Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-3168The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2024-01-01falseNo description of principal activity68truetruefalse SC181149 2024-01-01 2024-12-31 SC181149 2023-01-01 2023-12-31 SC181149 2024-12-31 SC181149 2023-12-31 SC181149 c:Director1 2024-01-01 2024-12-31 SC181149 c:Director2 2024-01-01 2024-12-31 SC181149 c:RegisteredOffice 2024-01-01 2024-12-31 SC181149 d:Buildings d:LongLeaseholdAssets 2024-01-01 2024-12-31 SC181149 d:Buildings d:LongLeaseholdAssets 2024-12-31 SC181149 d:Buildings d:LongLeaseholdAssets 2023-12-31 SC181149 d:PlantMachinery 2024-01-01 2024-12-31 SC181149 d:PlantMachinery 2024-12-31 SC181149 d:PlantMachinery 2023-12-31 SC181149 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC181149 d:MotorVehicles 2024-01-01 2024-12-31 SC181149 d:MotorVehicles 2024-12-31 SC181149 d:MotorVehicles 2023-12-31 SC181149 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC181149 d:FurnitureFittings 2024-01-01 2024-12-31 SC181149 d:FurnitureFittings 2024-12-31 SC181149 d:FurnitureFittings 2023-12-31 SC181149 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC181149 d:ComputerEquipment 2024-01-01 2024-12-31 SC181149 d:ComputerEquipment 2024-12-31 SC181149 d:ComputerEquipment 2023-12-31 SC181149 d:ComputerEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC181149 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC181149 d:CurrentFinancialInstruments 2024-12-31 SC181149 d:CurrentFinancialInstruments 2023-12-31 SC181149 d:CurrentFinancialInstruments 1 2024-12-31 SC181149 d:CurrentFinancialInstruments 1 2023-12-31 SC181149 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 SC181149 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC181149 d:ShareCapital 2024-12-31 SC181149 d:ShareCapital 2023-12-31 SC181149 d:CapitalRedemptionReserve 2024-12-31 SC181149 d:CapitalRedemptionReserve 2023-12-31 SC181149 d:RetainedEarningsAccumulatedLosses 2024-12-31 SC181149 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC181149 c:OrdinaryShareClass1 2024-01-01 2024-12-31 SC181149 c:OrdinaryShareClass1 2024-12-31 SC181149 c:OrdinaryShareClass1 2023-12-31 SC181149 c:FRS102 2024-01-01 2024-12-31 SC181149 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 SC181149 c:FullAccounts 2024-01-01 2024-12-31 SC181149 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC181149 d:WithinOneYear 2024-12-31 SC181149 d:WithinOneYear 2023-12-31 SC181149 d:BetweenOneFiveYears 2024-12-31 SC181149 d:BetweenOneFiveYears 2023-12-31 SC181149 d:MoreThanFiveYears 2024-12-31 SC181149 d:MoreThanFiveYears 2023-12-31 SC181149 f:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC181149










EUROSPRAY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

 
EUROSPRAY LIMITED
 

COMPANY INFORMATION


Directors
Mr M Strange 
Mr J G A Fairnie 




Registered number
SC181149



Registered office
Pentland House
Saltire Centre

Glenrothes

Fife

KY6 2AH




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
EUROSPRAY LIMITED
REGISTERED NUMBER: SC181149

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
187,121
185,109

  
187,121
185,109

Current assets
  

Stocks
  
25,063
29,760

Debtors: amounts falling due within one year
 5 
728,067
496,380

Cash at bank and in hand
  
736,155
178,166

  
1,489,285
704,306

Creditors: amounts falling due within one year
 6 
(950,289)
(540,353)

Net current assets
  
 
 
538,996
 
 
163,953

Total assets less current liabilities
  
726,117
349,062

Provisions for liabilities
  

Deferred tax
  
(41,687)
(41,378)

  
 
 
(41,687)
 
 
(41,378)

Net assets
  
684,430
307,684


Capital and reserves
  

Called up share capital 
 7 
15,000
15,000

Capital redemption reserve
  
15,000
15,000

Profit and loss account
  
654,430
277,684

  
684,430
307,684


Page 1

 
EUROSPRAY LIMITED
REGISTERED NUMBER: SC181149

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr J G A Fairnie
Mr M Strange
Director
Director


Date: 16 June 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
EUROSPRAY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Eurospray Limited is a private company, limited by shares, incorporated in Scotland, registration number SC181149. The registered office is Pentland House, Saltire Centre, Glenrothes, Fife, KY6 2AH. The trading address of the company is 2 Crompton Road, Glenrothes, Fife, KY6 2SF.
The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. 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 turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover 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 turnover 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.

Page 3

 
EUROSPRAY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge 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.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 4

 
EUROSPRAY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes 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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Leasehold property improvements
-
20%
reducing balance
Plant and machinery
-
15%
reducing balance
Motor vehicles
-
20%
reducing balance
Fixtures and fittings
-
20%
reducing balance
Computer equipment
-
20%
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.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 68 (2023 - 68).

Page 5
 


 
EUROSPRAY LIMITED


 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


4.


Tangible fixed assets






Leasehold property improvement
Plant and machinery
Fixtures and fittings
Computer equipment
Motor vehicles
Total

£
£
£
£
£
£



Cost or valuation


At 1 January 2024
30,420
581,784
87,967
8,141
-
708,312


Additions
-
22,671
3,936
2,026
7,500
36,133



At 31 December 2024

30,420
604,455
91,903
10,167
7,500
744,445



Depreciation


At 1 January 2024
25,156
440,028
53,884
4,135
-
523,203


Charge for the year on owned assets
1,056
23,335
7,307
1,173
1,250
34,121



At 31 December 2024

26,212
463,363
61,191
5,308
1,250
557,324



Net book value



At 31 December 2024
4,208
141,092
30,712
4,859
6,250
187,121



At 31 December 2023
5,264
141,756
34,083
4,006
-
185,109

Page 6
 
EUROSPRAY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
728,067
496,380

728,067
496,380



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
122,905
123,343

Other taxation and social security
359,840
161,519

Other finance
322,390
171,481

Other creditors
24,732
34,737

Accruals and deferred income
120,422
49,273

950,289
540,353


The other finance balance of £322,390 (2023 - £171,481) is secured by a bond and floating charge over the company's assets. 


7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



15,000 (2023 - 15,000) Ordinary shares of £1.00 each
15,000
15,000



8.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
102,123
67,601

Later than 1 year and not later than 5 years
241,799
296,667

Later than 5 years
-
35,667

343,922
399,935

Page 7

 
EUROSPRAY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Controlling party

On 13 December 2023, the Company became a wholly owned subsidiary of Eurospray Group Limited, a company registered in Scotland, whose registered office is Pentland House, Saltire Centre, Glenrothes, KY6 2AH.


Page 8