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REGISTERED NUMBER: 09511507 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

PREMIUM SPRAY INSULATION LTD

PREMIUM SPRAY INSULATION LTD (REGISTERED NUMBER: 09511507)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PREMIUM SPRAY INSULATION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R G Rice
Mrs N Rice





REGISTERED OFFICE: Finsbury House
New Street
Chipping Norton
Oxfordshire
OX7 5LL





REGISTERED NUMBER: 09511507 (England and Wales)





ACCOUNTANTS: V M Murphy & Co
Finsbury House,
New Street,
Chipping Norton,
Oxfordshire
OX7 5LL

PREMIUM SPRAY INSULATION LTD (REGISTERED NUMBER: 09511507)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 107,442 82,506

CURRENT ASSETS
Debtors 5 191,009 265,361
Cash at bank and in hand 66,848 42,622
257,857 307,983
CREDITORS
Amounts falling due within one year 6 168,179 148,174
NET CURRENT ASSETS 89,678 159,809
TOTAL ASSETS LESS CURRENT
LIABILITIES

197,120

242,315

CREDITORS
Amounts falling due after more than one
year

7

21,667

29,873
NET ASSETS 175,453 212,442

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 175,451 212,440
SHAREHOLDERS' FUNDS 175,453 212,442

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

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

PREMIUM SPRAY INSULATION LTD (REGISTERED NUMBER: 09511507)

BALANCE SHEET - continued
31 MARCH 2024


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 1 October 2024 and were signed on its behalf by:





Mrs N Rice - Director


PREMIUM SPRAY INSULATION LTD (REGISTERED NUMBER: 09511507)

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

1. STATUTORY INFORMATION

Premium Spray Insulation 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

PREMIUM SPRAY INSULATION LTD (REGISTERED NUMBER: 09511507)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 252,704
Additions 60,750
At 31 March 2024 313,454
DEPRECIATION
At 1 April 2023 170,198
Charge for year 35,814
At 31 March 2024 206,012
NET BOOK VALUE
At 31 March 2024 107,442
At 31 March 2023 82,506

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 68,414 156,856
Other debtors 122,595 108,505
191,009 265,361

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 54,100 44,775
Trade creditors 67,430 42,287
Taxation and social security 40,900 53,558
Other creditors 5,749 7,554
168,179 148,174

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 21,667 29,873