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Registered number: 09477180
S&P SHOT BLASTING & POWDER COATING LTD
Unaudited Financial Statements
For The Year Ended 31 March 2025
QUALITY BUSINESS SERVICES (YORKSHIRE) LIMITED
Association of Accounting Technicians
20 HIGH STREET
QUEENSBURY
BRADFORD
WEST YORKSHIRE
BD13 2PA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09477180
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 64,726 85,133
64,726 85,133
CURRENT ASSETS
Stocks 5 5,686 9,604
Debtors 6 197,605 188,628
Cash at bank and in hand 21,697 34,838
224,988 233,070
Creditors: Amounts Falling Due Within One Year 7 (146,007 ) (142,373 )
NET CURRENT ASSETS (LIABILITIES) 78,981 90,697
TOTAL ASSETS LESS CURRENT LIABILITIES 143,707 175,830
Creditors: Amounts Falling Due After More Than One Year 8 (6,177 ) (16,734 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (12,298 ) (16,175 )
NET ASSETS 125,232 142,921
CAPITAL AND RESERVES
Called up share capital 10 200 200
Profit and Loss Account 125,032 142,721
SHAREHOLDERS' FUNDS 125,232 142,921
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs BEVERLEY JENKINSON
Director
Mr PETER JENKINSON
Director
Mr MICHAEL HORROCKS
Director
28 July 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
S&P Shot Blasting & Powder Coating Ltd, Registered number 09477180 is a limited by shares company incorporated in England & Wales. The Registered Office is 1 Shelf Mills, Wade House Road, Halifax, West Yorkshire, HX3 7BJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under 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 contracts 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 the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2025 2024
Office and administration 2 2
Manufacturing 11 13
13 15
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2024 79,608 118,825 7,014 1,329 206,776
Additions 416 - 750 - 1,166
As at 31 March 2025 80,024 118,825 7,764 1,329 207,942
...CONTINUED
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Depreciation
As at 1 April 2024 49,414 65,806 5,256 1,167 121,643
Provided during the period 7,652 13,254 627 40 21,573
As at 31 March 2025 57,066 79,060 5,883 1,207 143,216
Net Book Value
As at 31 March 2025 22,958 39,765 1,881 122 64,726
As at 1 April 2024 30,194 53,019 1,758 162 85,133
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2025 2024
£ £
Motor Vehicles 16,875 32,464
5. Stocks
2025 2024
£ £
Stock 5,686 9,604
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 167,080 158,598
Prepayments and accrued income 30,525 30,030
197,605 188,628
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 5,000 10,372
Trade creditors 57,077 63,338
Bank loans and overdrafts 17,466 5,143
Corporation tax 24,916 24,646
Other taxes and social security 6,675 9,593
VAT 30,397 25,240
Accruals and deferred income 4,063 3,826
Directors' loan accounts 413 215
146,007 142,373
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8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 2,917 7,917
Bank loans 3,260 8,817
6,177 16,734
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,000 10,372
Later than one year and not later than five years 2,917 7,917
7,917 18,289
7,917 18,289
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 200 200
11. Dividends
2025 2024
£ £
On equity shares:
Interim dividend paid 84,000 109,000
12. Ultimate Controlling Party
The company's ultimate controlling parties are Mr Peter Jenkinson and Mrs Beverley Jenkinson by virtue of their ownership of 100% of the ordinary share capital issued in the company.
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