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REGISTERED NUMBER: 07847224 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

APH DECORATING SERVICES LTD

APH DECORATING SERVICES LTD (REGISTERED NUMBER: 07847224)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


APH DECORATING SERVICES LTD (REGISTERED NUMBER: 07847224)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 118,115 73,108

CURRENT ASSETS
Stocks 29,788 48,744
Debtors 6 703,114 494,106
Cash at bank 29,993 35,443
762,895 578,293
CREDITORS
Amounts falling due within one year 7 529,222 387,957
NET CURRENT ASSETS 233,673 190,336
TOTAL ASSETS LESS CURRENT
LIABILITIES

351,788

263,444

CREDITORS
Amounts falling due after more than one
year

8

(109,208

)

(91,430

)

PROVISIONS FOR LIABILITIES (29,529 ) (13,891 )
NET ASSETS 213,051 158,123

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 212,951 158,023
213,051 158,123

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 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.

APH DECORATING SERVICES LTD (REGISTERED NUMBER: 07847224)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2023 and were signed on its behalf by:




C K Campbell - Director



A P Harding - Director


APH DECORATING SERVICES LTD (REGISTERED NUMBER: 07847224)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

APH Decorating Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07847224

Registered office: Unit 6 Genesis Business Park
Redkiln Way
Horsham
West Sussex
RH13 5QH

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


All amounts in the financial statements have been rounded to the nearest £.

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company either as a lessor or a lessee are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
- Determine whether there are indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Other key sources of estimation uncertainty

- Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

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 rendering of services. 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

APH DECORATING SERVICES LTD (REGISTERED NUMBER: 07847224)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. ACCOUNTING POLICIES - continued

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.
Land and buildings - 10% on reducing balance
Plant and machinery etc - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Basic financial assets, including trade debtors, other debtors, cash and bank balances, are initially measured at the transaction price including transaction costs and are subsequently recognised at amortised cost.

Basic financial liabilities, including trade creditors, other creditors and bank loan, are initially recognised at transaction price and are subsequently recognised at amortised cost.

The company has no financial assets or financial liabilities measured at fair value. Although the company has external borrowings it is not exposed to risk arising from the interest rate benchmark reform, as LIBOR is replaced with alternative benchmark interest rates, as all of the borrowings are at a fixed rate of interest.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

APH DECORATING SERVICES LTD (REGISTERED NUMBER: 07847224)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the leasee. All other leases are classified as operating leases.

Operating lease rentals are charged to the company profit and loss account on straight-line basis over the lease term, except where the directors consider that another systematic basis would be more representative of the time pattern in which the economic benefits associated with the leased asset are consumed. Contingent rentals which arise under operating lease agreements are recognised as an expense in the period in which they are incurred. Lease incentives are recognised on a straight-line basis over the lease term.

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.

Interest receivable and interest payable
Interest income and interest payable are recognised in profit and loss as they accrue, using the effective interest method.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 1,197 87,808 89,005
Additions - 70,739 70,739
Disposals - (532 ) (532 )
At 31 March 2023 1,197 158,015 159,212
DEPRECIATION
At 1 April 2022 353 15,544 15,897
Charge for year 85 25,243 25,328
Eliminated on disposal - (128 ) (128 )
At 31 March 2023 438 40,659 41,097
NET BOOK VALUE
At 31 March 2023 759 117,356 118,115
At 31 March 2022 844 72,264 73,108

APH DECORATING SERVICES LTD (REGISTERED NUMBER: 07847224)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. 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 April 2022 67,750
Additions 67,090
At 31 March 2023 134,840
DEPRECIATION
At 1 April 2022 3,469
Charge for year 23,059
At 31 March 2023 26,528
NET BOOK VALUE
At 31 March 2023 108,312
At 31 March 2022 64,281

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 524,575 348,265
Other debtors 155,579 137,463
680,154 485,728

Amounts falling due after more than one year:
Other debtors 22,960 8,378

Aggregate amounts 703,114 494,106

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 11,493 5,425
Hire purchase contracts (see note 9) 20,577 10,399
Trade creditors 51,013 44,512
Taxation and social security 185,636 193,750
Other creditors 260,503 133,871
529,222 387,957

APH DECORATING SERVICES LTD (REGISTERED NUMBER: 07847224)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 39,196 44,759
Hire purchase contracts (see note 9) 70,012 46,671
109,208 91,430

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 15,504 21,652

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:
Hire purchase contracts
2023 2022
£ £
Net obligations repayable:
Within one year 20,577 10,399
Between one and five years 70,012 46,671
90,589 57,070


At 31 March 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £NIL (2022: £420).


10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 90,589 57,070
Other creditors 204,758 90,238
295,347 147,308

The hire purchase liability is secured against the assets purchased.

Included in other creditors is an amount of £204,758 which is secured against trade debtors with a value of £524,575.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors repaid amounts totalling £36,298 to the company. At the balance sheet date the company was owed £59,952 (£2022: £93,817) by the directors. These loans are unsecured and repayable on demand. Interest totalling £2,433 was charged on these loans.