Sprayitrite UK Limited 14477041 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is vehicle maintenance. Digita Accounts Production Advanced 6.30.9574.0 true 14477041 2024-04-01 2025-03-31 14477041 2025-03-31 14477041 core:CurrentFinancialInstruments 2025-03-31 14477041 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 14477041 core:Goodwill 2025-03-31 14477041 core:LandBuildings core:OwnedOrFreeholdAssets 2025-03-31 14477041 core:MotorVehicles 2025-03-31 14477041 core:OfficeEquipment 2025-03-31 14477041 core:PlantMachinery 2025-03-31 14477041 bus:SmallEntities 2024-04-01 2025-03-31 14477041 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 14477041 bus:FilletedAccounts 2024-04-01 2025-03-31 14477041 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 14477041 bus:RegisteredOffice 2024-04-01 2025-03-31 14477041 bus:Director1 2024-04-01 2025-03-31 14477041 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 14477041 core:Goodwill 2024-04-01 2025-03-31 14477041 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 14477041 core:MotorVehicles 2024-04-01 2025-03-31 14477041 core:OfficeEquipment 2024-04-01 2025-03-31 14477041 core:PlantMachinery 2024-04-01 2025-03-31 14477041 countries:EnglandWales 2024-04-01 2025-03-31 14477041 2024-03-31 14477041 core:Goodwill 2024-03-31 14477041 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 14477041 core:MotorVehicles 2024-03-31 14477041 core:OfficeEquipment 2024-03-31 14477041 core:PlantMachinery 2024-03-31 14477041 2022-11-10 2024-03-31 14477041 2024-03-31 14477041 core:CurrentFinancialInstruments 2024-03-31 14477041 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14477041 core:Goodwill 2024-03-31 14477041 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 14477041 core:MotorVehicles 2024-03-31 14477041 core:OfficeEquipment 2024-03-31 14477041 core:PlantMachinery 2024-03-31 iso4217:GBP xbrli:pure

Registration number: 14477041

Sprayitrite UK Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Sprayitrite UK Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Sprayitrite UK Limited

(Registration number: 14477041)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

50,000

50,000

Tangible assets

5

317,132

326,777

 

367,132

376,777

Current assets

 

Stocks

12,427

12,882

Debtors

6

36,232

37,167

Cash at bank and in hand

 

71,491

35,544

 

120,150

85,593

Creditors: Amounts falling due within one year

7

(363,549)

(384,285)

Net current liabilities

 

(243,399)

(298,692)

Total assets less current liabilities

 

123,733

78,085

Provisions for liabilities

(5,040)

(7,297)

Net assets

 

118,693

70,788

Capital and reserves

 

Called up share capital

100

100

Retained earnings

118,593

70,688

Shareholders' funds

 

118,693

70,788

 

Sprayitrite UK Limited

(Registration number: 14477041)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 May 2025 and signed on its behalf by:
 

.........................................
D J Bailey
Director

 

Sprayitrite UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of maintenance and repair of motor vehicles. Turnover is shown net of value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Sprayitrite UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Asset class

Depreciation method and rate

Plant & Machinery

20% Straight Line

Office Equipment

20% Straight Line

Motor Vehicles

25% Straight Line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Nil

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Sprayitrite UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Defined benefit pension obligation

Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.

The liability recognised in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.

Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2024 - 7).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2024

50,000

50,000

At 31 March 2025

50,000

50,000

Amortisation

Carrying amount

At 31 March 2025

50,000

50,000

At 31 March 2024

50,000

50,000

 

Sprayitrite UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Tangible assets

Land and buildings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 April 2024

290,068

37,022

1,206

8,000

At 31 March 2025

290,068

37,022

1,206

8,000

Depreciation

At 1 April 2024

-

7,334

185

2,000

Charge for the year

-

7,404

241

2,000

At 31 March 2025

-

14,738

426

4,000

Carrying amount

At 31 March 2025

290,068

22,284

780

4,000

At 31 March 2024

290,068

29,688

1,021

6,000

Total
£

Cost or valuation

At 1 April 2024

336,296

At 31 March 2025

336,296

Depreciation

At 1 April 2024

9,519

Charge for the year

9,645

At 31 March 2025

19,164

Carrying amount

At 31 March 2025

317,132

At 31 March 2024

326,777

Included within the net book value of land and buildings above is £290,068 (2024 - £290,068) in respect of freehold land and buildings.
 

 

Sprayitrite UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Debtors

Current

2025
£

2024
£

Trade debtors

32,356

33,999

Prepayments

754

768

Other debtors

3,122

2,400

 

36,232

37,167

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

325,352

305,352

Trade creditors

 

3,257

2,386

Taxation and social security

 

32,034

28,039

Other creditors

 

2,906

48,508

 

363,549

384,285

 

Sprayitrite UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Other borrowings

325,352

305,352

9

Related party transactions

Sprayitrite Limited have an inter-company loan with Dan Bailey Building Limited. D Bailey is a director of both companies.

At the balance sheet date the amounts due to Dan Bailey Building Limited was £163,050 (2024: £173,050).



Sprayitrite Limited have an inter-company loan with Cotswold Meat Company Limited. N Passmore is a director of both companies.

At the balance sheet date the amounts due to Cotswold Meat Company Limited was £20,300 (2024: £20,300).



Sprayitrite Limited have an inter-company loan with Passmore Developments Limited. N Passmore is a director of both companies.

At the balance sheet date the amounts due to Passmore Developments Limited was £142,000 (2024: £112,000).