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REGISTERED NUMBER: SC442124 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

M J K DECORATORS & PAINTERS LIMITED

M J K DECORATORS & PAINTERS LIMITED (REGISTERED NUMBER: SC442124)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M J K DECORATORS & PAINTERS LIMITED

COMPANY INFORMATION
For The Year Ended 30 June 2024







DIRECTOR: Michael John Kennedy





REGISTERED OFFICE: R A Clement Associates
5 Argyll Square
OBAN
PA34 4AZ





REGISTERED NUMBER: SC442124 (Scotland)





ACCOUNTANTS: R A Clement Associates
5 Argyll Square
OBAN
Argyll
PA34 4AZ

M J K DECORATORS & PAINTERS LIMITED (REGISTERED NUMBER: SC442124)

BALANCE SHEET
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 56,562 27,607

CURRENT ASSETS
Stocks 2,800 250
Debtors 5 1,553 20,066
Cash at bank 41,698 40,275
46,051 60,591
CREDITORS
Amounts falling due within one year 6 15,234 22,833
NET CURRENT ASSETS 30,817 37,758
TOTAL ASSETS LESS CURRENT
LIABILITIES

87,379

65,365

PROVISIONS FOR LIABILITIES 5,407 6,902
NET ASSETS 81,972 58,463

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 81,872 58,363
SHAREHOLDERS' FUNDS 81,972 58,463

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

M J K DECORATORS & PAINTERS LIMITED (REGISTERED NUMBER: SC442124)

BALANCE SHEET - continued
30 June 2024


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 3 December 2024 and were signed by:





Michael John Kennedy - Director


M J K DECORATORS & PAINTERS LIMITED (REGISTERED NUMBER: SC442124)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2024

1. STATUTORY INFORMATION

M J K Decorators & Painters Limited is a private company, limited by shares , registered in Scotland. 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 - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 4 (2023 - 5 ) .

M J K DECORATORS & PAINTERS LIMITED (REGISTERED NUMBER: SC442124)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Long Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 - 9,779 60,499 879 71,157
Additions 34,932 - - - 34,932
At 30 June 2024 34,932 9,779 60,499 879 106,089
DEPRECIATION
At 1 July 2023 - 3,483 39,435 632 43,550
Charge for year - 630 5,266 81 5,977
At 30 June 2024 - 4,113 44,701 713 49,527
NET BOOK VALUE
At 30 June 2024 34,932 5,666 15,798 166 56,562
At 30 June 2023 - 6,296 21,064 247 27,607

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,553 20,066

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 2,879
Trade creditors 1,603 1,693
Taxation and social security 7,401 15,678
Other creditors 6,230 2,583
15,234 22,833