Company Registration No. 02909501 (England and Wales)
Re-Dec Decorators Limited
Financial Statements
for the year ended 31 May 2024
Re-Dec Decorators Limited
Company Information
Directors
Mr S Blake
Mrs S Blake
Secretary
Mrs S Blake
Company number
02909501
Registered office
30 Greenacres Grove
Shelf
Halifax
West Yorkshire
HX3 7RN
Accountants
B M Howarth Ltd
West House
King Cross Road
Halifax
West Yorkshire
HX1 1EB
Re-Dec Decorators Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Re-Dec Decorators Limited
Statement of financial position
as at 31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
128,454
129,076
Current assets
Debtors
570
558
Cash at bank and in hand
50,487
66,618
51,057
67,176
Creditors: amounts falling due within one year
(1,237)
(1,091)
Net current assets
49,820
66,085
Total assets less current liabilities
178,274
195,161
Provisions for liabilities
6
(506)
Net assets
178,274
194,655
Capital and reserves
Called up share capital
1,000
1,000
Revaluation reserve
7
17,399
17,399
Profit and loss reserves
159,875
176,256
Total equity
178,274
194,655
Re-Dec Decorators Limited
Statement of financial position (continued)
as at 31 May 2024
- 2 -
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 12 September 2024 and are signed on its behalf by:
Mr S Blake
Director
Company registration number 02909501 (England and Wales)
Re-Dec Decorators Limited
Notes to the financial statements
for the year ended 31 May 2024
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents amounts receivable for property rentals.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
Nil
Plant and machinery
15% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Re-Dec Decorators Limited
Notes to the financial statements (continued)
for the year ended 31 May 2024
1
Accounting policies
(continued)
- 4 -
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2023 - 2).
2024
2023
Number
Number
Total
2
2
4
Dividends
2024
2023
£
£
Final paid
10,000
20,000
Re-Dec Decorators Limited
Notes to the financial statements (continued)
for the year ended 31 May 2024
- 5 -
5
Tangible fixed assets
Total
£
Cost
At 1 June 2023 and 31 May 2024
208,830
Depreciation and impairment
At 1 June 2023
79,754
Depreciation charged in the year
622
At 31 May 2024
80,376
Carrying amount
At 31 May 2024
128,454
At 31 May 2023
129,076
6
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
506
7
Revaluation reserve
2024
2023
£
£
At the beginning and end of the year
17,399
17,399
8
Company information
Re-Dec Decorators Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30 Greenacres Grove, Shelf, Halifax, West Yorkshire, HX3 7RN.