Registration number: 04710145

Paint Direct (Services) Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Paint Direct (Services) Limited

Company Information

Director

Mr JR Haskell

Registered office

Mole End Shorts Green Lane Motcombe Dorset SP7 9PA

Accountants

Nicola Brookes Chartered AccountantMole End Shorts Green Lane Motcombe Dorset SP7 9PA

Paint Direct (Services) Limited

(Registration number: 04710145)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	229	305
Current assets
Stocks	6	39,227	25,000
Debtors	7	49,147	31,440
Cash at bank and in hand		1	203
		88,375	56,643
Creditors: Amounts falling due within one year	8	(77,568)	(38,917)
Net current assets		10,807	17,726
Total assets less current liabilities		11,036	18,031
Creditors: Amounts falling due after more than one year	8	(2,016)	(8,067)
Provisions for liabilities		(43)	(58)
Net assets		8,977	9,906
Capital and reserves
Called up share capital		1	1
Retained earnings		8,976	9,905
Shareholders' funds		8,977	9,906

For the financial year ending 31 March 2025 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 and 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 15 September 2025
 

Mr JR Haskell Director

Paint Direct (Services) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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:
Mole End
Shorts Green Lane
Motcombe
Dorset
SP7 9PA

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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

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.

Tax

The tax expense for the period comprises 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.

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.

Paint Direct (Services) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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
Motor vehicles	25% Reducing balance
Fixtures and fittings	33% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	Over ten years

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

Paint Direct (Services) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	26,891	26,891
At 31 March 2025	26,891	26,891
Amortisation
At 1 April 2024	26,891	26,891
At 31 March 2025	26,891	26,891
Carrying amount
At 31 March 2025	-	-

5	Tangible assets

	Fixtures and fittings £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	626	5,466	6,092
At 31 March 2025	626	5,466	6,092
Depreciation
At 1 April 2024	626	5,161	5,787
Charge for the year	-	76	76
At 31 March 2025	626	5,237	5,863
Carrying amount
At 31 March 2025	-	229	229
At 31 March 2024	-	305	305

6

Stocks

	2025 £	2024 £
Work in progress	39,227	25,000

Paint Direct (Services) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Debtors

Current	2025 £	2024 £
Trade debtors	47,060	16,592
Prepayments	614	368
Other debtors	1,473	14,480
	49,147	31,440

Paint Direct (Services) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	12,461	25,651
Trade creditors		1,180	4,636
Amounts owed to group undertakings and undertakings in which the company has a participating interest	10	30,000	-
Taxation and social security		8,524	7,212
Accruals and deferred income		1,086	1,276
Other creditors		24,317	142
		77,568	38,917

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	2,016	8,067

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	2,016	8,067

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	6,050	6,050
Bank overdrafts	6,411	19,601
	12,461	25,651

10	Related party disclosures

The company is controlled by JR Haskell.

During the year ended 31 March 2025, the company received a loan of £30,000 (2024 - £Nil) from Paint Direct Ltd. Paint Direct Ltd is controlled by the company director, JR Haskell.