REGISTERED NUMBER: 07934201 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

My Paintbrush Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A J Cherry

REGISTERED OFFICE:

19 Warren Park Way

The Warrens Business Park

Enderby

Leicester

LE19 4SA

REGISTERED NUMBER:

07934201 (England and Wales)

ACCOUNTANTS:

Carter & Co

19 Warren Park Way

Enderby

Leicester

LE19 4SA

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

7,089

9,453

7,090

9,454

CURRENT ASSETS

Stocks

360,000

328,000

Debtors

6

119,411

110,033

Cash at bank

51,434

62,589

530,845

500,622

CREDITORS

Amounts falling due within one year

7

333,098

278,076

NET CURRENT ASSETS

197,747

222,546

TOTAL ASSETS LESS CURRENT LIABILITIES

204,837

232,000

CREDITORS

Amounts falling due after more than one year

8

(38,333

)

(138,333

)

PROVISIONS FOR LIABILITIES

(1,347

)

-

NET ASSETS

165,157

93,667

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

165,057

93,567

SHAREHOLDERS' FUNDS

165,157

93,667

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 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 22 September 2023 and were signed by:

A J Cherry - Director

1.	STATUTORY INFORMATION

My Paintbrush 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.

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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

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 etc

-

33% on cost, 25% on reducing balance and 25% on cost

Stocks

Stocks 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.

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.

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2022

and 31 March 2023

6,514

AMORTISATION

At 1 April 2022

and 31 March 2023

6,513

NET BOOK VALUE

At 31 March 2023

1

At 31 March 2022

1

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

and 31 March 2023

31,283

DEPRECIATION

At 1 April 2022

21,830

Charge for year

2,364

At 31 March 2023

24,194

NET BOOK VALUE

At 31 March 2023

7,089

At 31 March 2022

9,453

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Paypal

1,071

13,430

Other debtors

81,761

51,066

Directors' current accounts

-

25,118

VAT

36,579

20,419

119,411

110,033

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade creditors

289,146

264,690

Tax

35,796

10,182

Social security and other taxes

2,035

1,754

Other creditors

4,420

-

Directors' current accounts

76

-

Accrued expenses

1,625

1,450

333,098

278,076

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans - 1-2 years

38,333

138,333

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

100

Ordinary

£1.00

100

100

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £73,000 (2022 - £37,500) were paid to the director .