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REGISTERED NUMBER: 13255223 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Matthew James Painting & Decorating
Limited

Matthew James Painting & Decorating
Limited (Registered number: 13255223)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Matthew James Painting & Decorating
Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: M J Iremonger





REGISTERED OFFICE: 6 Hodgebrook House
Camberley
Berkshire
GU16 6GL





REGISTERED NUMBER: 13255223 (England and Wales)





ACCOUNTANTS: Aivilo Digital Accountancy Ltd
49 Hurford Drive
Thatcham
Berkshire
RG19 4WA

Matthew James Painting & Decorating
Limited (Registered number: 13255223)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,079 2,998

CURRENT ASSETS
Stocks - 5,287
Debtors 5 7,805 1,330
Cash at bank 4,660 3,407
12,465 10,024
CREDITORS
Amounts falling due within one year 6 12,115 8,802
NET CURRENT ASSETS 350 1,222
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,429

4,220

CREDITORS
Amounts falling due after more than
one year

7

(1,906

)

(3,342

)

PROVISIONS FOR LIABILITIES (395 ) (571 )
NET ASSETS 128 307

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 28 207
128 307

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Matthew James Painting & Decorating
Limited (Registered number: 13255223)

Balance Sheet - continued
31 March 2024


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 director and authorised for issue on 31 July 2024 and were signed by:





M J Iremonger - Director


Matthew James Painting & Decorating
Limited (Registered number: 13255223)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Matthew James Painting & Decorating Limited 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 comprises the fair value of the consideration received or receivable for the sale of
painting and decorating services in the ordinary course of the company’s activities.
Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it
is probable that future economic benefits will flow to the entity and specific criteria have been
met in the ordinary course of the company's activities.

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 - 25% on cost
Motor vehicles - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Matthew James Painting & Decorating
Limited (Registered number: 13255223)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 590 4,840 - 5,430
Additions - - 539 539
At 31 March 2024 590 4,840 539 5,969
DEPRECIATION
At 1 April 2023 12 2,420 - 2,432
Charge for year 147 1,210 101 1,458
At 31 March 2024 159 3,630 101 3,890
NET BOOK VALUE
At 31 March 2024 431 1,210 438 2,079
At 31 March 2023 578 2,420 - 2,998

Matthew James Painting & Decorating
Limited (Registered number: 13255223)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 4,545 1,330
Directors' current accounts 3,260 -
7,805 1,330

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 1,486 1,441
Trade creditors 419 952
Tax 4,471 -
Social security and other taxes 929 1,987
VAT 2,950 1,686
Directors' current accounts - 1,186
Accruals and deferred income 1,860 1,550
12,115 8,802

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans more than 1 year 1,906 3,342

8. CONTINGENT LIABILITIES

There were no contingent liabilities as at 31 March 2024 or at 31 March 2023.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
M J Iremonger
Balance outstanding at start of year (1,186 ) (412 )
Amounts advanced 4,446 (774 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,260 (1,186 )

Matthew James Painting & Decorating
Limited (Registered number: 13255223)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. RELATED PARTY DISCLOSURES

During the year the director made a loan with the company. The balance owed by the director as at 31 March 2024 was £3,260 (March 2023 was £1,186) .

11. ULTIMATE CONTROLLING PARTY

The controlling party is M J Iremonger.