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REGISTERED NUMBER: 07904729 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

SPECIALIST PAINTING GROUP LIMITED

SPECIALIST PAINTING GROUP LIMITED (REGISTERED NUMBER: 07904729)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPECIALIST PAINTING GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2025







DIRECTORS: A J Fallows
B J Fallows
D J Fallows
Mrs C J Fallows





REGISTERED OFFICE: 9 Commerce Road
Lynchwood
Peterborough
Cambridgeshire
PE2 6LR





REGISTERED NUMBER: 07904729 (England and Wales)





ACCOUNTANTS: GreenStones Limited
9 Commerce Road
Lynchwood
Peterborough
Cambridgeshire
PE2 6LR

SPECIALIST PAINTING GROUP LIMITED (REGISTERED NUMBER: 07904729)

BALANCE SHEET
31 JANUARY 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 101,078 118,727
Investments 5 100 100
101,178 118,827

CURRENT ASSETS
Stocks 1,200 1,200
Debtors 6 706,089 627,979
Cash at bank 35,018 18,129
742,307 647,308
CREDITORS
Amounts falling due within one
year

7

777,410

499,625
NET CURRENT (LIABILITIES)/ASSETS (35,103 ) 147,683
TOTAL ASSETS LESS CURRENT
LIABILITIES

66,075

266,510

CREDITORS
Amounts falling due after more
than one year

8

(4,409

)

(14,806

)

PROVISIONS FOR LIABILITIES (25,156 ) (29,535 )
NET ASSETS 36,510 222,169

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 35,510 221,169
SHAREHOLDERS' FUNDS 36,510 222,169

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SPECIALIST PAINTING GROUP LIMITED (REGISTERED NUMBER: 07904729)

BALANCE SHEET - continued
31 JANUARY 2025


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 July 2025 and were signed on its behalf by:





B J Fallows - Director


SPECIALIST PAINTING GROUP LIMITED (REGISTERED NUMBER: 07904729)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1. STATUTORY INFORMATION

Specialist Painting Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold property - 7 year straight line method
Plant & Machinery- 25% reducing balance
Fixtures & Fittings - 15% reducing balance
Computer Equipment - 33.33% reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


SPECIALIST PAINTING GROUP LIMITED (REGISTERED NUMBER: 07904729)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 February 2024 27,018 79,410 154,610 9,210 270,248
Additions - 1,847 1,215 - 3,062
At 31 January 2025 27,018 81,257 155,825 9,210 273,310
DEPRECIATION
At 1 February 2024 27,018 63,350 53,167 7,986 151,521
Charge for year - 4,464 15,454 793 20,711
At 31 January 2025 27,018 67,814 68,621 8,779 172,232
NET BOOK VALUE
At 31 January 2025 - 13,443 87,204 431 101,078
At 31 January 2024 - 16,060 101,443 1,224 118,727

SPECIALIST PAINTING GROUP LIMITED (REGISTERED NUMBER: 07904729)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakin
£   
COST
At 1 February 2024
and 31 January 2025 100
NET BOOK VALUE
At 31 January 2025 100
At 31 January 2024 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 582,983 261,163
Other debtors 123,106 366,816
706,089 627,979

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 13,897 10,140
Trade creditors 428,772 280,137
Taxation and social security 65,126 23,461
Other creditors 269,615 185,887
777,410 499,625

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2025 2024
£    £   
Bank loans 4,409 14,806

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2025 and 31 January 2024:

2025 2024
£    £   
A J Fallows
Balance outstanding at start of year (13,992 ) (28,948 )
Amounts advanced 40,861 67,068
Amounts repaid (24,740 ) (52,112 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,129 (13,992 )

SPECIALIST PAINTING GROUP LIMITED (REGISTERED NUMBER: 07904729)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

B J Fallows
Balance outstanding at start of year (29,841 ) (38,942 )
Amounts advanced 105,893 105,248
Amounts repaid (81,847 ) (96,147 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,795 ) (29,841 )

D J Fallows
Balance outstanding at start of year (13,131 ) (15,720 )
Amounts advanced 36,053 40,639
Amounts repaid (24,610 ) (38,050 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,688 ) (13,131 )

Mrs C J Fallows
Balance outstanding at start of year (26,435 ) (10,759 )
Amounts advanced 44,933 82,707
Amounts repaid (31,537 ) (98,383 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (13,039 ) (26,435 )

These loans are interest free and unsecured.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is B J Fallows.