Waveney Decorators Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04457434

Waveney Decorators Limited

Unaudited financial statements

For the year ended

31 May 2026

Waveney Decorators Limited

Statement of financial position

31 May 2026

	2026		2025
Note	£	£	£	£

Fixed assets

Tangible assets	5		123,926		126,861

Current assets

Stocks	6	500	500
Debtors	7	749,885	647,829
Investments	8	919,929	795,844
Cash at bank and in hand		116,706	188,985
		-----------	-----------
		1,787,020	1,633,158

Creditors: Amounts falling due within one year	9	( 122,709)		( 108,903)
		-----------		-----------
Net current assets			1,664,311		1,524,255
			-----------		-----------
Total assets less current liabilities			1,788,237		1,651,116

Provisions

Taxation including deferred tax	( 7,586)	( 7,342)
	-----------	-----------
Net assets	1,780,651	1,643,774
	-----------	-----------

Capital and reserves

Called up share capital	6	6
Profit and loss account	1,780,645	1,643,768
	-----------	-----------
Shareholders funds	1,780,651	1,643,774
	-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 May 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Waveney Decorators Limited

Statement of financial position (continued)

31 May 2026

These financial statements were approved by the board of directors and authorised for issue on 3 September 2026 , and are signed on behalf of the board by:

Mr K W Ellis	Mrs C Ellis
Director	Director

Company registration number: 04457434

Waveney Decorators Limited

Notes to the financial statements

Year ended 31 May 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Barsham House, The Hill, Barsham, Beccles, Suffolk, NR34 8HD.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Property Improvements	-	2% straight line
Plant & Machinery	-	15% straight line
Motor Vehicles	-	20% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

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 as a finance cost in profit or loss in the period it arises.

4. Employee numbers

The average number of employees during the year was 8 (2025: 8 ).

5. Tangible assets

	Leasehold Property Improvements	Plant & Machinery	Motor Vehicles	Total
	£	£	£	£
Cost
At 1 June 2025	88,170	12,932	100,168	201,270
Additions	–	3,189	12,913	16,102
Disposals	–	( 4,527)	( 5,695)	( 10,222)
	-------	-------	---------	---------
At 31 May 2026	88,170	11,594	107,386	207,150
	-------	-------	---------	---------
Depreciation
At 1 June 2025	24,550	9,653	40,206	74,409
Charge for the year	1,763	628	14,184	16,575
Disposals	–	( 2,940)	( 4,820)	( 7,760)
	-------	-------	---------	---------
At 31 May 2026	26,313	7,341	49,570	83,224
	-------	-------	---------	---------
Carrying amount
At 31 May 2026	61,857	4,253	57,816	123,926
	-------	-------	---------	---------
At 31 May 2025	63,620	3,279	59,962	126,861
	-------	-------	---------	---------

6. Stocks

	2026	2025
	£	£
Raw materials and consumables	500	500
	----	----

7. Debtors

	2026	2025
	£	£
Trade debtors	186,940	104,327
Other debtors	562,945	543,502
	---------	---------
	749,885	647,829
	---------	---------

8. Investments

	2026	2025
	£	£
Bonds	919,929	795,844
	---------	---------

9. Creditors: Amounts falling due within one year

	2026	2025
	£	£
Trade creditors	50,563	20,049
Social security and other taxes	63,251	76,089
Other creditors	8,895	12,765
	---------	---------
	122,709	108,903
	---------	---------

10. Directors' advances, credits and guarantees

The company occupies premises on land owned by the directors Mr K W and Mrs C Ellis without a formal lease or payment of rent. At 31 May 2026 there was a loan to the directors of £ 40,857 (2025: £ 24,088 ). Interest of £1,195 was charged at the official rate. £40,857 was the maximum amount owed at any point during the year.