Registration number: NI029191

Patton Wallpapers (Coleraine) Limited

(Registration number: NI029191)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	87,710	108,301
Current assets
Stocks	5	118,931	94,766
Debtors	6	383,970	51,131
Cash at bank and in hand		316,928	815,141
		819,829	961,038
Creditors: Amounts falling due within one year	7	(88,400)	(137,257)
Net current assets		731,429	823,781
Total assets less current liabilities		819,139	932,082
Provisions for liabilities		-	(712)
Net assets		819,139	931,370
Capital and reserves
Called up share capital	8	10,000	10,000
Share premium reserve		20,000	20,000
Retained earnings		789,139	901,370
Shareholders' funds		819,139	931,370

For the financial year ending 31 December 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 24 March 2026
 

Patton Wallpapers (Coleraine) Limited

(Registration number: NI029191)
Balance Sheet as at 31 December 2025

......................................... Mr Michael David Patton Director

Patton Wallpapers (Coleraine) Limited

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

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: Bushmills Road, Coleraine, County Londonderry, BT52 2BP.

These financial statements were authorised for issue by the director on 24 March 2026.

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 the goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue from the sale of goods is recognised at the point of delivery and customer acceptance. Revenue from the rendering of services is recognised on completion of the service provision, at which point the Company has generated a right to consideration.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and 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.

Patton Wallpapers (Coleraine) Limited

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

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 income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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
Leasehold land and buildings	4% straight line basis
Fixtures and fittings	20% straight line basis
Motor vehicles	20% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term 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 income statement in operating expenses.

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.

Patton Wallpapers (Coleraine) Limited

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2024 - 7).

Patton Wallpapers (Coleraine) Limited

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

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2025	542,661	171,951	16,377	730,989
Additions	-	1,220	-	1,220
At 31 December 2025	542,661	173,171	16,377	732,209
Depreciation
At 1 January 2025	450,054	162,294	10,340	622,688
Charge for the year	14,192	6,412	1,207	21,811
At 31 December 2025	464,246	168,706	11,547	644,499
Carrying amount
At 31 December 2025	78,415	4,465	4,830	87,710
At 31 December 2024	92,607	9,657	6,037	108,301

Included within the net book value of land and buildings above is £78,415 (2024 - £92,607) in respect of freehold land and buildings.
 

5

Stocks

	2025 £	2024 £
Other inventories	118,931	94,766

6

Debtors

Current	2025 £	2024 £
Trade debtors	75,325	46,132
Prepayments	5,900	4,999
Other debtors	302,745	-
	383,970	51,131

Patton Wallpapers (Coleraine) Limited

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

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	3,576	35,261
Taxation and social security	20,022	50,264
Accruals and deferred income	11,445	14,313
Other creditors	53,357	37,419
	88,400	137,257

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	20,000	20,000	20,000	20,000

9	Related party transactions

At the year end the Company owed the director £1,947 (2024: £14,315). No interest has been charged on the outstanding balance.