Custom Wytelyne Powder Coating Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02994947 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CUSTOM WYTELYNE POWDER COATING LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

C I M Barratt

D Fisk

REGISTERED OFFICE:

2nd Floor

Medway Bridge House

1 - 8 Fairmeadow

Maidstone

Kent

ME14 1JP

REGISTERED NUMBER:

02994947 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

2nd Floor

Medway Bridge House

1-8 Fairmeadow

Maidstone

Kent

ME14 1JP

FIXED ASSETS

Intangible assets

4

1

Tangible assets

5

84,063

85,818

84,064

85,819

CURRENT ASSETS

Stocks

34,430

40,087

Debtors

6

199,965

282,861

Cash in hand

51,148

83,445

285,543

406,393

CREDITORS

Amounts falling due within one year

7

129,945

149,119

NET CURRENT ASSETS

155,598

257,274

TOTAL ASSETS LESS CURRENT
LIABILITIES

239,662

343,093

CREDITORS

Amounts falling due after more than one year

8

-

(5,000

)

PROVISIONS FOR LIABILITIES

(8,550

)

(21,450

)

NET ASSETS

231,112

316,643

CAPITAL AND RESERVES

Called up share capital

184

Capital redemption reserve

116

Retained earnings

230,812

316,343

231,112

316,643

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

C I M Barratt - Director

1.	STATUTORY INFORMATION

Custom Wytelyne 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.

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 fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, and it is probable that future economic benefits will flow to the entity.

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.

Short leasehold

-

over the life of the lease

Plant and machinery

-

15% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on 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

The tax expense represents the sum of the tax currently payable or receivable and deferred tax.

Current tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered 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 statement of financial position 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 acquired under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit & loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Pensions

Contributions to defined contribution plans are expensed in the period to which they relate.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price.

Going concern

Accounting standards requires the directors to consider the appropriateness of the going concern basis when preparing the financial statements. The directors confirm that they consider that the going concern basis remains appropriate. The directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future. The directors believe this to be the case as the company has sufficient cash and reserves to ensure that the company can meet its liabilities as they fall due over the next 12 months. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

Cost

At 1 January 2024

and 31 December 2024

1

Net book value

At 31 December 2024

1

At 31 December 2023

1

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

Cost

At 1 January 2024

7,856

488,652

496,508

Additions

-

33,565

At 31 December 2024

7,856

522,217

530,073

Depreciation

At 1 January 2024

7,001

403,689

410,690

Charge for year

855

34,465

35,320

At 31 December 2024

7,856

438,154

446,010

Net book value

At 31 December 2024

-

84,063

At 31 December 2023

855

84,963

85,818

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

123,974

265,195

Amounts owed by group undertakings

51,720

-

Other debtors

24,271

17,666

199,965

282,861

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

38,813

21,419

Amounts owed to group undertakings

8,000

-

Taxation and social security

33,365

66,218

Other creditors

49,767

61,482

129,945

149,119

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Other creditors

-

5,000

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.