Company Registration No. 5890220 (England and Wales)
The Invisible Painter Limited
Unaudited accounts
for the year ended 31 July 2017
The Invisible Painter Limited
Unaudited accounts
Contents
The Invisible Painter Limited
Company Information
for the year ended 31 July 2017
Company Number
5890220 (England and Wales)
Registered Office
6 Itchen Building
The Old Hambledon Race Course Centre
Sheardley Lane, Droxford
Hants
SO32 3QY
The Invisible Painter Limited
Statement of financial position
as at 31 July 2017
Tangible assets
207,710
208,116
Cash at bank and in hand
220,832
221,078
Creditors: amounts falling due within one year
(187,758)
(148,187)
Net current assets
149,140
182,592
Total assets less current liabilities
356,850
390,708
Creditors: amounts falling due after more than one year
(114,426)
(127,072)
Net assets
242,424
263,636
Called up share capital
4
4
Profit and loss account
242,420
263,632
Shareholders' funds
242,424
263,636
For the year ending 31 July 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 23 March 2018.
Andrew Bassett
Director
Company Registration No. 5890220
The Invisible Painter Limited
Notes to the Accounts
for the year ended 31 July 2017
The Invisible Painter Limited is a private company, limited by shares, registered in England and Wales, registration number 5890220. The registered office is 6 Itchen Building, The Old Hambledon Race Course Centre, Sheardley Lane, Droxford, Hants, SO32 3QY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 July 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 August 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% S/Line
The Invisible Painter Limited
Notes to the Accounts
for the year ended 31 July 2017
4
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 August 2016
192,317
16,242
-
3,361
211,920
Additions
-
-
2,106
3,017
5,123
At 31 July 2017
192,317
16,242
2,106
6,378
217,043
At 1 August 2016
-
1,692
-
2,112
3,804
Charge for the year
-
4,061
122
1,346
5,529
At 31 July 2017
-
5,753
122
3,458
9,333
At 31 July 2017
192,317
10,489
1,984
2,920
207,710
At 31 July 2016
192,317
14,550
-
1,249
208,116
Trade debtors
113,101
109,318
6
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
-
4,746
Obligations under finance leases and hire purchase contracts
-
2,458
Trade creditors
68,194
56,645
Taxes and social security
102,467
76,088
Loans from directors
-
7,000
7
Creditors: amounts falling due after more than one year
2017
2016
Bank loans
114,426
114,722
Obligations under finance leases and hire purchase contracts
-
12,350
Allotted, called up and fully paid:
4 Ordinary shares of £1 each
4
4
The Invisible Painter Limited
Notes to the Accounts
for the year ended 31 July 2017
9
Average number of employees
During the year the average number of employees was 0 (2016: 0).
