D F Coatings Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07580937

D F Coatings Ltd

Filleted Unaudited Financial Statements

31 March 2025

D F Coatings Ltd

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	5	1,000	1,000
Tangible assets	6	129,631	109,942
		---------	---------
		130,631	110,942

Current assets

Stocks		6,250	35,150
Debtors	7	159,001	130,031
Cash at bank and in hand		88,812	40,836
		---------	---------
		254,063	206,017

Creditors: amounts falling due within one year	8	90,814	90,460
		---------	---------
Net current assets		163,249	115,557
		---------	---------
Total assets less current liabilities		293,880	226,499

Creditors: amounts falling due after more than one year	9	2,500	16,000
		---------	---------
Net assets		291,380	210,499
		---------	---------

Capital and reserves

Called up share capital	100	100
Revaluation reserve	36,360	47,044
Profit and loss account	254,920	163,355
	---------	---------
Shareholders funds	291,380	210,499
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

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.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

D F Coatings Ltd

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 12 December 2025 , and are signed on behalf of the board by:

Mr D J Figgins
Director

Company registration number: 07580937

D F Coatings Ltd

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 230 Shirley Road, Southampton, Hampshire, SO15 3HR, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property	-	15% straight line
Plant and machinery	-	20% reducing balance
Fixtures and fittings	-	20% reducing balance
Motor vehicles	-	20% reducing balance

	Office equipment	-	20% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 11 (2024: 11 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	1,000
	-------
Amortisation
At 1 April 2024 and 31 March 2025	–
	-------
Carrying amount
At 31 March 2025	1,000
	-------
At 31 March 2024	1,000
	-------

6. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Office equipment	Total
	£	£	£	£	£	£
Cost
At 1 Apr 2024	24,382	199,143	23,797	15,919	5,115	268,356
Additions	–	23,980	–	24,269	983	49,232
Disposals	( 24,382)	( 8,384)	–	–	( 5,115)	( 37,881)
	--------	---------	--------	--------	-------	---------
At 31 Mar 2025	–	214,739	23,797	40,188	983	279,707
	--------	---------	--------	--------	-------	---------
Depreciation
At 1 Apr 2024	24,382	104,625	14,658	9,634	5,115	158,414
Charge for the year	–	20,130	4,759	1,257	197	26,343
Disposals	( 24,382)	( 5,184)	–	–	( 5,115)	( 34,681)
	--------	---------	--------	--------	-------	---------
At 31 Mar 2025	–	119,571	19,417	10,891	197	150,076
	--------	---------	--------	--------	-------	---------
Carrying amount
At 31 Mar 2025	–	95,168	4,380	29,297	786	129,631
	--------	---------	--------	--------	-------	---------
At 31 Mar 2024	–	94,518	9,139	6,285	–	109,942
	--------	---------	--------	--------	-------	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	145,361	116,327
Other debtors	13,640	13,704
	---------	---------
	159,001	130,031
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	16,210	12,409
Corporation tax	13,718	6,951
Social security and other taxes	26,006	30,000
Other creditors	24,880	31,100
	--------	--------
	90,814	90,460
	--------	--------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	2,500	12,500
Other creditors	–	3,500
	-------	--------
	2,500	16,000
	-------	--------

During July 2020 the company took out a bounce back loan of £50,000 which is repayable over a period of 5 years.

10. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr D J Figgins	( 1,000)	500	( 500)
	-------	----	----

	2024
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr D J Figgins	( 2,000)	1,000	( 1,000)
	-------	-------	-------