Registration number: 02554655

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