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REGISTERED NUMBER: 11909285 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

JC RAE DECORATING LTD

JC RAE DECORATING LTD (REGISTERED NUMBER: 11909285)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

JC RAE DECORATING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mrs S J Willett





REGISTERED OFFICE: 1st Floor
Chilworth Point
1 Chilworth Road
Southampton
Hampshire
SO16 7JQ





REGISTERED NUMBER: 11909285 (England and Wales)





ACCOUNTANTS: Rothmans LLP
Chartered Accountants
Chilworth Point
1 Chilworth Road
Southampton
SO16 7JQ

JC RAE DECORATING LTD (REGISTERED NUMBER: 11909285)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,162 24,032

CURRENT ASSETS
Stocks 51,607 62,252
Debtors 5 407,318 446,420
Cash at bank 161,372 91,092
620,297 599,764
CREDITORS
Amounts falling due within one year 6 229,908 295,724
NET CURRENT ASSETS 390,389 304,040
TOTAL ASSETS LESS CURRENT
LIABILITIES

408,551

328,072

CREDITORS
Amounts falling due after more than one
year

7

23,041

36,422
NET ASSETS 385,510 291,650

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 385,410 291,550
385,510 291,650

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 her 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.

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 6 January 2025 and were signed by:





Mrs S J Willett - Director


JC RAE DECORATING LTD (REGISTERED NUMBER: 11909285)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

JC RAE Decorating Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

REVENUE RECOGNITION
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the provision of services is recognised when all the following conditions are satisfied:

The amount of revenue can be measured reliably;

It is probable that the economic benefits associated with the transaction will flow to the company; and

The costs incurred or to be incurred in respect of the transition can be measured reliably.

Specifically, revenue from the provision of services is recognised when the stage of completion can be reliably measured using a percentage of completion method.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated
impairment losses. Historical cost included 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.

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

STOCKS
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

JC RAE DECORATING LTD (REGISTERED NUMBER: 11909285)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

The company makes contributions into a recognised UK defined contribution scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. Obligations for contributions to defined contribution pension schemes are recognised as an expense in the profit and loss account in the periods during which services are rendered by employees.

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash at bank and on hand and short-term deposits with an original maturity of three months or less that are readily convertible to known amounts of cash. The carrying amount represents fair value.

SHORT TERM DEBTORS AND CREDITORS
Debtors and creditors receivable and payable within one year or upon demand are recorded at transaction price whether or not a rate of interest is charged on the balance. Any losses arising from impairment are recognised in the income statement in other operating expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 8,476 7,054 14,520 6,261 36,311
Additions 435 1,306 - - 1,741
At 31 March 2024 8,911 8,360 14,520 6,261 38,052
DEPRECIATION
At 1 April 2023 3,551 2,817 2,904 3,007 12,279
Charge for year 1,783 1,672 2,904 1,252 7,611
At 31 March 2024 5,334 4,489 5,808 4,259 19,890
NET BOOK VALUE
At 31 March 2024 3,577 3,871 8,712 2,002 18,162
At 31 March 2023 4,925 4,237 11,616 3,254 24,032

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 54,453 35,648
Other debtors 121,704 121,704
CIS asset 6,613 14,998
Directors' current accounts 217,416 271,458
Prepayments 7,132 2,612
407,318 446,420

JC RAE DECORATING LTD (REGISTERED NUMBER: 11909285)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,198 9,996
Hire purchase contracts 3,183 2,888
Trade creditors 23,958 35,802
Tax 45,904 100,717
Social security and other taxes 30,751 2,323
VAT 29,656 103,935
Other creditors 1,033 1,146
Premium credit loan 81,926 35,706
Accrued expenses 3,299 3,211
229,908 295,724

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,403 10,198
Bank loans - 2-5 years 1,740 10,403
Bank loans more 5 yr by
installments - 1,740
Hire purchase contracts 10,898 14,081
23,041 36,422

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by
installments - 1,740
- 1,740

8. PENSION COMMITMENTS

The company operates a defined contribution scheme. At the reporting date there were contributions of £16.84 overspent 2023: £96.68).

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the start of the year the director owed the company £271,458 (2023: £112,987). During the year the director advanced £166,267 (2023: £208,270), and repaid £220,292 (2023: £49,797). At the end of the year the director owed the company £217,415 (2023: £271,458)

10. CAPITAL COMMITMENTS

At 31 March 2024, the company had no Capital Commitments contracted for but not provided for in these financial statements (2023: £nil).

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
JC RAE DECORATING LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JC RAE Decorating Ltd for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of JC RAE Decorating Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of JC RAE Decorating Ltd and state those matters that we have agreed to state to the director of JC RAE Decorating Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JC RAE Decorating Ltd and its director for our work or for this report.

It is your duty to ensure that JC RAE Decorating Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JC RAE Decorating Ltd. You consider that JC RAE Decorating Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of JC RAE Decorating Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Rothmans LLP
Chartered Accountants
Chilworth Point
1 Chilworth Road
Southampton
SO16 7JQ


Date: .............................................