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REGISTERED NUMBER: 04438372 (England and Wales)












ParaTech Coating UK Limited

Unaudited Financial Statements

for the Year Ended 31 July 2023






ParaTech Coating UK Limited (Registered number: 04438372)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ParaTech Coating UK Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: R D Thomas





REGISTERED OFFICE: Unit 3
Gladstone Road
Northampton
Northamptonshire
NN5 7RX





REGISTERED NUMBER: 04438372 (England and Wales)





ACCOUNTANTS: Kilby Fox
Chartered Accountants
4 Pavilion Court
600 Pavilion Drive
Northampton Business Park
Northampton
Northamptonshire
NN4 7SL

ParaTech Coating UK Limited (Registered number: 04438372)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,092 44,889

CURRENT ASSETS
Stocks 51,996 105,376
Debtors 5 243,421 161,258
Cash at bank and in hand 26,104 (2,728 )
321,521 263,906
CREDITORS
Amounts falling due within one year 6 332,645 283,099
NET CURRENT LIABILITIES (11,124 ) (19,193 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(10,032

)

25,696

CREDITORS
Amounts falling due after more than one
year

7

(37,500

)

(52,500

)

PROVISIONS FOR LIABILITIES - (3,942 )
NET LIABILITIES (47,532 ) (30,746 )

CAPITAL AND RESERVES
Called up share capital 65,000 65,000
Retained earnings (112,532 ) (95,746 )
SHAREHOLDERS' FUNDS (47,532 ) (30,746 )

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 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.

ParaTech Coating UK Limited (Registered number: 04438372)

Balance Sheet - continued
31 July 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 February 2024 and were signed by:





R D Thomas - Director


ParaTech Coating UK Limited (Registered number: 04438372)

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

1. STATUTORY INFORMATION

ParaTech Coating UK 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 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 & machinery etc - at varying rates on reducing balance and at varying rates 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.

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 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.

ParaTech Coating UK Limited (Registered number: 04438372)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 23 ) .

4. TANGIBLE FIXED ASSETS
Plant &
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022 121,534 828,424 949,958
Additions - 1,240 1,240
At 31 July 2023 121,534 829,664 951,198
DEPRECIATION
At 1 August 2022 121,534 783,535 905,069
Charge for year - 45,037 45,037
At 31 July 2023 121,534 828,572 950,106
NET BOOK VALUE
At 31 July 2023 - 1,092 1,092
At 31 July 2022 - 44,889 44,889

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 202,487 126,974
Amounts recoverable on contract 5,960 8,576
Directors' current accounts 19,572 16,839
Tax 6,360 5,343
Deferred tax asset 4,727 -
Prepayments and accrued income 4,315 3,526
243,421 161,258

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 22,486 42,736
Trade creditors 67,212 81,748
Corporation tax 3,128 2,111
Social security and other taxes 10,082 7,152
VAT 44,490 24,396
Other creditors 178,272 112,779
Accruals and deferred income 6,975 12,177
332,645 283,099

ParaTech Coating UK Limited (Registered number: 04438372)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Kingsway Finance loan 15,000 15,000
Kingsway Finance loan 22,500 37,500
37,500 52,500

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 24,911
Bank loans 59,986 70,325
59,986 95,236

Debenture including Fixed Charge over all present freehold and leasehold property; First Fixed Charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and First Floating Charge over all assets and undertaking both present and future dated 03 July 2002.

9. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements - 11,489

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Mr R D Thomas has given a personal guarantee in respect on the hire purchase liability and bank loan.

11. ULTIMATE CONTROLLING PARTY

The controlling party is R D Thomas.

The ultimate controlling party is R D Thomas.