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Registration number: 06524510

S & R Decor Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2024

 

S & R Decor Limited

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 8

 

S & R Decor Limited

Company Information

Directors

 

R J Wheeldon

S P Wheeldon

Company secretary

Mrs L Wheeldon

Registered office



 

15 Borough Road
Dunstable
LU5 4BZ

Accountants

SDT Accounting & Taxation Services Ltd
Chartered Certified Accountant
26 Beechwood Avenue
Chatham
Kent
ME5 7HH

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
S & R Decor Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of S & R Decor Limited for the year ended 31 March 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of S & R Decor Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of S & R Decor Limited and state those matters that we have agreed to state to the Board of Directors of S & R Decor Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than S & R Decor Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that S & R Decor Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of S & R Decor Limited. You consider that S & R Decor 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 accounts of S & R Decor 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 accounts.






SDT Accounting & Taxation Services Ltd
Chartered Certified Accountant
26 Beechwood Avenue
Chatham
Kent
ME5 7HH

2 May 2024

 

S & R Decor Limited

(Registration number: 06524510)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

6,250

-

Current assets

 

Debtors

20,722

16,857

Cash at bank and in hand

 

6,249

3,668

 

26,971

20,525

Creditors: Amounts falling due within one year

(19,005)

(18,222)

Net current assets

 

7,966

2,303

Total assets less current liabilities

 

14,216

2,303

Creditors: Amounts falling due after more than one year

(10,000)

-

Accruals and deferred income

 

(1,225)

(2,250)

Net assets

 

2,991

53

Capital and reserves

 

Called up share capital

3

3

Retained earnings

2,988

50

Shareholders' funds

 

2,991

53

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

S & R Decor Limited

(Registration number: 06524510)
Abridged Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 2 May 2024 and signed on its behalf by:
 

R J Wheeldon
Director

S P Wheeldon
Director

 

S & R Decor Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
15 Borough Road
Dunstable
LU5 4BZ

These financial statements were authorised for issue by the Board on 2 May 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

S & R Decor Limited

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

S & R Decor Limited

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

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

2,083

-

 

S & R Decor Limited

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

5

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

Additions

8,333

8,333

At 31 March 2024

8,333

8,333

Depreciation

Charge for the year

2,083

2,083

At 31 March 2024

2,083

2,083

Carrying amount

At 31 March 2024

6,250

6,250

6

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

23,780

18,131


Included in other creditors, there are director loan balances of £4,111 (2023: £4,111) due to the directors.