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REGISTERED NUMBER: 04344635















Financial Statements for the Year Ended 31 December 2022

for

Guild Decorators Limited

Guild Decorators Limited (Registered number: 04344635)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Guild Decorators Limited

Company Information
for the Year Ended 31 December 2022







DIRECTOR: P Rose





REGISTERED OFFICE: 78 Sewell Road
Lincoln
LN2 5LY





REGISTERED NUMBER: 04344635





ACCOUNTANTS: Reeve & Co
Chartered Certified Accountants
Unit 14 Oak House
Witham Park
Waterside South
Lincoln
LN5 7FB

Guild Decorators Limited (Registered number: 04344635)

Balance Sheet
31 December 2022

31.12.21 31.12.22
£    £    Notes £    £   
FIXED ASSETS
4,842 Property, plant and equipment 4 1,451

CURRENT ASSETS
100 Inventories 100
23,014 Debtors 5 3,094
23,114 3,194
CREDITORS
32,425 Amounts falling due within one year 6 23,605
(9,311 ) NET CURRENT LIABILITIES (20,411 )
(4,469 ) TOTAL ASSETS LESS CURRENT LIABILITIES (18,960 )

920 PROVISIONS FOR LIABILITIES 920
(5,389 ) NET LIABILITIES (19,880 )

CAPITAL AND RESERVES
100 Called up share capital 100
(5,489 ) Retained earnings (19,980 )
(5,389 ) SHAREHOLDERS' FUNDS (19,880 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

Guild Decorators Limited (Registered number: 04344635)

Balance Sheet - continued
31 December 2022


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 director and authorised for issue on 29 September 2023 and were signed by:





P Rose - Director


Guild Decorators Limited (Registered number: 04344635)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Guild Decorators Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Tools and equipment - 20% on cost
Motor vehicles - 20% on cost
Office equipment - 20% on cost

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Guild Decorators Limited (Registered number: 04344635)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Tools and Motor Office
Totals equipment vehicles equipment
£    £    £    £   
COST
At 1 January 2022
and 31 December 2022 27,043 3,629 17,419 5,995
DEPRECIATION
At 1 January 2022 22,201 3,455 12,899 5,847
Charge for year 3,391 63 3,219 109
At 31 December 2022 25,592 3,518 16,118 5,956
NET BOOK VALUE
At 31 December 2022 1,451 111 1,301 39
At 31 December 2021 4,842 174 4,520 148

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2022 16,055
Transfer to ownership (16,055 )
At 31 December 2022 -
DEPRECIATION
At 1 January 2022 11,542
Charge for year 3,211
Transfer to ownership (14,753 )
At 31 December 2022 -
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 4,513

Guild Decorators Limited (Registered number: 04344635)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 1,234 15,319
Other debtors 750 750
Directors' current account - 6,774
Construction industry scheme tax repayable 901 -
Prepayments 209 171
3,094 23,014

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts 7,982 14,010
Hire purchase contracts - 1,882
Trade creditors 8,577 8,818
Corporation tax - 974
Social security and other taxes (639 ) 5,330
Other creditors 1,411 1,411
Directors' current account 6,274 -
23,605 32,425

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2022 and 31 December 2021:

31.12.22 31.12.21
£    £   
P Rose
Balance outstanding at start of year 6,774 4,172
Amounts advanced - 2,602
Amounts repaid (6,774 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 6,774