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REGISTERED NUMBER: 10067686 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Duchy Decorators Limited

Duchy Decorators Limited (Registered number: 10067686)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Duchy Decorators Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr L J Tucker





REGISTERED OFFICE: 4 White Cross
Cury
Helston
Cornwall
TR12 7BG





REGISTERED NUMBER: 10067686 (England and Wales)





ACCOUNTANTS: Mitchell Chartered Accountants
Marlborough
Hillcrest
Helston
Cornwall
TR13 8UN

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Duchy Decorators Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Duchy Decorators Limited for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Duchy Decorators Limited in accordance with the terms of our engagement letter dated 24 March 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Duchy Decorators Limited and state those matters that we have agreed to state to the director of Duchy Decorators Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Duchy Decorators Limited and its director for our work or for this report.

It is your duty to ensure that Duchy Decorators Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Duchy Decorators Limited. You consider that Duchy Decorators Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Duchy Decorators Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Mitchell Chartered Accountants
Marlborough
Hillcrest
Helston
Cornwall
TR13 8UN


1 November 2024

Duchy Decorators Limited (Registered number: 10067686)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 4,140 6,210
Tangible assets 6 12,150 19,877
16,290 26,087

CURRENT ASSETS
Stocks 450 225
Debtors 7 12,409 23,501
Cash at bank 863 -
13,722 23,726
CREDITORS
Amounts falling due within one year 8 12,660 22,240
NET CURRENT ASSETS 1,062 1,486
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,352

27,573

CREDITORS
Amounts falling due after more than one
year

9

(15,563

)

(21,613

)

PROVISIONS FOR LIABILITIES (1,654 ) (2,976 )
NET ASSETS 135 2,984

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 35 2,884
SHAREHOLDERS' FUNDS 135 2,984

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 director acknowledges his 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.

Duchy Decorators Limited (Registered number: 10067686)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 November 2024 and were signed by:





Mr L J Tucker - Director


Duchy Decorators Limited (Registered number: 10067686)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Duchy Decorators 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Duchy Decorators Limited (Registered number: 10067686)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 20,700
AMORTISATION
At 1 April 2023 14,490
Charge for year 2,070
At 31 March 2024 16,560
NET BOOK VALUE
At 31 March 2024 4,140
At 31 March 2023 6,210

Duchy Decorators Limited (Registered number: 10067686)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 7,178 4,892 26,440 1,313 39,823
Disposals - (4,892 ) - - (4,892 )
At 31 March 2024 7,178 - 26,440 1,313 34,931
DEPRECIATION
At 1 April 2023 3,872 1,073 13,856 1,145 19,946
Charge for year 719 - 3,146 43 3,908
Eliminated on disposal - (1,073 ) - - (1,073 )
At 31 March 2024 4,591 - 17,002 1,188 22,781
NET BOOK VALUE
At 31 March 2024 2,587 - 9,438 125 12,150
At 31 March 2023 3,306 3,819 12,584 168 19,877

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 20,888
DEPRECIATION
At 1 April 2023 9,139
Charge for year 2,937
At 31 March 2024 12,076
NET BOOK VALUE
At 31 March 2024 8,812
At 31 March 2023 11,749

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,330 6,907
Amounts recoverable on contract - 1,000
Directors' current accounts 10,165 14,039
VAT 186 602
Prepayments 728 953
12,409 23,501

Duchy Decorators Limited (Registered number: 10067686)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 3,023 8,068
Hire purchase contracts 4,298 4,298
Trade creditors 993 2,218
Tax 2,448 6,233
Social security and other taxes 1,176 623
Other creditors 12 -
Accrued expenses 710 800
12,660 22,240

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 3,023 3,085
Bank loans - 2-5 years 10,402 12,900
Hire purchase contracts 2,138 5,628
15,563 21,613

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 6,436 9,926

The hire purchase liability is secured on the vehicle the finance was taken out to purchase.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary 1 100 100

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31.3.24 31.3.23
£    £   
Mr L J Tucker
Balance outstanding at start of year 14,039 3,029
Amounts advanced 15,920 43,503
Amounts repaid (19,794 ) (32,493 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,165 14,039

Duchy Decorators Limited (Registered number: 10067686)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

The director's loan account relates to items paid for privately on behalf of the company, cash introduced, the directors dividend less repayments made to the director. Interest is charged on the loan at 2.25% (2023: 2%). The loan is repayable on demand. No amounts have been written off or waived in the year.

13. RELATED PARTY DISCLOSURES

During the year, total dividends of £5,700 (2023 - £12,000) were paid to the director .

14. ULTIMATE CONTROLLING PARTY

The controlling party is Mr L J Tucker.