Industrial & Commercial Coatings Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07173582 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

INDUSTRIAL & COMMERCIAL COATINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A J L Keir

R D Edwards

J D Tunberger

M Gullbrandson

M Kennedy

REGISTERED OFFICE:

1 Bardsley Road

Earlstrees Industrial Estate

Corby

Northamptonshire

NN17 4AR

REGISTERED NUMBER:

07173582 (England and Wales)

AUDITORS:

TC Group, Statutory Auditor

1 Rushmills

Bedford Road

Northampton

Northamptonshire

NN4 7YB

FIXED ASSETS

Tangible assets

4

308,487

294,016

Investments

5

699,501

1,007,988

993,517

CURRENT ASSETS

Debtors

6

1,669,327

1,687,877

Cash at bank

91,379

56,823

1,760,706

1,744,700

CREDITORS

Amounts falling due within one year

7

14,862

23,663

NET CURRENT ASSETS

1,745,844

1,721,037

TOTAL ASSETS LESS CURRENT LIABILITIES

2,753,832

2,714,554

CREDITORS

Amounts falling due after more than one
year

8

(37,788

)

(100

)

PROVISIONS FOR LIABILITIES

9

(62,606

)

(23,076

)

NET ASSETS

2,653,438

2,691,378

CAPITAL AND RESERVES

Called up share capital

10

500

Share premium

698,301

Capital redemption reserve

500

Retained earnings

1,954,137

1,992,077

SHAREHOLDERS' FUNDS

2,653,438

2,691,378

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

Industrial & Commercial Coatings 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 Industrial & Commercial Coatings 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 represents the value of rents receivable in the accounting period, including estimates of amounts not yet paid.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

12.5% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are initially recorded at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses. At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

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 4 (2025 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

COST

At 1 April 2025

630,470

46,790

43,179

720,439

Additions

27,652

18,417

19,240

65,309

Disposals

-

(53

)

(14,279

)

(14,332

)

Reclassification/transfer

12,950

-

(12,950

)

-

At 31 March 2026

671,072

65,154

35,190

771,416

DEPRECIATION

At 1 April 2025

363,546

34,994

27,883

426,423

Charge for year

36,789

4,317

4,659

45,765

Eliminated on disposal

-

(9,259

)

(9,259

)

Reclassification/transfer

6,880

-

(6,880

)

-

At 31 March 2026

407,215

39,311

16,403

462,929

NET BOOK VALUE

At 31 March 2026

263,857

25,843

18,787

308,487

At 31 March 2025

266,924

11,796

15,296

294,016

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2025

and 31 March 2026

699,501

NET BOOK VALUE

At 31 March 2026

699,501

At 31 March 2025

699,501

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

Spraylat International Limited

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

Nature of business: Trading

%

Class of shares:

holding

Ordinary

100.00

Redeemable Ordinary

100.00

PVB Dispersions Limited

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

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

6.

DEBTORS

2026

2025

£

Amounts falling due within one year:

Trade debtors

-

1,106

Other debtors

13,049

VAT

1,802

3,457

14,851

17,612

Amounts falling due after more than one year:

Amounts owed by group undertakings

1,654,476

1,670,265

Aggregate amounts

1,669,327

1,687,877

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade creditors

1,780

2,963

Corporation tax

537

18,209

Other creditors

4,290

331

Accrued expenses

8,255

2,160

14,862

23,663

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

Amounts owed to group undertakings

37,788

100

9.	PROVISIONS FOR LIABILITIES

2026

2025

£

Deferred tax

62,606

23,076

Deferred

tax

£

Balance at 1 April 2025

23,076

Charge to Income Statement during year

39,530

Balance at 31 March 2026

62,606

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

500

Ordinary B

£1

500

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

The Report of the Auditors was unqualified.

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.

13.	ULTIMATE CONTROLLING PARTY

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

The consolidated financial statements can be found here: Bergman & Beving AB, Cardellgatan 1, 114 36, Stockholm, Sweden