Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302023-07-01falsepainters and decorators11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04464187 2023-07-01 2024-06-30 04464187 2022-07-01 2023-06-30 04464187 2024-06-30 04464187 2023-06-30 04464187 c:Director1 2023-07-01 2024-06-30 04464187 d:MotorVehicles 2023-07-01 2024-06-30 04464187 d:MotorVehicles 2024-06-30 04464187 d:MotorVehicles 2023-06-30 04464187 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04464187 d:FurnitureFittings 2023-07-01 2024-06-30 04464187 d:FurnitureFittings 2024-06-30 04464187 d:FurnitureFittings 2023-06-30 04464187 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04464187 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 04464187 d:Goodwill 2024-06-30 04464187 d:Goodwill 2023-06-30 04464187 d:CurrentFinancialInstruments 2024-06-30 04464187 d:CurrentFinancialInstruments 2023-06-30 04464187 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 04464187 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 04464187 d:ShareCapital 2024-06-30 04464187 d:ShareCapital 2023-06-30 04464187 d:RetainedEarningsAccumulatedLosses 2024-06-30 04464187 d:RetainedEarningsAccumulatedLosses 2023-06-30 04464187 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-06-30 04464187 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-06-30 04464187 c:FRS102 2023-07-01 2024-06-30 04464187 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 04464187 c:FullAccounts 2023-07-01 2024-06-30 04464187 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04464187 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 04464187









MARK WATERS PAINTER & DECORATORS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
MARK WATERS PAINTER & DECORATORS LIMITED
REGISTERED NUMBER: 04464187

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,775
334

  
2,775
334

Current assets
  

Stocks
 6 
10,500
945

Debtors: amounts falling due within one year
 7 
800
580

Cash at bank and in hand
 8 
549
2,395

  
11,849
3,920

Creditors: amounts falling due within one year
 9 
(15,496)
(4,155)

Net current liabilities
  
 
 
(3,647)
 
 
(235)

Total assets less current liabilities
  
(872)
99

  

Net (liabilities)/assets
  
(872)
99


Capital and reserves
  

Called up share capital 
  
99
99

Profit and loss account
  
(971)
-

  
(872)
99


Page 1

 
MARK WATERS PAINTER & DECORATORS LIMITED
REGISTERED NUMBER: 04464187
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 January 2025.





................................................
Mark Waters
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
MARK WATERS PAINTER & DECORATORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The company is a private company limited by shares, incorporated in England. The principal activity throughout the year was that of painters and decorators.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts are produced on a going concern basis. This assumes the ongoing support of the director, which he has pledged for the foreseeable future.

 
2.3

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
MARK WATERS PAINTER & DECORATORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance
Fixtures, fittings and equipment
-
33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
MARK WATERS PAINTER & DECORATORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
MARK WATERS PAINTER & DECORATORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 6

 
MARK WATERS PAINTER & DECORATORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 July 2023
15,000



At 30 June 2024

15,000



Amortisation


At 1 July 2023
15,000



At 30 June 2024

15,000



Net book value



At 30 June 2024
-



At 30 June 2023
-



Page 7

 
MARK WATERS PAINTER & DECORATORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Motor vehicles
Fixtures, fittings and equipment
Total

£
£
£



Cost or valuation


At 1 July 2023
7,577
1,014
8,591


Additions
3,700
-
3,700


Disposals
(7,577)
(1,014)
(8,591)



At 30 June 2024

3,700
-
3,700



Depreciation


At 1 July 2023
7,257
1,000
8,257


Charge for the year on owned assets
925
-
925


Disposals
(7,257)
(1,000)
(8,257)



At 30 June 2024

925
-
925



Net book value



At 30 June 2024
2,775
-
2,775



At 30 June 2023
320
14
334


6.


Stock and work in progress

2024
2023
£
£

Work in progress
10,500
945

10,500
945


Page 8

 
MARK WATERS PAINTER & DECORATORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Debtors

2024
2023
£
£


Trade debtors
-
350

Other debtors
800
-

Prepayments and accrued income
-
230

800
580



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
549
2,395

549
2,395



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
542
440

Corporation tax
-
846

Other taxation and social security
660
880

Other creditors
13,148
843

Accruals and deferred income
1,146
1,146

15,496
4,155



10.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
549
2,395




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

Page 9

 
MARK WATERS PAINTER & DECORATORS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Controlling party

The company is controlled by the director, Mark Waters, by virtue of his shareholding as described in the director's report.

 
Page 10