Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true2falseManufacturuer of veneer sheets and wood based panelsfalse2023-02-16falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14669098 2023-02-15 14669098 2023-02-16 2024-03-31 14669098 2022-02-16 2023-02-15 14669098 2024-03-31 14669098 c:Director1 2023-02-16 2024-03-31 14669098 d:PlantMachinery 2023-02-16 2024-03-31 14669098 d:PlantMachinery 2024-03-31 14669098 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-16 2024-03-31 14669098 d:CurrentFinancialInstruments 2024-03-31 14669098 d:Non-currentFinancialInstruments 2024-03-31 14669098 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 14669098 d:ShareCapital 2024-03-31 14669098 d:RetainedEarningsAccumulatedLosses 2024-03-31 14669098 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 14669098 c:OrdinaryShareClass1 2023-02-16 2024-03-31 14669098 c:OrdinaryShareClass1 2024-03-31 14669098 c:FRS102 2023-02-16 2024-03-31 14669098 c:AuditExempt-NoAccountantsReport 2023-02-16 2024-03-31 14669098 c:FullAccounts 2023-02-16 2024-03-31 14669098 c:PrivateLimitedCompanyLtd 2023-02-16 2024-03-31 14669098 e:PoundSterling 2023-02-16 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14669098










DÉCOR FABRICATIONS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024

 
DÉCOR FABRICATIONS LIMITED
REGISTERED NUMBER: 14669098

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
Note
£

Fixed assets
  

Tangible assets
 4 
201,418

  
201,418

Current assets
  

Debtors: amounts falling due within one year
 5 
87,036

Debtors: amounts falling due after more than one year
 5 
175,000

Cash at bank and in hand
 6 
13,783

  
275,819

Creditors: amounts falling due within one year
 7 
(447,060)

Net current liabilities
  
 
 
(171,241)

Total assets less current liabilities
  
30,177

Provisions for liabilities
  

Deferred tax
 8 
(50,355)

  
 
 
(50,355)

Net liabilities
  
(20,178)


Capital and reserves
  

Called up share capital 
 9 
100

Profit and loss account
  
(20,278)

  
(20,178)


Page 1

 
DÉCOR FABRICATIONS LIMITED
REGISTERED NUMBER: 14669098
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M Reed
Director

Date: 13 November 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
DÉCOR FABRICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Paycocke Road Limited is a private company, limited by shares, incorporated in England and Wales. The address of its registered office is 6th Floor, 2 London Wall Place, London, EC2Y 5AU.
The principal activity of the company was being a manufacturer if veneer sheets and wood-based panels.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling, the functional currency, rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has net current liabilities of £171,241 and Net liabilities of £20,178. The financial statements have been prepared on a going concern basis as the parent company, Wilkins and Reed Holdings Limited, has confirmed its willingness and ability to support the company for at least 12 months from the date of approval of the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
DÉCOR FABRICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
DÉCOR FABRICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Plant and machinery
-
7
years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Page 5

 
DÉCOR FABRICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the period was 2.

Page 6

 
DÉCOR FABRICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


Additions
234,988



At 31 March 2024

234,988



Depreciation


Charge for the period
33,570



At 31 March 2024

33,570



Net book value



At 31 March 2024
201,418


5.


Debtors

2024
£

Due after more than one year

Amounts owed by group undertakings
175,000

175,000


2024
£

Due within one year

Trade debtors
813

Prepayments and accrued income
86,223

87,036


Page 7

 
DÉCOR FABRICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

6.


Cash and cash equivalents

2024
£

Cash at bank and in hand
13,783

13,783



7.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
172,324

Amounts owed to group undertakings
273,988

Other taxation and social security
748

447,060



8.


Deferred taxation



2024


£






Charged to profit or loss
(50,355)



At end of year
(50,355)

The deferred taxation balance is made up as follows:

2024
£


Accelerated capital allowances
(50,355)

(50,355)

Page 8

 
DÉCOR FABRICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

9.


Share capital

2024
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


On incorporation, 100 Ordinary shares of £1.00 each were issued, allotted and fully paid at par.


10.


Related party transactions

The company has taken advantage of the exemption available of Financial Reporting Standard 102 Section 33 whereby it has not disclosed transactions with any wholly owned subsidiaries of Wilkins and Reed Holdings Limited. 


11.


Parent entity and controlling party

Wilkins and Reed Holdings Limited is a parent company incorporated in England and Wales, which is controlled by  M Reed and A M Wilkins who are the ultimate controlling party. 

 
Page 9