L & H Decorators Limited,Ltd - AccountsLtd - Accounts

L & H Decorators Limited,Ltd - AccountsLtd - Accounts

L & H DECORATORS LIMITED - Company Information

Print Friendly Version

2016-04-01 03530837 2017-03-31 03530837 2016-04-01 2017-03-31 03530837 2016-03-31 03530837 2015-04-01 2016-03-31 03530837 uk-core:WithinOneYear 2016-03-31 03530837 uk-core:WithinOneYear 2017-03-31 03530837 uk-core:ShareCapital 2017-03-31 03530837 uk-core:ShareCapital 2016-03-31 03530837 uk-core:RetainedEarningsAccumulatedLosses 2017-03-31 03530837 uk-core:RetainedEarningsAccumulatedLosses 2016-03-31 03530837 uk-bus:Director1 2016-04-01 2017-03-31 03530837 uk-bus:Director2 2016-04-01 2017-03-31 03530837 uk-core:MotorVehicles 2016-04-01 2017-03-31 03530837 uk-core:FurnitureFittingsToolsEquipment 2016-04-01 2017-03-31 03530837 uk-core:FurnitureFittingsToolsEquipment 2016-03-31 03530837 uk-core:MotorVehicles 2016-03-31 03530837 uk-core:Buildings 2016-03-31 03530837 uk-core:Buildings 2016-04-01 2017-03-31 03530837 uk-core:Buildings 2017-03-31 03530837 uk-core:MotorVehicles 2017-03-31 03530837 uk-core:FurnitureFittingsToolsEquipment 2017-03-31 03530837 3 uk-bus:Director1 2016-04-01 2017-03-31 03530837 3 uk-bus:Director1 2017-03-31 03530837 3 uk-bus:Director1 2016-03-31 03530837 4 uk-bus:Director2 2016-04-01 2017-03-31 03530837 4 uk-bus:Director2 2017-03-31 03530837 4 uk-bus:Director2 2016-03-31 iso4217:GBP 03530837 uk-bus:AuditExemptWithAccountantsReport 2016-04-01 2017-03-31 03530837 uk-bus:FRS102 2016-04-01 2017-03-31 03530837 uk-bus:FullAccounts 2016-04-01 2017-03-31 03530837 uk-bus:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31
L & H Decorators Limited
Registered Number:03530837
For the year ended 31 March 2017
England and Wales
Unaudited Financial Statements
2
As at 31 March 2017
L & H Decorators Limited
Statement of Financial Position
Registered Number :
03530837
£
£
2016
2017
Notes
Fixed assets
Property, plant and equipment
184,427
75,588
2
184,427
75,588
Current assets
Inventories
1,187
1,364
3
Trade and other receivables
819,583
927,242
4
438,944
Cash and cash equivalents
418,784
1,347,390
1,259,714
Trade and other payables: amounts falling due within one
year
(436,395)
(429,353)
5
823,319
918,037
Net current assets
Total assets less current liabilities
1,102,464
898,907
1,102,464
Net assets
898,907
Capital and reserves
Called up share capital
300
300
Retained earnings
1,102,164
898,607
1,102,464
898,907
Shareholders' funds
For the year ended 31 March 2017 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 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.
Mr John Spencer Hughes Director
Mr Peter Latham Director
These financial statements were approved and authorised for issue by the Board on 21 August 2017 and were signed by:
The notes form part of these financial statements
1 of 4
3
For the year ended 31 March 2017
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.
2 of 4
4
For the year ended 31 March 2017
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 2016
154,361
42,199
112,162
-
131,664
9,192
8,875
113,597
Additions
-
(9,995)
-
Disposals
(9,995)
At 31 March 2017
113,597
111,042
51,391
276,030
Provision for depreciation and impairment
At 01 April 2016
78,773
31,422
47,351
-
Charge for year
17,707
3,994
13,713
-
(4,877)
-
(4,877)
-
On disposal
At 31 March 2017
91,603
35,416
56,187
-
At 31 March 2017
Net book value
113,597
54,855
15,975
184,427
At 31 March 2016
-
64,811
10,777
75,588
3. Inventories
2016
2017
£
£
Stocks
1,364
1,187
Inventories are valued at the lower of cost and net realisable value.
4. Trade and other receivables
2016
2017
£
£
Trade debtors
870,624
776,987
Other debtors
56,618
42,596
819,583
927,242
5. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Trade creditors
332,131
253,486
Taxation and social security
94,191
160,378
Other creditors
3,031
22,531
429,353
436,395
3 of 4
5
For the year ended 31 March 2017
L & H Decorators Limited
Notes to the Financial Statements Continued
6. Related party transactions
During the year, dividends were paid to the directors as follows:-
P. Latham £ 41,652 (2016: £ 40,052)
J.S. Hughes £ 40,050 (2016: £ 37,550)
The ultimate controlling party was Mr P. Latham, a director and 26% shareholder of the company.
7. Directors advances and guarantees
Repaid
Loaned
At 01/04/2016
At 31/03/2017
£
£
£
£
Mr John Spencer Hughes
Directors Advance
(316)
(10,216)
10,000
100
(316)
(10,216)
10,000
100
Mr Peter Latham
Directors Advance
(315)
(10,215)
10,000
100
(315)
(10,215)
10,000
100
4 of 4