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Registered number: 02783840
Spraybooth Technology Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
GLX Advisory Limited
Chartered Accountants
69-75 Thorpe Road
Norwich
NR1 1UA
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—8
Page 1
Company Information
Directors Mrs W Dillon
Mr K Dillon
Secretary Mr K Dillon
Company Number 02783840
Registered Office 8 Ballingdon Hill Industrial Estate
Sudbury
Suffolk
CO10 2DX
Accountants GLX Advisory Limited
Chartered Accountants
69-75 Thorpe Road
Norwich
NR1 1UA
Page 1
Page 2
Balance Sheet
Registered number: 02783840
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 568,345 597,050
Tangible Assets 5 668,283 661,412
Investments 6 100 100
1,236,728 1,258,562
CURRENT ASSETS
Stocks 7 487,618 396,178
Debtors 8 2,413,053 2,075,441
Cash at bank and in hand 694,202 255,331
3,594,873 2,726,950
Creditors: Amounts Falling Due Within One Year 9 (3,703,651 ) (2,676,743 )
NET CURRENT ASSETS (LIABILITIES) (108,778 ) 50,207
TOTAL ASSETS LESS CURRENT LIABILITIES 1,127,950 1,308,769
Creditors: Amounts Falling Due After More Than One Year 10 (454,858 ) (675,600 )
NET ASSETS 673,092 633,169
CAPITAL AND RESERVES
Called up share capital 11 800 800
Revaluation reserve 12 304,134 304,134
Capital redemption reserve 8,000 8,000
Profit and Loss Account 360,158 320,235
SHAREHOLDERS' FUNDS 673,092 633,169
Page 2
Page 3
For the year ending 30 April 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr K Dillon
Director
31/01/2025
The notes on pages 4 to 8 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Spraybooth Technology Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02783840 . The registered office is 8 Ballingdon Hill Industrial Estate, Sudbury, Suffolk, CO10 2DX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are development costs. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are patents. They are not currently amortised as the patents are regularly developed. 
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not depreciated
Plant & Machinery 15% reducing balance
Motor Vehicles 10% reducing balance
Fixtures & Fittings 10% reducing balance
Computer Equipment 10% straight line
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2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.8. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 56 (2023: 49)
56 49
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4. Intangible Assets
Other Intellectual Property Total
£ £ £
Cost
As at 1 May 2023 750,000 34,550 784,550
Additions - 8,795 8,795
As at 30 April 2024 750,000 43,345 793,345
Amortisation
As at 1 May 2023 187,500 - 187,500
Provided during the period 37,500 - 37,500
As at 30 April 2024 225,000 - 225,000
Net Book Value
As at 30 April 2024 525,000 43,345 568,345
As at 1 May 2023 562,500 34,550 597,050
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost or Valuation
As at 1 May 2023 390,000 160,336 315,223 23,334 888,893
Additions - 9,885 26,063 6,097 42,045
As at 30 April 2024 390,000 170,221 341,286 29,431 930,938
Depreciation
As at 1 May 2023 - 110,830 112,789 3,862 227,481
Provided during the period - 7,932 24,614 2,628 35,174
As at 30 April 2024 - 118,762 137,403 6,490 262,655
Net Book Value
As at 30 April 2024 390,000 51,459 203,883 22,941 668,283
As at 1 May 2023 390,000 49,506 202,434 19,472 661,412
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6. Investments
Other
£
Cost
As at 1 May 2023 100
As at 30 April 2024 100
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 100
As at 1 May 2023 100
7. Stocks
2024 2023
£ £
Stock - other inventories 271,687 282,294
Work in progress 215,931 113,884
487,618 396,178
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,615,605 958,646
Amounts owed by group undertakings 365,433 420,505
Other debtors 432,015 696,290
2,413,053 2,075,441
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 58,881 49,696
Trade creditors 1,587,896 1,432,097
Bank loans and overdrafts 93,000 93,000
Other creditors 1,675,492 925,607
Taxation and social security 288,382 176,343
3,703,651 2,676,743
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10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 86,358 124,100
Bank loans 108,500 201,500
Other creditors 260,000 350,000
454,858 675,600
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 800 800
12. Reserves
Revaluation Reserve
£
As at 1 May 2023 304,134
As at 30 April 2024 304,134
13. Related Party Transactions
Included in debtors is a directors loan with a balance of £219,950 (2023: £219,950). The loan is unsecured, interest free and repayable on demand.
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