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Company Registration No. 11959809 (England and Wales)
R SMITH DECORATING LIMITED Unaudited accounts for the year ended 30 April 2024
R SMITH DECORATING LIMITED Unaudited accounts Contents
Page
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R SMITH DECORATING LIMITED Company Information for the year ended 30 April 2024
Director
Ryan Smith
Company Number
11959809 (England and Wales)
Registered Office
112-113 HIGH STREET LINCOLN LN5 7PY ENGLAND
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA Templar Accounting & Business Support Services Limited (Incorp: Blake and Co ) 112 - 113 High Street, Lincoln, Lincolnshire LN5 7PY
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R SMITH DECORATING LIMITED Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
25,081 
31,512 
Current assets
Debtors
20,993 
22,060 
Cash at bank and in hand
6,400 
16,479 
27,393 
38,539 
Creditors: amounts falling due within one year
(21,221)
(22,961)
Net current assets
6,172 
15,578 
Total assets less current liabilities
31,253 
47,090 
Creditors: amounts falling due after more than one year
(24,838)
(32,307)
Provisions for liabilities
Deferred tax
(6,397)
(6,397)
Net assets
18 
8,386 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(82)
8,286 
Shareholders' funds
18 
8,386 
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 January 2024 and were signed on its behalf by
Ryan Smith Director Company Registration No. 11959809
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R SMITH DECORATING LIMITED Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
R SMITH DECORATING LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11959809. The registered office is 112-113 HIGH STREET, LINCOLN, LN5 7PY, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Motor vehicles
20% Reducing balance
Fixtures & fittings
15% Reducing balance
Computer equipment
25% Reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Hire Purchase/Finance Lease & Operating Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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R SMITH DECORATING LIMITED Notes to the Accounts for the year ended 30 April 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 May 2023
5,845 
37,120 
400 
1,090 
44,455 
At 30 April 2024
5,845 
37,120 
400 
1,090 
44,455 
Depreciation
At 1 May 2023
3,398 
8,610 
190 
745 
12,943 
Charge for the year
611 
5,702 
31 
87 
6,431 
At 30 April 2024
4,009 
14,312 
221 
832 
19,374 
Net book value
At 30 April 2024
1,836 
22,808 
179 
258 
25,081 
At 30 April 2023
2,447 
28,510 
210 
345 
31,512 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
17,920 
22,400 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
568 
5,507 
Trade debtors
200 
3,315 
Other debtors
9,548 
13,238 
10,316 
22,060 
Amounts falling due after more than one year
Other debtors
10,677 
- 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
2,000 
2,000 
Obligations under finance leases and hire purchase contracts
4,866 
4,866 
Trade creditors
908 
600 
Taxes and social security
3,299 
2,090 
Loans from directors
- 
237 
Accruals
600 
600 
Deferred income
9,548 
12,568 
21,221 
22,961 
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R SMITH DECORATING LIMITED Notes to the Accounts for the year ended 30 April 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
3,145 
4,965 
Obligations under finance leases and hire purchase contracts
19,603 
22,960 
Taxes and social security
2,090 
4,382 
24,838 
32,307 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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