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Registered number: 06300161
The Christmas Decorators (Franchising) Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Jon Davies Accountants Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06300161
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 17,707 29,123
17,707 29,123
CURRENT ASSETS
Stocks 5 475,596 902,211
Debtors 6 1,293,953 1,132,269
Cash at bank and in hand 868,421 412,533
2,637,970 2,447,013
Creditors: Amounts Falling Due Within One Year 7 (1,107,906 ) (1,097,302 )
NET CURRENT ASSETS (LIABILITIES) 1,530,064 1,349,711
TOTAL ASSETS LESS CURRENT LIABILITIES 1,547,771 1,378,834
Creditors: Amounts Falling Due After More Than One Year 8 (291,235 ) (132,812 )
NET ASSETS 1,256,536 1,246,022
CAPITAL AND RESERVES
Called up share capital 9 4 4
Profit and Loss Account 1,256,532 1,246,018
SHAREHOLDERS' FUNDS 1,256,536 1,246,022
Page 1
Page 2
For the year ending 29 February 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Mr Nicholas Bolton
Director
31 May 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
The Christmas Decorators (Franchising) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06300161 . The registered office is Units A1 - A3 Speke Business Park, Sprint Way, Liverpool, L24 9AB.
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Motor Vehicles 20% straight line
Fixtures & Fittings 33% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. 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 year 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2023: 18)
16 18
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 March 2023 20,435 156,189 176,624
Additions - 1,429 1,429
As at 29 February 2024 20,435 157,618 178,053
Depreciation
As at 1 March 2023 18,051 129,450 147,501
Provided during the period 2,384 10,461 12,845
As at 29 February 2024 20,435 139,911 160,346
Net Book Value
As at 29 February 2024 - 17,707 17,707
As at 1 March 2023 2,384 26,739 29,123
5. Stocks
2024 2023
£ £
Finished goods 475,596 790,423
Work in progress - 111,788
475,596 902,211
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 750,234 717,513
Prepayments and accrued income 101,921 13,000
Other debtors - 415
Amounts due to related parties 329 -
Amounts owed by other participating interests 441,469 401,341
1,293,953 1,132,269
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 227,658 240,647
Bank loans and overdrafts 421,332 737,148
Corporation tax 17,315 54,427
Other taxes and social security 10,876 8,590
VAT 353,708 56,230
Other creditors 46,865 219
Accruals and deferred income 26,010 -
Amounts owed to related parties 4,142 41
1,107,906 1,097,302
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 291,235 132,812
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
10. Related Party Transactions
Within Debtors at the balance sheet date there was an amount of £329 due from XDEX Ltd, a company owned by the shareholders of The Christmas Decorators (Franchising) Ltd (2023: £NIL). 
Within Creditors at the balance sheet date there was an amount of £4,142 (2023:£41) due to American Christmas Ltd, a company owned by the shareholders of The Christmas Decorators (Franchising) Ltd. 
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