MS DECORATING LIMITED

Company Registration Number:
NI604827 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 October 2023

Period of accounts

Start date: 01 November 2022

End date: 31 October 2023

MS DECORATING LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2023

Balance sheet
Notes

MS DECORATING LIMITED

Balance sheet

As at 31 October 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 23,704 51,997
Total fixed assets: 23,704 51,997
Current assets
Stocks: 109,751 162,994
Debtors:   46,957 30,733
Cash at bank and in hand: 235,762 227,168
Total current assets: 392,470 420,895
Creditors: amounts falling due within one year:   (60,353) (87,983)
Net current assets (liabilities): 332,117 332,912
Total assets less current liabilities: 355,821 384,909
Total net assets (liabilities): 355,821 384,909
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 355,819 384,907
Shareholders funds: 355,821 384,909

The notes form part of these financial statements

MS DECORATING LIMITED

Balance sheet statements

For the year ending 31 October 2023 the company was entitled to exemption 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.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 July 2024
and signed on behalf of the board by:

Name: Mr Seamus Reid
Status: Director

The notes form part of these financial statements

MS DECORATING LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods suppliedand services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership havetransferred to the buyer (usually on despatch of the goods); the amount of revenue can be measuredreliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurredor to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,over the useful economic life of that asset as follows:Plant and machinery - 25% straight lineFittings fixtures and equipment - 25% straight lineMotor vehicles - 25% straight lineIf there is an indication that there has been a significant change in depreciation rate, useful life orresidual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

MS DECORATING LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

2. Employees

2023 2022
Average number of employees during the period 11 12

MS DECORATING LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Tangible Assets

Total
Cost £
At 01 November 2022 236,098
Additions 1,382
Disposals (9,578)
At 31 October 2023 227,902
Depreciation
At 01 November 2022 184,101
Charge for year 29,675
On disposals (9,578)
At 31 October 2023 204,198
Net book value
At 31 October 2023 23,704
At 31 October 2022 51,997

MS DECORATING LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Loans to directors

Name of director receiving advance or credit: Mr S Reid
Description of the loan: Loan
£
Balance at 01 November 2022 0
Advances or credits made: 23,300
Advances or credits repaid: 20,000
Balance at 31 October 2023 3,300