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REGISTERED NUMBER: 11814571 (England and Wales)















CARPAINTUK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






CARPAINTUK LIMITED (REGISTERED NUMBER: 11814571)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CARPAINTUK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr P J O'Reilly
Mrs L Barnard
Mr P Barnard





REGISTERED OFFICE: 15 High Street
Brackley
Northamptonshire
NN13 7DH





REGISTERED NUMBER: 11814571 (England and Wales)





ACCOUNTANTS: Blencowes
15 High Street
Brackley
Northamptonshire
NN13 7DH

CARPAINTUK LIMITED (REGISTERED NUMBER: 11814571)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 16,202 17,762
Tangible assets 5 141,918 143,381
Investments 6 - 46,500
158,120 207,643

CURRENT ASSETS
Stocks 50,335 35,002
Debtors 7 122,412 61,308
Cash at bank and in hand 24,203 15,668
196,950 111,978
CREDITORS
Amounts falling due within one year 8 149,537 107,142
NET CURRENT ASSETS 47,413 4,836
TOTAL ASSETS LESS CURRENT
LIABILITIES

205,533

212,479

CREDITORS
Amounts falling due after more than one
year

9

(148,100

)

(98,062

)

PROVISIONS FOR LIABILITIES (26,552 ) (26,465 )
NET ASSETS 30,881 87,952

CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 43,909 43,909
Retained earnings (13,128 ) 43,943
SHAREHOLDERS' FUNDS 30,881 87,952

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

CARPAINTUK LIMITED (REGISTERED NUMBER: 11814571)

BALANCE SHEET - continued
31 MARCH 2024


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 22 October 2024 and were signed on its behalf by:





Mr P Barnard - Director


CARPAINTUK LIMITED (REGISTERED NUMBER: 11814571)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

CarPaintUK Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on sale of goods (eg. dispatch of the goods).

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost of buildings
Plant and machinery - 20% on cost
Fixtures and fittings - 50% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.


CARPAINTUK LIMITED (REGISTERED NUMBER: 11814571)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred taxation
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other
administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 23,998
AMORTISATION
At 1 April 2023 6,236
Charge for year 1,560
At 31 March 2024 7,796
NET BOOK VALUE
At 31 March 2024 16,202
At 31 March 2023 17,762

CARPAINTUK LIMITED (REGISTERED NUMBER: 11814571)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 April 2023 148,000 6,547 6,232
Additions - 400 8,590
Disposals - - -
At 31 March 2024 148,000 6,947 14,822
DEPRECIATION
At 1 April 2023 8,000 4,719 6,232
Charge for year 5,920 1,390 1,968
Eliminated on disposal - - -
At 31 March 2024 13,920 6,109 8,200
NET BOOK VALUE
At 31 March 2024 134,080 838 6,622
At 31 March 2023 140,000 1,828 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 4,600 1,951 167,330
Additions - 282 9,272
Disposals - (187 ) (187 )
At 31 March 2024 4,600 2,046 176,415
DEPRECIATION
At 1 April 2023 3,680 1,318 23,949
Charge for year 920 537 10,735
Eliminated on disposal - (187 ) (187 )
At 31 March 2024 4,600 1,668 34,497
NET BOOK VALUE
At 31 March 2024 - 378 141,918
At 31 March 2023 920 633 143,381

CARPAINTUK LIMITED (REGISTERED NUMBER: 11814571)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Valuation in 2020 35,909 - -
Valuation in 2023 8,000 - -
Cost 104,091 6,947 14,822
148,000 6,947 14,822

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2020 - - 35,909
Valuation in 2023 - - 8,000
Cost 4,600 2,046 132,506
4,600 2,046 176,415

The property was revalued by the directors at 31 March 2023 and they consider £140,000 to be the market value as at the balance sheet date.

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023 46,500
Disposals (46,500 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 46,500

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 17,651 13,940
Other debtors 102,175 44,106
Prepayments and accrued income 2,586 -
122,412 58,046

CARPAINTUK LIMITED (REGISTERED NUMBER: 11814571)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Directors' loan accounts - 3,262

Aggregate amounts 122,412 61,308

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 133,837 85,115
Tax - 1,520
Social security and other taxes 1,552 1,703
VAT 1,669 8,054
Other creditors 317 300
Accrued expenses 2,162 450
149,537 107,142

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 11,667 21,667
Other loans 135,375 75,375
Directors' loan accounts 1,058 1,020
148,100 98,062

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 A Ordinary £1 50 50
50 B Ordinary £1 50 50
100 100

CARPAINTUK LIMITED (REGISTERED NUMBER: 11814571)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr P Barnard and Mrs L Barnard
Balance outstanding at start of year 3,262 (61,454 )
Amounts advanced - 75,000
Amounts repaid (3,262 ) (10,284 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 3,262

For the year ended 31 March 2023 the overdrawn Director's Loan Account was repaid in full within nine months of the year end.

12. ULTIMATE CONTROLLING PARTY

The controlling party is considered to be Mr P Barnard by virtue of his majority shareholding in the company.