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REGISTERED NUMBER: 08027239 (England and Wales)















Tema Protective Coatings Limited

Audited Financial Statements for the Year Ended 30 June 2024






Tema Protective Coatings Limited (Registered number: 08027239)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Tema Protective Coatings Limited

Company Information
for the Year Ended 30 June 2024







Directors: Mr M Donovan
Mr I H Harries



Registered office: Coleridge Road
Leckwith Industrial Estate
Cardiff
CF11 8BT



Registered number: 08027239 (England and Wales)



Senior statutory auditor: Victoria Carter



Auditors: Haines Watts Wales LLP, Statutory Auditors
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

Tema Protective Coatings Limited (Registered number: 08027239)

Balance Sheet
30 June 2024

2024 2023
Notes £    £   
Fixed assets
Tangible assets 4 327,162 361,313

Current assets
Stocks 119,744 15,545
Debtors 5 2,008,337 1,466,511
Cash at bank 1,810,979 794,088
3,939,060 2,276,144
Creditors
Amounts falling due within one year 6 (2,134,189 ) (1,019,105 )
Net current assets 1,804,871 1,257,039
Total assets less current liabilities 2,132,033 1,618,352

Creditors
Amounts falling due after more than one
year

7

-

(104,167

)

Provisions for liabilities 9 (56,950 ) (70,367 )
Net assets 2,075,083 1,443,818

Capital and reserves
Called up share capital 10 1 1
Retained earnings 2,075,082 1,443,817
Shareholders' funds 2,075,083 1,443,818

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by:





Mr M Donovan - Director


Tema Protective Coatings Limited (Registered number: 08027239)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. Statutory information

Tema Protective 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. 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.

Turnover
Turnover represents the sale of the application of paint and other protective coatings to structural steelworks including pressure vessels, tanks and pipework net of VAT.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue represents income recognised in respect of services provided during the year.

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
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance
Leasehold Property Improvements - 10% on straight line

Work in progress
Work in progress is valued at the lower of cost and net realisable value. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Tema Protective Coatings Limited (Registered number: 08027239)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. Accounting policies - continued

Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year and recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss in other administrative expenses.

3. Employees and directors

The average number of employees during the year was 13 (2023 - 14 ) .

4. Tangible fixed assets
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
Cost
At 1 July 2023 201,083 220,676 3,953
Additions 6,000 16,754 -
Disposals - - -
At 30 June 2024 207,083 237,430 3,953
Depreciation
At 1 July 2023 33,685 109,272 1,292
Charge for year 20,258 31,852 666
Eliminated on disposal - - -
At 30 June 2024 53,943 141,124 1,958
Net book value
At 30 June 2024 153,140 96,306 1,995
At 30 June 2023 167,398 111,404 2,661

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 July 2023 114,477 6,052 546,241
Additions 73,991 3,581 100,326
Disposals (90,077 ) - (90,077 )
At 30 June 2024 98,391 9,633 556,490
Depreciation
At 1 July 2023 36,559 4,120 184,928
Charge for year 26,673 482 79,931
Eliminated on disposal (35,531 ) - (35,531 )
At 30 June 2024 27,701 4,602 229,328
Net book value
At 30 June 2024 70,690 5,031 327,162
At 30 June 2023 77,918 1,932 361,313

Tema Protective Coatings Limited (Registered number: 08027239)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 593,631 509,164
Other debtors 1,402,757 949,715
Prepayments and accrued income 11,949 7,632
2,008,337 1,466,511

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts - 50,000
Trade creditors 233,915 103,183
Tax 227,428 141,282
Social security and other taxes 19,750 14,179
VAT 72,038 68,188
Other creditors 1,250,964 484,637
Directors' current accounts 52 5,507
Accruals and deferred income 330,042 152,129
2,134,189 1,019,105

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years - 50,000
Bank loans - 2-5 years - 54,167
- 104,167

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 154,167

The fixed and floating charge over all the property and undertakings of the company was satisfied in full on 19 January 2024.

9. Provisions for liabilities
2024 2023
£    £   
Deferred tax 56,950 70,367

Deferred
tax
£   
Balance at 1 July 2023 70,367
Credit to Income Statement during year (13,417 )
Balance at 30 June 2024 56,950

Tema Protective Coatings Limited (Registered number: 08027239)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

11. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Victoria Carter (Senior Statutory Auditor)
for and on behalf of Haines Watts Wales LLP, Statutory Auditors

12. Pension commitments

The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amounts to £11,713 (2023: £12,332).

Included within other creditors at the balance sheet was amounts owed to the scheme totalling £2,256 (2023 £946).

13. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
Mr M Donovan
Balance outstanding at start of year (5,507 ) (235 )
Amounts advanced 25,671 460,024
Amounts repaid (20,216 ) (465,296 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (52 ) (5,507 )

14. Related party disclosures

Companies under common control
During the year the company made sales of £320,503 (2023: £138,852), purchases of £63,952 (2023: £119,108) and incurred rental and utility costs of £200,485 (2023: £154,614).

2024 2023
£ £
Amount due (to)/from related party at the balance sheet date 159,567 464,971

15. Ultimate controlling party

The controlling party is Mr M Donovan.