REGISTERED NUMBER: 15309444 (England and Wales)

ORIGIN POWDER COATING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Ginger

N Ginger

O J Ginger

Mrs V Brocklesby

G Walker

DJ Baker

AL Ginger

REGISTERED OFFICE:

Stuart House

Coronation Road

Cressex Business Park

High Wycombe

Buckinghamshire

HP12 3TA

REGISTERED NUMBER:

15309444 (England and Wales)

ACCOUNTANTS:

Jones Hunt & Keelings

Chartered Certified Accountants and

Chartered Tax Advisers

Broad House

1 The Broadway

Old Hatfield

Hertfordshire

AL9 5BG

FIXED ASSETS

Tangible assets

4

392,507

3,444,287

CURRENT ASSETS

Stocks

496,382

-

Debtors

5

241,018

981,886

Cash at bank and in hand

38,084

200

775,484

982,086

CREDITORS

Amounts falling due within one year

6

2,656,594

5,061,896

NET CURRENT LIABILITIES

(1,881,110

)

(4,079,810

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,488,603

)

(635,523

)

CREDITORS

Amounts falling due after more than one year

7

-

(85,692

)

PROVISIONS FOR LIABILITIES

(55,026

)

-

NET LIABILITIES

(1,543,629

)

(721,215

)

CAPITAL AND RESERVES

Called up share capital

10

200

200

Retained earnings

(1,543,829

)

(721,415

)

(1,543,629

)

(721,215

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

Mrs V Brocklesby - Director

1.	STATUTORY INFORMATION

Origin Powder Coating 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Significant judgements and estimates

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. These estimates and judgements are made in the light of historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstance. However, actual results may differ from those anticipated. In the opinion of the directors, there are no significant judgements or estimates made during the period.

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 the cost less estimated residual value of 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 term of the lease

Plant and machinery

-

at varying rates

Fixtures and fittings

-

10% on cost

Computer equipment

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets:

Basic financial assets, which include debtors, are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts, discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Other financial assets, including investments in equity instruments, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities:

Basic financial liabilities, including trade and other payables, and bank loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual

obligation is discharged, cancelled or expires.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 5 (2023 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

365,950

3,037,200

34,897

6,240

3,444,287

Additions

86,877

695,182

12,968

37,114

832,141

Disposals

(2,500

)

(3,732,382

)

(47,865

)

(43,354

)

(3,826,101

)

At 31 December 2024

450,327

-

-

-

450,327

DEPRECIATION

Charge for year

57,820

323,737

4,627

9,873

396,057

Eliminated on disposal

-

(323,737

)

(4,627

)

(9,873

)

(338,237

)

At 31 December 2024

57,820

-

-

-

57,820

NET BOOK VALUE

At 31 December 2024

392,507

-

-

-

392,507

At 31 December 2023

365,950

3,037,200

34,897

6,240

3,444,287

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

Plant and

machinery

£

COST

At 1 January 2024

121,549

Additions

285,790

Disposals

(3,098,233

)

Transfer to ownership

2,690,894

At 31 December 2024

-

DEPRECIATION

Charge for year

308,255

Eliminated on disposal

(308,255

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

121,549

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

500

-

VAT

33,947

851,158

Prepayments and accrued income

206,571

130,728

241,018

981,886

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts (see note 8)

-

21,879

Trade creditors

14,545

4,999,377

Social security and other taxes

28,906

-

Other creditors

2,498,205

-

Accrued expenses

114,938

40,640

2,656,594

5,061,896

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts (see note 8)

-

85,692

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

-

21,879

Between one and five years

-

85,692

-

107,571

Non-cancellable

operating leases

2024

2023

£

£

Within one year

550,265

550,265

Between one and five years

2,201,060

2,201,060

In more than five years

641,976

1,192,241

3,393,301

3,943,566

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

-

107,571

Hire purchase obligations are secured on the assets they finance.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

Value:

£

£

40

Ordinary 'A'

£1

40

40

30

Ordinary 'B'

£1

30

30

30

Ordinary 'C'

£1

30

30

24

Ordinary 'D'

£1

24

24

25

Ordinary 'E'

£1

25

25

18

Ordinary 'F'

£1

18

18

18

Ordinary 'G'

£1

18

18

15

Ordinary 'H'

£1

15

15

200

200

The rights attaching to each class of shares are identical to, and rank pari passu with, shares of all other classes in respect of distributions and votes. Dividends may be declared in respect of particular classes