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Registered number: 10052291
Floyd Sims Professional Painters & Decorators Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 10052291
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 513 684
513 684
CURRENT ASSETS
Cash at bank and in hand 20,941 15,949
20,941 15,949
Creditors: Amounts Falling Due Within One Year 5 (5,254 ) (5,505 )
NET CURRENT ASSETS (LIABILITIES) 15,687 10,444
TOTAL ASSETS LESS CURRENT LIABILITIES 16,200 11,128
NET ASSETS 16,200 11,128
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 16,100 11,028
SHAREHOLDERS' FUNDS 16,200 11,128
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
F M Sims
Director
15th November 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Floyd Sims Professional Painters & Decorators Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10052291 . The registered office is Unit 8 Wheatcroft Business Park, Landmere Lane, Edwalton, Nottingham, Nottinghamshire, NG12 4DG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 rendering of services.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 777
As at 31 March 2024 777
Depreciation
As at 1 April 2023 93
Provided during the period 171
As at 31 March 2024 264
Net Book Value
As at 31 March 2024 513
As at 1 April 2023 684
Page 2
Page 3
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Taxation and social security 2,560 2,866
Other creditors 2,694 2,639
5,254 5,505
6. Ultimate Controlling Party
The company's ultimate controlling party is F M Sims.
Page 3