A.T. Decorating Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04756634 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2023

FOR

A.T. DECORATING LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A M Fisher

Mrs K A Garton

REGISTERED OFFICE:

c/o Michael Heaven & Associates Limited

47 Calthorpe Road

Edgbaston

BIRMINGHAM

West Midlands

B15 1TH

REGISTERED NUMBER:

04756634 (England and Wales)

ACCOUNTANTS:

Michael Heaven & Associates Limited

Chartered Certified Accountants

47 Calthorpe Road

Edgbaston

BIRMINGHAM

B15 1TH

BANKERS:

Barclays Bank PLC

313 High Street

West Bromwich

West Midlands

B70 8LU

INCORPORATED:

7th May 2003

FIXED ASSETS

Tangible assets

4

10,378

13,494

CURRENT ASSETS

Debtors

7,550

9,002

Cash at bank

5,266

8,167

12,816

17,169

CREDITORS

Amounts falling due within one year

8,904

6,004

NET CURRENT ASSETS

3,912

11,165

TOTAL ASSETS LESS CURRENT LIABILITIES

14,290

24,659

CREDITORS

Amounts falling due after more than one year

(7,241

)

(10,060

)

PROVISIONS FOR LIABILITIES

6

(1,972

)

(2,564

)

NET ASSETS

5,077

12,035

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

4,977

11,935

SHAREHOLDERS' FUNDS

5,077

12,035

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2023 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30th April 2023 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 26th May 2023 and were signed on its behalf by:

Mr A M Fisher - Director

1.	STATUTORY INFORMATION

A.T. Decorating 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 represents the value of services provided to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Motor vehicles - 25% reducing balance

Computer equipment - 25% straight line

Hire purchase and leasing commitments

A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans from related parties.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including hire purchase, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st May 2022

18,939

Additions

699

At 30th April 2023

19,638

DEPRECIATION

At 1st May 2022

5,445

Charge for year

3,815

At 30th April 2023

9,260

NET BOOK VALUE

At 30th April 2023

10,378

At 30th April 2022

13,494

5.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023

2022

£

£

Net obligations repayable:

Within one year

2,819

2,721

Between one and five years

7,241

10,060

10,060

12,781

6.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

1,972

2,564

Deferred

tax

£

Balance at 1st May 2022

2,564

Movement during the year

(592

)

Balance at 30th April 2023

1,972

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

80

Ordinary A

£1

80

80

20

Ordinary B

£1

20

20

100

100

8.	RELATED PARTY DISCLOSURES

At the year end the amount due to the directors totalled £78. The loans are interest free and repayable on demand.