Company Registration No. 06116411 (England and Wales)
PW FLOORING SOLUTIONS LTD
Unaudited accounts
for the year ended 28 February 2022
PW FLOORING SOLUTIONS LTD
Unaudited accounts
Contents
PW FLOORING SOLUTIONS LTD
Company Information
for the year ended 28 February 2022
Company Number
06116411 (England and Wales)
Registered Office
9 cannon park road
middlesbrough
ts1 5jp
Accountants
H E Warters Accountancy Services
7 Sir Douglas Park
Thornaby
TS17 0JY
PW FLOORING SOLUTIONS LTD
Statement of financial position
as at
28 February 2022
Tangible assets
33,529
11,858
Inventories
119,714
107,906
Cash at bank and in hand
71,795
94,668
Creditors: amounts falling due within one year
(146,073)
(105,400)
Net current assets
68,536
164,255
Total assets less current liabilities
102,065
176,113
Creditors: amounts falling due after more than one year
(67,974)
(106,074)
Capital redemption reserve
29,508
29,508
Profit and loss account
4,583
40,531
Shareholders' funds
34,091
70,039
For the year ending 28 February 2022 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 director acknowledges his 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.
The financial statements were approved by the Board and authorised for issue on 17 October 2022 and were signed on its behalf by
Paul Warters
Director
Company Registration No. 06116411
PW FLOORING SOLUTIONS LTD
Notes to the Accounts
for the year ended 28 February 2022
PW FLOORING SOLUTIONS LTD is a private company, limited by shares, registered in England and Wales, registration number 06116411. The registered office is 9 cannon park road, middlesbrough, ts1 5jp.
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 on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies
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.
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
20% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
20% Reducing Balance
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.
PW FLOORING SOLUTIONS LTD
Notes to the Accounts
for the year ended 28 February 2022
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At valuation
At cost
At cost
At cost
At 1 March 2021
23,706
792
22,859
17,551
64,908
Additions
365
19,683
6,143
1,976
28,167
Revaluations
2,972
-
-
-
2,972
At 28 February 2022
27,043
20,475
29,002
19,527
96,047
At 1 March 2021
21,489
792
19,215
11,554
53,050
Charge for the year
2,634
4,571
828
1,435
9,468
At 28 February 2022
24,123
5,363
20,043
12,989
62,518
At 28 February 2022
2,920
15,112
8,959
6,538
33,529
At 28 February 2021
2,217
-
3,644
5,997
11,858
Amounts falling due within one year
Trade debtors
19,002
22,191
Accrued income and prepayments
4,098
(81)
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
2,598
7,318
Trade creditors
116,060
54,314
Taxes and social security
13,313
9,258
7
Creditors: amounts falling due after more than one year
2022
2021
Obligations under finance leases and hire purchase contracts
14,477
-
Other creditors
(43,729)
-
Loans from directors
20,000
21,000
8
Average number of employees
During the year the average number of employees was 3 (2021: 0).