REGISTERED NUMBER: SC172495 (Scotland)

Financial Statements

For The Year Ended 31 March 2026

for

Spectrum Decorating Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Collins

P J Dickson

N A Russell

M Russell

SECRETARY:

P J Dickson

REGISTERED OFFICE:

25 Glencraig Street

Glencraig Industrial Estate

Airdrie

ML6 9AR

REGISTERED NUMBER:

SC172495 (Scotland)

ACCOUNTANTS:

Cahill Jack Associates Limited

91 Alexander Street

Airdrie

North Lanarkshire

ML6 0BD

FIXED ASSETS

Intangible assets

4

-

39,716

Tangible assets

5

56,994

71,292

56,994

111,008

CURRENT ASSETS

Stocks

1,436

1,315

Debtors

6

284,450

370,217

Cash at bank

60,496

-

346,382

371,532

CREDITORS

Amounts falling due within one year

7

193,335

183,787

NET CURRENT ASSETS

153,047

187,745

TOTAL ASSETS LESS CURRENT LIABILITIES

210,041

298,753

CREDITORS

Amounts falling due after more than one year

8

(32,349

)

(53,613

)

PROVISIONS FOR LIABILITIES

(19,254

)

(22,428

)

NET ASSETS

158,438

222,712

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

158,338

222,612

158,438

222,712

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2026 and were signed on its behalf by:

N A Russell - Director

P J Dickson - Director

1.	STATUTORY INFORMATION

Spectrum Decorating Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

15% on reducing balance

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

10% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2025 - 39 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2025

and 31 March 2026

397,230

AMORTISATION

At 1 April 2025

357,514

Charge for year

39,716

At 31 March 2026

397,230

NET BOOK VALUE

At 31 March 2026

-

At 31 March 2025

39,716

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2025

7,427

3,163

116,582

10,195

137,367

Additions

-

-

2,083

-

2,083

Transfer to ownership

-

-

(17,685

)

-

(17,685

)

Reclassification/transfer

-

-

17,685

-

17,685

At 31 March 2026

7,427

3,163

118,665

10,195

139,450

DEPRECIATION

At 1 April 2025

4,958

2,304

53,299

5,514

66,075

Charge for year

370

129

15,362

520

16,381

At 31 March 2026

5,328

2,433

68,661

6,034

82,456

NET BOOK VALUE

At 31 March 2026

2,099

730

50,004

4,161

56,994

At 31 March 2025

2,469

859

63,283

4,681

71,292

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2025

108,582

Transfer to ownership

(17,685

)

At 31 March 2026

90,897

DEPRECIATION

At 1 April 2025

45,900

Charge for year

13,291

Transfer to ownership

(12,089

)

At 31 March 2026

47,102

NET BOOK VALUE

At 31 March 2026

43,795

At 31 March 2025

62,682

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Amounts recoverable on contract

225,136

289,582

Other debtors

59,314

80,635

284,450

370,217

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

1,864

24,540

Hire purchase contracts

18,920

20,075

Trade creditors

53,249

52,845

Taxation and social security

114,785

78,500

Other creditors

4,517

7,827

193,335

183,787

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

-

2,344

Hire purchase contracts

32,349

51,269

32,349

53,613

9.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank loans

1,864

18,328

The Bounce back loan is supported by a 100% guarantee from the UK Government.

Hire purchase creditors are secured on the assets concerned.