2023-04-012024-03-312024-03-31false05200614PAINTSHOP NORTHERN LIMITED2024-06-06iso4217:GBPxbrli:pure052006142023-04-01052006142024-03-31052006142023-04-012024-03-31052006142022-04-01052006142023-03-31052006142022-04-012023-03-3105200614bus:SmallEntities2023-04-012024-03-3105200614bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3105200614bus:FullAccounts2023-04-012024-03-3105200614bus:PrivateLimitedCompanyLtd2023-04-012024-03-3105200614core:WithinOneYear2024-03-3105200614core:AfterOneYear2024-03-3105200614core:WithinOneYear2023-03-3105200614core:AfterOneYear2023-03-3105200614core:ShareCapital2024-03-3105200614core:SharePremium2024-03-3105200614core:RevaluationReserve2024-03-3105200614core:OtherReservesSubtotal2024-03-3105200614core:RetainedEarningsAccumulatedLosses2024-03-3105200614core:ShareCapital2023-03-3105200614core:SharePremium2023-03-3105200614core:RevaluationReserve2023-03-3105200614core:OtherReservesSubtotal2023-03-3105200614core:RetainedEarningsAccumulatedLosses2023-03-3105200614core:LandBuildings2024-03-3105200614core:PlantMachinery2024-03-3105200614core:Vehicles2024-03-3105200614core:FurnitureFittings2024-03-3105200614core:OfficeEquipment2024-03-3105200614core:NetGoodwill2024-03-3105200614core:IntangibleAssetsOtherThanGoodwill2024-03-3105200614core:ListedExchangeTraded2024-03-3105200614core:UnlistedNon-exchangeTraded2024-03-3105200614core:LandBuildings2023-03-3105200614core:PlantMachinery2023-03-3105200614core:Vehicles2023-03-3105200614core:FurnitureFittings2023-03-3105200614core:OfficeEquipment2023-03-3105200614core:NetGoodwill2023-03-3105200614core:IntangibleAssetsOtherThanGoodwill2023-03-3105200614core:ListedExchangeTraded2023-03-3105200614core:UnlistedNon-exchangeTraded2023-03-3105200614core:LandBuildings2023-04-012024-03-3105200614core:PlantMachinery2023-04-012024-03-3105200614core:Vehicles2023-04-012024-03-3105200614core:FurnitureFittings2023-04-012024-03-3105200614core:OfficeEquipment2023-04-012024-03-3105200614core:NetGoodwill2023-04-012024-03-3105200614core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3105200614core:ListedExchangeTraded2023-04-012024-03-3105200614core:UnlistedNon-exchangeTraded2023-04-012024-03-3105200614core:MoreThanFiveYears2023-04-012024-03-3105200614core:Non-currentFinancialInstruments2024-03-3105200614core:Non-currentFinancialInstruments2023-03-3105200614dpl:CostSales2023-04-012024-03-3105200614dpl:DistributionCosts2023-04-012024-03-3105200614core:LandBuildings2023-04-012024-03-3105200614core:PlantMachinery2023-04-012024-03-3105200614core:Vehicles2023-04-012024-03-3105200614core:FurnitureFittings2023-04-012024-03-3105200614core:OfficeEquipment2023-04-012024-03-3105200614dpl:AdministrativeExpenses2023-04-012024-03-3105200614core:NetGoodwill2023-04-012024-03-3105200614core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3105200614dpl:GroupUndertakings2023-04-012024-03-3105200614dpl:ParticipatingInterests2023-04-012024-03-3105200614dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3105200614core:ListedExchangeTraded2023-04-012024-03-3105200614dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3105200614core:UnlistedNon-exchangeTraded2023-04-012024-03-3105200614dpl:CostSales2022-04-012023-03-3105200614dpl:DistributionCosts2022-04-012023-03-3105200614core:LandBuildings2022-04-012023-03-3105200614core:PlantMachinery2022-04-012023-03-3105200614core:Vehicles2022-04-012023-03-3105200614core:FurnitureFittings2022-04-012023-03-3105200614core:OfficeEquipment2022-04-012023-03-3105200614dpl:AdministrativeExpenses2022-04-012023-03-3105200614core:NetGoodwill2022-04-012023-03-3105200614core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3105200614dpl:GroupUndertakings2022-04-012023-03-3105200614dpl:ParticipatingInterests2022-04-012023-03-3105200614dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3105200614core:ListedExchangeTraded2022-04-012023-03-3105200614dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3105200614core:UnlistedNon-exchangeTraded2022-04-012023-03-3105200614core:NetGoodwill2024-03-3105200614core:IntangibleAssetsOtherThanGoodwill2024-03-3105200614core:LandBuildings2024-03-3105200614core:PlantMachinery2024-03-3105200614core:Vehicles2024-03-3105200614core:FurnitureFittings2024-03-3105200614core:OfficeEquipment2024-03-3105200614core:AfterOneYear2024-03-3105200614core:WithinOneYear2024-03-3105200614core:ListedExchangeTraded2024-03-3105200614core:UnlistedNon-exchangeTraded2024-03-3105200614core:ShareCapital2024-03-3105200614core:SharePremium2024-03-3105200614core:RevaluationReserve2024-03-3105200614core:OtherReservesSubtotal2024-03-3105200614core:RetainedEarningsAccumulatedLosses2024-03-3105200614core:NetGoodwill2023-03-3105200614core:IntangibleAssetsOtherThanGoodwill2023-03-3105200614core:LandBuildings2023-03-3105200614core:PlantMachinery2023-03-3105200614core:Vehicles2023-03-3105200614core:FurnitureFittings2023-03-3105200614core:OfficeEquipment2023-03-3105200614core:AfterOneYear2023-03-3105200614core:WithinOneYear2023-03-3105200614core:ListedExchangeTraded2023-03-3105200614core:UnlistedNon-exchangeTraded2023-03-3105200614core:ShareCapital2023-03-3105200614core:SharePremium2023-03-3105200614core:RevaluationReserve2023-03-3105200614core:OtherReservesSubtotal2023-03-3105200614core:RetainedEarningsAccumulatedLosses2023-03-3105200614core:NetGoodwill2022-04-0105200614core:IntangibleAssetsOtherThanGoodwill2022-04-0105200614core:LandBuildings2022-04-0105200614core:PlantMachinery2022-04-0105200614core:Vehicles2022-04-0105200614core:FurnitureFittings2022-04-0105200614core:OfficeEquipment2022-04-0105200614core:AfterOneYear2022-04-0105200614core:WithinOneYear2022-04-0105200614core:ListedExchangeTraded2022-04-0105200614core:UnlistedNon-exchangeTraded2022-04-0105200614core:ShareCapital2022-04-0105200614core:SharePremium2022-04-0105200614core:RevaluationReserve2022-04-0105200614core:OtherReservesSubtotal2022-04-0105200614core:RetainedEarningsAccumulatedLosses2022-04-0105200614core:AfterOneYear2023-04-012024-03-3105200614core:WithinOneYear2023-04-012024-03-3105200614core:Non-currentFinancialInstrumentscore:CostValuation2023-04-012024-03-3105200614core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-04-012024-03-3105200614core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-04-012024-03-3105200614core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-04-012024-03-3105200614core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-04-012024-03-3105200614core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-04-012024-03-3105200614core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-04-012024-03-3105200614core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-04-012024-03-3105200614core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-04-012024-03-3105200614core:Non-currentFinancialInstrumentscore:CostValuation2024-03-3105200614core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2024-03-3105200614core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2024-03-3105200614core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2024-03-3105200614core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2024-03-3105200614core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2024-03-3105200614core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2024-03-3105200614core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2024-03-3105200614core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2024-03-3105200614core:Non-currentFinancialInstrumentscore:CostValuation2023-03-3105200614core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-03-3105200614core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-03-3105200614core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-03-3105200614core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-03-3105200614core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-03-3105200614core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-03-3105200614core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-03-3105200614core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-03-3105200614bus:Director12023-04-012024-03-3105200614bus:Director22023-04-012024-03-3105200614core:FurnitureFittingsToolsEquipment2023-03-3105200614core:FurnitureFittingsToolsEquipment2023-04-012024-03-3105200614core:FurnitureFittingsToolsEquipment2024-03-31

PAINTSHOP NORTHERN LIMITED

Registered Number
05200614
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

PAINTSHOP NORTHERN LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

HUDSON, Craig Darren
HUDSON, Paul

Company Secretary

HUDSON, Craig Darren

Registered Address

Unit 5a Commondale Way
Euroway Trading Estate
Bradford
BD4 6SF

Registered Number

05200614 (England and Wales)
PAINTSHOP NORTHERN LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets36,4399,658
Tangible assets4182,251169,518
188,690179,176
Current assets
Stocks530,00030,000
Debtors6292,510338,477
Cash at bank and on hand4,130591
326,640369,068
Creditors amounts falling due within one year7(355,604)(359,912)
Net current assets (liabilities)(28,964)9,156
Total assets less current liabilities159,726188,332
Creditors amounts falling due after one year8(88,787)(120,697)
Provisions for liabilities10(44,000)(37,000)
Net assets26,93930,635
Capital and reserves
Called up share capital100100
Profit and loss account26,83930,535
Shareholders' funds26,93930,635
The financial statements were approved and authorised for issue by the Board of Directors on 6 June 2024, and are signed on its behalf by:
HUDSON, Craig Darren
Director
Registered Company No. 05200614
PAINTSHOP NORTHERN LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. The company continues to have the support of the directors, shareholders and creditors and therefore continue to adopt the going concern basis of accounting in preparing the financial statements
Turnover policy
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/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
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 obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery15
Fixtures and fittings15
Vehicles25
Finance leases and hire purchase contracts
Operating leases: the Company as lessee Rentals paid under operating leases are charged to profit or loss on a straight line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset. Leased assets: the Company as lessee Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Financial instruments
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year2020
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2332,19332,193
At 31 March 2432,19332,193
Amortisation and impairment
At 01 April 2322,53522,535
Charge for year3,2193,219
At 31 March 2425,75425,754
Net book value
At 31 March 246,4396,439
At 31 March 239,6589,658
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 April 23488,61252,32733,612574,551
Additions13,28935,845-49,134
Disposals-(17,710)-(17,710)
At 31 March 24501,90170,46233,612605,975
Depreciation and impairment
At 01 April 23334,65942,04428,330405,033
Charge for year24,2419,59479234,627
On disposals-(15,936)-(15,936)
At 31 March 24358,90035,70229,122423,724
Net book value
At 31 March 24143,00134,7604,490182,251
At 31 March 23153,95310,2835,282169,518
5.Stocks
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.

2024

2023

££
Work in progress20,00020,000
Finished goods10,00010,000
Total30,00030,000
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables290,410313,770
Other debtors2,10024,707
Total292,510338,477
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables190,096116,558
Bank borrowings and overdrafts10,00010,000
Taxation and social security75,015127,955
Finance lease and HP contracts5,760-
Other creditors55,18585,848
Accrued liabilities and deferred income19,54819,551
Total355,604359,912
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. The following liabilities disclosed under the creditors falling due within one year are secured by the company: Hire purchase and finance lease agreements of £5,760 (2023 - £Nil).
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts12,50022,500
Other creditors76,28798,197
Total88,787120,697
The following liabilities disclosed under the creditors falling due after one year are secured by the company: Hire purchase and finance lease agreements of £12,489 (2023 - £Nil).
9.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts12,489-
10.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)44,00037,000
Total44,00037,000
11.Related party transactions
Included within creditors, due within one year, is an amount due to C D Hudson of £38 (2023 -£1,454). The balance is interest free and repayable on demand. Included within creditors, due within one year, is an amount due to P Hudson of £521 (2023 -£545). The balance is interest free and repayable on demand.