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REGISTERED NUMBER: 04674810 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Painted Red Limited

Painted Red Limited (Registered number: 04674810)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 6

Painted Red Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr G F Alexander





SECRETARY: Mr P Chappell





REGISTERED OFFICE: Buckenham Lodge
Chapel Court
Fakenham
Norfolk
NR21 9EA





REGISTERED NUMBER: 04674810 (England and Wales)





ACCOUNTANTS: D Hubbard Accountancy Limited
3 Clover House
Boston Road
Sleaford
Lincolnshire
NG34 7HD

Painted Red Limited (Registered number: 04674810)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,810 13,315

CURRENT ASSETS
Debtors 5 725,644 637,267
Cash at bank 320,733 252,927
1,046,377 890,194
CREDITORS
Amounts falling due within one year 6 184,768 141,172
NET CURRENT ASSETS 861,609 749,022
TOTAL ASSETS LESS CURRENT
LIABILITIES

875,419

762,337

CAPITAL AND RESERVES
Called up share capital 7 100 101
Retained earnings 875,319 762,236
SHAREHOLDERS' FUNDS 875,419 762,337

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.

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 director and authorised for issue on 25 November 2024 and were signed by:





Mr G F Alexander - Director


Painted Red Limited (Registered number: 04674810)

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

1. STATUTORY INFORMATION

Painted Red 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.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

Painted Red Limited (Registered number: 04674810)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023 34,484
Additions 5,098
At 31 March 2024 39,582
DEPRECIATION
At 1 April 2023 21,169
Charge for year 4,603
At 31 March 2024 25,772
NET BOOK VALUE
At 31 March 2024 13,810
At 31 March 2023 13,315

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 131,823 128,586
PAYE debtor - 246
Pension debtor 4 518
Other debtors 130,400 506,105
Loan - Ayling Heritage Limited 422,076 -
Directors' current accounts 37,104 1,592
Prepayments 4,237 220
725,644 637,267

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other loans - 59,911
Trade creditors 2,266 -
Tax 64,313 47,765
Social security and other taxes 4,793 -
VAT 32,320 32,095
Other creditors 77,576 -
Accrued expenses 3,500 1,401
184,768 141,172

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
101 Ordinary 1 100 101

Painted Red Limited (Registered number: 04674810)

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

8. 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 G F Alexander
Balance outstanding at start of year 1,592 -
Amounts advanced 37,104 1,592
Amounts repaid (1,592 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 37,104 1,592

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £41,726 were paid to the director .

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr G F Alexander.

Painted Red Limited

Report of the Accountants to the Director of
Painted Red 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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on pages two to five and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






D Hubbard Accountancy Limited
3 Clover House
Boston Road
Sleaford
Lincolnshire
NG34 7HD


25 November 2024