DM Smalley (Painting Contractors) Ltd 04812784 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is that of a painting contractor. Digita Accounts Production Advanced 6.30.9574.0 true true 04812784 2023-09-01 2024-08-31 04812784 2024-08-31 04812784 core:RetainedEarningsAccumulatedLosses 2024-08-31 04812784 core:ShareCapital 2024-08-31 04812784 core:FinanceLeases core:Non-currentFinancialInstruments 2024-08-31 04812784 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-08-31 04812784 core:CurrentFinancialInstruments 2024-08-31 04812784 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 04812784 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 04812784 core:MotorVehicles 2024-08-31 04812784 core:OtherPropertyPlantEquipment 2024-08-31 04812784 bus:SmallEntities 2023-09-01 2024-08-31 04812784 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 04812784 bus:FilletedAccounts 2023-09-01 2024-08-31 04812784 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 04812784 bus:RegisteredOffice 2023-09-01 2024-08-31 04812784 bus:Director1 2023-09-01 2024-08-31 04812784 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04812784 core:MotorVehicles 2023-09-01 2024-08-31 04812784 core:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 04812784 core:PlantMachinery 2023-09-01 2024-08-31 04812784 countries:EnglandWales 2023-09-01 2024-08-31 04812784 2023-08-31 04812784 core:MotorVehicles 2023-08-31 04812784 core:OtherPropertyPlantEquipment 2023-08-31 04812784 2022-09-01 2023-08-31 04812784 2023-08-31 04812784 core:RetainedEarningsAccumulatedLosses 2023-08-31 04812784 core:ShareCapital 2023-08-31 04812784 core:FinanceLeases core:Non-currentFinancialInstruments 2023-08-31 04812784 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-08-31 04812784 core:CurrentFinancialInstruments 2023-08-31 04812784 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 04812784 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 04812784 core:MotorVehicles 2023-08-31 04812784 core:OtherPropertyPlantEquipment 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 04812784

DM Smalley (Painting Contractors) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

DM Smalley (Painting Contractors) Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

DM Smalley (Painting Contractors) Ltd

(Registration number: 04812784)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

14,977

19,910

Current assets

 

Debtors

5

26,057

45,079

Cash at bank and in hand

 

31,969

36,512

 

58,026

81,591

Creditors: Amounts falling due within one year

6

(20,077)

(27,257)

Net current assets

 

37,949

54,334

Total assets less current liabilities

 

52,926

74,244

Creditors: Amounts falling due after more than one year

6

(925)

(4,623)

Provisions for liabilities

(1,497)

(4,449)

Net assets

 

50,504

65,172

Capital and reserves

 

Called up share capital

2

2

Retained earnings

50,502

65,170

Shareholders' funds

 

50,504

65,172

 

DM Smalley (Painting Contractors) Ltd

(Registration number: 04812784)
Balance Sheet as at 31 August 2024

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 March 2025
 

.........................................
D M Smalley
Director

 

DM Smalley (Painting Contractors) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
6 Vale Mill Court
Edenfield
Ramsbottom
BURY
BL0 0GY
England

These financial statements were authorised for issue by the director on 6 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared in sterling (£) using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

DM Smalley (Painting Contractors) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

DM Smalley (Painting Contractors) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

DM Smalley (Painting Contractors) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

42,290

4,266

46,556

At 31 August 2024

42,290

4,266

46,556

Depreciation

At 1 September 2023

23,281

3,365

26,646

Charge for the year

4,753

180

4,933

At 31 August 2024

28,034

3,545

31,579

Carrying amount

At 31 August 2024

14,256

721

14,977

At 31 August 2023

19,009

901

19,910

5

Debtors

Current

2024
£

2023
£

Trade debtors

26,057

37,607

Other debtors

-

7,472

 

26,057

45,079

 

DM Smalley (Painting Contractors) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

3,699

3,699

Trade creditors

 

1,095

641

Taxation and social security

 

1,981

5,531

Accruals and deferred income

 

1,500

1,600

Other creditors

 

11,802

15,786

 

20,077

27,257


Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £3,699 (2023 - £3,699).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

925

4,623


Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £925 (2023 - £4,623).

7

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Finance lease liabilities

925

4,623

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

3,699

3,699

Hire purchase contracts are secured on the assets to which they relate.