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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
Page
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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
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Erme Decorating Limited Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
9,040 
11,300 
Tangible assets
11,716 
19,585 
20,756 
30,885 
Current assets
Inventories
32,335 
30,750 
Debtors
74,223 
77,383 
Cash at bank and in hand
9,132 
27,351 
115,690 
135,484 
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)
Net assets
2,263 
12,957 
Capital and reserves
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
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Erme Decorating Limited Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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
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Erme Decorating Limited Notes to the Accounts for the year ended 30 June 2023
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 July 2022
22,600 
At 30 June 2023
22,600 
Amortisation
At 1 July 2022
11,300 
Charge for the year
2,260 
At 30 June 2023
13,560 
Net book value
At 30 June 2023
9,040 
At 30 June 2022
11,300 
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 
Depreciation
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 
Net book value
At 30 June 2023
600 
10,304 
812 
11,716 
At 30 June 2022
1,624 
17,450 
511 
19,585 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
1,025 
285 
Trade debtors
73,198 
76,719 
Other debtors
- 
379 
74,223 
77,383 
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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 
Other creditors
303 
2,404 
Loans from directors
42,963 
48,341 
Accruals
3,201 
1,373 
Deferred income
17,016 
17,189 
84,183 
103,412 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Other creditors
50,000 
50,000 
9
Loans to directors
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).
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