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REGISTERED NUMBER: 04327568 (England and Wales)















ANDREWS COATINGS LIMITED

Unaudited Financial Statements for the Year Ended 31 December 2023






ANDREWS COATINGS LIMITED (REGISTERED NUMBER: 04327568)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

ANDREWS COATINGS LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R.N. Kendrick
M T I Davies
C Bullock
MH Bullock





SECRETARY: C Bullock





REGISTERED OFFICE: Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB





REGISTERED NUMBER: 04327568 (England and Wales)





ACCOUNTANTS: Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB

ANDREWS COATINGS LIMITED (REGISTERED NUMBER: 04327568)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,305
Tangible assets 5 771 1,258
771 2,563

CURRENT ASSETS
Stocks 29,358 40,961
Debtors 6 31,822 41,209
Cash at bank and in hand 38,006 1,018
99,186 83,188
CREDITORS
Amounts falling due within one year 7 107,240 92,577
NET CURRENT LIABILITIES (8,054 ) (9,389 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(7,283

)

(6,826

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (7,383 ) (6,926 )
SHAREHOLDERS' FUNDS (7,283 ) (6,826 )

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

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

ANDREWS COATINGS LIMITED (REGISTERED NUMBER: 04327568)

Balance Sheet - continued
31 December 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 Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





M.H. Bullock - Director


ANDREWS COATINGS LIMITED (REGISTERED NUMBER: 04327568)

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


1. STATUTORY INFORMATION

Andrews Coatings 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
Turnover represents sales of goods net of vat. Turnover is recognised when goods are delivered to the customer.

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.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
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 cost and 15% on reducing balance
Fixtures and fittings - 33.33% on cost and 25% on reducing balance

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

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference shares of non-puttable ordinary shares which are measured at fair value, with changed recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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.


ANDREWS COATINGS LIMITED (REGISTERED NUMBER: 04327568)

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


2. ACCOUNTING POLICIES - continued
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.

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.

Going concern
The directors have considered the period ending 12 months after approving these financial statements and are prepared to fully support the company financially. For this reason the directors continue to adopt the going concern basis of accounting in preparing these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 27,900
AMORTISATION
At 1 January 2023 26,595
Charge for year 1,305
At 31 December 2023 27,900
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 1,305

ANDREWS COATINGS LIMITED (REGISTERED NUMBER: 04327568)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 January 2023 21,689 6,230 27,919
Additions - 217 217
At 31 December 2023 21,689 6,447 28,136
DEPRECIATION
At 1 January 2023 21,002 5,659 26,661
Charge for year 266 438 704
At 31 December 2023 21,268 6,097 27,365
NET BOOK VALUE
At 31 December 2023 421 350 771
At 31 December 2022 687 571 1,258

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 12,163 32,081
Directors' current accounts 14,553 9,128
Tax 5,106 -
31,822 41,209

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts - 878
Trade creditors 94,200 81,753
Social security and other taxes 6,142 2,512
VAT 3,830 4,366
Other creditors 73 73
Accrued expenses 2,995 2,995
107,240 92,577

ANDREWS COATINGS LIMITED (REGISTERED NUMBER: 04327568)

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


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
M.H. Bullock
Balance outstanding at start of year 9,128 14,953
Amounts advanced 8,250 11,000
Amounts repaid (2,825 ) (16,825 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,553 9,128

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Andrews Coatings Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Andrews Coatings Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Andrews Coatings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Andrews Coatings Limited and state those matters that we have agreed to state to the Board of Directors of Andrews Coatings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Andrews Coatings Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Andrews Coatings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Andrews Coatings Limited. You consider that Andrews Coatings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Andrews Coatings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB


28 August 2024