L & H Decorators Limited,Ltd - AccountsLtd - Accounts

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L & H DECORATORS LIMITED - Company Information

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2019-04-01 03530837 2020-03-31 03530837 2019-04-01 2020-03-31 03530837 2019-03-31 03530837 2018-04-01 2019-03-31 03530837 uk-core:WithinOneYear 2019-03-31 03530837 uk-core:WithinOneYear 2020-03-31 03530837 uk-core:ShareCapital 2020-03-31 03530837 uk-core:ShareCapital 2019-03-31 03530837 uk-core:RetainedEarningsAccumulatedLosses 2020-03-31 03530837 uk-core:RetainedEarningsAccumulatedLosses 2019-03-31 03530837 uk-bus:Director1 2019-04-01 2020-03-31 03530837 uk-bus:Director2 2019-04-01 2020-03-31 03530837 uk-core:MotorVehicles 2019-04-01 2020-03-31 03530837 uk-core:FurnitureFittingsToolsEquipment 2019-04-01 2020-03-31 03530837 uk-core:FurnitureFittingsToolsEquipment 2019-03-31 03530837 uk-core:MotorVehicles 2019-03-31 03530837 uk-core:Buildings 2019-03-31 03530837 uk-core:Buildings 2019-04-01 2020-03-31 03530837 uk-core:Buildings 2020-03-31 03530837 uk-core:MotorVehicles 2020-03-31 03530837 uk-core:FurnitureFittingsToolsEquipment 2020-03-31 03530837 3 uk-bus:Director1 2019-04-01 2020-03-31 03530837 3 uk-bus:Director1 2020-03-31 03530837 3 uk-bus:Director1 2019-03-31 03530837 4 uk-bus:Director2 2019-04-01 2020-03-31 03530837 4 uk-bus:Director2 2020-03-31 03530837 4 uk-bus:Director2 2019-03-31 iso4217:GBP xbrli:pure 03530837 uk-bus:AuditExemptWithAccountantsReport 2019-04-01 2020-03-31 03530837 uk-bus:FRS102 2019-04-01 2020-03-31 03530837 uk-bus:FullAccounts 2019-04-01 2020-03-31 03530837 uk-bus:PrivateLimitedCompanyLtd 2019-04-01 2020-03-31
L & H Decorators Limited
Registered Number:03530837
For the year ended 31 March 2020
England and Wales
Unaudited Financial Statements
2
As at 31 March 2020
L & H Decorators Limited
Statement of Financial Position
Registered Number :
03530837
£
£
2019
2020
Notes
Fixed assets
Property, plant and equipment
221,443
248,803
2
221,443
248,803
Current assets
Inventories
2,014
1,862
3
Trade and other receivables
1,074,028
1,377,197
4
498,532
Cash and cash equivalents
1,151,462
2,530,521
1,574,574
Trade and other payables: amounts falling due within one
year
(492,676)
(787,337)
5
1,081,898
1,743,184
Net current assets
Total assets less current liabilities
1,964,627
1,330,701
1,964,627
Net assets
1,330,701
Capital and reserves
Called up share capital
300
300
Retained earnings
1,964,327
1,330,401
1,964,627
1,330,701
Shareholders' funds
For the year ended 31 March 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 March 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 John Spencer Hughes Director
Mr Peter Latham Director
These financial statements were approved and authorised for issue by the Board on 05 November 2020 and were signed by:
The notes form part of these financial statements
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For the year ended 31 March 2020
L & H Decorators Limited
Notes to the Financial Statements
Statutory Information
L & H Decorators Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 03530837.
Registered address:
Suite 1&2 Tarleton Court Yard
Church Road
Tarleton
Preston
PR4 6UP
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.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, 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:
20% Reducing balance
Motor vehicles
20% Reducing balance
Fixtures, fittings & equipment
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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For the year ended 31 March 2020
L & H Decorators Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Fixtures,
fittings &
equipment
Motor vehicles
Property
£
£
£
£
Cost or
valuation
At 01 April 2019
376,047
56,889
205,561
113,597
3,577
3,577
-
-
Additions
At 31 March 2020
113,597
205,561
60,466
379,624
Provision for depreciation and impairment
At 01 April 2019
127,244
42,841
79,859
4,544
Charge for year
30,937
3,525
25,140
2,272
At 31 March 2020
158,181
46,366
104,999
6,816
At 31 March 2020
Net book value
106,781
100,562
14,100
221,443
At 31 March 2019
109,053
125,702
14,048
248,803
3. Inventories
2019
2020
£
£
Stocks
1,862
2,014
4. Trade and other receivables
2019
2020
£
£
Trade debtors
1,301,405
1,022,695
Other debtors
75,792
51,333
1,074,028
1,377,197
5. Trade and other payables: amounts falling due within one year
2019
2020
£
£
Trade creditors
250,228
198,585
Taxation and social security
382,417
154,253
Other creditors
154,692
139,838
787,337
492,676
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For the year ended 31 March 2020
L & H Decorators Limited
Notes to the Financial Statements Continued
6. Related party transactions
Dividends paid totalling £ 100000 (2019: £ 43500)
Dividends paid totalling £111000 (2019: £ 45240)
7. Directors advances and guarantees
At 01/04/2019
Repaid
At 31/03/2020
£
£
£
Mr John Spencer Hughes
Directors Advance
(916)
(316)
600
(916)
(316)
600
Mr Peter Latham
Directors Advance
(915)
(315)
600
(915)
(315)
600
8. Average number of persons employed
During the year the average number of employees was 23 (2019 : 23)
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