REGISTERED NUMBER: 02704007 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

SPRAYLAT INTERNATIONAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A J L Keir

R D Edwards

M Gullbrandson

J D Tunberger

M Kennedy

REGISTERED OFFICE:

1 Bardsley Road

Earlstrees Industrial Estate

Corby

Northamptonshire

NN17 4AR

REGISTERED NUMBER:

02704007 (England and Wales)

SENIOR STATUTORY AUDITOR:

Rebecca Pickard FCCA

AUDITORS:

TC Group, Statutory Auditor

1 Rushmills

Bedford Road

Northampton

Northamptonshire

NN4 7YB

FIXED ASSETS

Investments

4

101

101

CURRENT ASSETS

Stocks

5

426,829

343,584

Debtors

6

570,319

626,431

Cash at bank

400,833

783,416

1,397,981

1,753,431

CREDITORS

Amounts falling due within one year

7

162,793

509,055

NET CURRENT ASSETS

1,235,188

1,244,376

TOTAL ASSETS LESS CURRENT LIABILITIES

1,235,289

1,244,477

CREDITORS

Amounts falling due after more than one year

8

-

15,789

NET ASSETS

1,235,289

1,228,688

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

1,234,289

1,227,688

SHAREHOLDERS' FUNDS

1,235,289

1,228,688

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 1 September 2026 and were signed on its behalf by:

M Kennedy - Director

1.	STATUTORY INFORMATION

Spraylat International 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

There are no material departures from this standard.

Preparation of consolidated financial statements

The financial statements contain information about Spraylat International Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstance.

Turnover

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

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost is calculated on an average cost basis.

Financial instruments

Basic financial assets, including trade and other receivables and cash and bank balances, 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.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 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) despite having retained some significant risks and rewards of ownership, 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

.

Basic financial liabilities, including trade and other payables, and loans from fellow Group companies, 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. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

As at the point of authorising the accounts, and for the foreseeable future, the directors consider the going concern assumption to still be appropriate. The directors acknowledge that given the rapidly changing business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the directors to represent a general inherent level of risk in relation to the going concern assumption albeit not quantifiable at this time.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2025 - 15 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2025

and 31 March 2026

101

NET BOOK VALUE

At 31 March 2026

101

At 31 March 2025

101

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Protectapeel Limited

Registered office: 1 Bardsley Road, Earlstrees Industrial Estate, Corby, Northamptonshire, NN17 4AR

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

Peelaway Coatings Limited

Registered office: 1 Bardsley Road, Earlstrees Industrial Es, Corby, Northamptonshire, NN17 4AR

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

5.

STOCKS

2026

2025

£

£

Stocks

426,829

343,584

6.

DEBTORS

2026

2025

£

£

Amounts falling due within one year:

Trade debtors

252,594

395,435

Amounts owed by group undertakings

145,524

145,524

Other debtors

127

-

VAT

26,764

43,846

Prepayments

107,622

41,626

532,631

626,431

Amounts falling due after more than one year:

Amounts owed by group undertakings

37,688

-

Aggregate amounts

570,319

626,431

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

107,315

254,076

Amounts owed to group undertakings

101

101

Corporation tax

3,844

184,262

Social security and other taxes

19,930

19,016

Employee pension

4,431

3,540

Accruals and deferred income

27,172

48,060

162,793

509,055

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Amounts owed to group undertakings

-

15,789

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2026

2025

£

£

Within one year

114,516

90,792

Between one and five years

375,743

317,294

In more than five years

262,167

340,167

752,426

748,253

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

999

Ordinary

£1

999

999

100

Redeemable Ordinary

1p

1

1

1,000

1,000

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion

The Company's stock at 31 March 2026 is included in the balance sheet at £426,829 (2025: £343,584). The comparative financial statements for the year ended 31 March 2025 were unaudited and thus we did not observe the counting of physical stock at the end of that year. We were unable to satisfy ourselves by alternative means concerning the stock quantities held at 31 March 2026 by using other audit procedures. Consequently, we were unable to determine whether any adjustments might have been necessary to Stock and the Retained earnings as at 1 April 2025.

In addition, we were unable to obtain sufficient appropriate audit evidence regarding the valuation, existence and completeness of finished goods stock at 31 March 2026. The Company did not maintain a detailed breakdown of finished goods by individual stock item at the reporting date to verify quantities, and stock was valued using an average cost that could not be substantiated to supporting evidence. Consequently we were unable to determine whether any adjustment to this amount was necessary.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Rebecca Pickard FCCA (Senior Statutory Auditor)

for and on behalf of TC Group, Statutory Auditor

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year, the company entered into transactions with related parties comprising sales of £10,875, of which £2,360 remained outstanding at the year end and was included within trade debtors. The company also made purchases of £4,840 and £2,100 from related parties during the year. In addition, purchases of £6,326 were made from statutory directors.

All transactions were conducted on normal commercial terms and at arm's length.

13.	ULTIMATE CONTROLLING PARTY

The holding company is Industrial & Commercial Coatings Limited.

The ultimate holding company is Bergman & Beving Invest AB (556706-2699).

The consolidated accounts can be found at: Bergman & Beving AB, Cardellgatan 1, 114 36, Stockholm, Sweden