Concept Painting Contractors Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04062739 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

CONCEPT PAINTING CONTRACTORS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs M Brown

K Brown

SECRETARY:

Mrs M Brown

REGISTERED OFFICE:

154b Derby Road

Stapleford

Nottingham

Nottinghamshire

NG9 7AY

REGISTERED NUMBER:

04062739 (England and Wales)

ACCOUNTANTS:

Collins Chapple & Co Limited

9a West Leake Road

East Leake

Loughborough

Leicestershire

LE12 6LJ

FIXED ASSETS

Tangible assets

4

8,295

9,208

CURRENT ASSETS

Stocks

276,978

307,428

Debtors

5

323,878

245,720

Cash at bank and in hand

-

1

600,856

553,149

CREDITORS

Amounts falling due within one year

6

336,485

305,716

NET CURRENT ASSETS

264,371

247,433

TOTAL ASSETS LESS CURRENT LIABILITIES

272,666

256,641

CREDITORS

Amounts falling due after more than one year

7

113,907

135,141

NET ASSETS

158,759

121,500

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

158,757

121,498

SHAREHOLDERS' FUNDS

158,759

121,500

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

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

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 31 August 2022 and were signed on its behalf by:

K Brown - Director

1.	STATUTORY INFORMATION

Concept Painting Contractors 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

-

20% on cost

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2021 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2021

15,160

12,374

43,685

28,451

99,670

Additions

-

2,279

-

-

2,279

At 31 March 2022

15,160

14,653

43,685

28,451

101,949

DEPRECIATION

At 1 April 2021

15,160

11,524

35,965

27,813

90,462

Charge for year

-

624

1,930

638

3,192

At 31 March 2022

15,160

12,148

37,895

28,451

93,654

NET BOOK VALUE

At 31 March 2022

-

2,505

5,790

-

8,295

At 31 March 2021

-

850

7,720

638

9,208

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

214,431

157,907

Other debtors

77,103

83,886

VAT

23,923

2,043

Prepayments

8,421

1,884

323,878

245,720

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

95,391

109,443

Other loans

-

23,176

Hire purchase contracts

173

173

Trade creditors

56,789

43,709

Tax

19,140

9,685

Social security and other taxes

23,098

18,972

Other creditors

107,819

93,692

Directors' loan accounts

28,830

-

Accrued expenses

5,245

6,866

336,485

305,716

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans more 5 yrs non-inst

113,907

135,141

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

113,907

135,141

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.22

31.3.21

value:

£

£

2

Ordinary

£1

2

2