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 2023

Period of accounts

Start date: 01 May 2022

End date: 30 April 2023

UNIVERSAL FLOORING SPECIALISTS LTD

Contents of the Financial Statements

for the Period Ended 30 April 2023

Balance sheet
Notes

UNIVERSAL FLOORING SPECIALISTS LTD

Balance sheet

As at 30 April 2023


Notes
2023
2022


£
£
Fixed assets
Tangible assets: 3 62,631 38,841
Total fixed assets: 62,631 38,841
Current assets
Stocks: 57,244 85,451
Debtors:   1,867,837 949,373
Cash at bank and in hand: 159,088 121,171
Total current assets: 2,084,169 1,155,995
Creditors: amounts falling due within one year:   (1,707,181) (865,063)
Net current assets (liabilities): 376,988 290,932
Total assets less current liabilities: 439,619 329,773
Total net assets (liabilities): 439,619 329,773
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 439,519 329,673
Shareholders funds: 439,619 329,773

The notes form part of these financial statements

UNIVERSAL FLOORING SPECIALISTS LTD

Balance sheet statements

For the year ending 30 April 2023 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 22 October 2023
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 2023

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 i provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows Plant and Machinery 35 red bal

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 2023

2. Employees

2023 2022
Average number of employees during the period 3 3

UNIVERSAL FLOORING SPECIALISTS LTD

Notes to the Financial Statements

for the Period Ended 30 April 2023

3. Tangible Assets

Total
Cost £
At 01 May 2022 80,611
Additions 50,355
At 30 April 2023 130,966
Depreciation
At 01 May 2022 41,770
Charge for year 26,565
At 30 April 2023 68,335
Net book value
At 30 April 2023 62,631
At 30 April 2022 38,841