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REGISTERED NUMBER: 03541416 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31st March 2024

for

John Day (Decorators) Limited

John Day (Decorators) Limited (Registered number: 03541416)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


John Day (Decorators) Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: J Day
M Day



SECRETARY: Mrs G Jepson



REGISTERED OFFICE: Prospect Court
Nottingham Road
Ripley
Derbyshire
DE5 3AY



REGISTERED NUMBER: 03541416 (England and Wales)



ACCOUNTANTS: Mabe Allen LLP
3 Derby Road
Ripley
Derbyshire
DE5 3EA



BANKERS: Natwest Bank Plc
Nottingham Road
Ripley
Derbyshire
DE5 3DG

John Day (Decorators) Limited (Registered number: 03541416)

Balance Sheet
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 97,330 76,350

CURRENT ASSETS
Stocks 5 162,000 67,000
Debtors 6 218,480 287,007
Cash at bank 245,122 246,015
625,602 600,022
CREDITORS
Amounts falling due within one year 7 269,571 221,299
NET CURRENT ASSETS 356,031 378,723
TOTAL ASSETS LESS CURRENT
LIABILITIES

453,361

455,073

CREDITORS
Amounts falling due after more than
one year

8

(25,368

)

(23,310

)

PROVISIONS FOR LIABILITIES 11 (21,508 ) (12,201 )
NET ASSETS 406,485 419,562

John Day (Decorators) Limited (Registered number: 03541416)

Balance Sheet - continued
31st March 2024

31.3.24 31.3.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 12 1,100 1,100
Retained earnings 13 405,385 418,462
SHAREHOLDERS' FUNDS 406,485 419,562

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 22nd November 2024 and were signed on its behalf by:





J Day - Director


John Day (Decorators) Limited (Registered number: 03541416)

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

1. STATUTORY INFORMATION

John Day (Decorators) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 5% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


John Day (Decorators) Limited (Registered number: 03541416)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 27 (2023 - 28 ) .

John Day (Decorators) Limited (Registered number: 03541416)

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

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1st April 2023 17,516 56,730 170,014 244,260
Additions - 881 57,257 58,138
Disposals - - (45,176 ) (45,176 )
At 31st March 2024 17,516 57,611 182,095 257,222
DEPRECIATION
At 1st April 2023 15,534 43,539 108,837 167,910
Charge for year 350 2,112 27,916 30,378
Eliminated on disposal - - (38,396 ) (38,396 )
At 31st March 2024 15,884 45,651 98,357 159,892
NET BOOK VALUE
At 31st March 2024 1,632 11,960 83,738 97,330
At 31st March 2023 1,982 13,191 61,177 76,350

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 25,257
At 31st March 2024 25,257
DEPRECIATION
Charge for year 6,314
At 31st March 2024 6,314
NET BOOK VALUE
At 31st March 2024 18,943

5. STOCKS
31.3.24 31.3.23
£    £   
Stock and work in progress 162,000 67,000

John Day (Decorators) Limited (Registered number: 03541416)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.3.24 31.3.23
£    £   
Trade debtors 199,718 263,999
Other debtors 12,510 11,003
Directors' loan accounts 638 972
VAT 320 -
Prepayments 5,294 11,033
218,480 287,007

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 9) 10,024 10,024
Hire purchase contracts 8,419 -
Trade creditors 19,857 51,358
Tax 44,900 33,900
Social security and other taxes 23,860 21,373
VAT - 4,260
Other creditors 87,827 49,318
Directors' loan accounts 7,583 7,582
Accrued expenses 67,101 43,484
269,571 221,299

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 9) 13,309 23,310
Hire purchase contracts 12,059 -
25,368 23,310

John Day (Decorators) Limited (Registered number: 03541416)

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

9. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,024 10,024

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,024 10,024

Amounts falling due between two and five years:
Bank loans - 2-5 years 3,285 13,286

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 23,333 33,334

The National Westminster Bank PLC holds a mortgage debenture dated 7th June 2006 covering a fixed and floating charge over all property and assets present and future.

11. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 21,508 12,201

Deferred
tax
£   
Balance at 1st April 2023 12,201
Charge to Income Statement during year 9,307
Balance at 31st March 2024 21,508

John Day (Decorators) Limited (Registered number: 03541416)

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

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
450 Ordinary A £1 450 450
180 Ordinary C £1 180 180
90 Ordinary D £1 90 90
270 Ordinary B £1 270 270
990 990

Allotted and issued:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
110 Ordinary E £1 110 110









13. RESERVES
Retained
earnings
£   

At 1st April 2023 418,462
Profit for the year 142,999
Dividends (156,076 )
At 31st March 2024 405,385

John Day (Decorators) Limited (Registered number: 03541416)

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

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2024 and 31st March 2023:

31.3.24 31.3.23
£    £   
J Day
Balance outstanding at start of year 972 739
Amounts advanced 665 80,333
Amounts repaid (1,000 ) (80,100 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 637 972

M Day
Balance outstanding at start of year (7,583 ) (16,821 )
Amounts advanced - 9,238
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (7,583 ) (7,583 )

Interest is charged to the directors using H M Revenue & Customs' official rate for employment related loans. The balance was cleared on 22nd August 2024 by dividends credited to the Loan Account.
.

15. ULTIMATE CONTROLLING PARTY

The controlling party is J Day.