MARK WALTON DECORATORS LIMITED

MARK WALTON DECORATORS LIMITED

MARK WALTON DECORATORS LIMITED - Company Information

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MARK WALTON DECORATORS LIMITED

Company Registration Number:
07841713 (England and Wales)

Unaudited abridged accounts for the year ended 30 November 2022

Period of accounts

Start date: 01 December 2021

End date: 30 November 2022

MARK WALTON DECORATORS LIMITED

Contents of the Financial Statements

for the Period Ended 30 November 2022

Balance sheet
Notes

MARK WALTON DECORATORS LIMITED

Balance sheet

As at 30 November 2022


Notes
2022
2021


£
£
Fixed assets
Tangible assets: 3 5,329 1,100
Total fixed assets: 5,329 1,100
Current assets
Stocks: 750 750
Debtors:   0 2,050
Cash at bank and in hand: 147 2,245
Total current assets: 897 5,045
Creditors: amounts falling due within one year: 4 (4,165) (5,771)
Net current assets (liabilities): (3,268) (726)
Total assets less current liabilities: 2,061 374
Provision for liabilities: (254) (209)
Total net assets (liabilities): 1,807 165
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 1,707 65
Shareholders funds: 1,807 165

The notes form part of these financial statements

MARK WALTON DECORATORS LIMITED

Balance sheet statements

For the year ending 30 November 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 24 August 2023
and signed on behalf of the board by:

Name: M P WALTON
Status: Director

The notes form part of these financial statements

MARK WALTON DECORATORS LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is the total amount receivable by the Company in the ordinary course of business for the value of work done up to the balance sheet date.

Tangible fixed assets and depreciation policy

Tangible fixed assets are stated at cost less accumulated depreciation and impairment. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.Office equipment – 15% on costMotor vehicle – 25% on reducing instalments basis

Valuation and information policy

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Other accounting policies

Debtors and Creditors Receivable/Payable Within One Year:Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.Taxation:Taxation represents the sum of tax currently payable and deferred tax. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company’s accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.Leased Assets:Rentals appropriate to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.

MARK WALTON DECORATORS LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2022

2. Employees

2022 2021
Average number of employees during the period 1 1

MARK WALTON DECORATORS LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2022

3. Tangible Assets

Total
Cost £
At 01 December 2021 1,543
Additions 4,865
At 30 November 2022 6,408
Depreciation
At 01 December 2021 443
Charge for year 636
At 30 November 2022 1,079
Net book value
At 30 November 2022 5,329
At 30 November 2021 1,100

MARK WALTON DECORATORS LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2022

4. Creditors: amounts falling due within one year note

There are no secured creditors.

MARK WALTON DECORATORS LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2022

5. Financial commitments

The Company has entered into a non cancellable operating lease commitment with a commitment of £Nil (2021-£7,192) within one year