L & H Decorators Limited,Ltd - AccountsLtd - Accounts

L & H Decorators Limited,Ltd - AccountsLtd - Accounts

L & H DECORATORS LIMITED - Company Information

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2020-04-01 03530837 2021-03-31 03530837 2020-04-01 2021-03-31 03530837 2020-03-31 03530837 2019-04-01 2020-03-31 03530837 uk-core:WithinOneYear 2020-03-31 03530837 uk-core:WithinOneYear 2021-03-31 03530837 uk-core:ShareCapital 2021-03-31 03530837 uk-core:ShareCapital 2020-03-31 03530837 uk-core:RetainedEarningsAccumulatedLosses 2021-03-31 03530837 uk-core:RetainedEarningsAccumulatedLosses 2020-03-31 03530837 uk-bus:Director1 2020-04-01 2021-03-31 03530837 uk-bus:Director2 2020-04-01 2021-03-31 03530837 uk-core:MotorVehicles 2020-04-01 2021-03-31 03530837 uk-core:FurnitureFittingsToolsEquipment 2020-04-01 2021-03-31 03530837 uk-core:FurnitureFittingsToolsEquipment 2020-03-31 03530837 uk-core:MotorVehicles 2020-03-31 03530837 uk-core:Buildings 2020-03-31 03530837 uk-core:Buildings 2020-04-01 2021-03-31 03530837 uk-core:Buildings 2021-03-31 03530837 uk-core:MotorVehicles 2021-03-31 03530837 uk-core:FurnitureFittingsToolsEquipment 2021-03-31 03530837 3 uk-bus:Director1 2020-04-01 2021-03-31 03530837 3 uk-bus:Director1 2021-03-31 03530837 3 uk-bus:Director1 2020-03-31 03530837 4 uk-bus:Director2 2020-04-01 2021-03-31 03530837 4 uk-bus:Director2 2021-03-31 03530837 4 uk-bus:Director2 2020-03-31 iso4217:GBP xbrli:pure 03530837 uk-bus:AuditExemptWithAccountantsReport 2020-04-01 2021-03-31 03530837 uk-bus:FRS102 2020-04-01 2021-03-31 03530837 uk-bus:FullAccounts 2020-04-01 2021-03-31 03530837 uk-bus:PrivateLimitedCompanyLtd 2020-04-01 2021-03-31
L & H Decorators Limited
Registered Number:03530837
For the year ended 31 March 2021
England and Wales
Unaudited Financial Statements
2
Registered Number :
03530837
As at 31 March 2021
L & H Decorators Limited
Statement of Financial Position
£
£
2020
2021
Notes
Fixed assets
Property, plant and equipment
207,299
221,443
2
207,299
221,443
Current assets
Inventories
1,862
1,925
3
Trade and other receivables
1,377,197
695,222
4
1,151,462
Cash and cash equivalents
1,664,299
2,361,446
2,530,521
Trade and other payables: amounts falling due within one
year
(787,337)
(635,586)
5
1,743,184
1,725,860
Net current assets
Total assets less current liabilities
1,933,159
1,964,627
1,933,159
Net assets
1,964,627
Capital and reserves
Called up share capital
300
300
Retained earnings
1,932,859
1,964,327
1,933,159
1,964,627
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 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 30 November 2021 and were signed by:
The notes form part of these financial statements
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For the year ended 31 March 2021
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 2021
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 2020
379,624
60,466
205,561
113,597
18,247
5,593
12,654
-
Additions
-
(14,457)
-
Disposals
(14,457)
At 31 March 2021
113,597
203,758
66,059
383,414
Provision for depreciation and impairment
At 01 April 2020
158,181
46,366
104,999
6,816
Charge for year
27,970
3,938
21,760
2,272
(10,036)
-
(10,036)
-
On disposal
At 31 March 2021
176,115
50,304
116,723
9,088
At 31 March 2021
Net book value
104,509
87,035
15,755
207,299
At 31 March 2020
106,781
100,562
14,100
221,443
3. Inventories
2020
2021
£
£
Stocks
1,925
1,862
4. Trade and other receivables
2020
2021
£
£
Trade debtors
625,032
1,301,405
Other debtors
70,190
75,792
1,377,197
695,222
5. Trade and other payables: amounts falling due within one year
2020
2021
£
£
Trade creditors
157,391
250,228
Taxation and social security
128,872
382,417
Other creditors
349,323
154,692
635,586
787,337
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For the year ended 31 March 2021
L & H Decorators Limited
Notes to the Financial Statements Continued
6. Related party transactions
Dividends paid totalling £ 135000 (2020: £ 100000)
Dividends paid totalling £130400 (2020: £ 111000)
7. Directors advances and guarantees
At 01/04/2020
Repaid
At 31/03/2021
£
£
£
Mr John Spencer Hughes
Directors Advance
(1,515)
(915)
600
(1,515)
(915)
600
Mr Peter Latham
Directors Advance
(1,515)
(915)
600
(1,515)
(915)
600
8. Average number of persons employed
During the year the average number of employees was 19 (2020 : 23)
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