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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
Page
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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
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Pro-spec Coatings Ltd Statement of financial position as at 30 September 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
21,080 
15,131 
Current assets
Debtors
10,229 
11,856 
Cash at bank and in hand
10,270 
3,093 
20,499 
14,949 
Creditors: amounts falling due within one year
(10,833)
(18,349)
Net current assets/(liabilities)
9,666 
(3,400)
Net assets
30,746 
11,731 
Capital and reserves
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
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Pro-spec Coatings Ltd Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 
Depreciation
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 
Net book value
At 30 September 2024
5,248 
15,703 
129 
21,080 
At 30 September 2023
2,750 
12,187 
194 
15,131 
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Pro-spec Coatings Ltd Notes to the Accounts for the year ended 30 September 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
10,229 
11,856 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
6,169 
- 
Taxes and social security
3,916 
- 
Loans from directors
28 
17,649 
Accruals
720 
700 
10,833 
18,349 
7
Loans to directors
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).
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