Classic Decorators (Holdings) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04563245

Classic Decorators (Holdings) Limited

Filleted Unaudited Financial Statements

For the year ended

31 December 2024

Classic Decorators (Holdings) Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Accountant's report to the director on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Classic Decorators (Holdings) Limited

Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements

Year ended 31 December 2024

As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 December 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

CLAY SHAW THOMAS LTD

2 Oldfield Road Bocam Park Bridgend CF35 5LJ

29 September 2025

Classic Decorators (Holdings) Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5	2,276,931	2,150,605
Investments	6	179	179
		------------	------------
		2,277,110	2,150,784

Current assets

Debtors	7	29,537	5,883
Cash at bank and in hand		496,855	221,085
		---------	---------
		526,392	226,968

Creditors: amounts falling due within one year	8	967,379		684,691
		---------		---------
Net current liabilities			440,987	457,723
			------------	------------
Total assets less current liabilities			1,836,123	1,693,061

Creditors: amounts falling due after more than one year	9		550,605	511,835

Provisions

Taxation including deferred tax	128,934	68,886
	------------	------------
Net assets	1,156,584	1,112,340
	------------	------------

Classic Decorators (Holdings) Limited

Statement of Financial Position (continued)

31 December 2024

	2024		2023
Note	£	£	£

Capital and reserves

Called up share capital	100	100
Non-distributable reserve	167,668	181,082
Profit and loss account	988,816	931,158
	------------	------------
Shareholders funds	1,156,584	1,112,340
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

Mr M Cummings
Director

Company registration number: 04563245

Classic Decorators (Holdings) Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 3 & 4 Atlantic Trading Estate, Atlantic Point, Barry, Vale of Glamorgan, CF63 3AA, Wales.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced during the year and relates to the principal activity of the company which is that of a holding company. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Machinery	-	12.5% straight line
Fixtures & Fittings	-	12.5% straight line
Motor Vehicles	-	25% straight line

Investment property

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 January 2024	1,975,000	339	5,271	514,983	2,495,593
Additions	–	–	1,474	214,030	215,504
Disposals	–	–	–	( 94,174)	( 94,174)
	------------	----	-------	---------	------------
At 31 December 2024	1,975,000	339	6,745	634,839	2,616,923
	------------	----	-------	---------	------------
Depreciation
At 1 January 2024	–	339	5,271	339,378	344,988
Charge for the year	–	–	122	89,056	89,178
Disposals	–	–	–	( 94,174)	( 94,174)
	------------	----	-------	---------	------------
At 31 December 2024	–	339	5,393	334,260	339,992
	------------	----	-------	---------	------------
Carrying amount
At 31 December 2024	1,975,000	–	1,352	300,579	2,276,931
	------------	----	-------	---------	------------
At 31 December 2023	1,975,000	–	–	175,605	2,150,605
	------------	----	-------	---------	------------

Land and properties includes an investment property with a value of £1,375,000 (2022: £1,265,548)

Tangible assets held at valuation

The original cost of the land and buildings was £1,751,442 (2022:£1,658,382).

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 31 December 2024	–
	----
At 31 December 2023	164,537
	---------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	179
	----
Impairment
At 1 January 2024 and 31 December 2024	–
	----

Carrying amount
At 31 December 2024	179
	----
At 31 December 2023	179
	----

At the year end the company owns 90% of the issued share capital in Classic Decorators (UK) Limited and 89% of the issued share capital in Classic Contract Finishes Limited.

7. Debtors

	2024	2023
	£	£
Trade debtors	9,399	5,883
Other debtors	20,138	–
	--------	-------
	29,537	5,883
	--------	-------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	18,900	18,900
Amounts owed to group undertakings and undertakings in which the company has a participating interest	799,201	450,200
Social security and other taxes	30,391	68,188
Other creditors	118,887	147,403
	---------	---------
	967,379	684,691
	---------	---------

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

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	389,247	407,074
Other creditors	161,358	104,761
	---------	---------
	550,605	511,835
	---------	---------

Included within creditors: amounts falling due after more than one year is an amount of £313,647 (2023: £331,474) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

10. Related party transactions

The company has taken exemption, under the small company regime, from disclosing related party transactions which are considered immaterial, or conducted under normal market conditions.