Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 22 December 2021 false 1 January 2023 31 December 2023 31 December 2023 13814663 Mr S Thomson Mr M Preston iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13814663 2022-12-31 13814663 2023-12-31 13814663 2023-01-01 2023-12-31 13814663 frs-core:CurrentFinancialInstruments 2023-12-31 13814663 frs-core:Non-currentFinancialInstruments 2023-12-31 13814663 frs-core:ComputerEquipment 2023-01-01 2023-12-31 13814663 frs-core:FurnitureFittings 2023-12-31 13814663 frs-core:FurnitureFittings 2023-01-01 2023-12-31 13814663 frs-core:FurnitureFittings 2022-12-31 13814663 frs-core:MoreThanFiveYears 2023-12-31 13814663 frs-core:MotorVehicles 2023-12-31 13814663 frs-core:MotorVehicles 2023-01-01 2023-12-31 13814663 frs-core:MotorVehicles 2022-12-31 13814663 frs-core:PlantMachinery 2023-12-31 13814663 frs-core:PlantMachinery 2023-01-01 2023-12-31 13814663 frs-core:PlantMachinery 2022-12-31 13814663 frs-core:WithinOneYear 2023-12-31 13814663 frs-core:ShareCapital 2023-12-31 13814663 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 13814663 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13814663 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 13814663 frs-bus:SmallEntities 2023-01-01 2023-12-31 13814663 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13814663 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13814663 frs-bus:Director1 2023-01-01 2023-12-31 13814663 frs-bus:Director2 2023-01-01 2023-12-31 13814663 frs-core:CurrentFinancialInstruments 1 2023-12-31 13814663 frs-countries:EnglandWales 2023-01-01 2023-12-31 13814663 2021-12-21 13814663 2022-12-31 13814663 2021-12-22 2022-12-31 13814663 frs-core:CurrentFinancialInstruments 2022-12-31 13814663 frs-core:Non-currentFinancialInstruments 2022-12-31 13814663 frs-core:MoreThanFiveYears 2022-12-31 13814663 frs-core:WithinOneYear 2022-12-31 13814663 frs-core:ShareCapital 2022-12-31 13814663 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 13814663 frs-core:CurrentFinancialInstruments 1 2022-12-31
Registered number: 13814663
Thomson Protective Coatings Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13814663
31 December 2023 31 December 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 368,254 190,617
368,254 190,617
CURRENT ASSETS
Debtors 5 83,594 214,723
Cash at bank and in hand 496,640 360,429
580,234 575,152
Creditors: Amounts Falling Due Within One Year 6 (202,496 ) (217,408 )
NET CURRENT ASSETS (LIABILITIES) 377,738 357,744
TOTAL ASSETS LESS CURRENT LIABILITIES 745,992 548,361
Creditors: Amounts Falling Due After More Than One Year 7 (187,971 ) (220,696 )
NET ASSETS 558,021 327,665
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 557,921 327,565
SHAREHOLDERS' FUNDS 558,021 327,665
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Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr S Thomson
Director
14/03/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Thomson Protective Coatings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13814663 . The registered office is Venture Point, Towers Business Park, Wheelhouse Road, Rugeley, Staffordshire, WS15 1UZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balances
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 6)
6 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2023 22,507 230,218 1,431 254,156
Additions 133,436 114,983 3,284 251,703
As at 31 December 2023 155,943 345,201 4,715 505,859
Depreciation
As at 1 January 2023 5,627 57,554 358 63,539
Provided during the period 17,201 56,319 546 74,066
As at 31 December 2023 22,828 113,873 904 137,605
Net Book Value
As at 31 December 2023 133,115 231,328 3,811 368,254
As at 1 January 2023 16,880 172,664 1,073 190,617
5. Debtors
31 December 2023 31 December 2022
£ £
Due within one year
Trade debtors 49,488 130,407
Prepayments and accrued income 771 -
Other debtors - 49,712
VAT 33,335 34,604
83,594 214,723
6. Creditors: Amounts Falling Due Within One Year
31 December 2023 31 December 2022
£ £
Net obligations under finance lease and hire purchase contracts 59,257 56,056
Trade creditors 94,928 24,902
Corporation tax 19,365 21,950
Other taxes and social security 15,290 30,221
Net wages - 34,140
CIS Liability Account 7,812 24,799
Dividend Payable to Mark Preston 111 222
Accruals and deferred income 1,100 1,250
Directors' loan accounts 4,633 23,868
202,496 217,408
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7. Creditors: Amounts Falling Due After More Than One Year
31 December 2023 31 December 2022
£ £
Net obligations under finance lease and hire purchase contracts 91,535 99,246
Other loans 96,436 121,450
187,971 220,696
8. Obligations Under Finance Leases and Hire Purchase
31 December 2023 31 December 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 59,257 56,056
Later than five years 91,535 99,246
150,792 155,302
150,792 155,302
9. Share Capital
31 December 2023 31 December 2022
£ £
Allotted, Called up and fully paid 100 100
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