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REGISTERED NUMBER: 07874322 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

DIY HOME DECORATIONS LTD

DIY HOME DECORATIONS LTD (REGISTERED NUMBER: 07874322)

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


DIY HOME DECORATIONS LTD

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs Elif Tas
Mr Ibrahim Tas





REGISTERED OFFICE: Ernest House
293 Green Lanes
Palmers Green
London
N13 4XS





REGISTERED NUMBER: 07874322 (England and Wales)





ACCOUNTANTS: ADPL LLP
293 Green Lanes
London
N13 4XS

DIY HOME DECORATIONS LTD (REGISTERED NUMBER: 07874322)

Balance Sheet
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,085 45,867

CURRENT ASSETS
Stocks 554,900 555,000
Debtors 5 540,589 600,111
Cash at bank and in hand 51,326 111,910
1,146,815 1,267,021
CREDITORS
Amounts falling due within one year 6 609,843 763,027
NET CURRENT ASSETS 536,972 503,994
TOTAL ASSETS LESS CURRENT
LIABILITIES

576,057

549,861

CREDITORS
Amounts falling due after more than one
year

7

(180,369

)

(167,430

)

PROVISIONS FOR LIABILITIES 8 (6,563 ) (7,808 )
NET ASSETS 389,125 374,623

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 388,125 373,623
SHAREHOLDERS' FUNDS 389,125 374,623

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.

DIY HOME DECORATIONS LTD (REGISTERED NUMBER: 07874322)

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 25 September 2024 and were signed on its behalf by:





Mrs Elif Tas - Director


DIY HOME DECORATIONS LTD (REGISTERED NUMBER: 07874322)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

DIY Home Decorations Ltd 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 are prepared on a going concern basis, the use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

In carrying out this assessment, the directors have considered the impact of the Covid-19 pandemic on the trade and finances of the company and wider group and they have taken steps to protect liquidity.
The directors are therefore satisfied that there is no significant risk to the ability of the company to continue as a going concern for at least 12 months from the date of approval of these financial statements.

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.
Short leasehold - in accordance with the property
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 25% on reducing balance

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.


DIY HOME DECORATIONS LTD (REGISTERED NUMBER: 07874322)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


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 7 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 January 2023
and 31 December 2023 6,816 2,240 11,010
DEPRECIATION
At 1 January 2023 2,044 2,072 7,272
Charge for year 227 42 934
At 31 December 2023 2,271 2,114 8,206
NET BOOK VALUE
At 31 December 2023 4,545 126 2,804
At 31 December 2022 4,772 168 3,738

DIY HOME DECORATIONS LTD (REGISTERED NUMBER: 07874322)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 68,029 4,243 92,338
DEPRECIATION
At 1 January 2023 31,847 3,236 46,471
Charge for year 5,428 151 6,782
At 31 December 2023 37,275 3,387 53,253
NET BOOK VALUE
At 31 December 2023 30,754 856 39,085
At 31 December 2022 36,182 1,007 45,867

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 64,029
DEPRECIATION
At 1 January 2023 30,629
Charge for year 5,010
At 31 December 2023 35,639
NET BOOK VALUE
At 31 December 2023 28,390
At 31 December 2022 33,400

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 26,539 64,644
Other debtors 514,050 535,467
540,589 600,111

DIY HOME DECORATIONS LTD (REGISTERED NUMBER: 07874322)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 21,809 -
VAT Accrued (1,052 ) (8,112 )
Trade creditors 105,254 211,587
Tax 20,774 35,712
Social security and other taxes 18,054 1,381
Pension 1,231 278
VAT 15,414 14,723
Other creditors 330,000 315,500
Directors' current accounts 97,159 190,758
Accruals and deferred income 1,200 1,200
609,843 763,027

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 2-5 years 29,120 39,132
Other loans - 2-5 years 151,249 128,298
180,369 167,430

8. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 6,563 7,808

Deferred
tax
£   
Balance at 1 January 2023 7,808
Credit to Income Statement during year (1,245 )
Balance at 31 December 2023 6,563

9. ULTIMATE CONTROLLING PARTY

This company was under the control of Mrs Elif Tas throughout the current period by virtue of her majority shareholding.