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REGISTERED NUMBER: 13213391 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Truckpaint NW Ltd

Truckpaint NW Ltd (Registered number: 13213391)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Truckpaint NW Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: C S Crompton
G Smith





SECRETARY:





REGISTERED OFFICE: Unit 2b Huyton Road
Adlington
Chorley
United Kingdom
PR7 4HD





REGISTERED NUMBER: 13213391 (England and Wales)





ACCOUNTANTS: Triton Accountancy Services Ltd
Suite 7 Lesscent House
405 Wigan Rd
Ashton in Makerfield
Wigan
WN4 0AR

Truckpaint NW Ltd (Registered number: 13213391)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 44,800 50,400
Tangible assets 5 62,762 71,729
107,562 122,129

CURRENT ASSETS
Stocks 20,000 15,000
Debtors 6 201,349 248,659
Cash at bank and in hand 26 (551 )
221,375 263,108
CREDITORS
Amounts falling due within one year 7 340,827 406,105
NET CURRENT LIABILITIES (119,452 ) (142,997 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(11,890

)

(20,868

)

CREDITORS
Amounts falling due after more than
one year

8

-

(14,404

)

PROVISIONS FOR LIABILITIES 10 - (3,313 )
NET LIABILITIES (11,890 ) (38,585 )

Truckpaint NW Ltd (Registered number: 13213391)

Balance Sheet - continued
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (11,990 ) (38,685 )
(11,890 ) (38,585 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

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 24 October 2024 and were signed on its behalf by:





G Smith - Director


Truckpaint NW Ltd (Registered number: 13213391)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Truckpaint NW Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

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 - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Truckpaint NW Ltd (Registered number: 13213391)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 56,000
AMORTISATION
At 1 March 2023 5,600
Charge for year 5,600
At 29 February 2024 11,200
NET BOOK VALUE
At 29 February 2024 44,800
At 28 February 2023 50,400

Truckpaint NW Ltd (Registered number: 13213391)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 3,146 69,084 18,924 1,494 92,648
Additions - 820 - 277 1,097
At 29 February 2024 3,146 69,904 18,924 1,771 93,745
DEPRECIATION
At 1 March 2023 - 12,988 7,570 361 20,919
Charge for year - 6,915 2,839 310 10,064
At 29 February 2024 - 19,903 10,409 671 30,983
NET BOOK VALUE
At 29 February 2024 3,146 50,001 8,515 1,100 62,762
At 28 February 2023 3,146 56,096 11,354 1,133 71,729

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 148,702 206,573
Other debtors 52,647 42,086
201,349 248,659

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 13,546 43,774
Trade creditors 59,957 103,011
Taxation and social security 102,125 94,714
Other creditors 165,199 164,606
340,827 406,105

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans - 14,404

Truckpaint NW Ltd (Registered number: 13213391)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Factoring 119,612 146,304

10. PROVISIONS FOR LIABILITIES
28.2.23
£   
Deferred tax
Accelerated capital allowances 3,313

Deferred
tax
£   
Balance at 1 March 2023 3,313
Provided during year (13,874 )
Balance at 29 February 2024 (10,561 )