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REGISTERED NUMBER: 12122339 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st July 2023

for

Painting Spaces Kent Limited

Painting Spaces Kent Limited (Registered number: 12122339)






Contents of the Financial Statements
for the Year Ended 31st July 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Painting Spaces Kent Limited

Company Information
for the Year Ended 31st July 2023







DIRECTORS: R Broomby
Miss J C Sheehan





SECRETARY:





REGISTERED OFFICE: 153 Mortimer Street
Herne Bay
Kent
CT6 5HA





REGISTERED NUMBER: 12122339 (England and Wales)





ACCOUNTANTS: CWW Accountants
153 Mortimer Street
Herne Bay
Kent
CT6 5HA

Painting Spaces Kent Limited (Registered number: 12122339)

Abridged Balance Sheet
31st July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,362 27,543

CURRENT ASSETS
Debtors 36,299 35,360
Cash at bank and in hand 105,800 67,326
142,099 102,686
CREDITORS
Amounts falling due within one year 33,769 29,577
NET CURRENT ASSETS 108,330 73,109
TOTAL ASSETS LESS CURRENT LIABILITIES 131,692 100,652

CREDITORS
Amounts falling due after more than one year 5 14,567 22,549
NET ASSETS 117,125 78,103

CAPITAL AND RESERVES
Called up share capital 115 115
Retained earnings 117,010 77,988
SHAREHOLDERS' FUNDS 117,125 78,103

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

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

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8th January 2024 and were signed on its behalf by:





R Broomby - Director


Painting Spaces Kent Limited (Registered number: 12122339)

Notes to the Financial Statements
for the Year Ended 31st July 2023

1. STATUTORY INFORMATION

Painting Spaces Kent 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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
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 - 3 ) .

Painting Spaces Kent Limited (Registered number: 12122339)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st August 2022 36,724
Additions 3,606
At 31st July 2023 40,330
DEPRECIATION
At 1st August 2022 9,181
Charge for year 7,787
At 31st July 2023 16,968
NET BOOK VALUE
At 31st July 2023 23,362
At 31st July 2022 27,543

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
31.7.23 31.7.22
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 11,319 15,398