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REGISTERED NUMBER: 09677664 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2023

for

SPRAY COATINGS LIMITED

SPRAY COATINGS LIMITED (REGISTERED NUMBER: 09677664)






Contents of the Financial Statements
for the Year Ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPRAY COATINGS LIMITED

Company Information
for the Year Ended 31st March 2023







DIRECTORS: J D Bevan
N Homan
D Poskitt





REGISTERED OFFICE: 89 Leigh Road
Eastleigh
Hampshire
SO50 9DQ





REGISTERED NUMBER: 09677664 (England and Wales)





ACCOUNTANTS: Graham Martin & Co
Accountants
89 Leigh Road
Eastleigh
Hampshire
SO50 9DQ

SPRAY COATINGS LIMITED (REGISTERED NUMBER: 09677664)

Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 175,818 157,918

CURRENT ASSETS
Stocks 6,558 3,320
Debtors 5 182,353 208,502
Cash at bank and in hand 32,858 32,418
221,769 244,240
CREDITORS
Amounts falling due within one year 6 108,502 130,594
NET CURRENT ASSETS 113,267 113,646
TOTAL ASSETS LESS CURRENT
LIABILITIES

289,085

271,564

CREDITORS
Amounts falling due after more than one
year

7

(63,856

)

(48,359

)

PROVISIONS FOR LIABILITIES (43,955 ) (30,004 )
NET ASSETS 181,274 193,201

CAPITAL AND RESERVES
Called up share capital 40 40
Retained earnings 181,234 193,161
181,274 193,201

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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.

SPRAY COATINGS LIMITED (REGISTERED NUMBER: 09677664)

Balance Sheet - continued
31st March 2023


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 14th November 2023 and were signed on its behalf by:





D Poskitt - Director


SPRAY COATINGS LIMITED (REGISTERED NUMBER: 09677664)

Notes to the Financial Statements
for the Year Ended 31st March 2023

1. STATUTORY INFORMATION

Spray Coatings 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

SPRAY COATINGS LIMITED (REGISTERED NUMBER: 09677664)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2022 210,656
Additions 127,288
Disposals (60,435 )
At 31st March 2023 277,509
DEPRECIATION
At 1st April 2022 52,738
Charge for year 58,606
Eliminated on disposal (9,653 )
At 31st March 2023 101,691
NET BOOK VALUE
At 31st March 2023 175,818
At 31st March 2022 157,918

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 140,246 184,374
Other debtors 42,107 24,128
182,353 208,502

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,395 6,584
Hire purchase contracts 34,719 30,641
Trade creditors 13,990 35,587
Amounts owed to group undertakings 8,309 8,309
Taxation and social security 30,500 30,974
Other creditors 17,589 18,499
108,502 130,594

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 63,856 48,359

SPRAY COATINGS LIMITED (REGISTERED NUMBER: 09677664)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2023 and 31st March 2022:

2023 2022
£    £   
J D Bevan
Balance outstanding at start of year 16,649 49
Amounts advanced 40,000 53,000
Amounts repaid (46,000 ) (36,400 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,649 16,649

D Poskitt
Balance outstanding at start of year (5,739 ) -
Amounts advanced 21,269 -
Amounts repaid (26,699 ) (5,739 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (11,169 ) (5,739 )

N Homan
Balance outstanding at start of year - -
Amounts advanced 10,000 -
Amounts repaid (5,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 5,000 -

9. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.