2023-07-012024-06-302024-06-30false06297195RAFFERTY DECORATING SERVICES 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RAFFERTY DECORATING SERVICES LTD

Registered Number
06297195
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

RAFFERTY DECORATING SERVICES LTD
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

RAFFERTY, Mark
RAFFERTY, Michael Thomas

Company Secretary

RAFFERTY, Debra

Registered Address

Lismar, 84 Sycamore Road
Netherton
Maryport
CA15 7AE

Registered Number

06297195 (England and Wales)
RAFFERTY DECORATING SERVICES LTD
Statement of Financial Position
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets321,58425,754
21,58425,754
Current assets
Stocks424,66435,103
Debtors578,64985,399
Cash at bank and on hand144,294200,920
247,607321,422
Creditors amounts falling due within one year6(18,447)(34,199)
Net current assets (liabilities)229,160287,223
Total assets less current liabilities250,744312,977
Provisions for liabilities7(5,396)(6,825)
Net assets245,348306,152
Capital and reserves
Called up share capital100100
Profit and loss account245,248306,052
Shareholders' funds245,348306,152
The financial statements were approved and authorised for issue by the Board of Directors on 8 October 2024, and are signed on its behalf by:
RAFFERTY, Michael Thomas
Director
Registered Company No. 06297195
RAFFERTY DECORATING SERVICES LTD
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Turnover policy
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/or 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.
Operating leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year1414
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 July 2315,54537,70053,245
Additions-2,5002,500
Disposals-(5,000)(5,000)
At 30 June 2415,54535,20050,745
Depreciation and impairment
At 01 July 2311,26316,22827,491
Charge for year4284,4324,860
On disposals-(3,190)(3,190)
At 30 June 2411,69117,47029,161
Net book value
At 30 June 243,85417,73021,584
At 30 June 234,28221,47225,754
4.Stocks

2024

2023

££
Raw materials and consumables4,4004,400
Work in progress20,26430,703
Total24,66435,103
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables58,55660,299
Other debtors19,03624,581
Prepayments and accrued income1,057519
Total78,64985,399
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables3,5864,142
Taxation and social security4,36418,093
Accrued liabilities and deferred income10,49711,964
Total18,44734,199
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)5,3966,825
Total5,3966,825