Company Registration No. 14361674 (England and Wales)
Pro-spec Coatings Ltd
Unaudited accounts
for the year ended 30 September 2024
Pro-spec Coatings Ltd
Unaudited accounts
Contents
Pro-spec Coatings Ltd
Company Information
for the year ended 30 September 2024
Directors
Oliver Micah Wheeller
Alan Richard Smith
Company Number
14361674 (England and Wales)
Registered Office
Unit 412
Solent Business Centre
343 Millbrook Road West
Southampton
Hampshire
SO15 0HW
United Kingdom
Accountants
365 Accounts Ltd
44 Brookwood Road
Southampton
Hampshire
SO16 9AJ
Pro-spec Coatings Ltd
Statement of financial position
as at 30 September 2024
Tangible assets
21,080
15,131
Cash at bank and in hand
10,270
3,093
Creditors: amounts falling due within one year
(10,833)
(18,349)
Net current assets/(liabilities)
9,666
(3,400)
Called up share capital
2
2
Profit and loss account
30,744
11,729
Shareholders' funds
30,746
11,731
For the year ending 30 September 2024 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2025 and were signed on its behalf by
Oliver Micah Wheeller
Director
Company Registration No. 14361674
Pro-spec Coatings Ltd
Notes to the Accounts
for the year ended 30 September 2024
Pro-spec Coatings Ltd is a private company, limited by shares, registered in England and Wales, registration number 14361674. The registered office is Unit 412, Solent Business Centre, 343 Millbrook Road West, Southampton, Hampshire, SO15 0HW, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance Method
Motor vehicles
25% Reducing Balance Method
Computer equipment
33.33% Reducing Balance Method
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 October 2023
3,000
13,000
225
16,225
Additions
3,691
7,500
-
11,191
At 30 September 2024
6,691
20,500
225
27,416
At 1 October 2023
250
813
31
1,094
Charge for the year
1,193
3,984
65
5,242
At 30 September 2024
1,443
4,797
96
6,336
At 30 September 2024
5,248
15,703
129
21,080
At 30 September 2023
2,750
12,187
194
15,131
Pro-spec Coatings Ltd
Notes to the Accounts
for the year ended 30 September 2024
Amounts falling due within one year
Trade debtors
10,229
11,856
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
3,916
-
Loans from directors
28
17,649
During the year the company maintained a loan account with its director(s) Mr. Oliver Micah Wheeller and Mr Alan Smith. As at the year end date the company owed its directors a total of £28 (2023 - £17,649).
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).