Registered number
09873192
Lick A Paint Limited
Filleted Accounts
31 December 2023
Lick A Paint Limited
Registered number: 09873192
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 20,087 19,638
Current assets
Stocks 850 850
Debtors 4 121,850 105,378
Cash at bank and in hand 6,876 12,216
129,576 118,444
Creditors: amounts falling due within one year 5 (81,551) (68,889)
Net current assets 48,025 49,555
Total assets less current liabilities 68,112 69,193
Creditors: amounts falling due after more than one year 6 (29,578) (32,867)
Net assets 38,534 36,326
Capital and reserves
Called up share capital 2 2
Profit and loss account 38,532 36,324
Shareholder's funds 38,534 36,326
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Haycox
Director
Approved by the board on 23 September 2024
Lick A Paint Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 6 years
Motor vehicles over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 16,107 17,500 33,607
Additions - 8,292 8,292
At 31 December 2023 16,107 25,792 41,899
Depreciation
At 1 January 2023 10,469 3,500 13,969
Charge for the year 2,685 5,158 7,843
At 31 December 2023 13,154 8,658 21,812
Net book value
At 31 December 2023 2,953 17,134 20,087
At 31 December 2022 5,638 14,000 19,638
4 Debtors 2023 2022
£ £
Trade debtors 121,719 105,247
Other debtors 131 131
121,850 105,378
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,568 7,675
Obligations under finance lease and hire purchase contracts 3,500 3,500
Trade creditors 36,467 33,832
Taxation and social security costs 27,016 18,882
Other creditors 5,000 5,000
81,551 68,889
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 21,902 21,691
Obligations under finance lease and hire purchase contracts 7,676 11,176
29,578 32,867
7 Controlling party
The company is controlled by P Haycox and S Newell.
8 Other information
Lick A Paint Limited is a private company limited by shares and incorporated in England. Its registered office is:
50 Hoyland Road
Hoyland Common
Barnsley
S74 0PB
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