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Registered number: 08027239
| FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 30 JUNE 2025
| TEMA PROTECTIVE COATINGS LIMITED
TEMA PROTECTIVE COATINGS LIMITED REGISTERED NUMBER:08027239 |  |
BALANCE SHEET AS AT 30 JUNE 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 427,794 |  | 327,162
Investments | 5 |  | 49,962 |  | -
|  |  | 477,756 |  | 327,162
Current assets |  |  |  |  |
Stocks |  | 164,463 |  | 119,744 |
Debtors: amounts falling due within one year | 7 | 2,132,267 |  | 2,008,337 |
Cash at bank and in hand | 8 | 2,479,248 |  | 1,810,979 |
|  | 4,775,978 |  | 3,939,060 |
Creditors: amounts falling due within one year | 9 | (1,997,567) |  | (2,134,188) |
Net current assets |  |  | 2,778,411 |  | 1,804,872
Total assets less current liabilities |  |  | 3,256,167 |  | 2,132,034
Provisions for liabilities |  |  |  |  |
Deferred tax | 10 | (67,616) |  | (56,950) |
|  |  | (67,616) |  | (56,950)
Net assets |  |  | 3,188,551 |  | 2,075,084
Capital and reserves |  |  |  |  |
Called up share capital | 11 |  | 1 |  | 1
Profit and loss account |  |  | 3,188,550 |  | 2,075,083
|  |  | 3,188,551 |  | 2,075,084
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 March 2026.
Mr M Donovan
Director
Page 1
TEMA PROTECTIVE COATINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
1. | General information
Tema Protective 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. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.3 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.5 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 2
TEMA PROTECTIVE COATINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.6 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.7 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is provided on the following basis:
|  |  |  | Long-term leasehold property | - | 10% | on straight line
|  |  |  | Plant and machinery | - | 25% | on reducing balance
|  |  |  | Motor vehicles | - | 25% | on reducing balance
|  |  |  | Computer equipment | - | 25% | on reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.8 | Valuation of investments
Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period. Page 3
TEMA PROTECTIVE COATINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.9 | Work in progress
Work in progres is valued at the lower of cost and net realisable value. Net realisable value is based on selling price lless anctipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
| 2.10 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.11 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.12 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.13 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation. Increases in provisions are generally charged as an expense to profit or loss.
3. | Employees
| The average monthly number of employees, including directors, during the year was 12 (2024 - 13).
Page 4
TEMA PROTECTIVE COATINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
4. | Tangible fixed assets
|  | Long-term leasehold property | Plant and machinery | Motor vehicles
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 July 2024 | 207,083 | 237,430 | 98,391
| Additions | - | 136,625 | 65,898
| Disposals | - | - | (10,000)
| At 30 June 2025 | 207,083 | 374,055 | 154,289
| Depreciation |  |  |
| At 1 July 2024 | 53,943 | 141,124 | 27,701
| Charge for the year on owned assets | 20,708 | 38,554 | 31,745
| At 30 June 2025 | 74,651 | 179,678 | 59,446
| Net book value |  |  |
| At 30 June 2025 | 132,432 | 194,377 | 94,843
| At 30 June 2024 | 153,140 | 96,306 | 70,690
|  | Fixtures and fittings | Office equipment | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 July 2024 | 3,953 | 9,633 | 556,490
| Additions | - | 878 | 203,401
| Disposals | - | - | (10,000)
| At 30 June 2025 | 3,953 | 10,511 | 749,891
| Depreciation |  |  |
| At 1 July 2024 | 1,958 | 4,602 | 229,328
| Charge for the year on owned assets | 395 | 1,367 | 92,769
| At 30 June 2025 | 2,353 | 5,969 | 322,097
| Net book value |  |  |
| At 30 June 2025 | 1,600 | 4,542 | 427,794
| At 30 June 2024 | 1,995 | 5,031 | 327,162
Page 5
TEMA PROTECTIVE COATINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
5. | Fixed asset investments
|  | Listed investments
|  | £
| Cost or valuation |
| Additions | 49,962
| At 30 June 2025 | 49,962
6. | Fixed asset investments
|  | 2025 | 2024
|  | £ | £
| Analysis of investments |  |
| Listed investments | 4,800 | -
| Cash held as part of portfolio | 45,162 | -
|  | 49,962 | -
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 675,986 | 593,631
| Other debtors | 1,438,855 | 1,402,757
| Prepayments and accrued income | 17,426 | 11,949
|  | 2,132,267 | 2,008,337
8. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 2,479,248 | 1,810,979
|  | 2,479,248 | 1,810,979
Page 6
TEMA PROTECTIVE COATINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 126,992 | 233,915
| Corporation tax | 347,407 | 227,428
| Other taxation and social security | 91,372 | 91,788
| Other creditors | 957,258 | 1,251,016
| Accruals and deferred income | 474,538 | 330,041
|  | 1,997,567 | 2,134,188
10. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (56,950)
| Charged to profit or loss | (10,666)
| At end of year | (67,616)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (67,616) | (56,950)
|  | (67,616) | (56,950)
11. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1 Ordinary shares of £1.00 each | 1 | 1
12. | Pension commitments
The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amount to £112,036 (2024: £12,332). Included within other creditors at the balance sheet was amounts owed to the scheme totalling £3,534 (2024: £2,256). Page 7
TEMA PROTECTIVE COATINGS LIMITED |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
13. | Transactions with directors
| The following advances and credits to a director subsisted during the years ended 30 June 2025 and 30 June 2024.
14. | Related party transactions
| Companies under common control During the year the company made sales of £262,187 (2024: £320,503), purchases of £138,450 (2024: £63,952) and incurred rental and utility costs of £207,155 (2024: £200,485).
|  | 2025 | 2024
|  | £ | £
| Amount due (to)/from related party at the balance sheet date | 493,855 | 159,567
|  | 493,855 | 159,567
15. | Ultimate controlling party
The controlling party is Mr M Donovan.
16. | Auditors' information
The auditors' report on the financial statements for the year ended 30 June 2025 was unqualified. The audit report was signed on 9 March 2026 by Victoria Carter (Senior statutory auditor) on behalf of Menzies LLP.
Page 8