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Registered number: 12595651

Paint2K Limited

ACCOUNTS
FOR THE YEAR ENDED 31/05/2024

Prepared By:
IUVO Services Limited
Chartered Accountants
10 The Crescent
Little Leighs
Chelmsford
Essex
CM3 1LY

Paint2K Limited

ACCOUNTS
FOR THE YEAR ENDED 31/05/2024
DIRECTORS
M Corns
SECRETARY
M Corns
REGISTERED OFFICE
11 Falmouth Road
Chelmsford
Essex
CM1 6HY
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 12595651
ACCOUNTANTS
IUVO Services Limited
Chartered Accountants
10 The Crescent
Little Leighs
Chelmsford
Essex
CM3 1LY

Paint2K Limited

ACCOUNTS
FOR THEYEARENDED31/05/2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Paint2K Limited

BALANCE SHEET AT 31/05/2024
20242023
Notes££
FIXED ASSETS
Tangible assets34,5003,063
CURRENT ASSETS
Stock1,2502,750
Debtors5-1,966
Cash at bank and in hand5,8801,909
7,1306,625
CREDITORS: Amounts falling due within one year69,3309,178
NET CURRENT LIABILITIES(2,200)(2,553)
TOTAL ASSETS LESS CURRENT LIABILITIES2,300510
PROVISIONS FOR LIABILITIES AND CHARGES7800500
NET ASSETS1,50010
CAPITAL AND RESERVES
Called up share capital81010
Profit and loss account1,490-
SHAREHOLDERS' FUNDS1,50010
For the year ending 31/05/2024 the company was entitled to exemption 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 directors acknowledge their 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 13/02/2025 and signed on their behalf by
.............................
M Corns
Director

Paint2K Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/05/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Commercial Vehiclesreducing balance 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
2. EMPLOYEES
20242023
No.No.
Average number of employees11

Paint2K Limited

3. TANGIBLE FIXED ASSETS
Commercial
VehiclesTotal
££
Cost
At 01/06/20236,1256,125
Additions6,0006,000
Disposals(6,125)(6,125)
At 31/05/20246,0006,000
Depreciation
At 01/06/20233,0623,062
Disposals(3,062)(3,062)
For the year1,5001,500
At 31/05/20241,5001,500
Net Book Amounts
At 31/05/20244,5004,500
At 31/05/20233,0633,063
4. STOCK 20242023
££
Stock comprises:
Stock1,250-
Work in progress-2,750
1,2502,750
5. DEBTORS 20242023
££
Amounts falling due within one year
Directors current account-1,966
-1,966
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax8,0796,850
Directors current account1-
Trade creditors-1,128
Accruals1,2501,200
9,3309,178

Paint2K Limited

7. PROVISIONS FOR LIABILITIES 20242023
££
Deferred taxation800500
800500
8. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
10 Ordinary shares of £1 each1010
1010
9. RELATED PARTY TRANSACTIONS
At the year end the Company owed its director £nil (2023L the Company was owed £1,966 by its director).