REGISTERED NUMBER: 02901157

EURO QUALITY COATINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 AUGUST 2023 TO 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S F Allison

P Postle

SECRETARY:

P G Hannah

REGISTERED OFFICE:

Wentloog Corporate Park

Wentloog

CARDIFF

County of Cardiff

CF3 2ER

REGISTERED NUMBER:

02901157

ACCOUNTANTS:

MHA (trading name of MHA Advisory Ltd)

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

FIXED ASSETS

Tangible assets

4

301,753

329,751

CURRENT ASSETS

Stocks

119,513

180,734

Debtors

5

729,315

1,113,495

848,828

1,294,229

CREDITORS

Amounts falling due within one year

6

(871,811

)

(829,591

)

NET CURRENT (LIABILITIES)/ASSETS

(22,983

)

464,638

TOTAL ASSETS LESS CURRENT LIABILITIES

278,770

794,389

CREDITORS

Amounts falling due after more than one year

7

(24,904

)

(59,317

)

NET ASSETS

253,866

735,072

CAPITAL AND RESERVES

Called up share capital

10

19,950

19,950

Capital redemption reserve

1,050

1,050

Retained earnings

232,866

714,072

SHAREHOLDERS' FUNDS

253,866

735,072

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

The members have not required the company to obtain an audit of its financial statements for the period 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 23 September 2025 and were signed on its behalf by:

P Postle - Director

1.	STATUTORY INFORMATION

Euro Quality 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.

The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

CHANGE IN ACCOUNTING PERIOD

The accounting reference date has been changed from 31 July to 31 December for commercial reasons. The period under review covers 17 months so may not be entirely comparable with the year ended 31 July 2023.

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.

There have been no material departures from the Financial Reporting Standard 102 1A.

Preparation of consolidated financial statements

The financial statements contain information about Euro Quality Coatings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at rates calculated to write off fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & machinery

10% - 33% Straight line

Fixtures & fittings

33% - 50% Straight line

Motor vehicles

25% Straight line

Stocks

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

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.

Taxation

Taxation for the period 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 period 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 42 (2023 - 47 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

Fittings

vehicles

Totals

£

£

£

£

COST

At 1 August 2023

1,532,646

187,495

73,522

1,793,663

Additions

154,435

23,933

-

178,368

Disposals

(276,874

)

(20,552

)

(20,500

)

(317,926

)

At 31 December 2024

1,410,207

190,876

53,022

1,654,105

DEPRECIATION

At 1 August 2023

1,284,464

150,111

29,337

1,463,912

Charge for period

154,121

33,467

18,778

206,366

Eliminated on disposal

(276,874

)

(20,552

)

(20,500

)

(317,926

)

At 31 December 2024

1,161,711

163,026

27,615

1,352,352

NET BOOK VALUE

At 31 December 2024

248,496

27,850

25,407

301,753

At 31 July 2023

248,182

37,384

44,185

329,751

5.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

574,643

731,753

Loans to related parties

50,000

230,500

Prepayments and accrued income

104,672

98,133

729,315

1,060,386

Amounts falling due after more than one year:

Deferred tax asset

-

53,109

Aggregate amounts

729,315

1,113,495

The deferred tax asset has arisen due to fixed asset timing differences and trading losses carried.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 8)

154,864

95,040

Hire purchase contracts

14,903

38,832

Trade creditors

526,506

294,590

Social security and other taxes

20,367

36,264

VAT

49,643

93,299

Other creditors

17,159

23,208

Accruals and deferred income

88,369

248,358

871,811

829,591

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 8)

10,000

20,000

Hire purchase contracts

14,904

39,317

24,904

59,317

8.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

149,031

85,040

Bank loan

5,833

10,000

154,864

95,040

Amounts falling due between one and two years:

Bank loan

10,000

20,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank overdrafts

149,031

85,040

Hire purchase contracts

29,807

78,149

178,838

163,189

The bank overdraft is secured by a fixed and floating charge over the assets of the company.

Amounts owed in respect of hire purchase contracts are secured on the assets to which they relate.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

19,950

Ordinary

£1

19,950

19,950

11.	RELATED PARTY DISCLOSURES

The related company loan shown in note 5 is interest free.

12.	POST BALANCE SHEET EVENTS

After the reporting period but before the financial statements were issued, Euro Quality Coatings Limited sold their assets to Eurobond Doors Limited, a related company. The employees of Euro Quality Costings were also transferred. Euro Quality Coatings Ltd will use Eurobond Doors Limited to fulfill sales to its customers.