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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2018 |
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for |
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P.C. Decorating Services Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2018 |
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for |
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P.C. Decorating Services Limited |
P.C. Decorating Services Limited (Registered number: 04821531) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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P.C. Decorating Services Limited |
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Company Information |
for the Year Ended 31 March 2018 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Suite 1 |
Liberty House |
South Liberty Lane |
Bristol |
BS3 2ST |
P.C. Decorating Services Limited (Registered number: 04821531) |
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Statement of Financial Position |
31 March 2018 |
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31.3.18 | 31.3.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Property, plant and equipment | 5 |
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CURRENT ASSETS |
Inventories | 6 |
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Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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P.C. Decorating Services Limited (Registered number: 04821531) |
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Statement of Financial Position - continued |
31 March 2018 |
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31.3.18 | 31.3.17 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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P.C. Decorating Services Limited (Registered number: 04821531) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
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1. | STATUTORY INFORMATION |
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P.C. Decorating Services Limited is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the amounts receivable, excluding VAT and trade discounts, by the company for |
goods and services provided during the year. All transactions arose in the United Kingdom. |
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Goodwill |
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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. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Inventories 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. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling |
costs in bringing inventories to their present location and condition. |
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P.C. Decorating Services Limited (Registered number: 04821531) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the statement of financial position date. |
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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. |
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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. |
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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. |
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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. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period |
of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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P.C. Decorating Services Limited (Registered number: 04821531) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2017 |
and 31 March 2018 |
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AMORTISATION |
At 1 April 2017 |
and 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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5. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2017 |
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Disposals |
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At 31 March 2018 |
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DEPRECIATION |
At 1 April 2017 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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P.C. Decorating Services Limited (Registered number: 04821531) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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5. | PROPERTY, PLANT AND EQUIPMENT - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
At 1 April 2017 |
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Transfer to ownership | (25,295 | ) |
At 31 March 2018 |
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DEPRECIATION |
At 1 April 2017 |
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Charge for year |
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Transfer to ownership | (9,789 | ) |
At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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6. | INVENTORIES |
31.3.18 | 31.3.17 |
£ | £ |
Stocks |
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Work-in-progress |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade debtors |
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Tax |
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Prepayments |
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P.C. Decorating Services Limited (Registered number: 04821531) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Tax |
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VAT | 4,440 | 16,153 |
Directors' current accounts | 3,971 | 3,117 |
Accrued expenses |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Hire purchase contracts |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.18 | 31.3.17 |
value: | £ | £ |
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Ordinary | £1.00 | 1 | 1 |
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11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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P D Chudley |
Director |
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During the year the company entered into the following transactions with the director. |
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2018 | 2017 |
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Dividends paid | 100,000 | 115,000 |
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Capital introduced | 854 | 1,579 |
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Capital withdrawn | - | - |
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The amount due to the director at the year end was £3,971 (2017: £3,117). |
P.C. Decorating Services Limited (Registered number: 04821531) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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12. | ULTIMATE CONTROLLING PARTY |
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The controlling party is P D Chudley. |