Company Registration No. 02171624 (England and Wales)
The Carpet Bureau Limited
Unaudited accounts
for the year ended 31 December 2019
The Carpet Bureau Limited
Unaudited accounts
Contents
The Carpet Bureau Limited
Company Information
for the year ended 31 December 2019
Directors
Mr Bryan M S Robison
Mr Zachary Robison
Mr James Robison
Company Number
02171624 (England and Wales)
Registered Office
222 Battersea Park Road
London
SW11 4ND
Accountants
Jerome Associates Ltd
Balance Farm
Titley
Kington
Herefordshire
HR5 3RU
The Carpet Bureau Limited
Statement of financial position
as at 31 December 2019
Tangible assets
66,510
53,119
Cash at bank and in hand
394,653
376,836
Creditors: amounts falling due within one year
(123,047)
(117,945)
Net current assets
439,375
443,319
Total assets less current liabilities
505,885
496,438
Provisions for liabilities
Deferred tax
(10,824)
(8,550)
Other provisions
(10,000)
(10,000)
Net assets
485,061
477,888
Called up share capital
50
50
Capital redemption reserve
50
50
Profit and loss account
484,961
477,788
Shareholders' funds
485,061
477,888
For the year ending 31 December 2019 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 22 February 2020.
Mr Bryan M S Robison
Director
Company Registration No. 02171624
The Carpet Bureau Limited
Notes to the Accounts
for the year ended 31 December 2019
The Carpet Bureau Limited is a private company, limited by shares, registered in England and Wales, registration number 02171624. The registered office is 222 Battersea Park Road, London, SW11 4ND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance basis
Motor vehicles
25% reducing balance basis
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The Carpet Bureau Limited
Notes to the Accounts
for the year ended 31 December 2019
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 January 2019
187,557
41,412
228,969
Additions
1,503
29,805
31,308
Disposals
-
(11,275)
(11,275)
At 31 December 2019
189,060
59,942
249,002
At 1 January 2019
144,562
31,288
175,850
Charge for the year
6,675
9,561
16,236
On disposals
-
(9,594)
(9,594)
At 31 December 2019
151,237
31,255
182,492
At 31 December 2019
37,823
28,687
66,510
At 31 December 2018
42,995
10,124
53,119
Finished goods
95,175
93,027
Trade debtors
48,689
67,151
Accrued income and prepayments
23,601
24,250
The Carpet Bureau Limited
Notes to the Accounts
for the year ended 31 December 2019
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Creditors: amounts falling due within one year
2019
2018
Obligations under finance leases and hire purchase contracts
14,745
-
Trade creditors
49,609
50,193
Taxes and social security
41,324
64,353
Allotted, called up and fully paid:
50 Ordinary shares of £1 each
50
50
9
Average number of employees
During the year the average number of employees was 4 (2018: 4).
