REGISTERED NUMBER: 02536276 (England and Wales)

L.V.H. COATINGS LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr P I Hope

Mr I Hope

REGISTERED OFFICE:

Wallace House

20 Birmingham Road

Walsall

West Midlands

WS1 2LT

REGISTERED NUMBER:

02536276 (England and Wales)

AUDITORS:

Wallace Crooke

Chartered Accountants

& Registered Auditors

Wallace House

20 Birmingham Road

Walsall

West Midlands

WS1 2LT

FIXED ASSETS

Tangible assets

4

80,768

87,299

Investments

5

258,143

215,929

338,911

303,228

CURRENT ASSETS

Stocks

380,194

400,159

Debtors

6

438,853

426,756

Cash at bank

277,616

212,647

1,096,663

1,039,562

CREDITORS

Amounts falling due within one year

7

93,537

69,235

NET CURRENT ASSETS

1,003,126

970,327

TOTAL ASSETS LESS CURRENT LIABILITIES

1,342,037

1,273,555

CREDITORS

Amounts falling due after more than one year

8

-

(7,860

)

PROVISIONS FOR LIABILITIES

(27,294

)

(21,620

)

NET ASSETS

1,314,743

1,244,075

CAPITAL AND RESERVES

Called up share capital

11

80,800

80,800

Capital redemption reserve

12

12,762

12,762

Retained earnings

12

1,221,181

1,150,513

SHAREHOLDERS' FUNDS

1,314,743

1,244,075

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 16 September 2025 and were signed on its behalf by:

Mr P I Hope - Director

1.	STATUTORY INFORMATION

L.V.H. Coatings 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 company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

Over the lease term

Plant and machinery

-

10% on cost

Laboratory equipment

-

15% on cost

Motor vehicles

-

25% on reducing balance

Fixtures, fitting & equipment

-

33% on cost and 10% on cost

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowances 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.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Assets obtained under hire purchase contracts or finance lease are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over the estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Investments

Investments in equity shares which are publicly traded or where the fair value can be reliably measured are initially measured at their fair value, with changes in fair value recognised in the income statement. Investments in equity shares where fair value can not be reliably measured are measured at cost less impairment.

Pensions 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 11 (2023 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Laboratory

property

machinery

equipment

£

£

£

COST

At 1 January 2024

106,617

210,112

206,900

Additions

11,655

1,152

659

At 31 December 2024

118,272

211,264

207,559

DEPRECIATION

At 1 January 2024

105,604

194,304

200,271

Charge for year

367

7,052

1,106

At 31 December 2024

105,971

201,356

201,377

NET BOOK VALUE

At 31 December 2024

12,301

9,908

6,182

At 31 December 2023

1,013

15,808

6,629

Fixtures,

Motor

fitting &

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

99,464

145,797

768,890

Additions

-

4,357

17,823

At 31 December 2024

99,464

150,154

786,713

DEPRECIATION

At 1 January 2024

47,088

134,324

681,591

Charge for year

13,094

2,735

24,354

At 31 December 2024

60,182

137,059

705,945

NET BOOK VALUE

At 31 December 2024

39,282

13,095

80,768

At 31 December 2023

52,376

11,473

87,299

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

29,409

Reclassification/transfer

10,340

At 31 December 2024

39,749

DEPRECIATION

At 1 January 2024

17,261

Charge for year

3,037

Reclassification/transfer

(3,529

)

At 31 December 2024

16,769

NET BOOK VALUE

At 31 December 2024

22,980

At 31 December 2023

12,148

5.	FIXED ASSET INVESTMENTS

Listed

investments

£

COST OR VALUATION

At 1 January 2024

215,929

Additions

31,648

Fair value adjustment

10,566

At 31 December 2024

258,143

NET BOOK VALUE

At 31 December 2024

258,143

At 31 December 2023

215,929

Cost or valuation at 31 December 2024 is represented by:

Listed

investments

£

Valuation in 2017

(45,802

)

Valuation in 2018

35,563

Valuation in 2019

17,918

Valuation in 2020

(18,979

)

Valuation in 2021

20,485

Valuation in 2022

(41,289

)

Valuation in 2023

10,513

Valuation in 2024

10,566

Cost

269,168

258,143

If listed investments had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

269,168

237,520

Listed investments were valued on an open market basis on 31 December 2024 by Halifax Investment Manager .

Market value of listed investments at 31 December 2024 - £258,143 (2023 - £215,929)

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

315,296

346,972

Other debtors

5,226

5,122

Directors' current accounts

380

759

VAT

39,555

13,548

Prepayments and accrued income

78,396

60,355

438,853

426,756

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts (see note 9)

7,860

6,615

Trade creditors

40,772

36,836

Tax

21,972

-

Other creditors

2,369

2,955

Accruals and deferred income

20,564

22,829

93,537

69,235

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts (see note 9)

-

7,860

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2024

2023

£

£

Net obligations repayable:

Within one year

7,860

6,615

Between one and five years

-

7,860

7,860

14,475

Non-cancellable

operating leases

2024

2023

£

£

Within one year

67,688

2,500

Between one and five years

310,764

8,512

In more than five years

80,000

-

458,452

11,012

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

7,860

14,475

The debt is secured against the tangible fixed assets for which the hire purchase arrangements have been agreed.

There is a specific equitable charge over all freehold and leasehold properties and/or the proceeds of sale thereof fixed and floating charges over undertaking and all property and assets present and future including goodwill book debts and the benefits of any licences.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

80,000

Ordinary

£1

80,000

80,000

300

Ordinary A

£1

300

300

500

Ordinary B

£1

500

500

80,800

80,800

12.

RESERVES

Capital redemption reserve

Capital redemption reserve includes amounts which have been transferred following the redemption of the company's own shares. No distributions are made from this reserve.

Retained earnings

Retained earnings includes all current and prior period retained profits and losses, less distributions to shareholders.

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Martin Jones FCA (Senior Statutory Auditor)

for and on behalf of Wallace Crooke

14.	PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £29,047 (2023: £27,239). Contributions totalling £2,748 (2023: £2,955) were payable to the fund at the balance sheet date and are included in creditors.

15.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.