Company No: 07193645 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	C L Smith
	G P Smith
	H B Smith
	M J Smith

REGISTERED OFFICE	91 High Street
	Cottenham
	Cambridge
	CB24 8SD
	United Kingdom

COMPANY NUMBER

07193645 (England and Wales)

CHARTERED ACCOUNTANTS	Peters Elworthy & Moore
	Salisbury House
	Station Road
	Cambridge
	CB1 2LA

	Note	2023		2022
		£		£
Fixed assets
Intangible assets	3	20,000		30,000
Tangible assets	4	77,002		29,388
		97,002		59,388
Current assets
Stocks	5	90,619		103,000
Debtors	6	45,249		35,560
Cash at bank and in hand		446,983		295,816
		582,851		434,376
Creditors: amounts falling due within one year	7	( 454,523)		( 409,790)
Net current assets		128,328		24,586
Total assets less current liabilities		225,330		83,974
Creditors: amounts falling due after more than one year	8	( 34,264)		( 39,815)
Provision for liabilities	9	( 14,750)		( 2,516)
Net assets		176,316		41,643
Capital and reserves
Called-up share capital	10	120		120
Capital redemption reserve		50		50
Profit and loss account		176,146		41,473
Total shareholders' funds		176,316		41,643

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Dentons Carpets Limited (registered number: 07193645) were approved and authorised for issue by the Board of Directors on 18 December 2023. They were signed on its behalf by:

G P Smith Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Company is a private company limited by shares and is incorporated in England and Wales. The registered office is 91 High Street, Cottenham, Cambridge, CB24 8SD.

The Company's functional and presentational currency is GBP.

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Taxation

Current tax
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax
Deferred tax balances are recognised in respect of all timing differences that have originated but not
reversed by the balance sheet date, except that:
• The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
• Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

15 years straight line

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and Loss Account over its useful economic life.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Vehicles	4 years straight line
Fixtures and fittings	10 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Leases

The Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Trade and other debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Trade and other creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2023		2022
	Number		Number
The average monthly number of employees, including directors, during the year was	11		11

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2022	150,000		150,000
At 31 March 2023	150,000		150,000
Accumulated amortisation
At 01 April 2022	120,000		120,000
Charge for the financial year	10,000		10,000
At 31 March 2023	130,000		130,000
Net book value
At 31 March 2023	20,000		20,000
At 31 March 2022	30,000		30,000

4. Tangible assets

	Vehicles		Fixtures and fittings		Total
	£		£		£
Cost
At 01 April 2022	95,496		17,248		112,744
Additions	40,205		15,966		56,171
At 31 March 2023	135,701		33,214		168,915
Accumulated depreciation
At 01 April 2022	73,862		9,494		83,356
Charge for the financial year	6,463		2,094		8,557
At 31 March 2023	80,325		11,588		91,913
Net book value
At 31 March 2023	55,376		21,626		77,002
At 31 March 2022	21,634		7,754		29,388

5. Stocks

	2023		2022
	£		£
Stocks	69,493		81,000
Work in progress	21,126		22,000
	90,619		103,000

6. Debtors

	2023		2022
	£		£
Trade debtors	37,168		24,239
Other debtors	8,081		11,321
	45,249		35,560

7. Creditors: amounts falling due within one year

	2023		2022
	£		£
Bank loans	5,551		5,556
Trade creditors	113,545		112,138
Taxation and social security	99,105		78,977
Other creditors	236,322		213,119
	454,523		409,790

Bank loans represents a Government backed 'bounce back' loan which was drawn down in June 2020. The loan is 100% guaranteed by the Government and there were no fees or interest payable by the Company in the first 12 months. After the initial 12 month interest free period, interest is charged at 2.5% per annum.

8. Creditors: amounts falling due after more than one year

	2023		2022
	£		£
Bank loans	34,264		39,815

Bank loans represents a Government backed 'bounce back' loan which was drawn down in June 2020. The loan is 100% guaranteed by the Government and there were no fees or interest payable by the Company in the first 12 months. After the initial 12 month interest free period, interest is charged at 2.5% per annum.

9. Deferred tax

	2023		2022
	£		£
At the beginning of financial year	( 2,516)		0
Charged to the Profit and Loss Account	( 12,234)		( 2,516)
At the end of financial year	( 14,750)		( 2,516)

10. Called-up share capital

	2023		2022
	£		£
Allotted, called-up and fully-paid
50 Ordinary shares shares of £ 1.00 each	50		50
50 B shares ordinary shares of £ 1.00 each	50		50
10 C shares ordinary shares of £ 1.00 each	10		10
10 D shares ordinary shares of £ 1.00 each	10		10
	120		120

11. Financial commitments

Total financial commitments, guarantees and contingencies that are not included in the balance sheet amount to £88,000 (2022 - £104,500).