Specialised Coatings Limited 02554655 false 2024-11-01 2025-10-31 2025-10-31 The principal activity of the company is Stove enamelling and shot blasting Digita Accounts Production Advanced 6.30.9574.0 true true 02554655 2024-11-01 2025-10-31 02554655 2025-10-31 02554655 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2025-10-31 02554655 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2025-10-31 02554655 core:RetainedEarningsAccumulatedLosses 2025-10-31 02554655 core:ShareCapital 2025-10-31 02554655 core:CurrentFinancialInstruments 2025-10-31 02554655 core:CurrentFinancialInstruments core:WithinOneYear 2025-10-31 02554655 core:OtherResidualIntangibleAssets 2025-10-31 02554655 core:FurnitureFittingsToolsEquipment 2025-10-31 02554655 core:MotorVehicles 2025-10-31 02554655 core:OfficeEquipment 2025-10-31 02554655 core:PlantMachinery 2025-10-31 02554655 core:OtherRelatedParties 2025-10-31 02554655 bus:SmallEntities 2024-11-01 2025-10-31 02554655 bus:AuditExemptWithAccountantsReport 2024-11-01 2025-10-31 02554655 bus:FilletedAccounts 2024-11-01 2025-10-31 02554655 bus:SmallCompaniesRegimeForAccounts 2024-11-01 2025-10-31 02554655 bus:RegisteredOffice 2024-11-01 2025-10-31 02554655 bus:Director4 2024-11-01 2025-10-31 02554655 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-11-01 2025-10-31 02554655 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2024-11-01 2025-10-31 02554655 bus:PrivateLimitedCompanyLtd 2024-11-01 2025-10-31 02554655 core:ComputerSoftware 2024-11-01 2025-10-31 02554655 core:OtherResidualIntangibleAssets 2024-11-01 2025-10-31 02554655 core:ComputerEquipment 2024-11-01 2025-10-31 02554655 core:FurnitureFittings 2024-11-01 2025-10-31 02554655 core:FurnitureFittingsToolsEquipment 2024-11-01 2025-10-31 02554655 core:MotorVehicles 2024-11-01 2025-10-31 02554655 core:OfficeEquipment 2024-11-01 2025-10-31 02554655 core:PlantMachinery 2024-11-01 2025-10-31 02554655 1 2024-11-01 2025-10-31 02554655 countries:EnglandWales 2024-11-01 2025-10-31 02554655 2024-10-31 02554655 core:OtherResidualIntangibleAssets 2024-10-31 02554655 core:FurnitureFittingsToolsEquipment 2024-10-31 02554655 core:MotorVehicles 2024-10-31 02554655 core:OfficeEquipment 2024-10-31 02554655 core:PlantMachinery 2024-10-31 02554655 2023-11-01 2024-10-31 02554655 2024-10-31 02554655 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-10-31 02554655 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2024-10-31 02554655 core:RetainedEarningsAccumulatedLosses 2024-10-31 02554655 core:ShareCapital 2024-10-31 02554655 core:CurrentFinancialInstruments 2024-10-31 02554655 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 02554655 core:OtherResidualIntangibleAssets 2024-10-31 02554655 core:FurnitureFittingsToolsEquipment 2024-10-31 02554655 core:MotorVehicles 2024-10-31 02554655 core:OfficeEquipment 2024-10-31 02554655 core:PlantMachinery 2024-10-31 02554655 core:OtherRelatedParties 2024-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02554655

Specialised Coatings Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 October 2025

Specialised Coatings Limited

Contents

Balance Sheet | 1
Notes to the Unaudited Financial Statements | 2 to 7

Specialised Coatings Limited

(Registration number: 02554655)
Balance Sheet as at 31 October 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | 45,693 |  | 39,583
Tangible assets | 5 |  | 145,433 |  | 95,462
|  |  | 191,126 |  | 135,045
Current assets |  |  |  |  |
Stocks |  | 128,642 |  | 189,469 |
Debtors | 6 | 701,328 |  | 539,356 |
Cash at bank and in hand |  | 77,287 |  | 6,927 |
|  | 907,257 |  | 735,752 |
Creditors: Amounts falling due within one year | 7 | (512,182) |  | (591,973) |
Net current assets |  |  | 395,075 |  | 143,779
Total assets less current liabilities |  |  | 586,201 |  | 278,824
Provisions for liabilities |  |  | (30,000) |  | (27,000)
Net assets |  |  | 556,201 |  | 251,824
Capital and reserves |  |  |  |  |
Called up share capital | 8 | 100 |  | 100 |
Retained earnings |  | 556,101 |  | 251,724 |
Shareholders' funds |  |  | 556,201 |  | 251,824

For the financial year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 July 2026 and signed on its behalf by:

......................................... D M Bywater Director

Specialised Coatings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Mile Cross Works
Gibbet Street
Halifax
HX1 4JQ

These financial statements were authorised for issue by the Board on 8 July 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 disclosure and presentation requirements of Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentation currency is pound sterling.

Summary of disclosure exemptions

The company has taken advantage of the exemption under Section 1AC.35 from disclosing transactions and balances
with fellow group undertakings that are wholly owned.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Specialised Coatings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Furniture and fixtures | 20% straight line basis
Motor vehicles | 25% straight line basis
Office equipment | 33% straight line basis
Plant and machinery | 20% straight line basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Computer software | 33% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Specialised Coatings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Financial instruments

Financial assets
Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 32 (2024 - 34).

Specialised Coatings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

4 | Intangible assets

| Computer software £ | Total £
Cost or valuation
At 1 November 2024 | 63,990 | 63,990
Additions acquired separately | 22,025 | 22,025
At 31 October 2025 | 86,015 | 86,015
Amortisation
At 1 November 2024 | 24,407 | 24,407
Amortisation charge | 15,915 | 15,915
At 31 October 2025 | 40,322 | 40,322
Carrying amount
At 31 October 2025 | 45,693 | 45,693
At 31 October 2024 | 39,583 | 39,583

5 | Tangible assets

| Furniture and fixtures £ | Motor vehicles £ | Plant and machinery £ | Office equipment £ | Total £
Cost or valuation
At 1 November 2024 | - | 95,900 | 41,897 | 14,438 | 152,235
Additions | 4,848 | 56,040 | 38,025 | 439 | 99,352
At 31 October 2025 | 4,848 | 151,940 | 79,922 | 14,877 | 251,587
Depreciation
At 1 November 2024 | - | 36,977 | 9,553 | 10,243 | 56,773
Charge for the year | 242 | 31,770 | 15,111 | 2,258 | 49,381
At 31 October 2025 | 242 | 68,747 | 24,664 | 12,501 | 106,154
Carrying amount
At 31 October 2025 | 4,606 | 83,193 | 55,258 | 2,376 | 145,433
At 31 October 2024 | - | 58,923 | 32,344 | 4,195 | 95,462

Specialised Coatings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 357,402 | 443,782
Amounts owed by related parties | 334,606 | 69,951
Prepayments | 9,320 | 8,836
Other debtors | - | 16,787
| 701,328 | 539,356

7 | Creditors

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 118,539 | 146,883
Amounts owed to group undertakings | 1,452 | 146,833
Taxation and social security | 172,565 | 65,281
Accruals and deferred income | 117,776 | 18,799
Other creditors | 101,850 | 214,177
| 512,182 | 591,973

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 99 | 99 | 99 | 99
Ordinary A shares of £1 each | 1 | 1 | 1 | 1
| 100 | 100 | 100 | 100

Specialised Coatings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

9 | Related party transactions

Expenditure with and payables to related parties

2025 | Other related parties £
Amounts payable to related party | 28,702

2024 | Other related parties £
Amounts payable to related party | 31,200

10 | Parent and ultimate parent undertaking

The company's immediate parent is Specialised Coatings Holdings Limited, incorporated in England and Wales.