M T Decorators (Scunthorpe) Limited 1380034 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is that of painters and decorators. Digita Accounts Production Advanced 6.30.9574.0 true 1380034 2023-08-01 2024-07-31 1380034 2024-07-31 1380034 bus:OrdinaryShareClass1 2024-07-31 1380034 bus:OrdinaryShareClass2 2024-07-31 1380034 bus:OrdinaryShareClass3 2024-07-31 1380034 bus:OrdinaryShareClass4 2024-07-31 1380034 core:RetainedEarningsAccumulatedLosses 2024-07-31 1380034 core:ShareCapital 2024-07-31 1380034 core:CurrentFinancialInstruments 2024-07-31 1380034 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 1380034 core:FurnitureFittingsToolsEquipment 2024-07-31 1380034 core:LandBuildings 2024-07-31 1380034 core:MotorVehicles 2024-07-31 1380034 bus:SmallEntities 2023-08-01 2024-07-31 1380034 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 1380034 bus:FullAccounts 2023-08-01 2024-07-31 1380034 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 1380034 bus:RegisteredOffice 2023-08-01 2024-07-31 1380034 bus:Director4 2023-08-01 2024-07-31 1380034 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 1380034 bus:OrdinaryShareClass2 2023-08-01 2024-07-31 1380034 bus:OrdinaryShareClass3 2023-08-01 2024-07-31 1380034 bus:OrdinaryShareClass4 2023-08-01 2024-07-31 1380034 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 1380034 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 1380034 core:LandBuildings 2023-08-01 2024-07-31 1380034 core:MotorVehicles 2023-08-01 2024-07-31 1380034 core:PlantMachinery 2023-08-01 2024-07-31 1380034 countries:England 2023-08-01 2024-07-31 1380034 2023-07-31 1380034 core:FurnitureFittingsToolsEquipment 2023-07-31 1380034 core:LandBuildings 2023-07-31 1380034 core:MotorVehicles 2023-07-31 1380034 2022-08-01 2023-07-31 1380034 2023-07-31 1380034 bus:OrdinaryShareClass1 2023-07-31 1380034 bus:OrdinaryShareClass2 2023-07-31 1380034 bus:OrdinaryShareClass3 2023-07-31 1380034 bus:OrdinaryShareClass4 2023-07-31 1380034 core:RetainedEarningsAccumulatedLosses 2023-07-31 1380034 core:ShareCapital 2023-07-31 1380034 core:CurrentFinancialInstruments 2023-07-31 1380034 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 1380034 core:FurnitureFittingsToolsEquipment 2023-07-31 1380034 core:LandBuildings 2023-07-31 1380034 core:MotorVehicles 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 1380034

M T Decorators (Scunthorpe) Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 July 2024

 

M T Decorators (Scunthorpe) Limited

(Registration number: 1380034)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

21,572

21,164

Current assets

 

Debtors

5

16,132

46,668

Cash at bank and in hand

 

53,158

68,745

 

69,290

115,413

Creditors: Amounts falling due within one year

6

(13,686)

(13,825)

Net current assets

 

55,604

101,588

Total assets less current liabilities

 

77,176

122,752

Provisions for liabilities

(4,098)

(4,021)

Net assets

 

73,078

118,731

Capital and reserves

 

Called up share capital

7

123

123

Retained earnings

72,955

118,608

Shareholders' funds

 

73,078

118,731

 

M T Decorators (Scunthorpe) Limited

(Registration number: 1380034)
Balance Sheet as at 31 July 2024

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 January 2025 and signed on its behalf by:
 


Mr M F Norris
Director

   
 

M T Decorators (Scunthorpe) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 3
48 Newdown Road
South Park Industrial Estate
North Lincolnshire
DN17 2TX

Company registration number: 01380034

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

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

The current 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 taxable income.

 

M T Decorators (Scunthorpe) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

10% per annum on written down value

Motor vehicles

25% per annum on written down value

Land and Buildings

10% per annum on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

M T Decorators (Scunthorpe) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 9 (2023 - 9).

 

M T Decorators (Scunthorpe) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

12,616

53,087

48,293

113,996

Additions

-

4,038

-

4,038

At 31 July 2024

12,616

57,125

48,293

118,034

Depreciation

At 1 August 2023

12,321

40,604

39,907

92,832

Charge for the year

160

1,375

2,095

3,630

At 31 July 2024

12,481

41,979

42,002

96,462

Carrying amount

At 31 July 2024

135

15,146

6,291

21,572

At 31 July 2023

295

12,483

8,386

21,164

5

Debtors

2024
£

2023
£

Trade debtors

12,618

39,767

Prepayments

2,250

1,983

Social security and other taxes

1,300

2,055

Other debtors

(36)

(45)

Corporation tax control

-

2,908

16,132

46,668

 

M T Decorators (Scunthorpe) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Creditors

2024
£

2023
£

Due within one year

Trade payables

5,610

7,090

Social security and other taxes

2,882

3,980

Other payables

4,982

2,280

Directors loan accounts

212

475

13,686

13,825

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

120

120

120

120

Ordinary A shares of £1 each

1

1

1

1

Ordinary B shares of £1 each

1

1

1

1

Ordinary C shares of £1 each

1

1

1

1

 

123

123

123

123