Company Registration No. 10735621 (England and Wales)
Erme Decorating Limited
Unaudited accounts
for the year ended 30 June 2023
Erme Decorating Limited
Unaudited accounts
Contents
Erme Decorating Limited
Company Information
for the year ended 30 June 2023
Directors
Stephen Smalley
Frances Smalley
Company Number
10735621 (England and Wales)
Registered Office
Unit 2 Ermington Workshops
Ermington
Ivybridge
PL21 9NT
England
Accountants
PBS Accounting Limited
Unit 2 Lister Mill Business Park
Lister Close, Plympton
Plymouth
Devon
PL7 4BA
Erme Decorating Limited
Statement of financial position
as at 30 June 2023
Intangible assets
9,040
11,300
Tangible assets
11,716
19,585
Cash at bank and in hand
9,132
27,351
Creditors: amounts falling due within one year
(84,183)
(103,412)
Net current assets
31,507
32,072
Total assets less current liabilities
52,263
62,957
Creditors: amounts falling due after more than one year
(50,000)
(50,000)
Called up share capital
100
100
Profit and loss account
2,163
12,857
Shareholders' funds
2,263
12,957
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2023 and were signed on its behalf by
Stephen Smalley
Director
Company Registration No. 10735621
Erme Decorating Limited
Notes to the Accounts
for the year ended 30 June 2023
Erme Decorating Limited is a private company, limited by shares, registered in England and Wales, registration number 10735621. The registered office is Unit 2 Ermington Workshops, Ermington, Ivybridge, PL21 9NT, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of the grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33.33% Straight line
Motor vehicles
25% Reducing balance
Fixtures & fittings
33.33% Straight line
Erme Decorating Limited
Notes to the Accounts
for the year ended 30 June 2023
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2022
14,537
38,030
2,394
54,961
Additions
95
161
918
1,174
Disposals
-
(7,750)
-
(7,750)
At 30 June 2023
14,632
30,441
3,312
48,385
At 1 July 2022
12,913
20,580
1,883
35,376
Charge for the year
1,119
3,432
617
5,168
On disposals
-
(3,875)
-
(3,875)
At 30 June 2023
14,032
20,137
2,500
36,669
At 30 June 2023
600
10,304
812
11,716
At 30 June 2022
1,624
17,450
511
19,585
Amounts falling due within one year
Trade debtors
73,198
76,719
Erme Decorating Limited
Notes to the Accounts
for the year ended 30 June 2023
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
11,970
17,850
Taxes and social security
8,730
16,255
Loans from directors
42,963
48,341
Deferred income
17,016
17,189
8
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
50,000
50,000
At the year end the director was owed £92,963 (2022 - £98,341).
10
Average number of employees
During the year the average number of employees was 5 (2022: 5).