IRIS Accounts Production v24.2.0.383 05603411 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh056034112023-03-31056034112024-03-31056034112023-04-012024-03-31056034112022-03-31056034112022-04-012023-03-31056034112023-03-3105603411ns15:EnglandWales2023-04-012024-03-3105603411ns14:PoundSterling2023-04-012024-03-3105603411ns10:Director12023-04-012024-03-3105603411ns10:Director22023-04-012024-03-3105603411ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3105603411ns10:SmallEntities2023-04-012024-03-3105603411ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3105603411ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3105603411ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3105603411ns10:FullAccounts2023-04-012024-03-310560341112023-04-012024-03-3105603411ns10:CompanySecretary12023-04-012024-03-3105603411ns10:RegisteredOffice2023-04-012024-03-3105603411ns5:CurrentFinancialInstruments2024-03-3105603411ns5:CurrentFinancialInstruments2023-03-3105603411ns5:ShareCapital2024-03-3105603411ns5:ShareCapital2023-03-3105603411ns5:RetainedEarningsAccumulatedLosses2024-03-3105603411ns5:RetainedEarningsAccumulatedLosses2023-03-3105603411ns5:NetGoodwill2023-04-012024-03-3105603411ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3105603411ns5:ComputerSoftware2023-04-012024-03-3105603411ns5:NetGoodwill2023-03-3105603411ns5:IntangibleAssetsOtherThanGoodwill2023-03-3105603411ns5:NetGoodwill2024-03-3105603411ns5:IntangibleAssetsOtherThanGoodwill2024-03-3105603411ns5:NetGoodwill2023-03-3105603411ns5:IntangibleAssetsOtherThanGoodwill2023-03-3105603411ns5:PlantMachinery2023-03-3105603411ns5:FurnitureFittings2023-03-3105603411ns5:ComputerEquipment2023-03-3105603411ns5:PlantMachinery2023-04-012024-03-3105603411ns5:FurnitureFittings2023-04-012024-03-3105603411ns5:ComputerEquipment2023-04-012024-03-3105603411ns5:PlantMachinery2024-03-3105603411ns5:FurnitureFittings2024-03-3105603411ns5:ComputerEquipment2024-03-3105603411ns5:PlantMachinery2023-03-3105603411ns5:FurnitureFittings2023-03-3105603411ns5:ComputerEquipment2023-03-3105603411ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3105603411ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3105603411ns5:WithinOneYear2024-03-3105603411ns5:WithinOneYear2023-03-3105603411ns5:BetweenOneFiveYears2024-03-3105603411ns5:BetweenOneFiveYears2023-03-3105603411ns5:AllPeriods2024-03-3105603411ns5:AllPeriods2023-03-31
REGISTERED NUMBER: 05603411 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

L & M SPRAY FINISHERS LIMITED

L & M SPRAY FINISHERS LIMITED (REGISTERED NUMBER: 05603411)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


L & M SPRAY FINISHERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr M J Cutkelvin
Mr L A Irish





SECRETARY: Mr M J Cutkelvin





REGISTERED OFFICE: 188 Scudamore Road
Leicester
Leicestershire
LE3 1UQ





REGISTERED NUMBER: 05603411 (England and Wales)

L & M SPRAY FINISHERS LIMITED (REGISTERED NUMBER: 05603411)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 30,669 36,162
30,669 36,162

CURRENT ASSETS
Stocks 6 9,900 9,990
Debtors 7 175,173 155,090
Cash at bank 157,150 141,364
342,223 306,444
CREDITORS
Amounts falling due within one year 8 126,674 151,321
NET CURRENT ASSETS 215,549 155,123
TOTAL ASSETS LESS CURRENT
LIABILITIES

246,218

191,285

PROVISIONS FOR LIABILITIES 7,667 9,041
NET ASSETS 238,551 182,244

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 237,551 181,244
SHAREHOLDERS' FUNDS 238,551 182,244

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

L & M SPRAY FINISHERS LIMITED (REGISTERED NUMBER: 05603411)

BALANCE SHEET - continued
31 MARCH 2024


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 20 August 2024 and were signed on its behalf by:




Mr M J Cutkelvin - Director



Mr L A Irish - Director


L & M SPRAY FINISHERS LIMITED (REGISTERED NUMBER: 05603411)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

L & M Spray Finishers 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue comprises the fair value for the provision of services excluding value added taxes. The company provides services to customers under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

L & M SPRAY FINISHERS LIMITED (REGISTERED NUMBER: 05603411)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

L & M SPRAY FINISHERS LIMITED (REGISTERED NUMBER: 05603411)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 100,000 2,995 102,995
AMORTISATION
At 1 April 2023
and 31 March 2024 100,000 2,995 102,995
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 - - -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 144,634 2,147 13,456 160,237
Additions - - 2,987 2,987
At 31 March 2024 144,634 2,147 16,443 163,224
DEPRECIATION
At 1 April 2023 115,141 1,440 7,494 124,075
Charge for year 5,898 107 2,475 8,480
At 31 March 2024 121,039 1,547 9,969 132,555
NET BOOK VALUE
At 31 March 2024 23,595 600 6,474 30,669
At 31 March 2023 29,493 707 5,962 36,162

L & M SPRAY FINISHERS LIMITED (REGISTERED NUMBER: 05603411)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. STOCKS
2024 2023
£    £   
Stocks 9,900 9,990

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 158,332 140,170
Other debtors 16,841 14,920
175,173 155,090

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 28,054 39,092
Taxation and social security 79,247 73,655
Other creditors 19,373 38,574
126,674 151,321

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 58,610 50,981
Between one and five years 115,835 126,000
174,445 176,981

10. RELATED PARTY DISCLOSURES

As at 31 March 2024, £7,943 (2023 - £30,183) was owed to the directors of the company.

The loans are interest free and repayable on demand.