Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalse162023-05-01falsePainting and decorating services16true 04428242 2023-05-01 2024-04-30 04428242 2022-05-01 2023-04-30 04428242 2024-04-30 04428242 2023-04-30 04428242 c:Director1 2023-05-01 2024-04-30 04428242 d:PlantMachinery 2023-05-01 2024-04-30 04428242 d:PlantMachinery 2024-04-30 04428242 d:PlantMachinery 2023-04-30 04428242 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04428242 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 04428242 d:MotorVehicles 2023-05-01 2024-04-30 04428242 d:MotorVehicles 2024-04-30 04428242 d:MotorVehicles 2023-04-30 04428242 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04428242 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 04428242 d:OfficeEquipment 2023-05-01 2024-04-30 04428242 d:OfficeEquipment 2024-04-30 04428242 d:OfficeEquipment 2023-04-30 04428242 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04428242 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 04428242 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04428242 d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 04428242 d:Goodwill 2024-04-30 04428242 d:Goodwill 2023-04-30 04428242 d:CurrentFinancialInstruments 2024-04-30 04428242 d:CurrentFinancialInstruments 2023-04-30 04428242 d:Non-currentFinancialInstruments 2024-04-30 04428242 d:Non-currentFinancialInstruments 2023-04-30 04428242 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 04428242 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 04428242 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 04428242 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 04428242 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 04428242 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 04428242 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 04428242 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 04428242 d:ShareCapital 2024-04-30 04428242 d:ShareCapital 2023-04-30 04428242 d:RetainedEarningsAccumulatedLosses 2024-04-30 04428242 d:RetainedEarningsAccumulatedLosses 2023-04-30 04428242 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-04-30 04428242 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-04-30 04428242 c:FRS102 2023-05-01 2024-04-30 04428242 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 04428242 c:AbridgedAccounts 2023-05-01 2024-04-30 04428242 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04428242 d:HirePurchaseContracts d:WithinOneYear 2024-04-30 04428242 d:HirePurchaseContracts d:WithinOneYear 2023-04-30 04428242 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-04-30 04428242 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-04-30 04428242 2 2023-05-01 2024-04-30 04428242 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-04-30 04428242 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-30 04428242 d:LeasedAssetsHeldAsLessee 2024-04-30 04428242 d:LeasedAssetsHeldAsLessee 2023-04-30 04428242 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 04428242









M J KLOSS PAINTING AND DECORATING LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024


 
M J KLOSS PAINTING AND DECORATING LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF M J KLOSS PAINTING AND DECORATING LIMITED
FOR THE YEAR ENDED 30 APRIL 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of M J Kloss Painting and Decorating Limited for the year ended 30 April 2024 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of M J Kloss Painting and Decorating Limited, as a body, in accordance with the terms of our engagement letter dated 23 November 2023Our work has been undertaken solely to prepare for your approval the financial statements of M J Kloss Painting and Decorating Limited and state those matters that we have agreed to state to the Board of directors of M J Kloss Painting and Decorating Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M J Kloss Painting and Decorating Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that M J Kloss Painting and Decorating Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of M J Kloss Painting and Decorating Limited. You consider that M J Kloss Painting and Decorating Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of M J Kloss Painting and Decorating Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



DMC Partnership Limited
 
Chartered Accountants
  
Yew Tree House
Lewes Road
Forest Row
East Sussex
RH18 5AA
26 July 2024
Page 1


 
M J KLOSS PAINTING AND DECORATING LIMITED
REGISTERED NUMBER:04428242

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
55,751
26,441

  
55,751
26,441

Current assets
  

Stocks
 6 
49,653
50,977

Debtors
 7 
123,948
113,296

Cash at bank and in hand
 8 
909,897
686,776

  
1,083,498
851,049

Creditors: amounts falling due within one year
 9 
(567,903)
(502,417)

Net current assets
  
 
 
515,595
 
 
348,632

Total assets less current liabilities
  
571,346
375,073

Creditors: amounts falling due after more than one year
 10 
(33,974)
(23,333)

Net assets
  
537,372
351,740


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
537,272
351,640

Shareholders' funds
  
537,372
351,740


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

Page 2


 
M J KLOSS PAINTING AND DECORATING LIMITED
REGISTERED NUMBER:04428242
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 July 2024.



Mr M Kloss
Director

The notes on pages 4 to 12 form part of these financial statements.

Page 3


 
M J KLOSS PAINTING AND DECORATING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

The Company is incorporated in England and Wales and is limited by shares.  The registered office is located at 8 Seaforth Avenue, New Malden, Surrey, KT3 6JP.
The company's principal activity during the year continued to be the provision of painting and decorating services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4


 
M J KLOSS PAINTING AND DECORATING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5


 
M J KLOSS PAINTING AND DECORATING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
15%
reducing balance
Motor vehicles
-
20%
straight-line
Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes
Page 6


 
M J KLOSS PAINTING AND DECORATING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.14
Financial instruments (continued)

party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 16 (2023 - 16).

Page 7


 
M J KLOSS PAINTING AND DECORATING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 May 2023
35,000



At 30 April 2024

35,000



Amortisation


At 1 May 2023
35,000



At 30 April 2024

35,000



Net book value



At 30 April 2024
-



At 30 April 2023
-



Page 8


 
M J KLOSS PAINTING AND DECORATING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 May 2023
19,842
53,732
14,258
87,832


Additions
-
60,815
-
60,815


Disposals
-
(12,650)
-
(12,650)



At 30 April 2024

19,842
101,897
14,258
135,997



Depreciation


At 1 May 2023
19,218
29,842
12,331
61,391


Charge for the year on owned assets
94
8,646
482
9,222


Charge for the year on financed assets
-
9,633
-
9,633



At 30 April 2024

19,312
48,121
12,813
80,246



Net book value



At 30 April 2024
530
53,776
1,445
55,751



At 30 April 2023
624
23,890
1,927
26,441

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
38,532
4,096

38,532
4,096


6.


Stocks

2024
2023
£
£

Work in progress
49,653
50,977

49,653
50,977


Page 9


 
M J KLOSS PAINTING AND DECORATING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Debtors


2024
2023
£
£



Trade debtors
94,203
103,448

Other debtors
10,000
1,404

Prepayments and accrued income
19,746
8,443

123,949
113,295



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
909,897
686,776

909,897
686,776



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Payments received on account
-
1,101

Trade creditors
182,595
140,171

Corporation tax
107,967
108,089

Other taxation and social security
197,429
210,225

Obligations under finance lease and hire purchase contracts
14,538
583

Other creditors
10,559
6,035

Accruals and deferred income
44,815
26,213

567,903
502,417


Page 10


 
M J KLOSS PAINTING AND DECORATING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
13,333
23,333

Net obligations under finance leases and hire purchase contracts
20,641
-

33,974
23,333



11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
3,333
13,333


3,333
13,333


23,333
33,333



12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
14,538
583

Between 1-5 years
20,641
-

35,179
583

Page 11


 
M J KLOSS PAINTING AND DECORATING LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

13.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
909,897
686,776




Financial assets measured at fair value through profit or loss comprise solely of cash at bank.


14.


Transactions with directors

Included in other creditors due within one year is a loan from the directors, Mr M Kloss and Mrs S Kloss amounting to £(27) [2023 - £(252)].  


15.


Controlling party

The Company was controlled throughout the current and previous period by its directors, Mr M Kloss and Mrs S Kloss by virtue of the fact that between them they own the majority of the company's ordinary share capital.

 
Page 12