIONS FOR LIABILITIES

(8,514

)

-

NET ASSETS

108,643

52,824

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

108,642

52,823

108,643

52,824

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 by the Board of Directors and authorised for issue on 27 June 2023 and were signed on its behalf by:

A R A Wheatley - Director

1.	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.

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.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2021 - 14 ) .

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2022

and 31 December 2022

50,000

AMORTISATION

At 1 January 2022

and 31 December 2022

50,000

NET BOOK VALUE

At 31 December 2022

-

At 31 December 2021

-

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2022

174,161

Additions

14,472

Disposals

(15,995

)

At 31 December 2022

172,638

DEPRECIATION

At 1 January 2022

127,655

Charge for year

12,374

Eliminated on disposal

(12,199

)

At 31 December 2022

127,830

NET BOOK VALUE

At 31 December 2022

44,808

At 31 December 2021

46,506

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

176,240

129,795

Other debtors

5,831

4,185

182,071

133,980

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

13,613

16,413

Taxation and social security

68,099

93,585

Other creditors

158,566

165,626

250,278

285,624

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

29,172

39,172