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REGISTERED NUMBER: 07605495 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

SPRAY TECH COMMERCIAL REFINISHING
LIMITED

SPRAY TECH COMMERCIAL REFINISHING
LIMITED (REGISTERED NUMBER: 07605495)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

SPRAY TECH COMMERCIAL REFINISHING
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: K E Keene
D J Keene





REGISTERED OFFICE: 31-33 Albion Place
Sittingbourne Road
Maidstone
Kent
ME14 5DZ





REGISTERED NUMBER: 07605495 (England and Wales)





ACCOUNTANTS: Stephen Hill Mid Kent Limited
31-33 Albion Place
Sittingbourne Road
Maidstone
Kent
ME14 5DZ

SPRAY TECH COMMERCIAL REFINISHING
LIMITED (REGISTERED NUMBER: 07605495)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 73,862 76,307
Investment property 5 650,000 625,000
723,862 701,307

CURRENT ASSETS
Stocks 4,420 11,750
Debtors 6 955,208 931,852
Cash at bank and in hand 109,660 152,408
1,069,288 1,096,010
CREDITORS
Amounts falling due within one year 7 250,380 384,622
NET CURRENT ASSETS 818,908 711,388
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,542,770

1,412,695

CREDITORS
Amounts falling due after more than one
year

8

(39,395

)

(75,758

)

PROVISIONS FOR LIABILITIES 9 (35,299 ) (29,868 )
NET ASSETS 1,468,076 1,307,069

CAPITAL AND RESERVES
Called up share capital 103 103
Retained earnings 1,467,973 1,306,966
SHAREHOLDERS' FUNDS 1,468,076 1,307,069

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

SPRAY TECH COMMERCIAL REFINISHING
LIMITED (REGISTERED NUMBER: 07605495)

BALANCE SHEET - continued
30 JUNE 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 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 9 January 2025 and were signed on its behalf by:





D J Keene - Director


SPRAY TECH COMMERCIAL REFINISHING
LIMITED (REGISTERED NUMBER: 07605495)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Spray Tech Commercial Refinishing 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.

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 as modified by the revaluation of certain assets.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

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.

SPRAY TECH COMMERCIAL REFINISHING
LIMITED (REGISTERED NUMBER: 07605495)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

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 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 9,041 10,681 82,922 39,271 141,915
Additions 4,907 390 27,806 1,520 34,623
Disposals - - (29,500 ) - (29,500 )
At 30 June 2024 13,948 11,071 81,228 40,791 147,038
DEPRECIATION
At 1 July 2023 5,653 3,844 38,032 18,079 65,608
Charge for year 2,074 1,806 15,064 5,679 24,623
Eliminated on disposal - - (17,055 ) - (17,055 )
At 30 June 2024 7,727 5,650 36,041 23,758 73,176
NET BOOK VALUE
At 30 June 2024 6,221 5,421 45,187 17,033 73,862
At 30 June 2023 3,388 6,837 44,890 21,192 76,307

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 625,000
Revaluations 25,000
At 30 June 2024 650,000
NET BOOK VALUE
At 30 June 2024 650,000
At 30 June 2023 625,000

SPRAY TECH COMMERCIAL REFINISHING
LIMITED (REGISTERED NUMBER: 07605495)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. INVESTMENT PROPERTY - continued

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2019 1,341
Valuation in 2022 76,146
Valuation in 2024 25,000
Cost 547,513
650,000

If investment property had not been revalued they would have been included at the following historical cost:

30.6.24 30.6.23
£    £   
Cost 547,513 547,513

Investment property was valued on an open market basis basis on 30 June 2024 by the director. .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 113,114 277,386
Other debtors 842,094 654,466
955,208 931,852

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 36,364 36,364
Trade creditors 26,339 38,975
Taxation and social security 76,080 248,330
Other creditors 111,597 60,953
250,380 384,622

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 39,395 75,758

9. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax 35,299 29,868

SPRAY TECH COMMERCIAL REFINISHING
LIMITED (REGISTERED NUMBER: 07605495)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2023 29,868
Accelerated Capital Allowances (3,947 )
Fair Value adjustment 9,378
Balance at 30 June 2024 35,299

10. OFF-BALANCE SHEET ARRANGEMENTS

The company has operating leases with total amount of future commitment of £117,288 of which £34,609 is due within the first 12 months.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SPRAY TECH COMMERCIAL REFINISHING
LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Spray Tech Commercial Refinishing Limited for the year ended 30 June 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Spray Tech Commercial Refinishing Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Spray Tech Commercial Refinishing Limited and state those matters that we have agreed to state to the Board of Directors of Spray Tech Commercial Refinishing Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spray Tech Commercial Refinishing Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Spray Tech Commercial Refinishing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Spray Tech Commercial Refinishing Limited. You consider that Spray Tech Commercial Refinishing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Spray Tech Commercial Refinishing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Stephen Hill Mid Kent Limited
31-33 Albion Place
Sittingbourne Road
Maidstone
Kent
ME14 5DZ


9 January 2025