STATION FLOORING (UK) LTD | |||||||||||
UNAUDITED FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED | |||||||||||
31 DECEMBER 2021 | |||||||||||
Company Registration Number: 08323353 | |||||||||||
STATION FLOORING (UK) LTD | |||||||||||
UNAUDITED FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2021 | |||||||||||
CONTENTS | PAGES | ||||||||||
Company information | 1 | ||||||||||
Balance sheet | 2 to 3 | ||||||||||
Notes to the financial statements | 4 to 10 | ||||||||||
STATION FLOORING (UK) LTD | |||||||||||
COMPANY INFORMATION | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2021 | |||||||||||
DIRECTORS | |||||||||||
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SECRETARY | |||||||||||
The company does not have an appointed secretary | |||||||||||
REGISTERED OFFICE | |||||||||||
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COMPANY REGISTRATION NUMBER | |||||||||||
08323353 England and Wales | |||||||||||
STATION FLOORING (UK) LTD | |||||||||||
BALANCE SHEET | |||||||||||
AS AT 31 DECEMBER 2021 | |||||||||||
Notes | 2021 | 2020 | |||||||||
£ | £ | ||||||||||
FIXED ASSETS | |||||||||||
Tangible assets | 6 |
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CURRENT ASSETS | |||||||||||
Stock |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS: Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Provisions for liabilities and charges |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||||||||
Called up share capital |
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Distributable profit and loss account |
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SHAREHOLDERS' FUNDS |
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STATION FLOORING (UK) LTD | |||||||||||
BALANCE SHEET | |||||||||||
AS AT 31 DECEMBER 2021 | |||||||||||
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As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report. | |||||||||||
Signed on behalf of the board of directors | |||||||||||
Nigel Moss | Graham Brewerton | ||||||||||
Director | Director | ||||||||||
Date approved by the board: |
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STATION FLOORING (UK) LTD | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2021 | |||||||||||
1 | GENERAL INFORMATION | ||||||||||
Station Flooring (UK) Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is: | |||||||||||
The Old Garrick Building | |||||||||||
Station Road | |||||||||||
Didcot | |||||||||||
Oxon | |||||||||||
OX11 7NR | |||||||||||
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2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||
Basis of preparation of financial statements | |||||||||||
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Revenue recognition | |||||||||||
Turnover is measured at the fair value of consideration received or receivable and represents the value of invoiced sales, stated net of trade discounts and value added tax. | |||||||||||
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity. |
Grant Income | |||||||||||
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Grant income of £29,342 (2020 - £75,804) was recognised during the year, received from the Government's Job Retention Scheme. This was a scheme introduced due to the COVID-19 pandemic, where employers are able to claim grants of up to 80% of furloughed employees' wage costs. | |||||||||||
The company received grant income of £nil (2020 - £10,000) from the South Oxfordshire District Council Discrectionary Grant Fund, which was introduced to support small businesses who were not eligible for the Small Business Grant Fund or the Retail, Leisure and Hospitality Fund. |
STATION FLOORING (UK) LTD | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2021 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Intangible fixed assets | |||||||||||
Intangible fixed assets, other than goodwill, are stated at cost less accumulated amortisation and any accumulated impairment losses. It was amortised on a straight-line basis over its useful economic life of 1 year and is now fully amortised. | |||||||||||
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. At acquisition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. |
Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual value assumed to be zero, over its useful economic life of 1 year. It is now fully amortised. | |||||||||||
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations. |
Tangible fixed assets | |||||||||||
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses. | |||||||||||
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives. | |||||||||||
Plant and machinery |
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Furniture and fittings |
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Computer equipment |
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On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses. | |||||||||||
Financial Instruments | |||||||||||
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The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date. |
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. | |||||||||||
STATION FLOORING (UK) LTD | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2021 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Impairment of non-financial assets | |||||||||||
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account. | |||||||||||
Stocks are assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group of similar items, is impaired its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the profit and loss account. | |||||||||||
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account. |
Stock | |||||||||||
Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a standard cost basis. | |||||||||||
The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
Work in progress | |||||||||||
Work in progress has been valued at the lower of cost and estimated selling price less cost to complete and sell. Cost comprises the cost of materials and direct labour relevant to the stage of construction. | |||||||||||
Debtors | |
Short term debtors are measured at transaction price, less any impairment. | |||||||||||
Creditors | |||||||||||
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STATION FLOORING (UK) LTD | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2021 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Leases | |||||||||||
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Taxation | |||||||||||
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Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits. | |||||||||||
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. | |||||||||||
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3 | CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS | ||||||||||
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements. | |||||||||||
4 | EMPLOYEES | ||||||||||
The average number of persons employed by the company (including directors) during the year was: | |||||||||||
2021 | 2020 | ||||||||||
Average number of employees |
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STATION FLOORING (UK) LTD | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2021 | |||||||||||
5 | INTANGIBLE FIXED ASSETS | ||||||||||
Net goodwill | Other intangible fixed assets | Total | |||||||||
£ | £ | £ | |||||||||
Cost | |||||||||||
At 1 January 2021 |
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At 31 December 2021 |
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Accumulated amounts written off | |||||||||||
At 1 January 2021 |
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At 31 December 2021 |
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Net book value | |||||||||||
At 1 January 2021 | - | - | - | ||||||||
At 31 December 2021 | - | - | - | ||||||||
6 | TANGIBLE ASSETS | ||||||||||
Plant and machinery | Furniture and fittings | Computer equipment | Total | ||||||||
£ | £ | £ | £ | ||||||||
Cost | |||||||||||
At 1 January 2021 |
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Additions |
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Disposals | - | ( |
- | ( |
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At 31 December 2021 |
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Accumulated depreciation and impairments | |||||||||||
At 1 January 2021 |
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Charge for year |
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Disposals | - | ( |
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At 31 December 2021 |
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Net book value | |||||||||||
At 1 January 2021 |
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At 31 December 2021 |
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STATION FLOORING (UK) LTD | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2021 | |||||||||||
7 | DEBTORS | ||||||||||
2021 | 2020 | ||||||||||
£ | £ | ||||||||||
Trade debtors | - |
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Prepayments and accrued income |
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Other debtors |
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7,814 | 9,872 | ||||||||||
8 | CREDITORS: Amounts falling due within one year | ||||||||||
2021 | 2020 | ||||||||||
£ | £ | ||||||||||
Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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169,687 | 201,951 | ||||||||||
9 | CONTINGENCIES AND COMMITMENTS | ||||||||||
Other Commitments | |||||||||||
Amounts falling due under operating leases: | 2021 | 2020 | |||||||||
£ | £ | ||||||||||
In less than one year |
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In more than one but less than five years |
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36,845 | 52,145 | ||||||||||
STATION FLOORING (UK) LTD | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 DECEMBER 2021 | |||||||||||
10 | RELATED PARTY TRANSACTIONS | ||||||||||
During the year, the following transactions with related parties took place: | |||||||||||
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Director and shareholder | 2021 | 2020 | |||||||||
£ | £ | ||||||||||
Advances to company |
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Director and shareholder | 2021 | 2020 | |||||||||
£ | £ | ||||||||||
Advances to company |
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