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Registered number: 8793226
Permicoat Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2025
Turner and Brown Limited
Chartered Accountants
105 Garstang Road
Preston
Lancashire
PR1 1LD
Permicoat Ltd
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—6

Page 1
Permicoat Ltd
Balance Sheet
As At 31 December 2025
Balance Sheet
Registered number: 8793226

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 72,164 |  | 71,887
|  |  | 72,164 |  | 71,887
CURRENT ASSETS
Debtors | 5 | 616,044 |  | 635,083 |
Cash at bank and in hand |  | 33,974 |  | 100,750 |
|  | 650,018 |  | 735,833 |
Creditors: Amounts Falling Due Within One Year | 6 | (326,369 ) |  | (243,958 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 323,649 |  | 491,875
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 395,813 |  | 563,762
Creditors: Amounts Falling Due After More Than One Year | 7 |  | (26,496 ) |  | (16,955 )
PROVISIONS FOR LIABILITIES
Deferred Taxation |  |  | (18,041 ) |  | (17,972 )
NET ASSETS |  |  | 351,276 |  | 528,835
CAPITAL AND RESERVES
Called up share capital | 9 |  | 1,000 |  | 1,000
Profit and Loss Account |  |  | 350,276 |  | 527,835
SHAREHOLDERS' FUNDS |  |  | 351,276 |  | 528,835

Page 1
Page 2
Permicoat Ltd
Balance Sheet (continued)
As At 31 December 2025
For the year ending 31 December 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

Mr J R Mattison Director
8 April 2026

The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Permicoat Ltd
Notes to the Financial Statements
For The Year Ended 31 December 2025
Notes to the Financial Statements
1. General Information
Permicoat Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 8793226 . The registered office is 12 Riversway Business Village, Navigation Way, Preston , PR2 2YP.
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.Where income relates to services performed over the course of a contract the income is recognised throughout the performance of that contract so far as the progress can be reliably measured. To the extent there are any partially completed works at the reporting date which are yet to be invoiced these are recorded as work in progress and included within stocks on the statement of financial position.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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 | 33.33% 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 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 stocks to their present location and condition.
2.6. Financial Instruments
A financial asset or a financial liability is recognised only when the company 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.
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Permicoat Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.7. 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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.8. Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
2.9. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as
part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2024: 12)
19 12
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Page 5
Permicoat Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
4. Tangible Assets

| Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Computer Equipment | Total
--- | --- | --- | --- | --- | ---
| £ | £ | £ | £ | £
Cost
As at 1 January 2025 | 19,057 | 74,750 | 12,601 | 29,334 | 135,742
Additions | 2,638 | 15,200 | 5,565 | 1,221 | 24,624
As at 31 December 2025 | 21,695 | 89,950 | 18,166 | 30,555 | 160,366
Depreciation
As at 1 January 2025 | 11,609 | 20,138 | 8,575 | 23,533 | 63,855
Provided during the period | 2,414 | 17,453 | 2,218 | 2,262 | 24,347
As at 31 December 2025 | 14,023 | 37,591 | 10,793 | 25,795 | 88,202
Net Book Value
As at 31 December 2025 | 7,672 | 52,359 | 7,373 | 4,760 | 72,164
As at 1 January 2025 | 7,448 | 54,612 | 4,026 | 5,801 | 71,887

5. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 415,422 |  | 305,467
Other debtors | 200,622 |  | 329,616
| 616,044 |  | 635,083

6. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 14,378 |  | 8,074
Trade creditors | 168,010 |  | 159,832
Bank loans and overdrafts | 27,407 |  | 10,000
Other creditors | 27,214 |  | 9,156
Taxation and social security | 89,360 |  | 56,896
| 326,369 |  | 243,958

7. Creditors: Amounts Falling Due After More Than One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 9,584 |  | 12,792
Bank loans | 16,912 |  | 4,163
| 26,496 |  | 16,955

Page 5
Page 6
Permicoat Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
8. Obligations Under Finance Leases and Hire Purchase

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
The future minimum finance lease payments are as follows:
Not later than one year | 14,378 |  | 8,074
Later than one year and not later than five years | 9,584 |  | 12,792
| 23,962 |  | 20,866
| 23,962 |  | 20,866

9. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 1,000 |  | 1,000

10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:

| As at 1 January 2025 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 December 2025
--- | --- | --- | --- | --- | ---
| £ | £ | £ | £ | £
Mr Philip Purcer | 31,914 | 30,822 | (51,800 ) | - | 10,936
Mr James Mattison | 44,452 | 13,317 | (67,000 ) | - | (9,231 )

The above loan is unsecured, interest free and repayable on demand.
11. Related Party Transactions
At the start of the period there was an outstanding balance due from a company, in respect of an interest free loan, under common control, of £160,205. During the year this company repaid £9,090. Also, payments totalling £2,163 were made on behalf of this company. The company then owed rent of £12,000 to this connected company against which no payments have been made. As such the balance of the loan at the reporting date was £141,278 and is recorded in other debtors. This loan is interest free and repayable on demand.
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