Deluxe Materials Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 07199176 (England and Wales)

Financial Statements for the Year Ended 31 March 2023

for

Deluxe Materials Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Bristow

Mrs V Bristow

REGISTERED OFFICE:

5 Crossborough Gardens

Basingstoke

Hampshire

RG21 4LB

REGISTERED NUMBER:

07199176 (England and Wales)

ACCOUNTANTS:

Ashley Doggett and Co

Chartered Accountant

5 Crossborough Gardens

Basingstoke

Hampshire

RG21 4LB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

229,490

230,936

229,490

230,936

CURRENT ASSETS

Stocks

333,503

342,852

Debtors

6

80,679

47,804

Cash at bank and in hand

446,252

300,218

860,434

690,874

CREDITORS

Amounts falling due within one year

7

96,741

69,461

NET CURRENT ASSETS

763,693

621,413

TOTAL ASSETS LESS CURRENT LIABILITIES

993,183

852,349

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

992,883

852,049

SHAREHOLDERS' FUNDS

993,183

852,349

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

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

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 10 July 2023 and were signed on its behalf by:

J Bristow - Director

Mrs V Bristow - Director

1.	STATUTORY INFORMATION

Deluxe Materials Ltd 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

Revenue - described as turnover - is the value of goods (net of vat) provided to customers during the year, plus the value of work (net of vat) performed during the year with respect to services.

Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is recognised on the provision of services on a percentage degree of completion basis calculated by reference to the time expended compared to the total anticipated time.

The turnover and profit before taxation are attributable to the one principal activity of the company.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Fixtures and fittings

-

25% on reducing balance

Going concern basis.

The directors are confident that the company will continue to expand within the UK market and also worldwide.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

65,000

AMORTISATION

At 1 April 2022

and 31 March 2023

65,000

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

property

property

fittings

Totals

£

£

£

£

COST

At 1 April 2022

225,455

20,132

21,364

266,951

Additions

-

-

1,258

1,258

At 31 March 2023

225,455

20,132

22,622

268,209

DEPRECIATION

At 1 April 2022

-

18,773

17,242

36,015

Charge for year

-

1,359

1,345

2,704

At 31 March 2023

-

20,132

18,587

38,719

NET BOOK VALUE

At 31 March 2023

225,455

-

4,035

229,490

At 31 March 2022

225,455

1,359

4,122

230,936

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

80,679

47,804

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade creditors

33,214

26,688

Taxation and social security

51,559

30,805

Other creditors

11,968

11,968

96,741

69,461

8.	ULTIMATE CONTROLLING PARTY

The controlling party is J Bristow and V Bristow.