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Registered number: 10821285
JLH Decorators Ltd
Financial Statements
For The Year Ended 31 March 2024
Dymond Ashworth
Chartered Certified Accountants
First Floor 98-100
Gisburn Road
Barrowford
Lancashire
BB9 6EW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10821285
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,747 4,669
3,747 4,669
CURRENT ASSETS
Debtors 5 18,560 19,325
18,560 19,325
Creditors: Amounts Falling Due Within One Year 6 (9,319 ) (10,827 )
NET CURRENT ASSETS (LIABILITIES) 9,241 8,498
TOTAL ASSETS LESS CURRENT LIABILITIES 12,988 13,167
Creditors: Amounts Falling Due After More Than One Year 7 (9,597 ) (12,417 )
NET ASSETS 3,391 750
CAPITAL AND RESERVES
Called up share capital 8 750 750
Profit and Loss Account 2,641 -
SHAREHOLDERS' FUNDS 3,391 750
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Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr L Horne
Director
30/04/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
JLH Decorators Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10821285 . The registered office is 24 Herschel Ave, Burnley, Lancashirre, BB12 0LN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.4. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 4,719 11,340 410 1,110 17,579
As at 31 March 2024 4,719 11,340 410 1,110 17,579
Depreciation
As at 1 April 2023 2,420 9,388 255 847 12,910
Provided during the period 345 488 23 66 922
As at 31 March 2024 2,765 9,876 278 913 13,832
Net Book Value
As at 31 March 2024 1,954 1,464 132 197 3,747
As at 1 April 2023 2,299 1,952 155 263 4,669
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 18,560 19,325
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 500 500
Bank loans and overdrafts 3,132 4,731
Other creditors 948 948
Taxation and social security 4,739 4,648
9,319 10,827
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 9,597 12,417
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 750 750
Page 5