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REGISTERED NUMBER: 05588288 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2020

for

Simply Carpets of Keynsham Limited

Simply Carpets of Keynsham Limited (Registered number: 05588288)






Contents of the Financial Statements
for the Year Ended 31 March 2020




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Simply Carpets of Keynsham Limited

Company Information
for the Year Ended 31 March 2020







DIRECTORS: Mr C Bollom
Mrs J Bollom





REGISTERED OFFICE: 52 Temple Street
Keynsham
Bristol
BS31 1EH





REGISTERED NUMBER: 05588288 (England and Wales)





ACCOUNTANTS: Norton Tax Shops Limited
3 & 5 Station Road
Keynsham
Bristol
BS31 2BH

Simply Carpets of Keynsham Limited (Registered number: 05588288)

Abridged Balance Sheet
31 March 2020

31.3.20 31.3.19
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,852 19,173

CURRENT ASSETS
Stocks 10,000 4,175
Debtors 93,269 97,919
Cash at bank 10,437 31,910
113,706 134,004
CREDITORS
Amounts falling due within one year 79,711 74,203
NET CURRENT ASSETS 33,995 59,801
TOTAL ASSETS LESS CURRENT
LIABILITIES

52,847

78,974

CAPITAL AND RESERVES
Called up share capital 5 1 1
Retained earnings 52,846 78,973
SHAREHOLDERS' FUNDS 52,847 78,974

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

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 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.

Simply Carpets of Keynsham Limited (Registered number: 05588288)

Abridged Balance Sheet - continued
31 March 2020


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 16 November 2020 and were signed on its behalf by:




Mr C Bollom - Director



Mrs J Bollom - Director


Simply Carpets of Keynsham Limited (Registered number: 05588288)

Notes to the Financial Statements
for the Year Ended 31 March 2020

1. STATUTORY INFORMATION

Simply Carpets of Keynsham Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Simply Carpets of Keynsham Limited (Registered number: 05588288)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2019 - 10 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2019 44,663
Additions 6,015
At 31 March 2020 50,678
DEPRECIATION
At 1 April 2019 25,490
Charge for year 6,336
At 31 March 2020 31,826
NET BOOK VALUE
At 31 March 2020 18,852
At 31 March 2019 19,173

5. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.20 31.3.19
value: £    £   
1 Ordinary £1 1 1

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2020 and 31 March 2019:

31.3.20 31.3.19
£    £   
Mr C Bollom and Mrs J Bollom
Balance outstanding at start of year (12,000 ) -
Amounts repaid 1,220 (12,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (10,780 ) (12,000 )