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REGISTERED NUMBER: 02857820 (England and Wales)















Discount Wallpapers Limited

Unaudited Financial Statements For The Year Ended 31 December 2023






Discount Wallpapers Limited (Registered number: 02857820)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Discount Wallpapers Limited

Company Information
For The Year Ended 31 December 2023







DIRECTORS: P R O'Neill
Mrs P O'Neill
Miss K O'Neill





SECRETARY: P R O'Neill





REGISTERED OFFICE: 164 Walkden Road
Worsley
Manchester
M28 7DP





REGISTERED NUMBER: 02857820 (England and Wales)





ACCOUNTANTS: Huddart
Chartered Accountants
164 Walkden Road
Walkden
Worsley
Manchester
M28 7DP

Discount Wallpapers Limited (Registered number: 02857820)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 22,521 14,620
22,521 14,620

CURRENT ASSETS
Stocks 264,638 275,605
Debtors 6 938,481 1,116,859
Cash at bank and in hand 374,613 153,984
1,577,732 1,546,448
CREDITORS
Amounts falling due within one year 7 (98,332 ) (63,609 )
NET CURRENT ASSETS 1,479,400 1,482,839
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,501,921

1,497,459

PROVISIONS FOR LIABILITIES (3,616 ) (1,112 )
NET ASSETS 1,498,305 1,496,347

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,498,205 1,496,247
1,498,305 1,496,347

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 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.

Discount Wallpapers Limited (Registered number: 02857820)

Balance Sheet - continued
31 December 2023


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 19 September 2024 and were signed on its behalf by:





Miss K O'Neill - Director


Discount Wallpapers Limited (Registered number: 02857820)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Discount Wallpapers 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, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill written off, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

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.

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

Discount Wallpapers Limited (Registered number: 02857820)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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 3 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 250,000
AMORTISATION
At 1 January 2023
and 31 December 2023 250,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 193,797
Additions 11,659
At 31 December 2023 205,456
DEPRECIATION
At 1 January 2023 179,177
Charge for year 3,758
At 31 December 2023 182,935
NET BOOK VALUE
At 31 December 2023 22,521
At 31 December 2022 14,620

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 34,587 34,994
Other debtors 903,894 1,081,865
938,481 1,116,859

Discount Wallpapers Limited (Registered number: 02857820)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 29,093 29,468
Taxation and social security 60,791 30,693
Other creditors 8,448 3,448
98,332 63,609

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31st December 2023 the Directors owed the Company £771,475.10. (2022: £617,090.97)