Company registration number 03111025 (England and Wales)
DEXTER PAINTS HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
DEXTER PAINTS HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
DEXTER PAINTS HOLDINGS LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
255,936
264,463
Investments
4
-
0
1
255,936
264,464
Current assets
Debtors
5
15,770
54,137
Cash at bank and in hand
369,222
345,536
384,992
399,673
Creditors: amounts falling due within one year
6
(37,928)
(40,278)
Net current assets
347,064
359,395
Net assets
603,000
623,859
Capital and reserves
Called up share capital
7
1,042
1,042
Profit and loss reserves
601,958
622,817
Total equity
603,000
623,859

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 15 May 2024
Mr N R Eatough
Director
Company registration number 03111025 (England and Wales)
DEXTER PAINTS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information

Dexter Paints Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 14 Bonfire Hill Close, Crawshawbooth, Rossendale, Lancashire, BB4 8PP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Turnover
Turnover represents rental income and service charges net of VAT.
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Freehold land and buildings
2% straight line
Plant and machinery
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

DEXTER PAINTS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes 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.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
DEXTER PAINTS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 December 2022 and 30 November 2023
421,394
1,564
422,958
Depreciation and impairment
At 1 December 2022
157,325
1,170
158,495
Depreciation charged in the year
8,428
99
8,527
At 30 November 2023
165,753
1,269
167,022
Carrying amount
At 30 November 2023
255,641
295
255,936
At 30 November 2022
264,069
394
264,463
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
-
0
1
Movements in fixed asset investments
Shares in associates
£
Cost or valuation
At 1 December 2022
1
Disposals
(1)
At 30 November 2023
-
Carrying amount
At 30 November 2023
-
At 30 November 2022
1

DLP North West Ltd, a company in which Dexter Paints Holdings Ltd held one share, was dissolved on 31 January 2023. The investment has therefore been written off during the year.

DEXTER PAINTS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,207
3,072
Other debtors
13,563
51,065
15,770
54,137
6
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
29,236
29,236
Other creditors
8,692
11,042
37,928
40,278

Other creditors includes amounts due to the director of £491. In the prior year, the director owed the company £32,998.

7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 10p each
10,000
10,000
1,000
1,000
Ordinary A shares of 10p each
417
417
42
42
10,417
10,417
1,042
1,042
2023-11-302022-12-01false16 May 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr N R Eatoughfalsefalse031110252022-12-012023-11-30031110252023-11-30031110252022-11-3003111025core:LandBuildings2023-11-3003111025core:OtherPropertyPlantEquipment2023-11-3003111025core:LandBuildings2022-11-3003111025core:OtherPropertyPlantEquipment2022-11-3003111025core:CurrentFinancialInstrumentscore:WithinOneYear2023-11-3003111025core:CurrentFinancialInstrumentscore:WithinOneYear2022-11-3003111025core:CurrentFinancialInstruments2023-11-3003111025core:CurrentFinancialInstruments2022-11-3003111025core:ShareCapital2023-11-3003111025core:ShareCapital2022-11-3003111025core:RetainedEarningsAccumulatedLosses2023-11-3003111025core:RetainedEarningsAccumulatedLosses2022-11-3003111025core:ShareCapitalOrdinaryShares2023-11-3003111025core:ShareCapitalOrdinaryShares2022-11-3003111025bus:Director12022-12-012023-11-3003111025core:LandBuildingscore:OwnedOrFreeholdAssets2022-12-012023-11-3003111025core:PlantMachinery2022-12-012023-11-30031110252021-12-012022-11-3003111025core:LandBuildings2022-11-3003111025core:OtherPropertyPlantEquipment2022-11-30031110252022-11-3003111025core:LandBuildings2022-12-012023-11-3003111025core:OtherPropertyPlantEquipment2022-12-012023-11-3003111025core:WithinOneYear2023-11-3003111025core:WithinOneYear2022-11-3003111025bus:PrivateLimitedCompanyLtd2022-12-012023-11-3003111025bus:SmallCompaniesRegimeForAccounts2022-12-012023-11-3003111025bus:FRS1022022-12-012023-11-3003111025bus:AuditExemptWithAccountantsReport2022-12-012023-11-3003111025bus:FullAccounts2022-12-012023-11-30xbrli:purexbrli:sharesiso4217:GBP