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REGISTERED NUMBER: SC385078 (Scotland)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

NODRAM DECORATORS LIMITED

NODRAM DECORATORS LIMITED (REGISTERED NUMBER: SC385078)






Contents of the Financial Statements
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NODRAM DECORATORS LIMITED

Company Information
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: D Macphee
C Macphee
Mrs E A MacPhee
Ms C Ballesteros





SECRETARY: Mrs E MacPhee





REGISTERED OFFICE: Block 6, Units 1-3
Whiteside Industrial Estate
Bathgate
EH48 2RX





REGISTERED NUMBER: SC385078 (Scotland)





ACCOUNTANTS: Fyfe Moir & Associates
1st Floor, 5 Abercrombie Crt
Prospect Road,
Westhill
Aberdeenshire
Grampian
AB32 6FE

NODRAM DECORATORS LIMITED (REGISTERED NUMBER: SC385078)

Balance Sheet
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 344,438 402,338

CURRENT ASSETS
Stocks 16,773 26,584
Debtors 5 610,919 692,499
Cash at bank and in hand 184,106 293,639
811,798 1,012,722
CREDITORS
Amounts falling due within one year 6 447,613 472,450
NET CURRENT ASSETS 364,185 540,272
TOTAL ASSETS LESS CURRENT
LIABILITIES

708,623

942,610

CREDITORS
Amounts falling due after more than one year 7 (63,386 ) (208,172 )

PROVISIONS FOR LIABILITIES 9 (23,144 ) (28,505 )
NET ASSETS 622,093 705,933

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 621,993 705,833
SHAREHOLDERS' FUNDS 622,093 705,933

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

NODRAM DECORATORS LIMITED (REGISTERED NUMBER: SC385078)

Balance Sheet - continued
29 FEBRUARY 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 Board of Directors and authorised for issue on 9 August 2024 and were signed on its behalf by:




D Macphee - Director



C Macphee - Director


NODRAM DECORATORS LIMITED (REGISTERED NUMBER: SC385078)

Notes to the Financial Statements
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Nodram Decorators Limited is a private company, limited by shares , registered in Scotland. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Motor vehicles - 33% on cost
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

NODRAM DECORATORS LIMITED (REGISTERED NUMBER: SC385078)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 30 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 249,828 25,920 268,262 17,222 561,232
Additions - - 64,496 - 64,496
Disposals - - (119,163 ) - (119,163 )
At 29 February 2024 249,828 25,920 213,595 17,222 506,565
DEPRECIATION
At 1 March 2023 - 14,049 132,137 12,708 158,894
Charge for year - 2,492 34,923 2,318 39,733
Eliminated on disposal - - (36,500 ) - (36,500 )
At 29 February 2024 - 16,541 130,560 15,026 162,127
NET BOOK VALUE
At 29 February 2024 249,828 9,379 83,035 2,196 344,438
At 28 February 2023 249,828 11,871 136,125 4,514 402,338

NODRAM DECORATORS LIMITED (REGISTERED NUMBER: SC385078)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2023 234,723
Additions 64,496
Disposals (119,163 )
Transfer to ownership (76,041 )
At 29 February 2024 104,015
DEPRECIATION
At 1 March 2023 121,543
Charge for year 24,477
Eliminated on disposal (36,500 )
Transfer to ownership (76,041 )
At 29 February 2024 33,479
NET BOOK VALUE
At 29 February 2024 70,536
At 28 February 2023 113,180

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 571,908 645,283
Other debtors 1,000 1,100
VAT 19,048 22,011
Prepayments 18,963 24,105
610,919 692,499

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 44,519 48,237
Hire purchase contracts 26,323 35,487
Trade creditors 136,535 158,550
Tax 44,179 49,691
Social security and other taxes 25,774 34,384
Nodram decorators (North) Ltd 38,247 38,247
Directors' current accounts 11,806 14,962
Accrued expenses 120,230 92,892
447,613 472,450

NODRAM DECORATORS LIMITED (REGISTERED NUMBER: SC385078)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans - 1-2 years 3,266 69,190
Bank loans - 2-5 years - 46,170
Bank loans more 5 yr by instal - 8,936
Hire purchase contracts 60,120 83,876
63,386 208,172

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 8,936

8. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 47,785 172,533
Hire purchase contracts 86,443 119,363
134,228 291,896

The Bank of Scotland holds a floating charge over all the property or undertakings of the company.

They also hold a personal guarantee from the directors amounting to £125,000.

On 31 January 2020 a standard security was granted over the company's property at Units 1-3, 6 Whiteside Industrial Estate, Bathgate EH48 2RX was made in favour of the Bank of Scotland.

9. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 23,144 28,505

Deferred
tax
£   
Balance at 1 March 2023 28,505
Provided during year (5,361 )
Balance at 29 February 2024 23,144