Stebro Flooring Company Limited - Accounts to registrar (filleted) - small 18.2
Stebro Flooring Company Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020 |
| FOR |
| STEBRO FLOORING COMPANY LIMITED |
| STEBRO FLOORING COMPANY LIMITED (REGISTERED NUMBER: 00812579) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 October 2020 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| STEBRO FLOORING COMPANY LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 October 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 5 Walsall Street |
| Wednesbury |
| West Midlands |
| WS10 9BZ |
| STEBRO FLOORING COMPANY LIMITED (REGISTERED NUMBER: 00812579) |
| ABRIDGED BALANCE SHEET |
| 31 October 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 8 |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| STEBRO FLOORING COMPANY LIMITED (REGISTERED NUMBER: 00812579) |
| ABRIDGED BALANCE SHEET - continued |
| 31 October 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| STEBRO FLOORING COMPANY LIMITED (REGISTERED NUMBER: 00812579) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 October 2020 |
| 1. | STATUTORY INFORMATION |
| Stebro Flooring Company Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Goodwill, is the amount paid in connection with the acquisition of a business in 2011. Initially the goodwill paid was amortised on a straight line basis over 15 years; this policy has been changed to a 10 year straight line basis.Based on a recalculation of the amortisation rate to date the directors are of the opinion that no write down is necessary for the current year. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Plant & machinery | - |
| Motor vehicles | - |
| Stocks |
| Stocks 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| STEBRO FLOORING COMPANY LIMITED (REGISTERED NUMBER: 00812579) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 October 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Operating leases |
| Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 November 2019 |
| and 31 October 2020 |
| AMORTISATION |
| At 1 November 2019 |
| and 31 October 2020 |
| NET BOOK VALUE |
| At 31 October 2020 |
| At 31 October 2019 |
| 5. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST OR VALUATION |
| At 1 November 2019 |
| Additions |
| At 31 October 2020 |
| DEPRECIATION |
| At 1 November 2019 |
| Charge for year |
| At 31 October 2020 |
| NET BOOK VALUE |
| At 31 October 2020 |
| At 31 October 2019 |
| Cost or valuation at 31 October 2020 is represented by: |
| Totals |
| £ |
| Valuation in 2019 | 106,277 |
| Cost | 294,284 |
| 400,561 |
| STEBRO FLOORING COMPANY LIMITED (REGISTERED NUMBER: 00812579) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 October 2020 |
| 6. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2020 | 2019 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Other loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Other loans - 1-2 years | 25,911 |
| Loans from associated company | 43,100 | - |
| Directors loan | 150,000 | 100,000 |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| Other loans - 2-5 years |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| Other Loans | 105,170 | 181,748 |
| 8. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 November 2019 |
| and 31 October 2020 |
| 9. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £24,000 (2019 - £27,500) were paid to the directors . |
| Loans received from Tomjoyce Properties Ltd amounted to £43,100 during the year and are repayable within 1 to 2 years.. |
| . |