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REGISTERED NUMBER: 05676888 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

GARY WILKES DECORATING LIMITED

GARY WILKES DECORATING LIMITED (REGISTERED NUMBER: 05676888)

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


GARY WILKES DECORATING LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2024







DIRECTORS: Mr G Wilkes
Mrs S Wilkes





REGISTERED OFFICE: 17 Roy Close
Narborough
Leicestershire
LE19 2DN





REGISTERED NUMBER: 05676888 (England and Wales)





ACCOUNTANTS: TC Group
31 High View Close
Hamilton Office Park
Leicester
Leicestershire
LE4 9LJ

GARY WILKES DECORATING LIMITED (REGISTERED NUMBER: 05676888)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 224,079 224,079
Tangible assets 5 12,275 12,939
236,354 237,018

CURRENT ASSETS
Debtors 6 1,608 7,080
Cash at bank - 31,429
1,608 38,509
CREDITORS
Amounts falling due within one year 7 28,403 49,008
NET CURRENT LIABILITIES (26,795 ) (10,499 )
TOTAL ASSETS LESS CURRENT LIABILITIES 209,559 226,519

CREDITORS
Amounts falling due after more than
one year

8

9,522

12,528
NET ASSETS 200,037 213,991

CAPITAL AND RESERVES
Called up share capital 200,000 200,000
Retained earnings 37 13,991
200,037 213,991

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 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.

GARY WILKES DECORATING LIMITED (REGISTERED NUMBER: 05676888)

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 Board of Directors and authorised for issue on 8 January 2025 and were signed on its behalf by:





Mr G Wilkes - Director


GARY WILKES DECORATING LIMITED (REGISTERED NUMBER: 05676888)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2024


1. STATUTORY INFORMATION

Gary Wilkes Decorating 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.

Goodwill
Goodwill has been included at cost on the balance sheet. The balance has not been ammortised as, in the opinion of the director, the carrying value at the year end is a materially true and fair reflection of the actual value of the asset.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

GARY WILKES DECORATING LIMITED (REGISTERED NUMBER: 05676888)

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.

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 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 224,079
NET BOOK VALUE
At 31 March 2024 224,079
At 31 March 2023 224,079

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 28,450 15,249 307 44,006
Additions - 10,208 - 10,208
Disposals - (11,249 ) - (11,249 )
At 31 March 2024 28,450 14,208 307 42,965
DEPRECIATION
At 1 April 2023 26,654 4,312 101 31,067
Charge for year 270 4,224 51 4,545
Eliminated on disposal - (4,922 ) - (4,922 )
At 31 March 2024 26,924 3,614 152 30,690
NET BOOK VALUE
At 31 March 2024 1,526 10,594 155 12,275
At 31 March 2023 1,796 10,937 206 12,939

GARY WILKES DECORATING LIMITED (REGISTERED NUMBER: 05676888)

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:
Motor
vehicles
£   
COST
At 1 April 2023 11,249
Additions 10,208
Disposals (11,249 )
At 31 March 2024 10,208
DEPRECIATION
At 1 April 2023 2,812
Charge for year 3,599
Eliminated on disposal (4,922 )
At 31 March 2024 1,489
NET BOOK VALUE
At 31 March 2024 8,719
At 31 March 2023 8,437

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,608 7,080

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,579 2,000
Hire purchase contracts 2,680 3,200
Trade creditors 10,774 27,785
Taxation and social security 4,008 13,003
Other creditors 3,362 3,020
28,403 49,008

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 3,333 5,333
Hire purchase contracts 6,189 7,195
9,522 12,528

GARY WILKES DECORATING LIMITED (REGISTERED NUMBER: 05676888)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 8,869 10,395

The hire purchase liabilities are secured over the assets to which they relate

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Mr G Wilkes
Balance outstanding at start of year 7,081 (481 )
Amounts advanced 58,800 61,857
Amounts repaid (66,223 ) (54,295 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (342 ) 7,081

11. RELATED PARTY DISCLOSURES

The company paid rent of £4,800 during the year to one of the directors (2023: £4,800)