Floortech Industries UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08447722 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2018

FOR

FLOORTECH INDUSTRIES UK LIMITED

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

6

DIRECTORS:

Mr A Blay

Mr A Lehane

REGISTERED OFFICE:

18 Thames Trading Estate

Woodrow Way

Irlam

Manchester

M44 6BE

REGISTERED NUMBER:

08447722 (England and Wales)

ACCOUNTANTS:

Cadishead Accountancy Services Limited

Britannic House

657 Liverpool Road

Irlam

Manchester

Lancashire

M44 5XD

BANKERS:

HSBC Bank Plc

11 Stamford New Road

Altrincham

Cheshire

WA14 1BW

The directors present their report with the financial statements of the company for the year ended 31st March 2018.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the supply and installation of flooring.

DIRECTORS

The directors set out in the table below have held office during the whole of the period from 1st April 2017 to the date of

this report.

The beneficial interests of the directors holding office at 31st March 2018 in the shares of the company, according to the

register of directors' interests, were as follows:

31.3.18

1.4.17

Ordinary shares of £1 each

Mr A Blay

400

400

Mr A Lehane

600

600

These directors did not hold any non-beneficial interests in the shares of the company.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mr A Blay - Director

24th July 2018

FIXED ASSETS

Property, plant and equipment

4

250

-

250

-

CURRENT ASSETS

Inventories

24,325

14,230

Debtors

5

339,311

45,814

Cash at bank

147,878

108,542

511,514

168,586

CREDITORS

Amounts falling due within one year

6

391,508

125,388

NET CURRENT ASSETS

120,006

43,198

TOTAL ASSETS LESS CURRENT LIABILITIES

120,256

43,198

PROVISIONS FOR LIABILITIES

47

-

NET ASSETS

120,209

43,198

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

119,209

42,198

SHAREHOLDERS' FUNDS

120,209

43,198

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 24th July 2018 and were signed on its behalf by:

Mr A Blay - Director

Mr A Lehane - Director

1.	STATUTORY INFORMATION

Floortech Industries UK Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue 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.

Fixtures and fittings

-

25% on reducing balance

Stocks

Inventories 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

fittings

£

COST

Additions

257

At 31st March 2018

257

DEPRECIATION

Charge for year

7

At 31st March 2018

7

NET BOOK VALUE

At 31st March 2018

250

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

270,789

34,979

Other debtors

68,522

10,835

339,311

45,814

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans and overdrafts

2,216

1,255

Trade creditors

132,454

43,158

Taxation and social security

123,818

41,640

Other creditors

133,020

39,335

391,508

125,388

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.18

31.3.17

£

£

Within one year

9,650

9,650

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr A Lehane.