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REGISTERED NUMBER: 06429569 (England and Wales)















Financial Statements for the Year Ended 30 April 2023

for

Fresco Ceilings Ltd

Fresco Ceilings Ltd (Registered number: 06429569)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fresco Ceilings Ltd

Company Information
for the Year Ended 30 April 2023







DIRECTOR: Mrs A Muenster-Staines





REGISTERED OFFICE: Unit 4
Springwell Court
Leeds
West Yorkshire
LS12 1AL





REGISTERED NUMBER: 06429569 (England and Wales)





ACCOUNTANTS: Richard Smedley Limited
Chartered Accountants & Registered Auditors
Richmond House
Lawnswood Business Park
Redvers Close
Leeds
West Yorkshire
LS16 6QY

Fresco Ceilings Ltd (Registered number: 06429569)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 90,303 80,153

CURRENT ASSETS
Stocks 500 500
Debtors 5 765,663 673,819
Cash at bank and in hand 166,904 110,628
933,067 784,947
CREDITORS
Amounts falling due within one year 6 336,245 234,655
NET CURRENT ASSETS 596,822 550,292
TOTAL ASSETS LESS CURRENT
LIABILITIES

687,125

630,445

CREDITORS
Amounts falling due after more than one year 7 (27,713 ) (44,967 )

PROVISIONS FOR LIABILITIES (22,575 ) (5,347 )
NET ASSETS 636,837 580,131

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 636,737 580,031
SHAREHOLDERS' FUNDS 636,837 580,131

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Fresco Ceilings Ltd (Registered number: 06429569)

Balance Sheet - continued
30 April 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 8 January 2024 and were signed by:





Mrs A Muenster-Staines - Director


Fresco Ceilings Ltd (Registered number: 06429569)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Fresco Ceilings 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.

Turnover is also recorded on contracts as activity progresses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 6 years
Plant and machinery - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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

Financial instruments
Basic financial instruments are recognised at amortised costs. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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.

Fresco Ceilings Ltd (Registered number: 06429569)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued

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.

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 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2022 28,367 8,136 9,896
Additions - - -
Disposals - - -
At 30 April 2023 28,367 8,136 9,896
DEPRECIATION
At 1 May 2022 28,367 7,441 9,896
Charge for year - 307 -
Eliminated on disposal - - -
At 30 April 2023 28,367 7,748 9,896
NET BOOK VALUE
At 30 April 2023 - 388 -
At 30 April 2022 - 695 -

Fresco Ceilings Ltd (Registered number: 06429569)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2022 107,153 27,243 180,795
Additions 42,000 2,065 44,065
Disposals (25,500 ) (1,783 ) (27,283 )
At 30 April 2023 123,653 27,525 197,577
DEPRECIATION
At 1 May 2022 30,926 24,012 100,642
Charge for year 25,449 1,622 27,378
Eliminated on disposal (18,963 ) (1,783 ) (20,746 )
At 30 April 2023 37,412 23,851 107,274
NET BOOK VALUE
At 30 April 2023 86,241 3,674 90,303
At 30 April 2022 76,227 3,231 80,153

The net book value of fixed assets held under hire purchase agreements at 30 April 2023 is £18,025 (2022 £31,695).

5. DEBTORS
30.4.23 30.4.22
£    £   
Amounts falling due within one year:
Trade debtors 108,676 168,842
Amounts recoverable on contract 440,218 424,501
Other debtors 214,181 77,888
763,075 671,231

Amounts falling due after more than one year:
Other debtors 2,588 2,588

Aggregate amounts 765,663 673,819

Fresco Ceilings Ltd (Registered number: 06429569)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 8) 7,255 10,922
Trade creditors 141,090 119,954
Taxation and social security 8,523 6,793
Other creditors 169,377 86,986
336,245 234,655

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans 21,667 31,667
Hire purchase contracts (see note 8) 6,046 13,300
27,713 44,967

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.23 30.4.22
£    £   
Net obligations repayable:
Within one year 7,255 10,922
Between one and five years 6,046 13,300
13,301 24,222

Non-cancellable operating leases
30.4.23 30.4.22
£    £   
Within one year - 1,250

9. SECURED DEBTS

Barclays Security Trustee Limited holds fixed and floating charges over the company, which covers all the property or undertaking of the company and contains negative pledge.