IRIS Accounts Production v22.2.0.402 SC435804 Board of Directors 1.1.21 31.12.21 31.12.21 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC4358042020-12-31SC4358042021-12-31SC4358042021-01-012021-12-31SC4358042019-12-31SC4358042020-01-012020-12-31SC4358042020-12-31SC435804ns16:Scotland2021-01-012021-12-31SC435804ns15:PoundSterling2021-01-012021-12-31SC435804ns11:Director12021-01-012021-12-31SC435804ns11:PrivateLimitedCompanyLtd2021-01-012021-12-31SC435804ns11:SmallEntities2021-01-012021-12-31SC435804ns11:AuditExemptWithAccountantsReport2021-01-012021-12-31SC435804ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-31SC435804ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-31SC435804ns11:FullAccounts2021-01-012021-12-31SC43580412021-01-012021-12-31SC435804ns11:Director22021-01-012021-12-31SC435804ns11:RegisteredOffice2021-01-012021-12-31SC435804ns6:CurrentFinancialInstruments2021-12-31SC435804ns6:CurrentFinancialInstruments2020-12-31SC435804ns6:ShareCapital2021-12-31SC435804ns6:ShareCapital2020-12-31SC435804ns6:RetainedEarningsAccumulatedLosses2021-12-31SC435804ns6:RetainedEarningsAccumulatedLosses2020-12-31SC435804ns6:NetGoodwill2021-01-012021-12-31SC435804ns6:IntangibleAssetsOtherThanGoodwill2021-01-012021-12-31SC435804ns6:PlantMachinery2021-01-012021-12-31SC435804ns6:NetGoodwill2020-12-31SC435804ns6:NetGoodwill2021-12-31SC435804ns6:NetGoodwill2020-12-31SC435804ns6:PlantMachinery2020-12-31SC435804ns6:PlantMachinery2021-12-31SC435804ns6:PlantMachinery2020-12-31SC435804ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2020-12-31SC435804ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2021-12-31SC435804ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2020-12-31SC435804ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-31SC435804ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-31
REGISTERED NUMBER: SC435804 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

M. McAteer Decorators Limited

M. McAteer Decorators Limited (Registered number: SC435804)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

M. McAteer Decorators Limited

Company Information
for the Year Ended 31 December 2021







DIRECTORS: M McAteer
M McAteer





REGISTERED OFFICE: 29 Brandon Street
Hamilton
South Lanarkshire
ML3 6DA





REGISTERED NUMBER: SC435804 (Scotland)





ACCOUNTANTS: Sharles CA
29 Brandon Street
Hamilton
ML3 6DA

M. McAteer Decorators Limited (Registered number: SC435804)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 30,000 40,000
Tangible assets 6 19,379 4,582
49,379 44,582

CURRENT ASSETS
Debtors 7 30,451 34,519
Cash at bank 116,895 115,011
147,346 149,530
CREDITORS
Amounts falling due within one year 8 145,577 159,029
NET CURRENT ASSETS/(LIABILITIES) 1,769 (9,499 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,148

35,083

PROVISIONS FOR LIABILITIES 3,682 870
NET ASSETS 47,466 34,213

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 47,464 34,211
SHAREHOLDERS' FUNDS 47,466 34,213

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

M. McAteer Decorators Limited (Registered number: SC435804)

Balance Sheet - continued
31 December 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2022 and were signed on its behalf by:





M McAteer - Director


M. McAteer Decorators Limited (Registered number: SC435804)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

M. McAteer Decorators Limited is a private company, limited by shares , registered in Scotland. 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. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The accounts have been prepared on a going concern basis as the director has undertaken to continue supporting the company through their director's loan account.

Turnover
Turnover is derived from painting and decorating services supplied by the company.

Turnover is measured at the fair value of the painting and decorating services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost and 20% on cost

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred.


M. McAteer Decorators Limited (Registered number: SC435804)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement on a straight line basis.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

M. McAteer Decorators Limited (Registered number: SC435804)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 100,000
AMORTISATION
At 1 January 2021 60,000
Charge for year 10,000
At 31 December 2021 70,000
NET BOOK VALUE
At 31 December 2021 30,000
At 31 December 2020 40,000

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2021 34,736
Additions 19,790
Disposals (15,005 )
At 31 December 2021 39,521
DEPRECIATION
At 1 January 2021 30,154
Charge for year 4,993
Eliminated on disposal (15,005 )
At 31 December 2021 20,142
NET BOOK VALUE
At 31 December 2021 19,379
At 31 December 2020 4,582

M. McAteer Decorators Limited (Registered number: SC435804)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2021 17,195
Transfer to ownership (17,195 )
At 31 December 2021 -
DEPRECIATION
At 1 January 2021 12,895
Transfer to ownership (12,895 )
At 31 December 2021 -
NET BOOK VALUE
At 31 December 2021 -
At 31 December 2020 4,300

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 23,875 33,948
Other debtors 6,576 571
30,451 34,519

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Hire purchase contracts - 694
Trade creditors 2,928 2,634
Taxation and social security 17,011 13,699
Other creditors 125,638 142,002
145,577 159,029

9. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Hire purchase contracts - 694

The hire purchase contracts are secured over the assets concerned.

M. McAteer Decorators Limited (Registered number: SC435804)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

10. RELATED PARTY DISCLOSURES

The company operates a loan account with the directors M McAteer and Mrs M McAteer.

During the year, the company repaid loans totalling £14,484 to the directors. At the year end, the balance due to the directors was £115,854 (2020 - £130,338).

This loan is unsecured, interest free and has no fixed repayment terms.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
M. McAteer Decorators Limited

The following reproduces the text of the report prepared for the directors 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 Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Directors 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 M. McAteer Decorators Limited for the year ended 31 December 2021 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of M. McAteer Decorators Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of M. McAteer Decorators Limited and state those matters that we have agreed to state to the Board of Directors of M. McAteer Decorators Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that M. McAteer Decorators 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 M. McAteer Decorators Limited. You consider that M. McAteer Decorators 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 M. McAteer Decorators 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.






Sharles CA
29 Brandon Street
Hamilton
ML3 6DA


6 September 2022