Wayne Parkman Quality Decorating Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06519215 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

WAYNE PARKMAN QUALITY DECORATING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W R Parkman

Mrs J R Parkman

SECRETARY:

Mrs J R Parkman

REGISTERED OFFICE:

18 High West Street

Dorchester

Dorset

DT1 1UW

REGISTERED NUMBER:

06519215 (England and Wales)

ACCOUNTANTS:

Pugsley Revill

18 High West Street

Dorchester

Dorset

DT1 1UW

FIXED ASSETS

Intangible assets

4

900

1,350

Tangible assets

5

45,614

54,333

46,514

55,683

CURRENT ASSETS

Stocks

40,120

32,215

Debtors

6

61,512

40,284

101,632

72,499

CREDITORS

Amounts falling due within one year

7

111,736

82,072

NET CURRENT LIABILITIES

(10,104

)

(9,573

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

36,410

46,110

CREDITORS

Amounts falling due after more than one
year

8

(23,834

)

(33,060

)

PROVISIONS FOR LIABILITIES

10

(8,666

)

(10,323

)

NET ASSETS

3,910

2,727

CAPITAL AND RESERVES

Called up share capital

11

200

Retained earnings

3,710

2,527

SHAREHOLDERS' FUNDS

3,910

2,727

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 July 2026 and were signed on its behalf by:

Mrs J R Parkman - Director

W R Parkman - Director

1.	STATUTORY INFORMATION

Wayne Parkman Quality Decorating Limited 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

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.

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 equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

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 includes all direct costs and an appropriate proportion of fixed and variable overheads and in the

case of work in progress a proportion of attributable profit.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2025 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2025

and 31 March 2026

9,000

AMORTISATION

At 1 April 2025

7,650

Amortisation for year

450

At 31 March 2026

8,100

NET BOOK VALUE

At 31 March 2026

900

At 31 March 2025

1,350

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Office

equipment

vehicles

equipment

Totals

£

COST

At 1 April 2025

24,652

89,285

11,180

125,117

Additions

4,658

-

199

4,857

At 31 March 2026

29,310

89,285

11,379

129,974

DEPRECIATION

At 1 April 2025

17,096

45,248

8,440

70,784

Charge for year

1,832

11,009

735

13,576

At 31 March 2026

18,928

56,257

9,175

84,360

NET BOOK VALUE

At 31 March 2026

10,382

33,028

2,204

45,614

At 31 March 2025

7,556

44,037

2,740

54,333

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

Motor

vehicles

£

COST

At 1 April 2025

and 31 March 2026

45,740

DEPRECIATION

At 1 April 2025

6,670

Charge for year

9,767

At 31 March 2026

16,437

NET BOOK VALUE

At 31 March 2026

29,303

At 31 March 2025

39,070

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade debtors

15,647

2,267

Other debtors

1,500

833

Directors' loan accounts

44,098

36,917

Corporation tax

267

61,512

40,284

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Bank loans and overdrafts

8,752

5,127

Hire purchase contracts

9,226

Trade creditors

23,356

21,650

Corporation tax

9,410

14,081

Social security and other taxes

18,707

12,170

VAT

35,023

13,063

Other creditors

4,753

4,390

Accrued expenses

2,509

2,365

111,736

82,072

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

2026

2025

£

Hire purchase contracts

23,834

33,060

9.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

Bank overdrafts

8,752

5,127

Hire purchase contracts

33,060

42,286

41,812

47,413

10.	PROVISIONS FOR LIABILITIES

2026

2025

£

Deferred tax

8,666

10,323

Deferred

tax

£

Balance at 1 April 2025

10,323

Credit to Statement of Income and Retained Earnings during year

(1,657

)

Balance at 31 March 2026

8,666

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

100

Ordinary 'A' Shares

£1

100

Ordinary 'B' Shares

£1

100

200

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2026 and 31 March 2025:

2026

2025

£

W R Parkman and Mrs J R Parkman

Balance outstanding at start of year

36,917

22,012

Amounts advanced

29,373

50,303

Amounts repaid

(22,192

)

(35,398

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

44,098

36,917

Interest has been charged at the official rate of 3.75% on the directors' loan.