REGISTERED NUMBER: 11909285 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

JC RAE DECORATING LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

8

DIRECTOR:

Mrs S J Willett

REGISTERED OFFICE:

1st Floor

Chilworth Point

1 Chilworth Road

Southampton

Hampshire

SO16 7JQ

REGISTERED NUMBER:

11909285 (England and Wales)

ACCOUNTANTS:

Rothmans LLP

Chartered Accountants

Chilworth Point

1 Chilworth Road

Southampton

Hampshire

SO16 7JQ

FIXED ASSETS

Intangible assets

4

165,000

-

Tangible assets

5

55,995

18,162

220,995

18,162

CURRENT ASSETS

Stocks

60,063

51,607

Debtors

6

477,310

407,318

Cash at bank

238,710

161,372

776,083

620,297

CREDITORS

Amounts falling due within one year

7

338,459

229,908

NET CURRENT ASSETS

437,624

390,389

TOTAL ASSETS LESS CURRENT LIABILITIES

658,619

408,551

CREDITORS

Amounts falling due after more than one year

8

47,331

23,041

NET ASSETS

611,288

385,510

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

611,188

385,410

611,288

385,510

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 December 2025 and were signed by:

Mrs S J Willett - Director

1.	STATUTORY INFORMATION

JC RAE Decorating Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

REVENUE RECOGNITION

Revenue, measured at the fair value of the consideration received or receivable, represents the amounts chargeable to clients for decorating services provided in the year. Revenue is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the provision of decorating services is recognised when all the following conditions are satisfied:

The amount of revenue can be measured reliably;

It is probable that the economic benefits associated with the transaction will flow to the company; and

The costs incurred or to be incurred in respect of the transition can be measured reliably.

For decorating projects that span multiple weeks or months, revenue is recognised using the percentage of completion method, which reflects the stage of progress the work is, with the completed portion of the project then being recognised as income.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The Digital asset is not considered to have a set useful life, so is not being amortised, but is reviewed by the director for impairment.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost - or SL over lease duration

Computer equipment

-

20% on cost

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated

impairment losses. Historical cost included 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.

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

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 Income Statement, 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.

HIRE PURCHASE AND LEASING COMMITMENTS

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Assets held under operating leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

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.

The company makes contributions into a recognised UK defined contribution scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. Obligations for contributions to defined contribution pension schemes are recognised as an expense in the profit and loss account in the periods during which services are rendered by employees.

CASH AND CASH EQUIVALENTS

Cash and cash equivalents comprise cash at bank and on hand and short-term deposits with an original maturity of three months or less that are readily convertible to known amounts of cash. The carrying amount represents fair value.

SHORT TERM DEBTORS AND CREDITORS

Debtors and creditors receivable and payable within one year or upon demand are recorded at transaction price whether or not a rate of interest is charged on the balance. Any losses arising from impairment are recognised in the income statement in other operating expenses.

EARLY ADOPTION OF FRS 102 AMENDMENTS (LEASES)

On 27 March 2024, the Financial Reporting Council (FRC) issued amendments to FRS 102 as part of its periodic review, including significant changes to Section 20: Leases. These amendments are effective for accounting periods beginning on or after 1 January 2026, with early adoption permitted provided all amendments are applied simultaneously.

The company has elected to early adopt the revised lease accounting requirements under Section 20 of FRS 102 for the year ended 31 March 2025. As a result, the company has applied the new on-balance sheet lease accounting model for lessees, recognising a right-of-use asset and a corresponding lease liability for applicable lease contracts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Other

asset

£

COST

Additions

165,000

At 31 March 2025

165,000

NET BOOK VALUE

At 31 March 2025

165,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

8,911

8,360

14,520

6,261

38,052

Additions

2,251

156

55,716

191

58,314

At 31 March 2025

11,162

8,516

70,236

6,452

96,366

DEPRECIATION

At 1 April 2024

5,334

4,489

5,808

4,259

19,890

Charge for year

2,151

1,653

15,425

1,252

20,481

At 31 March 2025

7,485

6,142

21,233

5,511

40,371

NET BOOK VALUE

At 31 March 2025

3,677

2,374

49,003

941

55,995

At 31 March 2024

3,577

3,871

8,712

2,002

18,162

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:

Motor

vehicles

£

COST

Additions

27,570

At 31 March 2025

27,570

DEPRECIATION

Charge for year

6,892

At 31 March 2025

6,892

NET BOOK VALUE

At 31 March 2025

20,678

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

97,310

54,453

Other debtors

127,853

121,704

CIS asset

11,713

6,613

Directors' current accounts

235,635

217,416

Prepayments

4,799

7,132

477,310

407,318

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,403

10,198

Hire purchase contracts and finance leases

12,669

3,183

Trade creditors

87,407

23,958

Tax

88,396

45,904

Social security and other taxes

-

30,751

VAT

102,102

29,656

Other creditors

2,613

1,033

Premium credit loan

31,364

81,926

Accrued expenses

3,505

3,299

338,459

229,908

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

1,740

10,403

Bank loans - 2-5 years

-

1,740

Hire purchase contracts and finance leases

45,591

10,898

47,331

23,041

9.	PENSION COMMITMENTS

The company operates a defined contribution scheme. At the reporting date there were no contributions due (2024: £16.84 due back to the company).

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the start of the year the director owed the company £217,415. During the year the director was advanced £349,812, and repaid £331,592 . At the end of the year the director owed the company £235,635.

This balance is repayable on demand and interest is charged at 2.25%.

11.	CAPITAL COMMITMENTS

At 31 March 2025, the company had no Capital Commitments contracted for but not provided for in these financial statements (2024: £nil).

12.	LEASES - RIGHT-OF-USE ASSETS

Following the early adoption of the revised Section 20 of FRS 102, the company has recognised right-of-use (ROU) assets and corresponding lease liabilities for leases previously classified as operating leases.

Right-of-Use Assets

The carrying amounts of right-of-use assets by class of underlying asset are as follows:

Class of Asset

2025 (£

)

2024 (£

)

Motor Vehicles

20,677

-

Total

20,677

-

Depreciation and Impairment

Depreciation charged on ROU assets during the year: £6,892

No impairment losses were recognised during the year.

Lease Liabilities and Interest Expense

Interest expense on lease liabilities: £4,991

Total cash outflows for leases: £14,316

Maturity Analysis of Lease Liabilities

Time band

Lease Payments (£

)

Within 1 year

4,706

1-5 years

13,539

Over 5 years

-

Total

18,245

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JC RAE Decorating Ltd for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of JC RAE Decorating Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of JC RAE Decorating Ltd and state those matters that we have agreed to state to the director of JC RAE Decorating Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JC RAE Decorating Ltd and its director for our work or for this report.

It is your duty to ensure that JC RAE Decorating Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JC RAE Decorating Ltd. You consider that JC RAE Decorating Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of JC RAE Decorating Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Rothmans LLP

Chartered Accountants

Chilworth Point

1 Chilworth Road

Southampton

Hampshire

SO16 7JQ

Date: .............................................