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REGISTERED NUMBER: SC116943 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

FULTON DECORATORS LIMITED

FULTON DECORATORS LIMITED (REGISTERED NUMBER: SC116943)






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


FULTON DECORATORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: G D Fulton
Ms L B Lockhart





SECRETARY: Ms L B Lockhart





REGISTERED OFFICE: 6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC116943 (Scotland)





ACCOUNTANTS: Cornerstone Glasgow Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

FULTON DECORATORS LIMITED (REGISTERED NUMBER: SC116943)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,015 11,249

CURRENT ASSETS
Stocks 11,800 12,550
Debtors 5 13,104 20,618
Cash at bank and in hand 18,422 27,479
43,326 60,647
CREDITORS
Amounts falling due within one year 6 37,849 68,759
NET CURRENT ASSETS/(LIABILITIES) 5,477 (8,112 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,492

3,137

PROVISIONS FOR LIABILITIES 2,473 2,479
NET ASSETS 16,019 658

CAPITAL AND RESERVES
Called up share capital 202 202
Retained earnings 15,817 456
SHAREHOLDERS' FUNDS 16,019 658

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 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.

FULTON DECORATORS LIMITED (REGISTERED NUMBER: SC116943)

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 Income Statement has not been delivered.

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





G D Fulton - Director


FULTON DECORATORS LIMITED (REGISTERED NUMBER: SC116943)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Fulton Decorators Limited is a private company, limited by shares , registered in Scotland. 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 represents the amounts derived from the provision of goods and services which fall within the company's ordinary activities and is stated net of Value Added Tax. Revenue is recognised on despatch of goods & provision of services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on a reducing balance basis
Fixtures and fittings - 25% on a reducing balance basis
Motor vehicles - 25% on a reducing balance basis
Computer equipment - 25% on a reducing balance basis

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

FULTON DECORATORS LIMITED (REGISTERED NUMBER: SC116943)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 24,028 2,238 37,788 9,919 73,973
Additions 3,159 124 - 2,382 5,665
Disposals - - (9,152 ) - (9,152 )
At 31 May 2023 27,187 2,362 28,636 12,301 70,486
DEPRECIATION
At 1 June 2022 17,337 2,180 35,275 7,932 62,724
Charge for year 1,970 46 574 1,092 3,682
Eliminated on disposal - - (8,935 ) - (8,935 )
At 31 May 2023 19,307 2,226 26,914 9,024 57,471
NET BOOK VALUE
At 31 May 2023 7,880 136 1,722 3,277 13,015
At 31 May 2022 6,691 58 2,513 1,987 11,249

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 13,104 20,618

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,309 2,499
Taxation and social security 7,854 8,485
Other creditors 28,686 57,775
37,849 68,759