Clydeside Powder Coatings Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC481522 (Scotland)

Unaudited Financial Statements for the Year Ended 31 July 2025

for

Clydeside Powder Coatings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Meechan

J A Meechan

REGISTERED OFFICE:

C/O McLay, McAlister & McGibbon LLP

145 St Vincent Street

Glasgow

G2 5JF

REGISTERED NUMBER:

SC481522 (Scotland)

ACCOUNTANTS:

McLay McAlister & McGibbon LLP

Chartered Accountants

145 St Vincent Street

Glasgow

G2 5JF

FIXED ASSETS

Tangible assets

4

18,636

12,298

CURRENT ASSETS

Stocks

20,281

14,332

Debtors

5

58,954

86,580

Cash at bank and in hand

27,746

34,242

106,981

135,154

CREDITORS

Amounts falling due within one year

6

(151,012

)

(182,504

)

NET CURRENT LIABILITIES

(44,031

)

(47,350

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(25,395

)

(35,052

)

CREDITORS

Amounts falling due after more than one
year

7

(14,513

)

-

NET LIABILITIES

(39,908

)

(35,052

)

CAPITAL AND RESERVES

Called up share capital

9

1

Retained earnings

10

(39,909

)

(35,053

)

SHAREHOLDERS' FUNDS

(39,908

)

(35,052

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 12 December 2025 and were signed on its behalf by:

A Meechan - Director

1.	STATUTORY INFORMATION

Clydeside Powder Coatings Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover

Turnover represents the gross amount of receipts in the year for services provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

The company's policy is to review the remaining useful lives and residual value of all tangible assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

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

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.

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

Plant and

Motor

machinery

vehicles

Totals

£

COST

At 1 August 2024

49,289

11,591

60,880

Additions

-

12,499

Disposals

-

(11,591

)

(11,591

)

At 31 July 2025

49,289

12,499

61,788

DEPRECIATION

At 1 August 2024

38,329

10,253

48,582

Charge for year

2,740

3,151

5,891

Eliminated on disposal

-

(11,321

)

(11,321

)

At 31 July 2025

41,069

2,083

43,152

NET BOOK VALUE

At 31 July 2025

8,220

10,416

18,636

At 31 July 2024

10,960

1,338

12,298

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

Motor

vehicles

£

COST

Additions

12,499

At 31 July 2025

12,499

DEPRECIATION

Charge for year

3,151

At 31 July 2025

3,151

NET BOOK VALUE

At 31 July 2025

9,348

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

Trade debtors

58,954

86,580

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.25

31.7.24

£

Hire purchase contracts

5,661

-

Trade creditors

29,329

39,361

Tax

-

3,631

Social security and other taxes

43,289

54,698

VAT

19,679

40,853

Directors' current accounts

13,202

9,002

Accrued expenses

39,852

34,959

151,012

182,504

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.7.25

31.7.24

£

Hire purchase contracts

14,513

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.25

31.7.24

£

Hire purchase contracts

20,174

-

Hire purchase liabilities are secured over the assets to which they relate.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.25

31.7.24

value:

£

1

Ordinary

£1

1

10.

RESERVES

Retained

earnings

£

At 1 August 2024

(35,053

)

Deficit for the year

(4,856

)

At 31 July 2025

(39,909

)

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors due within one year is an amount due to the director of £13,202 (2024: £9,001).

This loan is advanced to the company interest free and has no fixed terms for repayment.