IRIS Accounts Production v24.3.0.553 07175170 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 1.00000 A Ordinary 1.00000 B Ordinary 1.00000 C Ordinary 1.00000 D Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh071751702023-03-31071751702024-03-31071751702023-04-012024-03-31071751702022-03-31071751702022-04-012023-03-31071751702023-03-3107175170ns15:EnglandWales2023-04-012024-03-3107175170ns14:PoundSterling2023-04-012024-03-3107175170ns10:Director12023-04-012024-03-3107175170ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3107175170ns10:SmallEntities2023-04-012024-03-3107175170ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3107175170ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3107175170ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107175170ns10:AbridgedAccounts2023-04-012024-03-3107175170ns10:OrdinaryShareClass12023-04-012024-03-3107175170ns10:OrdinaryShareClass22023-04-012024-03-3107175170ns10:OrdinaryShareClass32023-04-012024-03-3107175170ns10:OrdinaryShareClass42023-04-012024-03-3107175170ns10:OrdinaryShareClass52023-04-012024-03-3107175170ns10:Director22023-04-012024-03-3107175170ns10:Director32023-04-012024-03-3107175170ns10:Director42023-04-012024-03-3107175170ns10:RegisteredOffice2023-04-012024-03-3107175170ns5:CurrentFinancialInstruments2024-03-3107175170ns5:CurrentFinancialInstruments2023-03-3107175170ns5:Non-currentFinancialInstruments2024-03-3107175170ns5:Non-currentFinancialInstruments2023-03-3107175170ns5:ShareCapital2024-03-3107175170ns5:ShareCapital2023-03-3107175170ns5:RetainedEarningsAccumulatedLosses2024-03-3107175170ns5:RetainedEarningsAccumulatedLosses2023-03-3107175170ns5:LeaseholdImprovements2023-04-012024-03-3107175170ns5:PlantMachinery2023-04-012024-03-3107175170ns5:FurnitureFittings2023-04-012024-03-3107175170ns5:MotorVehicles2023-04-012024-03-3107175170ns5:HirePurchaseContractsns5:WithinOneYear2024-03-3107175170ns5:HirePurchaseContractsns5:WithinOneYear2023-03-3107175170ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3107175170ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-03-3107175170ns5:HirePurchaseContracts2024-03-3107175170ns5:HirePurchaseContracts2023-03-3107175170ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3107175170ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3107175170ns10:OrdinaryShareClass12024-03-3107175170ns10:OrdinaryShareClass22024-03-3107175170ns10:OrdinaryShareClass32024-03-3107175170ns10:OrdinaryShareClass42024-03-3107175170ns10:OrdinaryShareClass52024-03-31
REGISTERED NUMBER: 07175170 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

SUPERIOR POWDER COATINGS (UK) LIMITED

SUPERIOR POWDER COATINGS (UK) LIMITED (REGISTERED NUMBER: 07175170)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


SUPERIOR POWDER COATINGS (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: M A McHugh
R M Hart
J A Jeffers
A L Slater





REGISTERED OFFICE: 86 Bison Place
Moss Side Industrial Estate
Leyland
Preston
PR26 7QR





REGISTERED NUMBER: 07175170 (England and Wales)





ACCOUNTANTS: Ryans
Chartered Accountants
67 Chorley Old Road
Bolton
BL1 3AJ

SUPERIOR POWDER COATINGS (UK) LIMITED (REGISTERED NUMBER: 07175170)

ABRIDGED BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 255,503 294,923

CURRENT ASSETS
Stocks 117,857 86,413
Debtors 700,208 499,418
Cash at bank and in hand 23,269 140,540
841,334 726,371
CREDITORS
Amounts falling due within one year 713,803 622,647
NET CURRENT ASSETS 127,531 103,724
TOTAL ASSETS LESS CURRENT
LIABILITIES

383,034

398,647

CREDITORS
Amounts falling due after more than one
year

(58,625

)

(145,523

)

PROVISIONS FOR LIABILITIES (63,876 ) (42,120 )
NET ASSETS 260,533 211,004

CAPITAL AND RESERVES
Called up share capital 7 800 800
Retained earnings 259,733 210,204
SHAREHOLDERS' FUNDS 260,533 211,004

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

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

SUPERIOR POWDER COATINGS (UK) LIMITED (REGISTERED NUMBER: 07175170)

ABRIDGED BALANCE SHEET - continued
31ST MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th November 2024 and were signed on its behalf by:





M A McHugh - Director


SUPERIOR POWDER COATINGS (UK) LIMITED (REGISTERED NUMBER: 07175170)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Superior Powder Coatings (UK) 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on reducing balance
Plant and machinery - 15% on reducing balance
Office equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

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 Statement of Income and Retained Earnings, 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.

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.

SUPERIOR POWDER COATINGS (UK) LIMITED (REGISTERED NUMBER: 07175170)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Grant income
Grant income receivable for the purchase of fixed assets is recognised in the Income Statement over the useful economic life of the assets purchased. A liability is recongised in respect of the grant income received in excess of amounts recognised in the Income Statement to date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 22 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2023 577,956
Additions 16,561
Disposals (26,500 )
At 31st March 2024 568,017
DEPRECIATION
At 1st April 2023 283,033
Charge for year 42,933
Eliminated on disposal (13,452 )
At 31st March 2024 312,514
NET BOOK VALUE
At 31st March 2024 255,503
At 31st March 2023 294,923

SUPERIOR POWDER COATINGS (UK) LIMITED (REGISTERED NUMBER: 07175170)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1st April 2023 205,084
Disposals (26,500 )
At 31st March 2024 178,584
DEPRECIATION
At 1st April 2023 59,605
Charge for year 19,819
Eliminated on disposal (13,452 )
At 31st March 2024 65,972
NET BOOK VALUE
At 31st March 2024 112,612
At 31st March 2023 145,479

5. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 40,574 59,353
Between one and five years - 40,574
40,574 99,927

Finance charges repayable:
Within one year 1,051 3,732
Between one and five years - 1,051
1,051 4,783

Net obligations repayable:
Within one year 39,523 55,621
Between one and five years - 39,523
39,523 95,144

As at the year end the company had total operating lease commitments of £227,016, of which £110,894 is due over the next 12 month period with the remaining £116,122 being due after 12 months.

SUPERIOR POWDER COATINGS (UK) LIMITED (REGISTERED NUMBER: 07175170)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 39,523 95,144

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
400 Ordinary £1 400 400
100 A Ordinary £1 100 100
100 B Ordinary £1 100 100
100 C Ordinary £1 100 100
100 D Ordinary £1 100 100
800 800

8. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors who, between them, have a beneficial interest in all of the issued share capital.