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Company registration number:
12134834
This Painting Life Limited
Unaudited Filleted Financial Statements for the year ended
31 March 2026
This Painting Life Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of This Painting Life Limited
Year ended
31 March 2026
As described on the statement of financial position, the Board of Directors of
This Painting Life Limited
are responsible for the preparation of the
financial statements
for the year ended
31 March 2026
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Paul Beech and Company Ltd
Certified Pubic Accountants
6 The Terrace
Rugby Road
Lutterworth
Leicestershire
LE17 4BW
United Kingdom
Date:
6 August 2026
This Painting Life Limited
Statement of Financial Position
31 March 2026

|  | 2026 | 2025
--- | --- | --- | ---
| Note | £ | £
Fixed assets |  |  |  |  |
Tangible assets | 5 | 1,205,365 |  | 1,059,096 |
Current assets |  |  |  |  |
Debtors | 6 | 11,142 |  | 113,774 |
Cash at bank and in hand |  | 5,979,253 |  | 4,485,215 |
|  | 5,990,395 |  | 4,598,989 |
Creditors: amounts falling due within one year | 7 | (153,482 | ) | (82,241 | )
Net current assets |  | 5,836,913 |  | 4,516,748 |
Total assets less current liabilities |  | 7,042,278 |  | 5,575,844 |
Provisions for liabilities |  | (766 | ) | (1,586 | )
Net assets |  | 7,041,512 |  | 5,574,258 |
Capital and reserves |  |  |  |  |
Called up share capital |  | 100 |  | 100 |
Profit and loss account |  | 7,041,412 |  | 5,574,158 |
Shareholders funds |  | 7,041,512 |  | 5,574,258 |

For the year ending
31 March 2026
, 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 financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
6 August 2026
, and are signed on behalf of the board by:

Mrs L Fletcher
Director

Company registration number:
12134834
This Painting Life Limited
Notes to the Financial Statements
Year ended
31 March 2026

## 1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
6 The Terrace
,
Rugby Road
,
Lutterworth
,
Leicestershire
,
LE17 4BW
, United Kingdom.

## 2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

## 3 Accounting policies

## Basis of preparation

The
financial statements
have been prepared on the historical cost basis.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

## Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.

## Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

## Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses, except is the circumstances stated below.
The company's freehold property, initially purchased with the intention of becoming an art retreat venue from where the company's trading activity of providing painting workshops would take place, continued with alterations to present workshop, studio and filming areas and residential rooms to accommodate students who wish to be reside overnight during the lectures and tutorial courses. The alterations were completed in January 2026 and depreciated has been charged from February 2026.
The company also incurred capital expenditure on plant and machinery (£5,854) and furnishings (£36,420) during the year associated with the provision of facilities at the property. These costs have been capitalised as fixed assets and depreciated charged from February 2026.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Office equipment | 3 years straight line
Fixtures, fittings and equipment | 5 years straight line
Plant and machinery | 10 years straight line
Land and buildings | 50 years straight line

## Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

## Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows:
Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost impairment.
All other financial instruments, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

## Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

## Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

## 4 Average number of employees

The average number of persons employed by the company during the year was nil (2025: nil).

## 5 Tangible assets

| Land and buildings | Plant and machinery etc. | Total
--- | --- | --- | ---
| £ | £ | £
Cost |  |  |  |  |  |
At 1 April 2025 | 1,020,277 |  | 49,668 |  | 1,069,945 |
Additions | 115,845 |  | 38,468 |  | 154,313 |
At 31 March 2026 | 1,136,122 |  | 88,136 |  | 1,224,258 |
Depreciation |  |  |  |  |  |
At 1 April 2025 | - |  | 10,849 |  | 10,849 |
Charge | 2,805 |  | 5,239 |  | 8,044 |
At 31 March 2026 | 2,805 |  | 16,088 |  | 18,893 |
Carrying amount |  |  |  |  |  |
At 31 March 2026 | 1,133,317 |  | 72,048 |  | 1,205,365 |
At 31 March 2025 | 1,020,277 |  | 38,819 |  | 1,059,096 |

## Investment property

## 6 Debtors

| 2026 | 2025
--- | --- | ---
| £ | £
Other debtors | 11,142 |  | 113,774 |

## 7 Creditors: amounts falling due within one year

| 2026 | 2025
--- | --- | ---
| £ | £
Trade creditors | 12,416 |  | 1,087 |
Taxation and social security | 135,648 |  | 74,889 |
Other creditors | 5,418 |  | 6,265 |
| 153,482 |  | 82,241 |

## 8 Director's advances, credit and guarantees

During the year the director entered the following advances and credits with the company, with interest paid at the official rate of 3.75% per annum::
Mrs H L Fletcher
2026
Balance b/f £48,966
Repayment £48,966
Advances £6,968
Balance c/f £6,968
2025
Balance b/f £(1,199)
Advance £50,165
Balance c/f £48,966