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REGISTERED NUMBER: 07934201 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

My Paintbrush Limited

My Paintbrush Limited (Registered number: 07934201)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


My Paintbrush Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: A J Cherry





REGISTERED OFFICE: 19 Warren Park Way
The Warrens Business Park
Enderby
Leicester
LE19 4SA





REGISTERED NUMBER: 07934201 (England and Wales)





ACCOUNTANTS: Carter & Co
19 Warren Park Way
Enderby
Leicester
LE19 4SA

My Paintbrush Limited (Registered number: 07934201)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 32,545 7,089
32,546 7,090

CURRENT ASSETS
Stocks 405,000 360,000
Debtors 6 144,941 119,411
Cash at bank 95,000 51,434
644,941 530,845
CREDITORS
Amounts falling due within one year 7 385,888 333,098
NET CURRENT ASSETS 259,053 197,747
TOTAL ASSETS LESS CURRENT
LIABILITIES

291,599

204,837

CREDITORS
Amounts falling due after more than one
year

8

(119,770

)

(38,333

)

PROVISIONS FOR LIABILITIES (6,184 ) (1,347 )
NET ASSETS 165,645 165,157

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 165,545 165,057
SHAREHOLDERS' FUNDS 165,645 165,157

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.

My Paintbrush Limited (Registered number: 07934201)

Balance Sheet - continued
31 March 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 27 November 2024 and were signed by:





A J Cherry - Director


My Paintbrush Limited (Registered number: 07934201)

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

1. STATUTORY INFORMATION

My Paintbrush 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

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.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 25% on cost

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.

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.

My Paintbrush Limited (Registered number: 07934201)

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

2. ACCOUNTING POLICIES - continued

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 6,514
AMORTISATION
At 1 April 2023
and 31 March 2024 6,513
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 31,283
Additions 34,202
At 31 March 2024 65,485
DEPRECIATION
At 1 April 2023 24,194
Charge for year 8,746
At 31 March 2024 32,940
NET BOOK VALUE
At 31 March 2024 32,545
At 31 March 2023 7,089

My Paintbrush Limited (Registered number: 07934201)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 32,820
At 31 March 2024 32,820
DEPRECIATION
Charge for year 6,838
At 31 March 2024 6,838
NET BOOK VALUE
At 31 March 2024 25,982

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Paypal 12,155 1,071
Other debtors 95,445 81,761
VAT 37,208 36,579
Prepayments 133 -
144,941 119,411

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 5,491 -
Hire purchase contracts 5,864 -
Trade creditors 347,951 289,146
Tax 20,215 35,796
Social security and other taxes 2,112 2,035
Other creditors 1,876 4,420
Directors' current accounts 704 76
Accrued expenses 1,675 1,625
385,888 333,098

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 28,333 38,333
Bank loans - 2-5 years 72,379 -
Hire purchase contracts 19,058 -
119,770 38,333

My Paintbrush Limited (Registered number: 07934201)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1.00 100 100

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £80,000 (2023 - £73,000) were paid to the director .