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Registered number: 03775785
Hi-Tech Coatings (Rainford) Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
MAR Kilshaw Limited
99 Stanley Road
Bootle
Liverpool
Merseyside
L20 7DA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03775785
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1 1
Tangible Assets 5 91,303 27,941
91,304 27,942
CURRENT ASSETS
Stocks 6 16,250 16,113
Debtors 7 641,232 853,111
Cash at bank and in hand 42,403 53,347
699,885 922,571
Creditors: Amounts Falling Due Within One Year 8 (135,210 ) (157,309 )
NET CURRENT ASSETS (LIABILITIES) 564,675 765,262
TOTAL ASSETS LESS CURRENT LIABILITIES 655,979 793,204
Creditors: Amounts Falling Due After More Than One Year 9 (53,500 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,066 ) -
NET ASSETS 599,413 793,204
CAPITAL AND RESERVES
Called up share capital 11 2 2
Profit and Loss Account 599,411 793,202
SHAREHOLDERS' FUNDS 599,413 793,204
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 P E Honnor
Director
24 March 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Hi-Tech Coatings (Rainford) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03775785 . The registered office is Unit 22a Mill Lane, Rainford Industrial Estate, Rainford St Helens, Merseyside, WA11 8LS.
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 - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. 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:
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
Computer Equipment 15& Straight line
Page 3
Page 4
2.5. 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.
2.6. 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.
2.7. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 20 (2023: 20)
20 20
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2023 113,417
As at 31 July 2024 113,417
Amortisation
As at 1 August 2023 113,416
As at 31 July 2024 113,416
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 July 2024 1
As at 1 August 2023 1
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 August 2023 114,208 62,801 31,185 18,789 226,983
Additions - 91,667 - - 91,667
As at 31 July 2024 114,208 154,468 31,185 18,789 318,650
Depreciation
As at 1 August 2023 112,649 54,662 28,913 2,818 199,042
Provided during the period 390 24,951 568 2,396 28,305
As at 31 July 2024 113,039 79,613 29,481 5,214 227,347
Net Book Value
As at 31 July 2024 1,169 74,855 1,704 13,575 91,303
As at 1 August 2023 1,559 8,139 2,272 15,971 27,941
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 68,750 -
6. Stocks
2024 2023
£ £
Stock 16,250 16,113
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 115,066 237,510
Amounts owed by participating interests 493,201 -
Other debtors 32,965 615,601
641,232 853,111
Page 5
Page 6
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,000 -
Trade creditors 64,470 42,255
Amounts owed to participating interests - 7,025
Other creditors 25,454 27,259
Taxation and social security 31,286 80,770
135,210 157,309
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 53,500 -
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 14,000 -
Later than one year and not later than five years 53,500 -
67,500 -
67,500 -
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 6