The Decorator Source Limited,Ltd - AccountsLtd - Accounts

The Decorator Source Limited,Ltd - AccountsLtd - Accounts

THE DECORATOR SOURCE LIMITED - Company Information

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2020-04-01 03268328 2021-03-31 03268328 2020-04-01 2021-03-31 03268328 2020-03-31 03268328 2019-04-01 2020-03-31 03268328 uk-core:WithinOneYear 2020-03-31 03268328 uk-core:WithinOneYear 2021-03-31 03268328 uk-core:ShareCapital 2021-03-31 03268328 uk-core:ShareCapital 2020-03-31 03268328 uk-core:RetainedEarningsAccumulatedLosses 2021-03-31 03268328 uk-core:RetainedEarningsAccumulatedLosses 2020-03-31 03268328 uk-bus:Director1 2020-04-01 2021-03-31 03268328 uk-core:OfficeEquipment 2020-04-01 2021-03-31 03268328 uk-core:OfficeEquipment 2020-03-31 03268328 uk-core:Buildings 2020-03-31 03268328 uk-core:Buildings 2020-04-01 2021-03-31 03268328 uk-core:Buildings 2021-03-31 03268328 uk-core:OfficeEquipment 2021-03-31 iso4217:GBP xbrli:pure 03268328 uk-bus:AuditExemptWithAccountantsReport 2020-04-01 2021-03-31 03268328 uk-bus:FRS102 2020-04-01 2021-03-31 03268328 uk-bus:FullAccounts 2020-04-01 2021-03-31 03268328 uk-bus:PrivateLimitedCompanyLtd 2020-04-01 2021-03-31
The Decorator Source Limited
Registered Number:03268328
For the year ended 31 March 2021
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2021
The Decorator Source Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
03268328
As at 31 March 2021
The Decorator Source Limited
Statement of Financial Position
£
£
2020
2021
Notes
Fixed assets
Property, plant and equipment
64
59,085
2
64
59,085
Current assets
Inventories
199,885
160,826
3
Trade and other receivables
328
7,424
4
43,903
Cash and cash equivalents
100,156
268,406
244,116
Trade and other payables: amounts falling due within one year
(162,150)
(100,971)
5
81,966
167,435
Net current assets
Total assets less current liabilities
167,499
141,051
(12)
(16)
Provisions for liabilities
167,487
Net assets
141,035
Capital and reserves
Called up share capital
2
2
Retained earnings
167,485
141,033
167,487
141,035
Shareholders' funds
For the year ended 31 March 2021 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 2021 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their 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.
Miss Kirsty Helen Sylvester Director
These financial statements were approved and authorised for issue by the Board on 21 May 2021 and were signed by:
The notes form part of these financial statements
1 of 4
4
For the year ended 31 March 2021
The Decorator Source Limited
Notes to the Financial Statements
Statutory Information
The Decorator Source Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 03268328.
Principal place of business:
39a Long Street
Tetbury
Gloucestershire
GL8 8AA
Registered address:
Windyridge
Amberley
Stroud
Gloucestershire
GL5 5AA
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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, 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:
25% Reducing balance
Computer 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
Inventories are valued at the lower of cost and estimated selling price less costs to sell.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate at the date of transaction. Exchange rate differences are taken into account in arriving at the operating result.
2 of 4
5
For the year ended 31 March 2021
The Decorator Source Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
Equipment
Land and
Buildings
£
£
£
Cost or valuation
At 01 April 2020
61,541
2,541
59,000
Transfers
(59,000)
-
(59,000)
At 31 March 2021
-
2,541
2,541
Provision for depreciation and impairment
At 01 April 2020
2,456
2,456
-
Charge for year
21
21
-
At 31 March 2021
2,477
2,477
-
At 31 March 2021
Net book value
-
64
64
At 31 March 2020
59,000
85
59,085
3. Inventories
2020
2021
£
£
Stocks
160,826
199,885
4. Trade and other receivables
2020
2021
£
£
Trade debtors
7,424
-
Other debtors
-
328
328
7,424
5. Trade and other payables: amounts falling due within one year
2020
2021
£
£
Trade creditors
4,787
2,584
Taxation and social security
11,098
6,943
Other creditors
85,086
152,623
100,971
162,150
6. Average number of persons employed
During the year the average number of employees was 1 (2020 : 2)
3 of 4
6
For the year ended 31 March 2021
The Decorator Source Limited
Notes to the Financial Statements Continued
4 of 4