Registered number
01455042
Vale Decorators UK Limited
Filleted Accounts
31 December 2024
Vale Decorators UK Limited
Registered number: 01455042
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 256,995 146,943
Current assets
Stocks 5,000 5,000
Debtors 4 222,668 405,101
Cash at bank and in hand 1,274,121 1,185,715
1,501,789 1,595,816
Creditors: amounts falling due within one year 5 (140,902) (167,647)
Net current assets 1,360,887 1,428,169
Total assets less current liabilities 1,617,882 1,575,112
Provisions for liabilities (26,777) (21,776)
Net assets 1,591,105 1,553,336
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,591,005 1,553,236
Shareholders' funds 1,591,105 1,553,336
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R Sang
Director
Approved by the board on 4 March 2025
Vale Decorators UK Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Plant and machinery 10%/25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 35 37
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 35,726 289,800 325,526
Additions 3,226 199,559 202,785
Disposals (3,300) (66,531) (69,831)
At 31 December 2024 35,652 422,828 458,480
Depreciation
At 1 January 2024 22,223 156,360 178,583
Charge for the year 1,400 75,299 76,699
On disposals (1,468) (52,329) (53,797)
At 31 December 2024 22,155 179,330 201,485
Net book value
At 31 December 2024 13,497 243,498 256,995
At 31 December 2023 13,503 133,440 146,943
4 Debtors 2024 2023
£ £
Trade debtors 207,591 328,463
Other debtors 15,077 76,638
222,668 405,101
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 10,904 10,151
Taxation and social security costs 112,635 137,157
Other creditors 17,363 20,339
140,902 167,647
6 Other information
Vale Decorators UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
Vale House
Edwards Lane
Speke
Liverpool
L24 9HW
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