Real Flooring Solutions Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07143106 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Real Flooring Solutions Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

2

Chartered Accountants' Report

5

FIXED ASSETS

Tangible assets

4

29,207

9,332

CURRENT ASSETS

Stocks

54,998

32,571

Debtors

5

175,733

108,887

230,731

141,458

CREDITORS

Amounts falling due within one year

6

147,481

101,584

NET CURRENT ASSETS

83,250

39,874

TOTAL ASSETS LESS CURRENT LIABILITIES

112,457

49,206

CREDITORS

Amounts falling due after more than one year

7

(50,609

)

(43,333

)

PROVISIONS FOR LIABILITIES

(5,464

)

(1,442

)

NET ASSETS

56,384

4,431

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

56,284

4,331

56,384

4,431

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 21 March 2024 and were signed on its behalf by:

Mrs A C Thompson - Director

1.	STATUTORY INFORMATION

Real Flooring Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

07143106

Registered office:

Richmond House

Lawnswood Business Park

Redvers Close

Leeds

West Yorkshire

LS16 6QY

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.

Going Concern

The directors are of the opinion, taking into account all the information that could reasonably be expected to be available to them, that it is appropriate to prepare the financial statements on a going concern basis, on the assumption of the continued support of the company's bankers, suppliers and directors. Should this not be the case, adjustments would have to be made to reduce the values of net assets to their recoverable amount, to provide for any further liabilities which may arise and to reclassify fixed assets as current assets.

Turnover

The company supplies and fits flooring for commercial, education and retail services. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Computer equipment

-

25% on cost

Stocks

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2022

24,972

-

2,315

27,287

Additions

-

25,015

-

25,015

At 31 March 2023

24,972

25,015

2,315

52,302

DEPRECIATION

At 1 April 2022

15,937

-

2,018

17,955

Charge for year

1,807

3,126

207

5,140

At 31 March 2023

17,744

3,126

2,225

23,095

NET BOOK VALUE

At 31 March 2023

7,228

21,889

90

29,207

At 31 March 2022

9,035

-

297

9,332

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

42,382

34,798

Other debtors

133,351

74,089

175,733

108,887

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

31,032

28,961

Trade creditors

64,196

34,946

Taxation and social security

46,573

34,229

Other creditors

5,680

3,448

147,481

101,584

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

33,333

43,333

Other creditors

17,276

-

50,609

43,333

8.	OTHER FINANCIAL COMMITMENTS

The total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £0 (2022 - £2,125).

9.	RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £122,754 (2022 - £69,625) by M & A Thompson, directors. The company has charged interest of £2,398 (2022 - £1,883) on these loans.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Real Flooring Solutions Ltd for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Real Flooring Solutions Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Real Flooring Solutions Ltd and state those matters that we have agreed to state to the Board of Directors of Real Flooring Solutions Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Real Flooring Solutions Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Real Flooring Solutions Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Real Flooring Solutions Ltd. You consider that Real Flooring Solutions Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Real Flooring Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Beaumonts

8 Navigation Court

Calder Park

Wakefield

West Yorkshire

WF2 7BJ

21 March 2024