Registered number
11542462
DA Decorators Limited
Unaudited Filleted Accounts
31 October 2023
DA Decorators Limited
Registered number: 11542462
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 15,845 30,237
15,845 30,237
Current assets
Debtors 4 20,053 61,477
Cash at bank and in hand 12,463 9,033
32,516 70,510
Creditors: amounts falling due within one year 5 (15,226) (31,608)
Net current assets 17,290 38,902
Total assets less current liabilities 33,135 69,139
Creditors: amounts falling due after more than one year 6 (29,954) (62,687)
Provisions for liabilities (3,011) (5,745)
Net assets 170 707
Capital and reserves
Called up share capital 100 100
Profit and loss account 70 607
Shareholder's funds 170 707
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.
Mr. D. J. Anthony
Director
Approved by the board on 30 September 2024
DA Decorators Limited
Notes to the Accounts
for the year ended 31 October 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 value added taxes. Turnover includes revenue earned from the rendering of services. 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:
Motor vehicles over 5 years
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 November 2022 2,615 69,345 71,960
Additions - - -
Surplus on revaluation - - -
Disposals - - -
At 31 October 2023 2,615 69,345 71,960
Depreciation
At 1 November 2022 813 40,910 41,723
Charge for the year 523 13,869 14,392
Surplus on revaluation - - -
On disposals - - -
At 31 October 2023 1,336 54,779 56,115
Net book value
At 31 October 2023 1,279 14,566 15,845
At 31 October 2022 1,802 28,435 30,237
4 Debtors 2023 2022
£ £
Trade debtors 13,076 49,089
Other debtors 6,977 12,388
20,053 61,477
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 11,189 10,000
Obligations under finance lease and hire purchase contracts 12,331 1,023
Trade creditors - 436
Taxation and social security costs 45,715 58,812
Other creditors (54,009) (38,663)
15,226 31,608
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 19,193 30,000
Obligations under finance lease and hire purchase contracts 10,761 32,687
29,954 62,687
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Director loan account 41,401 46,117 (32,800) 54,718
41,401 46,117 (32,800) 54,718
8 Other information
DA Decorators Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Gillespie Close
Bedford
Bedfordshire
MK42 9JH
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