The Decorators Mate Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03930187 (England and Wales)

The Decorators Mate Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2018

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTOR:

Mr A A Elliott-Shorey

SECRETARY:

Mr A A Elliott-Shorey

REGISTERED OFFICE:

76-80 Streatham Hill

London

SW2 4RD

REGISTERED NUMBER:

03930187 (England and Wales)

ACCOUNTANTS:

Alton & Co

Chartered Accountants

239-241 Kennington Lane

London

SE11 5QU

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Statement of Financial Position. Readers are cautioned that the Abridged

Statement of Comprehensive Income and certain other primary statements and the Report of the

Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of The Decorators Mate Limited for the year ended 31 March 2018 which

comprise the Abridged Statement of Income and Retained Earnings, Statement of Financial Position and the

related notes from the company's accounting records and from information and explanations you have given

us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of The Decorators Mate Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Decorators Mate Limited and state those matters that we have agreed to state to the director of The Decorators Mate Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Decorators Mate Limited and its director for our work or for this report.

It is your duty to ensure that The Decorators Mate Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Decorators Mate Limited. You consider that The Decorators Mate Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Decorators Mate Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Alton & Co

Chartered Accountants

239-241 Kennington Lane

London

SE11 5QU

29 November 2018

FIXED ASSETS

Property, plant and equipment

4

2,772

3,259

Investments

5

1

1

2,773

3,260

CURRENT ASSETS

Inventories

6

201,313

215,015

Debtors

7

163,719

153,172

Cash at bank and in hand

685,181

707,473

1,050,213

1,075,660

CREDITORS

Amounts falling due within one year

8

110,231

159,721

NET CURRENT ASSETS

939,982

915,939

TOTAL ASSETS LESS CURRENT LIABILITIES

942,755

919,199

PROVISIONS FOR LIABILITIES

9

249

295

NET ASSETS

942,506

918,904

CAPITAL AND RESERVES

Called up share capital

10

350

350

Retained earnings

11

942,156

918,554

SHAREHOLDERS' FUNDS

942,506

918,904

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 9 July 2018 and were signed by:

Mr A A Elliott-Shorey - Director

1.	STATUTORY INFORMATION

The Decorators Mate 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" 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 cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Turnover is generated from the ordinary activities of the business and is recognised when the

customer takes delivery of the goods.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Cost is determined on a first in first out basis. Net realisable value represents selling price less any

cost to sell. Provision is made for slow moving items where the net realisable value is less than costs.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2017 - 9 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2017

37,677

12,148

49,825

Additions

256

-

256

At 31 March 2018

37,933

12,148

50,081

DEPRECIATION

At 1 April 2017

35,777

10,789

46,566

Charge for year

539

204

743

At 31 March 2018

36,316

10,993

47,309

NET BOOK VALUE

At 31 March 2018

1,617

1,155

2,772

At 31 March 2017

1,900

1,359

3,259

5.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 April 2017

and 31 March 2018

1

NET BOOK VALUE

At 31 March 2018

1

At 31 March 2017

1

Fixed asset investments represent the cost of investing in the 100% holding in ESPG Limited-an

unquoted company registered in England.

6.	INVENTORIES

2018

2017

£

£

Stocks

201,313

215,015

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

18,854

11,810

Other debtors

144,865

141,362

163,719

153,172

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

58,298

114,413

Taxation and social security

46,148

39,525

Other creditors

5,785

5,783

110,231

159,721

9.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

249

295

Deferred

tax

£

Balance at 1 April 2017

295

Credit to Abridged Statement of Comprehensive Income during year

(46

)

Balance at 31 March 2018

249

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

350

Ordinary

£1

350

350

11.

RESERVES

Retained

earnings

£

At 1 April 2017

918,554

Profit for the year

43,902

Dividends

(20,300

)

At 31 March 2018

942,156

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £16,240 (2017 - £16,240) were paid to the director .

During the year company paid additional rent of £54,115 (2017: £40,000) to Caroline Shorey for

property 76-80 Streatham Hill.

ESPG Ltd

A company in which Mr A Elliott-Shorey is a director and fully own by The Decorators Mate Ltd.

Amount due from related party at balance sheet date is £127,513 (see Debtors note -10).

This is an interest free loan to related party.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A A Elliott-Shorey.