Registered number
07815684
Brown and Earnshaw Decorators Ltd
Filleted Accounts
31 December 2023
Brown and Earnshaw Decorators Ltd
Registered number: 07815684
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 19,809 12,755
Current assets
Stocks 6,000 5,000
Debtors 5 49,022 19,164
Cash at bank and in hand 94,682 160,512
149,704 184,676
Creditors: amounts falling due within one year 6 (106,631) (117,227)
Net current assets 43,073 67,449
Total assets less current liabilities 62,882 80,204
Provisions for liabilities (3,764) (2,423)
Net assets 59,118 77,781
Capital and reserves
Called up share capital 2 2
Profit and loss account 59,116 77,779
Shareholders' funds 59,118 77,781
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R Brown
Director
Approved by the board on 6 March 2024
Brown and Earnshaw Decorators Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment, fixtures and fittings over 5 years
Plant and machinery over 10 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 11 12
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 20,000
At 31 December 2023 20,000
Amortisation
At 1 January 2023 20,000
At 31 December 2023 20,000
Net book value
At 31 December 2023 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Equipment, fixtures & fittings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 2,681 9,497 43,106 55,284
Additions - 644 12,162 12,806
Disposals - - (7,500) (7,500)
At 31 December 2023 2,681 10,141 47,768 60,590
Depreciation
At 1 January 2023 1,994 6,065 34,470 42,529
Charge for the year 298 863 4,591 5,752
On disposals - - (7,500) (7,500)
At 31 December 2023 2,292 6,928 31,561 40,781
Net book value
At 31 December 2023 389 3,213 16,207 19,809
At 31 December 2022 687 3,432 8,636 12,755
5 Debtors 2023 2022
£ £
Trade debtors 37,000 8,531
Other debtors 12,022 10,633
49,022 19,164
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 3,839 4,211
Taxation and social security costs 42,836 47,467
Other creditors 59,956 65,549
106,631 117,227
7 Controlling party
The company is controlled by the directors, Mr R and Mrs E Brown, by virtue of their shareholding.
8 Other information
Brown and Earnshaw Decorators Ltd is a private company limited by shares and incorporated in England. Its registered office is:
12 Granary Wharf Business Park
Wetmore Road
Burton upon Trent
Staffordshire
DE14 1DU
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