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REGISTERED NUMBER: 08434174 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

SPI PERFORMANCE COATINGS LIMITED

SPI PERFORMANCE COATINGS LIMITED (REGISTERED NUMBER: 08434174)

Contents of the Financial Statements
for the Year Ended 30 November 2023










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


SPI PERFORMANCE COATINGS LIMITED

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Marcus David Clifford Lockett
Richard Gregory Atkinson





SECRETARY: Denise Lockett





REGISTERED OFFICE: Coatings House
Mopes Lane
Purton
Swindon
Wiltshire
SN5 4HG





REGISTERED NUMBER: 08434174 (England and Wales)





ACCOUNTANTS: RCM Associates Limited
Green Farm Barn
The Green
Rathmell
Settle
North Yorkshire
BD24 0JX

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
SPI Performance 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 Statement of Financial Position. 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 SPI Performance Coatings Limited for the year ended 30 November 2023 which comprise the Income Statement, Statement of Financial Position 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 SPI Performance 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 SPI Performance Coatings Limited and state those matters that we have agreed to state to the Board of Directors of SPI Performance 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 SPI Performance Coatings Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that SPI Performance 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 profit of SPI Performance Coatings Limited. You consider that SPI Performance 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 SPI Performance 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.






RCM Associates Limited
Green Farm Barn
The Green
Rathmell
Settle
North Yorkshire
BD24 0JX


29 August 2024

SPI PERFORMANCE COATINGS LIMITED (REGISTERED NUMBER: 08434174)

Statement of Financial Position
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,891 21,269

CURRENT ASSETS
Stocks 150,123 171,763
Debtors 5 532,179 508,999
Cash at bank and in hand 122,878 91,280
805,180 772,042
CREDITORS
Amounts falling due within one year 6 270,956 349,168
NET CURRENT ASSETS 534,224 422,874
TOTAL ASSETS LESS CURRENT
LIABILITIES

552,115

444,143

CREDITORS
Amounts falling due after more than one
year

7

(15,000

)

(25,000

)

PROVISIONS FOR LIABILITIES (77 ) (4,432 )
NET ASSETS 537,038 414,711

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 536,938 414,611
SHAREHOLDERS' FUNDS 537,038 414,711

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

SPI PERFORMANCE COATINGS LIMITED (REGISTERED NUMBER: 08434174)

Statement of Financial Position - continued
30 November 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 29 August 2024 and were signed on its behalf by:




Marcus David Clifford Lockett - Director



Richard Gregory Atkinson - Director


SPI PERFORMANCE COATINGS LIMITED (REGISTERED NUMBER: 08434174)

Notes to the Financial Statements
for the Year Ended 30 November 2023


1. STATUTORY INFORMATION

SPI Performance 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.

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 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 and machinery etc - 25% on reducing balance and 20% 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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

SPI PERFORMANCE COATINGS LIMITED (REGISTERED NUMBER: 08434174)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 92,620
Additions 1,956
At 30 November 2023 94,576
DEPRECIATION
At 1 December 2022 71,351
Charge for year 5,334
At 30 November 2023 76,685
NET BOOK VALUE
At 30 November 2023 17,891
At 30 November 2022 21,269

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 258,743 303,910
Other debtors 273,436 205,089
532,179 508,999

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 95,826 171,252
Taxation and social security 148,604 143,856
Other creditors 16,526 24,060
270,956 349,168

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,000 25,000