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REGISTERED NUMBER: 05493193 (England and Wales)























Unaudited Financial Statements

for the Year Ended 30 September 2024

for

SML Painters & Decorators Limited

SML Painters & Decorators Limited (Registered number: 05493193)

Contents of the Financial Statements
for the Year Ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SML Painters & Decorators Limited

Company Information
for the Year Ended 30 September 2024







DIRECTOR: Mr S C Hands





SECRETARY: Miss H I Hands





REGISTERED OFFICE: Hornby Cottage
Rawcliffe Road
St Michaels On Wyre
Preston
Lancashire
PR3 0UD





REGISTERED NUMBER: 05493193 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
Chartered Accountants
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

SML Painters & Decorators Limited (Registered number: 05493193)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,734 25,446

CURRENT ASSETS
Stocks 12,500 12,500
Debtors 5 637,088 562,990
Cash at bank 816,856 659,557
1,466,444 1,235,047
CREDITORS
Amounts falling due within one year 6 204,975 194,931
NET CURRENT ASSETS 1,261,469 1,040,116
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,295,203

1,065,562

PROVISIONS FOR LIABILITIES 409 856
NET ASSETS 1,294,794 1,064,706

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,293,794 1,063,706
1,294,794 1,064,706

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SML Painters & Decorators Limited (Registered number: 05493193)

Balance Sheet - continued
30 September 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 March 2025 and were signed by:





Mr S C Hands - Director


SML Painters & Decorators Limited (Registered number: 05493193)

Notes to the Financial Statements
for the Year Ended 30 September 2024


1. STATUTORY INFORMATION

SML Painters & Decorators Limited 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 Statement of Income and Retained Earnings, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

SML Painters & Decorators Limited (Registered number: 05493193)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2023 4,039 57,353 2,414 63,806
Additions - 28,799 1,776 30,575
Disposals - (24,918 ) - (24,918 )
At 30 September 2024 4,039 61,234 4,190 69,463
DEPRECIATION
At 1 October 2023 2,620 33,335 2,405 38,360
Charge for year 284 10,470 595 11,349
Eliminated on disposal - (13,980 ) - (13,980 )
At 30 September 2024 2,904 29,825 3,000 35,729
NET BOOK VALUE
At 30 September 2024 1,135 31,409 1,190 33,734
At 30 September 2023 1,419 24,018 9 25,446

5. DEBTORS
30.9.24 30.9.23
£    £   
Amounts falling due within one year:
Trade debtors 377,627 301,116
Provision for bad debts (37,000 ) (40,000 )
Other debtors - 3,000
Construction Cost
Solutions Ltd 808 758
Directors' current accounts 206,172 206,172
VAT 11,746 15,193
Prepayments 8,019 7,035
567,372 493,274

Amounts falling due after more than one year:
Tax 69,716 69,716

Aggregate amounts 637,088 562,990

SML Painters & Decorators Limited (Registered number: 05493193)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 26,752 47,512
Tax 99,431 105,130
Social security and other taxes 23,133 14,189
Other creditors 2,482 1,256
Credit card 25,312 533
Holiday pay creditor 15,080 13,961
Accrued expenses 12,785 12,350
204,975 194,931

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
Mr S C Hands
Balance outstanding at start of year 206,172 75,293
Amounts advanced - 130,879
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 206,172 206,172

Interest on the loan has been charged at 2.25%.