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REGISTERED NUMBER: 07039470 (England and Wales)






















Specialist Paints Online Limited

Unaudited Financial Statements for the Year Ended 31 December 2023






Specialist Paints Online Limited (Registered number: 07039470)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Specialist Paints Online Limited

Company Information
for the year ended 31 December 2023







DIRECTOR: B G Mackrill





SECRETARY: S. Moore





REGISTERED OFFICE: 3 Kirkby Street
Hull
East Yorkshire
HU2 0HE





REGISTERED NUMBER: 07039470 (England and Wales)





ACCOUNTANTS: Smailes Goldie Limited
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Specialist Paints Online Limited (Registered number: 07039470)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 122 122
Debtors 5 684 1,679
Cash at bank and in hand 2,502 6,528
3,308 8,329
CREDITORS
Amounts falling due within one year 6 48,522 49,834
NET CURRENT LIABILITIES (45,214 ) (41,505 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(45,214

)

(41,505

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (45,314 ) (41,605 )
(45,214 ) (41,505 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 6 August 2024 and were signed by:





B G Mackrill - Director


Specialist Paints Online Limited (Registered number: 07039470)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Specialist Paints Online 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.

The accounts have been prepared on a going concern basis on the basis that continued support will be provided by a company controlled by Mr B.G. Mackrill. The director is confident that this support will continue.

In the event of a withdrawal of these facilities, adjustments might have to be made to the carrying value of fixed assets and to reflect any additional liabilities.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.
Plant and machinery etc - 33% on cost

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

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Specialist Paints Online Limited (Registered number: 07039470)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 8,880
DEPRECIATION
At 1 January 2023
and 31 December 2023 8,880
NET BOOK VALUE
At 31 December 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 506 1,679
Other debtors 178 -
684 1,679

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,726 4,204
Other creditors 45,796 45,630
48,522 49,834