2023-04-012024-03-312024-03-31false06309298IAN DAY DECORATORS 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IAN DAY DECORATORS LIMITED

Registered Number
06309298
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

IAN DAY DECORATORS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

DAY, Ian
DAY, Michelle

Company Secretary

DAY, Ian

Registered Address

1 Gemini Court
42a Throwley Way,
Sutton
SM1 4AF

Registered Number

06309298 (England and Wales)
IAN DAY DECORATORS LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets331,8035,919
31,8035,919
Current assets
Debtors410,5553,275
Cash at bank and on hand68,88767,989
79,44271,264
Creditors amounts falling due within one year5(57,169)(39,074)
Net current assets (liabilities)22,27332,190
Total assets less current liabilities54,07638,109
Creditors amounts falling due after one year6(29,167)(34,722)
Provisions for liabilities7(7,638)(1,125)
Net assets17,2712,262
Capital and reserves
Called up share capital100100
Profit and loss account17,1712,162
Shareholders' funds17,2712,262
The financial statements were approved and authorised for issue by the Board of Directors on 13 August 2024, and are signed on its behalf by:
DAY, Ian
Director
Registered Company No. 06309298
IAN DAY DECORATORS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
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.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Vehicles25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year33
3.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 April 2336,0481,65437,702
Additions38,985-38,985
Disposals(21,886)-(21,886)
At 31 March 2453,1471,65454,801
Depreciation and impairment
At 01 April 2330,1881,59531,783
Charge for year10,5861510,601
On disposals(19,386)-(19,386)
At 31 March 2421,3881,61022,998
Net book value
At 31 March 2431,7594431,803
At 31 March 235,860595,919
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables9,3801,440
Other debtors6501,150
Prepayments and accrued income525685
Total10,5553,275
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,200-
Bank borrowings and overdrafts5,5565,556
Taxation and social security17,97029,045
Other creditors28,6091,472
Accrued liabilities and deferred income3,8343,001
Total57,16939,074
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts29,16734,722
Total29,16734,722
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)7,6381,125
Total7,6381,125