1 June 2024 false No description of principal activity Taxfiler 2024.6 02493891business:PrivateLimitedCompanyLtd2024-06-012025-05-31 024938912024-05-31 024938912024-06-012025-05-31 02493891business:AuditExemptWithAccountantsReport2024-06-012025-05-31 02493891business:FilletedAccounts2024-06-012025-05-31 024938912025-05-31 02493891business:Director12024-06-012025-05-31 02493891business:Director22024-06-012025-05-31 02493891business:Director32024-06-012025-05-31 02493891business:RegisteredOffice2024-06-012025-05-31 024938912024-05-31 02493891core:WithinOneYear2025-05-31 02493891core:WithinOneYear2024-05-31 02493891core:ShareCapitalcore:PreviouslyStatedAmount2025-05-31 02493891core:ShareCapitalcore:PreviouslyStatedAmount2024-05-31 02493891core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2025-05-31 02493891core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-05-31 02493891core:PreviouslyStatedAmount2025-05-31 02493891core:PreviouslyStatedAmount2024-05-31 02493891business:SmallEntities2024-06-012025-05-31 02493891countries:EnglandWales2024-06-012025-05-31 02493891core:PlantMachinery2024-06-012025-05-31 02493891core:MotorVehicles2024-06-012025-05-31 02493891core:FurnitureFittings2024-06-012025-05-31 02493891core:ComputerEquipment2024-06-012025-05-31 02493891core:Goodwill2024-05-31 02493891core:Goodwill2025-05-31 02493891core:Goodwill2024-06-012025-05-31 02493891core:PlantMachinery2024-05-31 02493891core:MotorVehicles2024-05-31 02493891core:FurnitureFittings2024-05-31 02493891core:ComputerEquipment2024-05-31 02493891core:PlantMachinery2025-05-31 02493891core:MotorVehicles2025-05-31 02493891core:FurnitureFittings2025-05-31 02493891core:ComputerEquipment2025-05-31 024938912023-06-012024-05-31 iso4217:GBP xbrli:pure
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
Page
- 2 -
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
- 3 -
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
- 4 -
Industrial Powder and Paint Services Limited Statement of financial position as at 31 May 2025
2025 
2024 
Notes
£ 
£ 
Fixed assets
Intangible assets
14,787 
29,574 
Tangible assets
157,814 
132,878 
172,601 
162,452 
Current assets
Inventories
446,334 
329,868 
Debtors
202,429 
236,372 
Cash at bank and in hand
592,618 
594,086 
1,241,381 
1,160,326 
Creditors: amounts falling due within one year
(514,981)
(518,245)
Net current assets
726,400 
642,081 
Net assets
899,001 
804,533 
Capital and reserves
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
- 5 -
Industrial Powder and Paint Services Limited Notes to the Accounts for the year ended 31 May 2025
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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 taxation
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.
Pension costs
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.
- 6 -
Industrial Powder and Paint Services Limited Notes to the Accounts for the year ended 31 May 2025
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 June 2024
44,362 
At 31 May 2025
44,362 
Amortisation
At 1 June 2024
14,788 
Charge for the year
14,787 
At 31 May 2025
29,575 
Net book value
At 31 May 2025
14,787 
At 31 May 2024
29,574 
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 
Depreciation
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 
Net book value
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 
6
Debtors
2025 
2024 
£ 
£ 
Amounts falling due within one year
Trade debtors
202,429 
236,372 
- 7 -
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 
£ 
£ 
VAT
32,694 
34,755 
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 
Other creditors
500 
- 
Loans from directors
42,038 
101,174 
514,981 
518,245 
8
Average number of employees
During the year the average number of employees was 10 (2024: 10).
- 8 -