ParaTech Coating UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04438372 (England and Wales)

ParaTech Coating UK Limited

Unaudited Financial Statements

for the Year Ended 31 July 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R D Thomas

REGISTERED OFFICE:

Unit 3

Gladstone Road

Northampton

Northamptonshire

NN5 7RX

REGISTERED NUMBER:

04438372 (England and Wales)

ACCOUNTANTS:

Kilby Fox

Chartered Accountants

4 Pavilion Court

600 Pavilion Drive

Northampton Business Park

Northampton

Northamptonshire

NN4 7SL

FIXED ASSETS

Tangible assets

4

108,215

56,637

CURRENT ASSETS

Stocks

146,994

70,902

Debtors

5

210,942

287,193

Cash at bank and in hand

12,468

10,913

370,404

369,008

CREDITORS

Amounts falling due within one year

6

201,830

141,120

NET CURRENT ASSETS

168,574

227,888

TOTAL ASSETS LESS CURRENT LIABILITIES

276,789

284,525

PROVISIONS FOR LIABILITIES

13,416

4,638

NET ASSETS

263,373

279,887

CAPITAL AND RESERVES

Called up share capital

65,000

90,000

Retained earnings

198,373

189,887

SHAREHOLDERS' FUNDS

263,373

279,887

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 20 October 2021 and were signed by:

R D Thomas - Director

1.	STATUTORY INFORMATION

ParaTech Coating UK 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.

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.

Related party exemption

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.

Turnover

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

Tangible fixed assets

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

Plant & machinery etc

-

at varying rates on reducing balance and at varying rates on cost

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

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 23 (2020 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Plant &

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 August 2020

121,534

692,579

814,113

Additions

-

135,045

135,045

At 31 July 2021

121,534

827,624

949,158

DEPRECIATION

At 1 August 2020

101,594

655,882

757,476

Charge for year

12,153

71,314

83,467

At 31 July 2021

113,747

727,196

840,943

NET BOOK VALUE

At 31 July 2021

7,787

100,428

108,215

At 31 July 2020

19,940

36,697

56,637

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

171,573

228,940

Amounts recoverable on contract

4,857

4,857

Other debtors

5,632

26,633

Directors' current accounts

16,439

18,446

Tax

8,698

4,574

Prepayments and accrued income

3,743

3,743

210,942

287,193

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

2,825

2,123

Broadley Properties Loan

8,250

17,250

Trade creditors

131,406

18,871

Corporation tax

-

37,525

Social security and other taxes

15,670

12,956

VAT

37,080

46,244

Accruals and deferred income

6,599

6,151

201,830

141,120

7.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

2,825

2,123

Debenture including Fixed Charge over all present freehold and leasehold property; First Fixed Charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and First Floating Charge over all assets and undertaking both present and future dated 03 July 2002.

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Mr R D Thomas has given a personal guarantee in respect on the hire purchase liability and bank loan.

9.	ULTIMATE CONTROLLING PARTY