Registered number
09306418
J S Decorating (NW) Limited
Filleted Accounts
30 November 2021
J S Decorating (NW) Limited
Registered number: 09306418
Balance Sheet
as at 30 November 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 17,328 21,660
Current assets
Stocks and work in progress 75,413 49,860
Debtors 4 85,665 49,807
Cash at bank and in hand 143,384 57,917
304,462 157,584
Creditors: amounts falling due within one year 5 (112,001) (29,589)
Net current assets 192,461 127,995
Total assets less current liabilities 209,789 149,655
Creditors: amounts falling due after more than one year 6 (52,703) (67,140)
Net assets 157,086 82,515
Capital and reserves
Called up share capital 100 100
Profit and loss account 156,986 82,415
Shareholders' funds 157,086 82,515
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jamie Taggart
Director
Approved by the board on 17 June 2022
J S Decorating (NW) Limited
Notes to the Accounts
for the year ended 30 November 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 December 2020 30,349 12,000 42,349
At 30 November 2021 30,349 12,000 42,349
Depreciation
At 1 December 2020 12,103 8,586 20,689
Charge for the year 3,649 683 4,332
At 30 November 2021 15,752 9,269 25,021
Net book value
At 30 November 2021 14,597 2,731 17,328
At 30 November 2020 18,246 3,414 21,660
4 Debtors 2021 2020
£ £
Trade debtors 85,665 49,807
5 Creditors: amounts falling due within one year 2021 2020
£ £
Bank loans and overdrafts 2,278 2,439
Trade creditors 1,260 960
Taxation and social security costs 108,463 26,190
112,001 29,589
6 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 45,563 50,000
Other creditors 7,140 17,140
52,703 67,140
7 Other information
J S Decorating (NW) Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 DORSET ROAD
St Helens
WA10 3JL
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