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REGISTERED NUMBER: 02078275 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

ADHESIVE COATINGS LIMITED

ADHESIVE COATINGS LIMITED (REGISTERED NUMBER: 02078275)

Contents of the Financial Statements
for the Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ADHESIVE COATINGS LIMITED

Company Information
for the Year Ended 31 May 2024







Director: R A Barclay



Registered office: Eagle Technology Park
Queensway
Rochdale
Lancashire
OL11 1TQ



Registered number: 02078275 (England and Wales)



Accountants: Evelyn Partners (Manchester) Limited
Accountants
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN



Bankers: National Westminster Bank plc
115 Deansgate
Manchester
M3 2BG

ADHESIVE COATINGS LIMITED (REGISTERED NUMBER: 02078275)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 5 125,523 153,286

Current assets
Stocks 156,439 157,465
Debtors 6 761,864 700,150
Investments 7 350 350
Cash at bank and in hand 137,698 166,624
1,056,351 1,024,589
Creditors
Amounts falling due within one year 8 139,227 119,739
Net current assets 917,124 904,850
Total assets less current liabilities 1,042,647 1,058,136

Creditors
Amounts falling due after more than one
year

9

(7,442

)

(16,605

)

Provisions for liabilities (29,303 ) (28,960 )
Net assets 1,005,902 1,012,571

Capital and reserves
Called up share capital 10 12,010 12,010
Share premium 34,000 34,000
Revaluation reserve 11 51,890 51,890
Retained earnings 908,002 914,671
Shareholders' funds 1,005,902 1,012,571

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ADHESIVE COATINGS LIMITED (REGISTERED NUMBER: 02078275)

Balance Sheet - continued
31 May 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 January 2025 and were signed by:





R A Barclay - Director


ADHESIVE COATINGS LIMITED (REGISTERED NUMBER: 02078275)

Notes to the Financial Statements
for the Year Ended 31 May 2024


1. Statutory information

Adhesive Coatings 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. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are not considered to be any critical judgements or estimates in applying the company's accounting policies.

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 is recognised on despatch of goods.

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 - 5% on cost
Fixtures and fittings - 25% straight line
Motor vehicles - 25% straight line

Tangible fixed assets are included in the accounts at cost or deemed cost less depreciation.

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 Profit and Loss Account, 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.


ADHESIVE COATINGS LIMITED (REGISTERED NUMBER: 02078275)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


3. Accounting policies - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors, loans to fellow group companies and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the profit or loss.

There are no assets which are initially measured at fair value.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

4. Employees and directors

The average number of employees during the year was 8 (2023 - 8 ) .

ADHESIVE COATINGS LIMITED (REGISTERED NUMBER: 02078275)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


5. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1 June 2023 307,342 24,301 51,170 382,813
Additions 430 925 - 1,355
At 31 May 2024 307,772 25,226 51,170 384,168
Depreciation
At 1 June 2023 203,715 20,482 5,330 229,527
Charge for year 15,306 1,019 12,793 29,118
At 31 May 2024 219,021 21,501 18,123 258,645
Net book value
At 31 May 2024 88,751 3,725 33,047 125,523
At 31 May 2023 103,627 3,819 45,840 153,286

Includes in fixed assets are assets held under hire purchase or lease purchase contracts. The historical cost of these items is £32,245 (2023 - £32,245) with a depreciation charge to date of £6,046 (2023 - £4,434).

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 247,583 178,717
Amounts owed by group undertakings 464,340 498,090
Other debtors 49,941 23,343
761,864 700,150

7. Current asset investments
2024 2023
£    £   
Unlisted investments 350 350

8. Creditors: amounts falling due within one year
2024 2023
£    £   
Hire purchase contracts 9,527 9,527
Trade creditors 82,596 78,264
Taxation and social security 38,391 28,162
Other creditors 8,713 3,786
139,227 119,739

9. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Hire purchase contracts 7,442 16,605

ADHESIVE COATINGS LIMITED (REGISTERED NUMBER: 02078275)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £1 10,000 10,000
2,010 Preference - 8% cumulative
convertible shares £1 2,010 2,010
12,010 12,010

The conversion rights exercisable by the holder of the preference shares lapsed on 31 December 1994 and from that date the company is entitled to redeem them at par by giving not less than one month's notice.

11. Reserves
Revaluation
reserve
£   
At 1 June 2023
and 31 May 2024 51,890

Deferred tax has not been provided against revaluations as it is not material.

12. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:
20242023
£   £   
Balance outstanding at the start of year10,77510,558
Amounts advanced7,398217
Amounts repaid--
Balance outstanding at the end of the year18,17310,775

The above loan is interest free and repayable on demand.

13. Related party disclosures

At the year end the company was owed £464,340 (2023 - £498,089) from the parent company. The loan is interest free and repayable on demand.