High Duty Flooring Warehouse Limited Company Accounts

HIGH DUTY FLOORING WAREHOUSE LIMITED - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2016-10-01 Sage Accounts Production Advanced 2017 Update 4 - FRS xbrli:pure xbrli:shares iso4217:GBP 00855520 2016-10-01 2017-09-30 00855520 2017-09-30 00855520 2016-09-30 00855520 2015-10-01 2016-09-30 00855520 2016-09-30 00855520 core:PlantMachinery 2016-10-01 2017-09-30 00855520 core:FurnitureFittings 2016-10-01 2017-09-30 00855520 core:MotorVehicles 2016-10-01 2017-09-30 00855520 bus:RegisteredOffice 2016-10-01 2017-09-30 00855520 bus:LeadAgentIfApplicable 2016-10-01 2017-09-30 00855520 bus:Director5 2016-10-01 2017-09-30 00855520 bus:Director6 2016-10-01 2017-09-30 00855520 bus:CompanySecretary1 2016-10-01 2017-09-30 00855520 core:PlantMachinery 2016-09-30 00855520 core:FurnitureFittings 2016-09-30 00855520 core:MotorVehicles 2016-09-30 00855520 core:PlantMachinery 2017-09-30 00855520 core:FurnitureFittings 2017-09-30 00855520 core:MotorVehicles 2017-09-30 00855520 core:WithinOneYear 2017-09-30 00855520 core:WithinOneYear 2016-09-30 00855520 core:ShareCapital 2017-09-30 00855520 core:ShareCapital 2016-09-30 00855520 core:RetainedEarningsAccumulatedLosses 2017-09-30 00855520 core:RetainedEarningsAccumulatedLosses 2016-09-30 00855520 core:PlantMachinery 2016-09-30 00855520 core:FurnitureFittings 2016-09-30 00855520 core:MotorVehicles 2016-09-30 00855520 bus:FRS102 2016-10-01 2017-09-30 00855520 bus:AuditExemptWithAccountantsReport 2016-10-01 2017-09-30 00855520 bus:FullAccounts 2016-10-01 2017-09-30 00855520 bus:SmallCompaniesRegimeForAccounts 2016-10-01 2017-09-30 00855520 bus:PrivateLimitedCompanyLtd 2016-10-01 2017-09-30

COMPANY REGISTRATION NUMBER: 00855520

High Duty Flooring Warehouse Limited

Filleted Unaudited Financial Statements

30 September 2017

High Duty Flooring Warehouse Limited

Financial Statements

Year ended 30 September 2017

Contents	Page

Officers and professional advisers	1

Report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

High Duty Flooring Warehouse Limited

Officers and Professional Advisers

The board of directors	J E Page
	Mrs C Page

Company secretary	Mrs H L Khaira

Registered office	17-19 Station Road West
	Oxted
	Surrey
	UK
	RH8 9EE

Accountants	Baulf-James
	Chartered accountant
	17-19 Station Road West
	Oxted
	Surrey
	RH8 9EE

High Duty Flooring Warehouse Limited

Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of High Duty Flooring Warehouse Limited

Year ended 30 September 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of High Duty Flooring Warehouse Limited for the year ended 30 September 2017, which comprise the statement of financial position 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the Board of Directors of High Duty Flooring Warehouse Limited, as a body, in accordance with the terms of our engagement letter dated 5 July 2010. Our work has been undertaken solely to prepare for your approval the financial statements of High Duty Flooring Warehouse Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than High Duty Flooring Warehouse Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that High Duty Flooring Warehouse Limited 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 High Duty Flooring Warehouse Limited. You consider that High Duty Flooring Warehouse Limited 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 High Duty Flooring Warehouse Limited. 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.

Baulf-James Chartered accountant

17-19 Station Road West Oxted Surrey RH8 9EE

7 June 2018

High Duty Flooring Warehouse Limited

Statement of Financial Position

30 September 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	5		5,711	7,127

Current assets

Stocks		15,442	14,164
Debtors	6	55,053	65,322
Cash at bank and in hand		30,616	26,873
		---------	---------
		101,111	106,359

Creditors: amounts falling due within one year	7	60,737		84,076
		---------		---------
Net current assets			40,374	22,283
			--------	--------
Total assets less current liabilities			46,085	29,410

Provisions

Taxation including deferred tax	507	930
	--------	--------
Net assets	45,578	28,480
	--------	--------

Capital and reserves

Called up share capital	2,000	2,000
Profit and loss account	43,578	26,480
	--------	--------
Shareholders funds	45,578	28,480
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2017 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

High Duty Flooring Warehouse Limited

Statement of Financial Position (continued)

30 September 2017

These financial statements were approved by the board of directors and authorised for issue on 7 June 2018 , and are signed on behalf of the board by:

J E Page

Director

Company registration number: 00855520

High Duty Flooring Warehouse Limited

Notes to the Financial Statements

Year ended 30 September 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17-19 Station Road West, Oxted, Surrey, RH8 9EE, UK.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 October 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Corporation tax

The taxation expense represents the aggregate amount of current and deferred corporation tax recognised in the reporting period. Corporation tax is calculated on the taxable profit or loss. Deferred tax is recognised in respect of all timing differences at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & machinery	-	25% reducing balance
Fixtures & equipment	-	15% reducing balance
Motor vehicles	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Defined contribution plans

Pension contributions paid are paid to a defined contributions scheme.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2016: 5 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 October 2016 and 30 September 2017	10,799	51,387	19,000	81,186
	--------	--------	--------	--------
Depreciation
At 1 October 2016	9,648	47,728	16,683	74,059
Charge for the year	288	549	579	1,416
	--------	--------	--------	--------
At 30 September 2017	9,936	48,277	17,262	75,475
	--------	--------	--------	--------
Carrying amount
At 30 September 2017	863	3,110	1,738	5,711
	--------	--------	--------	--------
At 30 September 2016	1,151	3,659	2,317	7,127
	--------	--------	--------	--------

There is a fixed and floating charge over the assets of the company registered at companies house.

6. Debtors

	2017	2016
	£	£
Trade debtors	53,061	63,030
Other debtors	1,992	2,292
	--------	--------
	55,053	65,322
	--------	--------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	23,502	33,849
Corporation tax	8,128	2,952
Social security and other taxes	6,579	7,074
Other creditors	22,528	40,201
	--------	--------
	60,737	84,076
	--------	--------

8. Related party transactions

The company's controlling shareholder was J E Page .

9. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 October 2015.

No transitional adjustments were required in equity or profit or loss for the year.