ACCOUNTS - Final Accounts

Hire purchase and finance leases

Minimum lease payments under hire purchase fall due as follows:

Company registration number: 08948341

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	M J GILLESPIE DECORATORS LIMITED


M J GILLESPIE DECORATORS LIMITED

COMPANY INFORMATION

Director	M J Gillespie


Registered number	08948341


Registered office	190 Whyteleafe Road
	Caterham
	Surrey
	CR3 5ED


Accountants	Menzies LLP
	Chartered Accountants
	Magna House
	18-32 London Road
	Staines-Upon-Thames
	TW18 4BP


M J GILLESPIE DECORATORS LIMITED

CONTENTS

	Page
Statement of financial position	1 - 2
Notes to the financial statements	3 - 6


M J GILLESPIE DECORATORS LIMITED REGISTERED NUMBER:08948341

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		16,371		21,874
			16,371		21,874
Current assets
Debtors: amounts falling due within one year	5	110,584		120,471
Cash at bank and in hand		173,022		122,413
		283,606		242,884
Creditors: amounts falling due within one year	6	(53,540)		(36,051)
Net current assets			230,066		206,833
Total assets less current liabilities			246,437		228,707
Creditors: amounts falling due after more than one year	7		(8,912)		(13,812)

Net assets			237,525		214,895

Capital and reserves
Called up share capital	100	100
Profit and loss account	237,425	214,795
	237,525	214,895

Page 1


M J GILLESPIE DECORATORS LIMITED REGISTERED NUMBER:08948341

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

M J Gillespie

Director

Date: 28 August 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2


M J GILLESPIE DECORATORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

M J Gillespie Decorators Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office and principal place of business is given the in the company information page of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on a going concern basis, no critical judgements or accounting estimates have been used by management is assessing the appropriateness of going concern.

2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Page 3


M J GILLESPIE DECORATORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes 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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

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

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

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

4.	Tangible fixed assets

	Motor vehicles	Computer equipment	Total
	£	£	£
Cost or valuation
At 1 April 2024	38,920	1,230	40,150
At 31 March 2025	38,920	1,230	40,150
Depreciation
At 1 April 2024	17,483	793	18,276
Charge for the year on owned assets	5,359	144	5,503
At 31 March 2025	22,842	937	23,779
Net book value
At 31 March 2025	16,078	293	16,371
At 31 March 2024	21,437	437	21,874

Page 4


M J GILLESPIE DECORATORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Trade debtors	16,733	-
Other debtors	93,851	120,471
	110,584	120,471

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	8,734	6,136
Corporation tax	32,734	5,004
Obligations under finance lease and hire purchase contracts	4,900	4,900
Other creditors	2,372	951
Accruals and deferred income	4,800	19,060
	53,540	36,051

7.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Net obligations under finance leases and hire purchase contracts	8,912	13,812
	8,912	13,812

Within one year	4,900	4,900
Between 1-5 years	8,912	13,812
	13,812	18,712

Page 5


M J GILLESPIE DECORATORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

9.	Related party transactions
	During the year, the below transactions subsided between the director and company. This amount is considered repayable on demand and is accruing interest of 2.25%.

		2025	2024
		£	£

Balance at beginning of the year	96,761	123,084
Amounts advanced	46,555	54,677
Amounts repaid	(81,000)	(81,000)
	62,316	96,761

Page 6