2023-08-012024-07-312024-07-31false12775666SPRAY SOLUTIONS 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SPRAY SOLUTIONS LTD

Registered Number
12775666
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

SPRAY SOLUTIONS LTD
Company Information
for the year from 1 August 2023 to 31 July 2024

Directors

HUGHES, Paul Anthony
MIDDLETON, Scott Maurice

Registered Address

C/O Xeinadin First Floor Secure House
Lulworth Close
Chandler's Ford
SO53 3TL

Registered Number

12775666 (England and Wales)
SPRAY SOLUTIONS LTD
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets324,02912,665
24,02912,665
Current assets
Debtors4215,946105,103
Cash at bank and on hand5,41846,252
221,364151,355
Creditors amounts falling due within one year5(75,814)(96,960)
Net current assets (liabilities)145,55054,395
Total assets less current liabilities169,57967,060
Creditors amounts falling due after one year6(16,733)(4,694)
Net assets152,84662,366
Capital and reserves
Called up share capital22
Profit and loss account152,84462,364
Shareholders' funds152,84662,366
The financial statements were approved and authorised for issue by the Board of Directors on 19 September 2024, and are signed on its behalf by:
HUGHES, Paul Anthony
Director
Registered Company No. 12775666
SPRAY SOLUTIONS LTD
Notes to the Financial Statements
for the year ended 31 July 2024

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.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
Revenue from sale of goods
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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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: Motor Vehicles - Straight-line at 25% Office Equipment - Straight-line at 25% Plant & Machinery - Straight-line at 25%
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.
2.Average number of employees

20242023
Average number of employees during the year02
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 August 2338,004
Additions24,220
At 31 July 2462,224
Depreciation and impairment
At 01 August 2325,339
Charge for year12,856
At 31 July 2438,195
Net book value
At 31 July 2424,029
At 31 July 2312,665
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables199,176102,298
Other debtors16,7702,805
Total215,946105,103
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables7,7876,783
Amounts owed to related parties3,11330,717
Taxation and social security57,43356,090
Finance lease and HP contracts6,2312,171
Accrued liabilities and deferred income1,2501,199
Total75,81496,960
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

2024

2023

££
Other creditors16,7334,694
Total16,7334,694
Long 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.
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts16,7334,694
8.Related party transactions
At the year-end a balance of £1,034 (2023: £18,359) & £2,079 (2023: 12,357) was owed to the directors Mr P Hughes and Mr S Middleton respectively.