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Registered number: 05401863
Dave Mannings Painting Contractors Limited
Unaudited Financial Statements
For The Year Ended 31 July 2025
Beresfords
Chartered Certified Accountants
1-2 Rhodium Point
Spindle Close
Hawkinge, Folkestone
Kent
CT18 7TQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—8
Page 1
Balance Sheet
Registered number: 05401863
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 233,998 255,668
233,998 255,668
CURRENT ASSETS
Stocks 6 17,710 24,360
Debtors 7 74,853 67,497
92,563 91,857
Creditors: Amounts Falling Due Within One Year 8 (177,336 ) (136,960 )
NET CURRENT ASSETS (LIABILITIES) (84,773 ) (45,103 )
TOTAL ASSETS LESS CURRENT LIABILITIES 149,225 210,565
Creditors: Amounts Falling Due After More Than One Year 9 (57,075 ) (80,012 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (25,520 ) (30,937 )
NET ASSETS 66,630 99,616
CAPITAL AND RESERVES
Called up share capital 12 100 100
Revaluation reserve 23,153 23,153
Profit and Loss Account 43,377 76,363
SHAREHOLDERS' FUNDS 66,630 99,616
Page 1
Page 2
For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr D P Mannings
Director
12/01/2026
The notes on pages 3 to 8 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Dave Mannings Painting Contractors Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05401863 . The registered office is Unit 60, Lakesview International Business Park, Hersden, Canterbury, Kent, CT3 4JJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Significant judgements and estimations
No judgements have been made in the process of applying the accounting policies that have had a significant effect on the amounts recognised in the financial statements.
No key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been made.
2.4. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.5. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 10 years.
2.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0% on cost
Leasehold 0% on cost
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
Revaluation
The freehold property is carried at fair value, determined annually by the directors. No depreciation is provided.
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2.7. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.8. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.9. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.10. Interest Receivable
Interest income is recognised in the profit and loss account using the effective interest method.
2.11. Interest Payable
Finance costs are charged to the profit and loss account 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.
2.12. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.13. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.14. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
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2.15. Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2024: 8)
8 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2024 32,000
As at 31 July 2025 32,000
Amortisation
As at 1 August 2024 32,000
As at 31 July 2025 32,000
Net Book Value
As at 31 July 2025 -
As at 1 August 2024 -
5. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 August 2024 160,000 2,788 15,340 172,482
Additions - - - -
Disposals - - - -
As at 31 July 2025 160,000 2,788 15,340 172,482
Depreciation
As at 1 August 2024 - - 14,808 82,158
Provided during the period - - 133 22,581
Disposals - - - -
As at 31 July 2025 - - 14,941 104,739
Net Book Value
As at 31 July 2025 160,000 2,788 399 67,743
As at 1 August 2024 160,000 2,788 532 90,324
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Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 August 2024 6,780 4,451 361,841
Additions - 2,314 2,314
Disposals - (1,042 ) (1,042 )
As at 31 July 2025 6,780 5,723 363,113
Depreciation
As at 1 August 2024 6,150 3,057 106,173
Provided during the period 158 865 23,737
Disposals - (795 ) (795 )
As at 31 July 2025 6,308 3,127 129,115
Net Book Value
As at 31 July 2025 472 2,596 233,998
As at 1 August 2024 630 1,394 255,668
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2025 2024
£ £
Motor Vehicles 54,970 73,294
6. Stocks
2025 2024
£ £
Finished goods 1,000 1,000
Work in progress 16,710 23,360
17,710 24,360
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 73,564 61,459
Prepayments and accrued income 1,289 6,038
74,853 67,497
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8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 20,253 19,965
Trade creditors 21,004 18,578
Bank loans and overdrafts 71,897 70,056
Corporation tax 9,451 -
Other taxes and social security 2,201 1,894
VAT 14,614 16,839
Other creditors 4,503 4,212
Pension contributions due 440 364
Credit card 30,754 -
Accruals and deferred income 1,577 4,317
Director's loan account 642 735
177,336 136,960
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 32,611 49,992
Bank loans 24,464 30,020
57,075 80,012
10. Loans
An analysis of the maturity of loans is given below:
2025 2024
£ £
Amounts falling due within one year or on demand:
Bank loans 6,554 6,554
2025 2024
£ £
Amounts falling due between one and five years:
Bank loans 24,464 30,020
In the year to July 2021 the company received an unsecured loan under the UK Government Bounce Back Loan Scheme, which has the financial backing of the Secretary of State for Business, Energy and Industrial Strategy.
Repayments commenced in March 2022. Interest charged for the first twelve months of the year were covered by the UK Government.
The BBLS loan has been recognised at its present value.
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11. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 20,253 19,965
Later than one year and not later than five years 32,611 49,992
52,864 69,957
52,864 69,957
12. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
13. Pension Commitments
At the balance sheet date contributions of £440 (2024: £364) were due to the fund and are included in creditors.
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