Company Registration No. 02493891 (England and Wales)
Industrial Powder and Paint Services Limited
Unaudited accounts
for the year ended 31 May 2025
Industrial Powder and Paint Services Limited
Unaudited accounts
Contents
Industrial Powder and Paint Services Limited
Company Information
for the year ended 31 May 2025
Directors
Kenneth Stedman
Eileen Stedman
Julian Stedman
Company Number
02493891 (England and Wales)
Registered Office
UNIT 9A
BOSS HALL ROAD
IPSWICH
SUFFOLK
IP1 5BN
ENGLAND
Accountants
ST Accountancy Services Ltd
6 The Square
Martlesham Heath
Suffolk
IP5 3SL
Industrial Powder and Paint Services Limited
Accountants' report
Accountants' report to the board of directors of Industrial Powder and Paint Services Limited (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 May 2025.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 31 May 2025. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
ST Accountancy Services Ltd
6 The Square
Martlesham Heath
Suffolk
IP5 3SL
30 June 2025
Industrial Powder and Paint Services Limited
Statement of financial position
as at 31 May 2025
Intangible assets
14,787
29,574
Tangible assets
157,814
132,878
Inventories
446,334
329,868
Cash at bank and in hand
592,618
594,086
Creditors: amounts falling due within one year
(514,981)
(518,245)
Net current assets
726,400
642,081
Net assets
899,001
804,533
Called up share capital
6,775
6,775
Profit and loss account
892,226
797,758
Shareholders' funds
899,001
804,533
For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 July 2025 and were signed on its behalf by
Julian Stedman
Director
Company Registration No. 02493891
Industrial Powder and Paint Services Limited
Notes to the Accounts
for the year ended 31 May 2025
Industrial Powder and Paint Services Limited is a private company, limited by shares, registered in England and Wales, registration number 02493891. The registered office is UNIT 9A, BOSS HALL ROAD, IPSWICH, SUFFOLK, IP1 5BN, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Motor vehicles
25% on reducing balance
Fixtures & fittings
25% straight line
Computer equipment
25% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Industrial Powder and Paint Services Limited
Notes to the Accounts
for the year ended 31 May 2025
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
Charge for the year
14,787
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 June 2024
177,323
156,231
75,556
76,006
485,116
Additions
13,698
43,982
8,523
4,697
70,900
Disposals
-
-
(960)
-
(960)
At 31 May 2025
191,021
200,213
83,119
80,703
555,056
At 1 June 2024
166,948
101,341
9,505
74,444
352,238
Charge for the year
3,840
22,885
17,636
643
45,004
At 31 May 2025
170,788
124,226
27,141
75,087
397,242
At 31 May 2025
20,233
75,987
55,978
5,616
157,814
At 31 May 2024
10,375
54,890
66,051
1,562
132,878
Amounts falling due within one year
Trade debtors
202,429
236,372
Industrial Powder and Paint Services Limited
Notes to the Accounts
for the year ended 31 May 2025
7
Creditors: amounts falling due within one year
2025
2024
Obligations under finance leases and hire purchase contracts
10,052
23,078
Trade creditors
402,592
344,994
Taxes and social security
27,105
14,244
Loans from directors
42,038
101,174
8
Average number of employees
During the year the average number of employees was 10 (2024: 10).