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Registration number: 11523726

Coatings Holdings (Wirral) Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Coatings Holdings (Wirral) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

Coatings Holdings (Wirral) Limited

(Registration number: 11523726)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

300,000

300,000

Investments

5

200,000

200,000

 

500,000

500,000

Current assets

 

Debtors

6

5,000

2

Cash at bank and in hand

 

376

102

 

5,376

104

Creditors: Amounts falling due within one year

7

(229,725)

(431,530)

Net current liabilities

 

(224,349)

(431,426)

Net assets

 

275,651

68,574

Capital and reserves

 

Called up share capital

2

2

Retained earnings

275,649

68,572

Shareholders' funds

 

275,651

68,574

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 August 2024 and signed on its behalf by:
 

 

Coatings Holdings (Wirral) Limited

(Registration number: 11523726)
Balance Sheet as at 31 December 2023

.........................................
Mr N Donovan
Director

 

Coatings Holdings (Wirral) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment properties are held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured are valued at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss in the period in which they arise.

Investment properties whose fair value cannot be measured reliably without undue cost or effort on an ongoing basis are included in plant, property and equipment at cost less accumulated depreciation and accumulated impairment losses.

 

Coatings Holdings (Wirral) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investment properties

2023
£

At 1 January

300,000

At 31 December

300,000

The directors have considered the fair value of the property at the year end and do not believe it has changed from the original cost.

5

Investments

2023
£

2022
£

Investments in subsidiaries

200,000

200,000

Subsidiaries

£

Cost or valuation

At 1 January 2023

200,000

Provision

Carrying amount

At 31 December 2023

200,000

At 31 December 2022

200,000

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

Coatings Holdings (Wirral) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Coatings Limited

Britannia House, Unit 9, Dock Road,Wirral, CH41 1DF

England and Wales

Ordinary

100%

100%

Subsidiary undertakings

Coatings Limited

The principal activity of Coatings Limited is powder coatings specialists.

6

Debtors

Current

2023
£

2022
£

Amounts owed by related parties

5,000

-

Other debtors

-

2

 

5,000

2

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

283

-

Other creditors

229,442

431,530

229,725

431,530

8

Related party transactions

At 31 December 2023 the Company's subsidiary Coatings Limited owed £246,014 (2022: £348,229) to the company. This loan is interest free and repayable on demand.

At 31 December 2023 a Company with a common director owed £5,000 (2022: £nil) to the company. This loan is interest free and repayable on demand.