RIGHT PRICE CARPETS (UK) LTD,Ltd - AccountsLtd - Accounts

RIGHT PRICE CARPETS (UK) LTD,Ltd - AccountsLtd - Accounts

RIGHT PRICE CARPETS (UK) LIMITED - Company Information

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2019-09-01 05922506 2020-08-31 05922506 2019-09-01 2020-08-31 05922506 2019-08-31 05922506 2018-09-01 2019-08-31 05922506 uk-core:WithinOneYear 2019-08-31 05922506 uk-core:WithinOneYear 2020-08-31 05922506 uk-core:AfterOneYear 2019-08-31 05922506 uk-core:AfterOneYear 2020-08-31 05922506 uk-core:ShareCapital 2020-08-31 05922506 uk-core:ShareCapital 2019-08-31 05922506 uk-core:RetainedEarningsAccumulatedLosses 2020-08-31 05922506 uk-core:RetainedEarningsAccumulatedLosses 2019-08-31 05922506 uk-bus:Director1 2019-09-01 2020-08-31 05922506 uk-core:PlantMachinery 2019-09-01 2020-08-31 05922506 uk-core:CommercialMotorVehicles 2019-09-01 2020-08-31 05922506 uk-core:CommercialMotorVehicles 2019-08-31 05922506 uk-core:PlantMachinery 2019-08-31 05922506 uk-core:PlantMachinery 2020-08-31 05922506 uk-core:CommercialMotorVehicles 2020-08-31 05922506 uk-core:WithinOneYear uk-core:Secured 2020-08-31 05922506 uk-core:WithinOneYear uk-core:Secured 2019-08-31 iso4217:GBP xbrli:pure 05922506 uk-bus:AuditExemptWithAccountantsReport 2019-09-01 2020-08-31 05922506 uk-bus:FRS102 2019-09-01 2020-08-31 05922506 uk-bus:FullAccounts 2019-09-01 2020-08-31 05922506 uk-bus:PrivateLimitedCompanyLtd 2019-09-01 2020-08-31
RIGHT PRICE CARPETS (UK) LTD
Registered Number:05922506
For the year ended 31 August 2020
England and Wales
Unaudited Financial Statements
2
For the year ended 31 August 2020
RIGHT PRICE CARPETS (UK) LTD
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
05922506
As at 31 August 2020
RIGHT PRICE CARPETS (UK) LTD
Statement of Financial Position
£
£
2019
2020
Notes
Fixed assets
Property, plant and equipment
52,029
34,475
2
52,029
34,475
Current assets
Inventories
18,500
18,500
Trade and other receivables
8,000
12,932
3
1,565
Cash and cash equivalents
20,041
51,473
28,065
Trade and other payables: amounts falling due within one
year
(70,791)
(55,610)
4
(42,726)
(4,137)
Net current liabilities
Total assets less current liabilities
47,892
(8,251)
Trade and other payables: amounts falling due after more
than one year
(8,082)
(46,610)
5
1,282
Net assets/liabilities
(16,333)
Capital and reserves
Called up share capital
100
100
Retained earnings
1,182
(16,433)
1,282
(16,333)
Shareholders' funds
For the year ended 31 August 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 August 2020 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his 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.
MR A PRIOR Director
These financial statements were approved and authorised for issue by the Board on 26 February 2021 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 August 2020
RIGHT PRICE CARPETS (UK) LTD
Notes to the Financial Statements
Statutory Information
RIGHT PRICE CARPETS (UK) LTD is a private limited company, limited by shares, domiciled in England and Wales,
registration number 05922506.
Registered address:
20 CUMBERLAND ROAD
LINTHORPE VILLAGE
MIDDLESBROUGH
TS5 6HZ
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.
Property, plant and equipment
Property, plant and equipment, 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:
Plant and Machinery
20% Reducing balance
20% Reducing balance
Motor Vehicles
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2. Property, plant and equipment
Total
Motor
Vehicles
Plant and
Machinery
£
£
£
Cost or
valuation
At 01 September 2019
71,251
54,805
16,446
43,431
32,550
10,881
Additions
(30,010)
-
Disposals
(30,010)
At 31 August 2020
27,327
57,345
84,672
Provision for depreciation and impairment
At 01 September 2019
36,776
24,413
12,363
Charge for year
13,007
10,014
2,993
(17,140)
(17,140)
-
On disposal
At 31 August 2020
32,643
17,287
15,356
At 31 August 2020
Net book value
11,971
40,058
52,029
At 31 August 2019
4,083
30,392
34,475
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5
For the year ended 31 August 2020
RIGHT PRICE CARPETS (UK) LTD
Notes to the Financial Statements Continued
3. Trade and other receivables
2019
2020
£
£
Trade debtors
12,932
8,000
4. Trade and other payables: amounts falling due within one year
2019
2020
£
£
Bank loans and overdraft (secured)
8,400
9,132
Trade creditors
20,302
12,329
Taxation and social security
13,123
2,252
Accruals and deferred income
1,000
3,170
Obligations under HP/Financial leases
3,000
7,596
Other creditors
9,785
36,312
55,610
70,791
5. Trade and other payables: amounts falling due after more than one year
2019
2020
£
£
Bank loans and overdraft (secured)
40,360
-
Other creditors
6,250
8,082
46,610
8,082
6. Average number of persons employed
During the year the average number of employees was 2 (2019 : 2)
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