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SWINTON CARPETS LIMITED - Company Information

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Swinton Carpets Ltd

Registered Number:09828971

For the year ended 31 March 2020

England and Wales

Unaudited Financial Statements

For the year ended 31 March 2020

Swinton Carpets Ltd

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

As at 31 March 2020

Swinton Carpets Ltd

Statement of Financial Position

Registered Number :

09828971

2019

2020

Notes

Fixed assets

Intangible assets

37,809

44,581

Property, plant and equipment

2,526

2,875

40,335

47,456

Current assets

Inventories

94,160

111,958

Trade and other receivables

33,027

13,523

13,268

Cash and cash equivalents

4,003

129,484

140,455

Trade and other payables: amounts falling due within one year

(184,873)

(181,322)

(44,418)

(51,838)

Net current liabilities

Total assets less current liabilities

(11,503)

3,038

(11,503)

Net assets/liabilities

3,038

Capital and reserves

Called up share capital

Retained earnings

(11,504)

3,037

(11,503)

3,038

Shareholders' funds

For the year ended 31 March 2020 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 of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006

The director acknowledges her responsibilities for:a) ensuring that the company keeps proper 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 Section 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.

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

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Miss Natalie Banks Director

These financial statements were approved and authorised for issue by the Board on 16 December 2020 and were signed by:

The notes form part of these financial statements

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For the year ended 31 March 2020

Swinton Carpets Ltd

Notes to the Financial Statements

Statutory Information

Swinton Carpets Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number 09828971.

Principal place of business:

Unit 3-5 Rowms Lane

Swinton

Mexborough

S64 8AA

Registered address:

Horizon House

2 Whiting Street

Sheffield

S8 9QR

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as modified by the revaluation of certain assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 10 years.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Land and buildings

10% Straight line

25% Straight line

Motor vehicles

10% Straight line

Fixtures and fittings

Inventories

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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For the year ended 31 March 2020

Swinton Carpets Ltd

Notes to the Financial Statements Continued

2. Intangible fixed assets

Goodwill

Cost or valuation

At 01 April 2019

67,717

At 31 March 2020

67,717

Amortisation

At 01 April 2019

23,136

6,772

Charge for year

At 31 March 2020

29,908

Net book value

At 31 March 2020

37,809

At 31 March 2019

44,581

3. Property, plant and equipment

Total

Fixtures and

fittings

Motor vehicles

Land and buildings

Cost or valuation

At 01 April 2019

6,085

1,490

2,595

2,000

At 31 March 2020

2,000

2,595

1,490

6,085

Provision for depreciation and impairment

At 01 April 2019

3,210

348

2,595

267

Charge for year

349

149

200

At 31 March 2020

3,559

497

2,595

467

At 31 March 2020

Net book value

1,533

993

2,526

At 31 March 2019

1,733

1,142

2,875

4. Inventories

2019

2020

Stocks

111,958

94,160

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For the year ended 31 March 2020

Swinton Carpets Ltd

Notes to the Financial Statements Continued

5. Trade and other receivables

2019

2020

Trade debtors

1,410

332

Other debtors

12,113

32,695

33,027

13,523

6. Trade and other payables: amounts falling due within one year

2019

2020

Trade creditors

130,022

141,372

Taxation and social security

9,147

5,035

Other creditors

42,153

38,466

181,322

184,873

7. Average number of persons employed

During the year the average number of employees was 6 (2019 : 5)

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