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Company Registration No. 10735621 (England and Wales)
Erme Decorating Limited Unaudited accounts for the year ended 30 June 2025
Erme Decorating Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Erme Decorating Limited Company Information for the year ended 30 June 2025
Directors
Stephen Smalley Frances Smalley
Company Number
10735621 (England and Wales)
Registered Office
Unit 2 Ermington Workshops Ermington Ivybridge PL21 9NT England
Accountants
PBS Accounting Limited 11 Longmeadow Close Plympton Plymouth Devon PL7 4JG
- 3 -
Erme Decorating Limited Statement of financial position as at 30 June 2025
2025
2024
Notes
£
£
Fixed assets
Intangible assets
4
4,520
6,780
Tangible assets
5
19,355
19,763
23,875
26,543
Current assets
Inventories
33,000
34,551
Debtors
6
33,987
66,738
Cash at bank and in hand
2,976
-
69,963
101,289
Creditors: amounts falling due within one year
7
(90,129)
(96,948)
Net current (liabilities)/assets
(20,166)
4,341
Total assets less current liabilities
3,709
30,884
Creditors: amounts falling due after more than one year
8
(56,185)
(60,540)
Net liabilities
(52,476)
(29,656)
Capital and reserves
Called up share capital
100
100
Profit and loss account
(52,576)
(29,756)
Shareholders' funds
(52,476)
(29,656)
For the year ending 30 June 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 directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2026 and were signed on its behalf by
Stephen Smalley Director Company Registration No. 10735621
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Erme Decorating Limited Notes to the Accounts for the year ended 30 June 2025
1
Statutory information
Erme Decorating Limited is a private company, limited by shares, registered in England and Wales, registration number 10735621. The registered office is Unit 2 Ermington Workshops, Ermington, Ivybridge, PL21 9NT, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of the grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33.33% Straight line
Motor vehicles
25% Reducing balance
Fixtures & fittings
33.33% Straight line
- 5 -
Erme Decorating Limited Notes to the Accounts for the year ended 30 June 2025
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Going concern
The company has negative current liabilities. The company is therefore reliant upon the continued financial support of its directors in order to continue operations. The directors have indicated their willingness to provide financial support to ensure that the company has sufficient resources to meet third parties debts as they fall due. Accordingly the accounts have been prepared on a going concern basis. If the support of the directors were withdrawn, then the going concern basis may not be acceptable. Adjustments may then have to be made to adjust the value of the assets to their recoverable amounts, to provide for any further liabilities that might arise, and to reclassify fixed assets and long term loans as current assets and current liabilities.
4
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2024
22,600
At 30 June 2025
22,600
Amortisation
At 1 July 2024
15,820
Charge for the year
2,260
At 30 June 2025
18,080
Net book value
At 30 June 2025
4,520
At 30 June 2024
6,780
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 July 2024
5,216
33,918
1,591
40,725
Additions
264
11,050
-
11,314
Disposals
-
(5,950)
-
(5,950)
At 30 June 2025
5,480
39,018
1,591
46,089
Depreciation
At 1 July 2024
5,109
14,516
1,337
20,962
Charge for the year
152
5,382
238
5,772
At 30 June 2025
5,261
19,898
1,575
26,734
Net book value
At 30 June 2025
219
19,120
16
19,355
At 30 June 2024
107
19,402
254
19,763
- 6 -
Erme Decorating Limited Notes to the Accounts for the year ended 30 June 2025
6
Debtors
2025
2024
£
£
Amounts falling due within one year
VAT
438
2,830
Trade debtors
33,277
63,908
Accrued income and prepayments
272
-
33,987
66,738
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
1,922
11,140
Obligations under finance leases and hire purchase contracts
2,706
2,420
Trade creditors
8,383
8,635
Taxes and social security
5,169
3,726
Other creditors
1,295
1,016
Loans from directors
41,450
35,389
Accruals
923
1,386
Deferred income
28,281
33,236
90,129
96,948
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
5,188
7,110
Obligations under finance leases and hire purchase contracts
997
3,430
Other creditors
50,000
50,000
56,185
60,540
9
Loans to directors
At the year end the director was owed £91,450 (2024 - £85,389).
10
Average number of employees
During the year the average number of employees was 2 (2024: 4).
- 7 -