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Registration number: 07192450

Alltimes Coatings Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Alltimes Coatings Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

Alltimes Coatings Ltd

(Registration number: 07192450)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

58,951

28,357

Current assets

 

Stocks

6

84,767

88,669

Debtors

7

389,921

51,244

Cash at bank and in hand

 

41,543

136,894

 

516,231

276,807

Creditors: Amounts falling due within one year

8

(344,527)

(135,647)

Net current assets

 

171,704

141,160

Total assets less current liabilities

 

230,655

169,517

Creditors: Amounts falling due after more than one year

8

(25,038)

(40,809)

Provisions for liabilities

(14,585)

-

Net assets

 

191,032

128,708

Capital and reserves

 

Called up share capital

2

2

Retained earnings

191,030

128,706

Shareholders' funds

 

191,032

128,708

 

Alltimes Coatings Ltd

(Registration number: 07192450)
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 25 June 2025 and signed on its behalf by:
 

N R Alltimes
Director

   
     
 

Alltimes Coatings Ltd

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:
Units C & D Station Road Industrial Estate
South Woodchester
Stroud
Gloucestershire
GL5 5EQ

These financial statements were authorised for issue by the Board on 25 June 2025.

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.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. Thus the director has continued to adopt the going concern basis of accounting in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Alltimes Coatings Ltd

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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:

Asset class

Depreciation method and rate

Plant and machinery

20% on cost

Fixtures and fittings

20% on cost

Motor vehicles

20% on cost

Computer equipment

33% on cost

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

Other intangible assets

3 year straight line

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.

 

Alltimes Coatings Ltd

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

Debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

Alltimes Coatings Ltd

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

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 11 (2024 - 10).

 

Alltimes Coatings Ltd

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

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 April 2024

16,871

16,871

At 31 March 2025

16,871

16,871

Amortisation

At 1 April 2024

16,871

16,871

At 31 March 2025

16,871

16,871

Carrying amount

At 31 March 2025

-

-

5

Tangible assets

Plant and machinery
£

Fixtures and fittings
£

Motor vehicles
 £

Computer equipment
£

Total
£

Cost or valuation

At 1 April 2024

38,599

5,208

24,000

9,821

77,628

Additions

20,147

-

26,800

715

47,662

At 31 March 2025

58,746

5,208

50,800

10,536

125,290

Depreciation

At 1 April 2024

32,164

5,208

4,800

7,099

49,271

Charge for the year

6,751

-

8,373

1,944

17,068

At 31 March 2025

38,915

5,208

13,173

9,043

66,339

Carrying amount

At 31 March 2025

19,831

-

37,627

1,493

58,951

At 31 March 2024

6,435

-

19,200

2,722

28,357

The net book value of assets held under hire purchase contracts is £23,227 (2024 - £nil).

 

Alltimes Coatings Ltd

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

6

Stocks

2025
£

2024
£

Finished goods

84,767

88,669

7

Debtors

Note

2025
£

2024
£

Trade debtors

 

386,968

42,020

Amounts owed by related parties

11

-

9,224

Other debtors

 

1,728

-

Prepayments

 

1,225

-

 

389,921

51,244

8

Creditors

Due within one year

Note

2025
£

2024
£

 

Loans and borrowings

9

38,750

11,500

Trade creditors

 

156,040

31,217

Amounts due to related parties

11

84,068

72,825

Social security and other taxes

 

43,787

11,342

Other creditors

 

3,010

1,681

Accruals

 

3,700

2,996

Corporation tax liability

15,172

4,086

 

344,527

135,647

Due after one year

 

Loans and borrowings

9

25,038

40,809

 

Alltimes Coatings Ltd

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

9

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Bank borrowings

16,152

11,500

Hire purchase contracts

6,218

-

Other borrowings

16,380

-

38,750

11,500

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

7,725

40,809

Hire purchase contracts

17,313

-

25,038

40,809

Hire purchase contracts are secured against the assets to which they relate.

10

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are pensions of £1,803 (2024 - £Nil).

 

Alltimes Coatings Ltd

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

11

Related party transactions

Summary of transactions with key management

Key management comprises directors of the company.
 

Summary of transactions with other related parties

Other related parties include other companies under common control.
 

Loans to related parties

2025

Key management
£

Total
£

At start of period

9,224

9,224

Repaid

(9,224)

(9,224)

At end of period

-

-

2024

Key management
£

Total
£

Advanced

9,224

9,224

At end of period

9,224

9,224

Terms of loans to related parties

Loans to directors are interest free and repayable on demand.
 

Loans from related parties

2025

Key management
£

Other related parties
£

Total
£

At start of period

-

72,825

72,825

Advanced

28,463

20,800

49,263

Repaid

-

(38,020)

(38,020)

At end of period

28,463

55,605

84,068

2024

Other related parties
£

Total
£

At start of period

65,865

65,865

Advanced

6,960

6,960

At end of period

72,825

72,825

Terms of loans from related parties

Loans from directors are interest free and repayable on demand.
 Loans from other related parties are interest free and repayable on demand.