Acorah Software Products - Accounts Production 16.3.350 false true 31 August 2023 1 September 2022 false 27 May 2025 1 September 2023 31 August 2024 31 August 2024 05383869 Mr S J Ling Mr J N Whitfield Mr S J Ling iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05383869 2023-08-31 05383869 2024-08-31 05383869 2023-09-01 2024-08-31 05383869 frs-core:CurrentFinancialInstruments 2024-08-31 05383869 frs-core:Non-currentFinancialInstruments 2024-08-31 05383869 frs-core:BetweenOneFiveYears 2024-08-31 05383869 frs-core:ComputerEquipment 2023-09-01 2024-08-31 05383869 frs-core:FurnitureFittings 2023-09-01 2024-08-31 05383869 frs-core:InvestmentPropertyIncludedWithinPPE 2024-08-31 05383869 frs-core:InvestmentPropertyIncludedWithinPPE 2023-09-01 2024-08-31 05383869 frs-core:InvestmentPropertyIncludedWithinPPE 2023-08-31 05383869 frs-core:MoreThanFiveYears 2024-08-31 05383869 frs-core:MotorVehicles 2023-09-01 2024-08-31 05383869 frs-core:PlantMachinery 2024-08-31 05383869 frs-core:PlantMachinery 2023-09-01 2024-08-31 05383869 frs-core:PlantMachinery 2023-08-31 05383869 frs-core:WithinOneYear 2024-08-31 05383869 frs-core:ShareCapital 2024-08-31 05383869 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 05383869 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05383869 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 05383869 frs-bus:SmallEntities 2023-09-01 2024-08-31 05383869 frs-bus:Audited 2023-09-01 2024-08-31 05383869 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 05383869 frs-core:CostValuation 2023-08-31 05383869 frs-core:CostValuation 2024-08-31 05383869 frs-core:ProvisionsForImpairmentInvestments 2023-08-31 05383869 frs-core:ProvisionsForImpairmentInvestments 2024-08-31 05383869 frs-bus:Director1 2023-09-01 2024-08-31 05383869 frs-bus:Director2 2023-09-01 2024-08-31 05383869 frs-bus:CompanySecretary1 2023-09-01 2024-08-31 05383869 frs-countries:EnglandWales 2023-09-01 2024-08-31 05383869 2022-08-31 05383869 2023-08-31 05383869 2022-09-01 2023-08-31 05383869 frs-core:CurrentFinancialInstruments 2023-08-31 05383869 frs-core:Non-currentFinancialInstruments 2023-08-31 05383869 frs-core:BetweenOneFiveYears 2023-08-31 05383869 frs-core:MoreThanFiveYears 2023-08-31 05383869 frs-core:WithinOneYear 2023-08-31 05383869 frs-core:ShareCapital 2023-08-31 05383869 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 05383869
FP Advanced Coatings Limited
Financial Statements
For The Year Ended 31 August 2024
SFB Group Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—5
Page 1
Balance Sheet
Registered number: 05383869
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 537,084 3,680,759
Investments 5 100 100
537,184 3,680,859
CURRENT ASSETS
Debtors 6 1,317,995 2,180,014
Cash at bank and in hand - 88,100
1,317,995 2,268,114
Creditors: Amounts Falling Due Within One Year 7 (22,834 ) (124,379 )
NET CURRENT ASSETS (LIABILITIES) 1,295,161 2,143,735
TOTAL ASSETS LESS CURRENT LIABILITIES 1,832,345 5,824,594
Creditors: Amounts Falling Due After More Than One Year 8 (161,941 ) (1,191,342 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (60,821 ) (269,527 )
NET ASSETS 1,609,583 4,363,725
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 1,609,582 4,363,724
SHAREHOLDERS' FUNDS 1,609,583 4,363,725
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 S J Ling
Director
27/05/2025
The notes on pages 2 to 5 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
FP Advanced Coatings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05383869 . The registered office is 32 Bayton Road, Exhall, Coventry, West Midlands, CV7 9EJ.
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. Exemption From Preparing Consolidated Financial Statements
The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its ultimate parent, Threesixty Holdco 10 Limited, 32 Bayton Road Exhall, Coventry, West Midlands, United Kingdom, CV7 9EJ. The financial statements present information about the company as an individual entity and not about its group.
2.3. Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
 - the amount of revenue can be measured reliably;
 - it is probable that the Company will receive the consideration due under the contract;
 - the stage of completion of the contract at the end of the reporting period can be measured reliably; and
 - the costs incurred and the costs to complete the contract can be measured reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Historical cost included expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Freehold property is valued at cost less accumulated depreciation and accumulated impairement losses capitalised.
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 15%, 33% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 25% reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
2.5. Investment Properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
2.6. Taxation
The tax expense for the year comprises current and deferred tax.
Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively date.
2.7. Government Grant
Deferred grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life of the asset to which they relate.
Page 2
Page 3
2.8. Loans and Borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
2.9. Investments
Investment in subsidiaries are measured at cost less accumulated impairement.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Investment Properties Plant & Machinery etc. Total
£ £ £
Cost
As at 1 September 2023 2,227,050 3,669,017 5,896,067
Disposals (2,227,050 ) (903,490 ) (3,130,540 )
As at 31 August 2024 - 2,765,527 2,765,527
Depreciation
As at 1 September 2023 - 2,215,308 2,215,308
Provided during the period - 123,639 123,639
Disposals - (110,504 ) (110,504 )
As at 31 August 2024 - 2,228,443 2,228,443
Net Book Value
As at 31 August 2024 - 537,084 537,084
As at 1 September 2023 2,227,050 1,453,709 3,680,759
5. Investments
Subsidiaries
£
Cost
As at 1 September 2023 100
As at 31 August 2024 100
Provision
As at 1 September 2023 -
As at 31 August 2024 -
Net Book Value
As at 31 August 2024 100
As at 1 September 2023 100
Page 3
Page 4
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,480 6,480
Amounts owed by group undertakings 1,297,804 2,169,391
Other debtors 13,711 4,143
1,317,995 2,180,014
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 12,034 22,835
Bank loans and overdrafts 20 80,480
Amounts owed to group undertakings 283 -
Other creditors 10,497 21,064
22,834 124,379
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 1,024,630
Other creditors 161,941 166,712
161,941 1,191,342
9. Secured Creditors
The company has provided a joint guarantee to secure loan facilities to group undertakings, which creates a fixed and floating charge over the assets of the company. The amounts outstanding under these facilities as at 31 August 2024 were £4,518,750.
2024 2023
£ £
Bank loans and overdrafts - 1,105,111
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 126,000 -
Later than one year and not later than five years 1,134,000 -
Later than five years 1,365,000 -
2,625,000 -
Page 4
Page 5
12. Related Party Transactions
The company has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.
13. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
14. Audit Information
The auditor's report on the accounts of FP Advanced Coatings Limited for the year ended 31 August 2024 was unqualified.
The auditor's report was signed by Paul Carvell BFP FCA (Senior Statutory Auditor) for and on behalf of SFB Group Limited , Statutory Auditor.
SFB Group Limited
Manor Court Chambers
Townsend Drive
Nuneaton
Warwickshire
CV11 6RU
Page 5