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REGISTERED NUMBER: 04628390 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

N P DECORATORS LIMITED

N P DECORATORS LIMITED (REGISTERED NUMBER: 04628390)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


N P DECORATORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: N Parker



REGISTERED OFFICE: 12 Conqueror Court
Sittingbourne
Kent
ME10 5BH



REGISTERED NUMBER: 04628390 (England and Wales)



ACCOUNTANTS: Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH



BANKERS: National Westminster Bank Plc
148 High Street
Chatham
Kent
ME4 4DB

N P DECORATORS LIMITED (REGISTERED NUMBER: 04628390)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,048 8,064

CURRENT ASSETS
Debtors 5 22,632 27,003

CREDITORS
Amounts falling due within one year 6 26,863 29,824
NET CURRENT LIABILITIES (4,231 ) (2,821 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,817

5,243

CREDITORS
Amounts falling due after more than one
year

7

-

(1,645

)

PROVISIONS FOR LIABILITIES 9 (1,512 ) (2,016 )
NET ASSETS 305 1,582

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 205 1,482
SHAREHOLDERS' FUNDS 305 1,582

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

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

N P DECORATORS LIMITED (REGISTERED NUMBER: 04628390)

BALANCE SHEET - continued
31 JANUARY 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 15 August 2024 and were signed by:





N Parker - Director


N P DECORATORS LIMITED (REGISTERED NUMBER: 04628390)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

N P Decorators 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 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 rendering of painting and decorating services.

Turnover from the rendering of decorating services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of 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 reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
Financial assets - trade and other debtors are basic financial instruments and debt instruments measured at fair value through the Income Statement and are measured subsequently at amortised cost. Prepayments are not financial instruments.

Cash comprises cash at bank, in hand and short term deposits with an original maturity date of three months or less. Cash at bank is measured at face value.

Financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Finance costs are charged to the Income Statement over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. Borrowing costs are not capitalised.

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.


N P DECORATORS LIMITED (REGISTERED NUMBER: 04628390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 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.

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.

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 NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023
and 31 January 2024 491 939 16,491 1,290 19,211
DEPRECIATION
At 1 February 2023 474 936 8,762 975 11,147
Charge for year 4 1 1,932 79 2,016
At 31 January 2024 478 937 10,694 1,054 13,163
NET BOOK VALUE
At 31 January 2024 13 2 5,797 236 6,048
At 31 January 2023 17 3 7,729 315 8,064

N P DECORATORS LIMITED (REGISTERED NUMBER: 04628390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 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 February 2023
and 31 January 2024 16,491
DEPRECIATION
At 1 February 2023 8,762
Charge for year 1,932
At 31 January 2024 10,694
NET BOOK VALUE
At 31 January 2024 5,797
At 31 January 2023 7,729

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 8,158 5,636
Other debtors 14,474 21,367
22,632 27,003

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 17,397 14,577
Hire purchase contracts 1,645 3,802
Trade creditors 1,909 2,146
Taxation and social security 3,442 6,549
Other creditors 2,470 2,750
26,863 29,824

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts - 1,645

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 1,645 5,447

N P DECORATORS LIMITED (REGISTERED NUMBER: 04628390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,512 2,016

Deferred
tax
£   
Balance at 1 February 2023 2,016
Movement (504 )
Balance at 31 January 2024 1,512

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the amount owed by the director to the company was £13,349 (2023: £19,946)