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REGISTERED NUMBER: 02506691 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Online Coating Limited

Online Coating Limited (Registered number: 02506691)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Online Coating Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: R P Silcocks
D J H Baxter





REGISTERED OFFICE: Unit 406 Central Park Trading Estate
Petherton Road
Hengrove
Bristol
BS14 9BZ





REGISTERED NUMBER: 02506691 (England and Wales)





ACCOUNTANTS: Stanley Joseph Limited
Chartered Accountants
Suite 1
Liberty House
South Liberty Lane
Bristol
BS3 2ST

Online Coating Limited (Registered number: 02506691)

Statement of Financial Position
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 177,892 201,987

CURRENT ASSETS
Stocks 3,800 3,800
Debtors 5 288,682 262,189
Cash at bank 8,558 14,594
301,040 280,583
CREDITORS
Amounts falling due within one year 6 428,379 290,307
NET CURRENT LIABILITIES (127,339 ) (9,724 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

50,553

192,263

CREDITORS
Amounts falling due after more than one
year

7

(18,333

)

(31,327

)

PROVISIONS FOR LIABILITIES (31,879 ) (38,197 )
NET ASSETS 341 122,739

Online Coating Limited (Registered number: 02506691)

Statement of Financial Position - continued
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 323 323
Capital redemption reserve 18 18
Retained earnings - 122,398
341 122,739

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

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

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2024 and were signed on its behalf by:





D J H Baxter - Director


Online Coating Limited (Registered number: 02506691)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Online Coating 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.

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 machinery - 15% on reducing balance and 5% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Online Coating Limited (Registered number: 02506691)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like cash and bank balances, trade debtors and creditors, bank overdrafts, finance leases and hire purchase contracts and loans to or from related parties.

A financial asset or financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments.

Debt instruments are subsequently measured at amortised cost.

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 the profit and loss immediately.

Any reversals of impairment are recognised in the profit and 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.

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.

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 statement of financial position date.

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.

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.

Online Coating Limited (Registered number: 02506691)

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

2. ACCOUNTING POLICIES - continued

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.

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 21 (2022 - 23 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022
and 31 July 2023 474,754 10,286 89,790 6,083 580,913
DEPRECIATION
At 1 August 2022 313,007 6,386 54,338 5,195 378,926
Charge for year 14,205 585 8,861 444 24,095
At 31 July 2023 327,212 6,971 63,199 5,639 403,021
NET BOOK VALUE
At 31 July 2023 147,542 3,315 26,591 444 177,892
At 31 July 2022 161,747 3,900 35,452 888 201,987

Online Coating Limited (Registered number: 02506691)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 August 2022
and 31 July 2023 27,406
DEPRECIATION
At 1 August 2022 7,604
Charge for year 2,970
At 31 July 2023 10,574
NET BOOK VALUE
At 31 July 2023 16,832
At 31 July 2022 19,802

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 245,173 226,882
Amounts owed by group undertakings 32,718 31,500
Other debtors 10,791 3,807
288,682 262,189

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 2,994 3,991
Trade creditors 292,862 127,466
Taxation and social security 111,299 132,884
Other creditors 11,224 15,966
428,379 290,307

Online Coating Limited (Registered number: 02506691)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 18,333 28,333
Hire purchase contracts - 2,994
18,333 31,327