REGISTERED NUMBER: 05365342 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2025

for

Industrial Protective Paints Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J M Galley

Mrs L M Galley

M J Galley

SECRETARY:

Mrs L M Galley

REGISTERED OFFICE:

Moorville Cottage Farm

Foxearth

Cellarhead

Stoke on Trent

Staffordshire

ST9 9NX

REGISTERED NUMBER:

05365342 (England and Wales)

ACCOUNTANTS:

Paterson Brodie Limited

Chartered Certified Accountants

Cliveden Chambers

Cliveden Place

Longton

Stoke-on-Trent

Staffordshire

ST3 4JB

FIXED ASSETS

Tangible assets

4

303,678

24,894

CURRENT ASSETS

Stocks

80,000

80,000

Debtors

5

139,100

90,327

Cash at bank

480,632

578,385

699,732

748,712

CREDITORS

Amounts falling due within one year

6

663,995

509,767

NET CURRENT ASSETS

35,737

238,945

TOTAL ASSETS LESS CURRENT LIABILITIES

339,415

263,839

PROVISIONS FOR LIABILITIES

7

3,325

3,149

NET ASSETS

336,090

260,690

CAPITAL AND RESERVES

Called up share capital

8

90

90

Retained earnings

9

336,000

260,600

SHAREHOLDERS' FUNDS

336,090

260,690

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

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 18 September 2025 and were signed on its behalf by:

M J Galley - Director

1.	STATUTORY INFORMATION

Industrial Protective Paints 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.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

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 10 (2024 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 March 2024

-

20,496

43,488

Additions

280,132

-

-

At 28 February 2025

280,132

20,496

43,488

DEPRECIATION

At 1 March 2024

-

8,198

37,148

Charge for year

-

2,050

1,268

At 28 February 2025

-

10,248

38,416

NET BOOK VALUE

At 28 February 2025

280,132

10,248

5,072

At 29 February 2024

-

12,298

6,340

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 March 2024

22,458

7,411

93,853

Additions

-

7,567

287,699

At 28 February 2025

22,458

14,978

381,552

DEPRECIATION

At 1 March 2024

20,038

3,575

68,959

Charge for year

605

4,992

8,915

At 28 February 2025

20,643

8,567

77,874

NET BOOK VALUE

At 28 February 2025

1,815

6,411

303,678

At 29 February 2024

2,420

3,836

24,894

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade debtors

122,758

77,651

Other debtors

923

1,710

Prepayments

15,419

10,966

139,100

90,327

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade creditors

261,813

293,390

Tax

60,489

15,053

Social security and other taxes

6,764

4,387

VAT

24,612

13,422

Other creditors

304,089

80,372

Directors' current accounts

911

18,137

Accrued expenses

5,317

85,006

663,995

509,767

7.	PROVISIONS FOR LIABILITIES

28.2.25

29.2.24

£

£

Deferred tax

Accelerated capital allowances

3,325

3,149

Deferred

tax

£

Balance at 1 March 2024

3,149

Provided during year

176

Balance at 28 February 2025

3,325

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.25

29.2.24

value:

£

£

3

Ordinary

£1

90

90

9.

RESERVES

Retained

earnings

£

At 1 March 2024

260,600

Profit for the year

180,400

Dividends

(105,000

)

At 28 February 2025

336,000