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REGISTERED NUMBER: 10272317 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

ADVANCED SURFACE TREATMENTS (COVENTRY)
LIMITED

ADVANCED SURFACE TREATMENTS (COVENTRY)
LIMITED (REGISTERED NUMBER: 10272317)

Contents of the Financial Statements
for the year ended 31 August 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ADVANCED SURFACE TREATMENTS (COVENTRY)
LIMITED

Company Information
for the year ended 31 August 2024







DIRECTORS: R J Symes
R M Hurrell
C J Stephen
Mrs D J Symes





REGISTERED OFFICE: 5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA





REGISTERED NUMBER: 10272317 (England and Wales)





ACCOUNTANTS: Thorne Lancaster Parker
5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA

ADVANCED SURFACE TREATMENTS (COVENTRY)
LIMITED (REGISTERED NUMBER: 10272317)

Statement of Financial Position
31 August 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 25,982 38,559
Property, plant and equipment 6 596,375 563,696
622,357 602,255

CURRENT ASSETS
Inventories 7 82,263 67,275
Debtors 8 2,121,764 1,867,398
Cash at bank and in hand 55 56,355
2,204,082 1,991,028
CREDITORS
Amounts falling due within one year 9 (2,273,973 ) (2,162,871 )
NET CURRENT LIABILITIES (69,891 ) (171,843 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

552,466

430,412

CAPITAL AND RESERVES
Called up share capital 12 50,000 50,000
Retained earnings 13 502,466 380,412
SHAREHOLDERS' FUNDS 552,466 430,412

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

ADVANCED SURFACE TREATMENTS (COVENTRY)
LIMITED (REGISTERED NUMBER: 10272317)

Statement of Financial Position - continued
31 August 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 Other comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 May 2025 and were signed on its behalf by:





R J Symes - Director


ADVANCED SURFACE TREATMENTS (COVENTRY)
LIMITED (REGISTERED NUMBER: 10272317)

Notes to the Financial Statements
for the year ended 31 August 2024


1. STATUTORY INFORMATION

Advanced Surface Treatments (Coventry) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
The directors of the company have reviewed cash flow forecasts and budgets for 2020 and 2021 and based on these the directors are of the opinion that it is appropriate for the company to prepare accounts on a going concern basis.

Revenue
Revenue represents the total amount receivable, net of value added tax, for goods and services provided in the ordinary course of business.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Property, plant and equipment are initially measured at cost (or deemed cost) and are subsequently measured at cost or valuation, net of depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration initially recorded at cost.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings over 5 years
Motor Vehicles over 5 years
Computer Equipment over 5 years

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

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


ADVANCED SURFACE TREATMENTS (COVENTRY)
LIMITED (REGISTERED NUMBER: 10272317)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation expense for the period comprises current and deferred tax recognised in the reporting period. 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. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

Current taxation assets and liabilities are not discounted.

Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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, where the amount charged to profit or loss is the contributions payable in the year. Differences between contributions payable in the year and the contributions actually paid are shown as either accruals or prepayments.

ADVANCED SURFACE TREATMENTS (COVENTRY)
LIMITED (REGISTERED NUMBER: 10272317)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt Section 11 of FRS 102 in respect of financial instruments as it has only basic financial instruments.

a) Basic financial assets

Trade and other debtors, and bank balances, which are due within one year are initially recognised at transaction price and subsequently carried at amortised cost being the transaction price less any amounts settled and any impairment losses.

At the end of each reporting period basic 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 profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

b) Basic financial liabilities and equity

Financial liabilities are classified as liabilities and equity instruments according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Trade creditors, and other creditors are initially recognised at transaction price and subsequently carried at amortised cost, being transaction price less any amounts settled.

Other loans are initially recognised at the transaction price, including transaction costs and subsequently measured at amortised cost using the effective interest method. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and other similar charges.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

c) Equity instruments

The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short term deposits with an original maturity date of three months or less.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2023 - 42 ) .

ADVANCED SURFACE TREATMENTS (COVENTRY)
LIMITED (REGISTERED NUMBER: 10272317)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 125,770
AMORTISATION
At 1 September 2023 87,211
Amortisation for year 12,577
At 31 August 2024 99,788
NET BOOK VALUE
At 31 August 2024 25,982
At 31 August 2023 38,559

6. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 September 2023 1,001,306 77,794 1,079,100
Additions 178,929 - 178,929
At 31 August 2024 1,180,235 77,794 1,258,029
DEPRECIATION
At 1 September 2023 461,987 53,417 515,404
Charge for year 137,315 8,935 146,250
At 31 August 2024 599,302 62,352 661,654
NET BOOK VALUE
At 31 August 2024 580,933 15,442 596,375
At 31 August 2023 539,319 24,377 563,696

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
Additions 53,890
At 31 August 2024 53,890
NET BOOK VALUE
At 31 August 2024 53,890

ADVANCED SURFACE TREATMENTS (COVENTRY)
LIMITED (REGISTERED NUMBER: 10272317)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


7. INVENTORIES
2024 2023
£    £   
Stocks 82,263 67,275

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,179,584 1,151,089
Amounts owed by group undertakings 844,950 617,765
Other debtors - 4,836
Prepayments and accrued income 97,230 93,708
2,121,764 1,867,398

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 677,092 756,054
Other loans 241,619 335,673
Hire purchase contracts (see note 10) 29,090 -
Trade creditors 557,793 452,671
Tax 202,942 131,330
Social security and other taxes 239,541 218,586
Other creditors 170,336 122,624
Accruals and deferred income 155,560 145,933
2,273,973 2,162,871

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 29,090 -

Non-cancellable operating leases
2024 2023
£    £   
Within one year 65,000 65,000
Between one and five years 100,000 165,000
165,000 230,000

ADVANCED SURFACE TREATMENTS (COVENTRY)
LIMITED (REGISTERED NUMBER: 10272317)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 677,092 756,054

The invoice discounting facility is secured by an all assets charge incorporating a fixed and floating charge over all the assets, present and future, of the company.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50,000 Ordinary 1 50,000 50,000

13. RESERVES
Retained
earnings
£   

At 1 September 2023 380,412
Profit for the year 478,804
Dividends (356,750 )
At 31 August 2024 502,466

14. RELATED PARTY DISCLOSURES

Metal Colours Holdings Limited
Parent undertaking

At the balance sheet date Metal Colours Holdings Limited owed £817,669 (2023: £581,077) to the Company. The amount is unsecured, interest free and there is no fixed date for repayment.

Alpha Industrial Limited
Fellow subsidiary

At the balance sheet date, Alpha Industrial Limited owed £16,939 (2023: £26,346) to the Company. The amount is unsecured, interest free and there is no fixed date for repayment.

15. ULTIMATE CONTROLLING PARTY

The controlling party is Metal Colours Holdings Limited.

The ultimate controlling party is R J Symes.