2022-12-012023-11-302023-11-30false09321933PROPAINT SPRAYING 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PROPAINT SPRAYING LTD

Registered Number
09321933
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

PROPAINT SPRAYING LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

MORRIS, Nicholas

Registered Address

Unit 11 Broadgate House
Westlode Street
Spalding
PE11 2AF

Place of Business

High View

Pipwell Gate

Saracens Head

Holbeach

PE12 8BA


Registered Number

09321933 (England and Wales)
PROPAINT SPRAYING LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets311,82820,074
11,82820,074
Current assets
Debtors2,5384,599
Cash at bank and on hand76810,117
3,30614,716
Creditors amounts falling due within one year5(35,534)(57,328)
Net current assets (liabilities)(32,228)(42,612)
Total assets less current liabilities(20,400)(22,538)
Creditors amounts falling due after one year6(9,796)(10,478)
Net assets(30,196)(33,016)
Capital and reserves
Profit and loss account(30,196)(33,016)
Shareholders' funds(30,196)(33,016)
The financial statements were approved and authorised for issue by the Director on 13 March 2024, and are signed on its behalf by:
MORRIS, Nicholas
Director
Registered Company No. 09321933
PROPAINT SPRAYING LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 December 226,82533,505-40,330
Additions524-7051,229
Revaluations-(5,532)-(5,532)
At 30 November 237,34927,97370536,027
Depreciation and impairment
At 01 December 225,59814,658-20,256
Charge for year4383,3291763,943
At 30 November 236,03617,98717624,199
Net book value
At 30 November 231,3139,98652911,828
At 30 November 221,22718,847-20,074
4.Stocks
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables1,3892,105
Taxation and social security2,8481,131
Finance lease and HP contracts14,40420,625
Other creditors16,89333,467
Total35,53457,328
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts9,79610,478
Total9,79610,478