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REGISTERED NUMBER: 05821341 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 May 2023

for

G F Decorators Ltd

G F Decorators Ltd (Registered number: 05821341)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G F Decorators Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTOR: G Fenn





SECRETARY: Miss R Feehily





REGISTERED OFFICE: 146 Wombridge Road
Trench
Telford
Shropshire
TF2 6QA





REGISTERED NUMBER: 05821341 (England and Wales)





ACCOUNTANTS: Tranter Lowe (Oakengates) Limited
Chartered Accountants
International House
6 Market Street
Oakengates
Telford
Shropshire
TF2 6EF

G F Decorators Ltd (Registered number: 05821341)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,960 3,884

CURRENT ASSETS
Debtors 5 2,465 5,983
Cash at bank 67 1,979
2,532 7,962
CREDITORS
Amounts falling due within one year 6 8,788 8,234
NET CURRENT LIABILITIES (6,256 ) (272 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,704

3,612

CREDITORS
Amounts falling due after more than one
year

7

(7,375

)

(2,467

)

PROVISIONS FOR LIABILITIES (3,222 ) (738 )
NET ASSETS 107 407

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 7 307
SHAREHOLDERS' FUNDS 107 407

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

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

G F Decorators Ltd (Registered number: 05821341)

Balance Sheet - continued
31 May 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 November 2023 and were signed by:





G Fenn - Director


G F Decorators Ltd (Registered number: 05821341)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

G F Decorators Ltd 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

G F Decorators Ltd (Registered number: 05821341)

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

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2022 14,000 564 14,564
Additions 21,416 - 21,416
Disposals (14,000 ) - (14,000 )
At 31 May 2023 21,416 564 21,980
DEPRECIATION
At 1 June 2022 10,124 556 10,680
Charge for year 4,462 2 4,464
Eliminated on disposal (10,124 ) - (10,124 )
At 31 May 2023 4,462 558 5,020
NET BOOK VALUE
At 31 May 2023 16,954 6 16,960
At 31 May 2022 3,876 8 3,884

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2022 14,000
Additions 21,416
Disposals (14,000 )
At 31 May 2023 21,416
DEPRECIATION
At 1 June 2022 10,124
Charge for year 4,462
Eliminated on disposal (10,124 )
At 31 May 2023 4,462
NET BOOK VALUE
At 31 May 2023 16,954
At 31 May 2022 3,876

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 2,465 1,197
Directors' current accounts - 4,786
2,465 5,983

G F Decorators Ltd (Registered number: 05821341)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 800 800
Hire purchase contracts 2,604 987
Tax 1,691 3,333
Directors' current accounts 429 -
Accrued expenses 3,264 3,114
8,788 8,234

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans - 1-2 years 800 800
Bank loans - 2-5 years 933 1,667
Hire purchase contracts 5,642 -
7,375 2,467

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary £1 100 100

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23 31.5.22
£    £   
G Fenn
Balance outstanding at start of year (4,786 ) (1,680 )
Amounts advanced (24,588 ) (28,672 )
Amounts repaid 29,803 25,566
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 429 (4,786 )