Company registration number SC223212 (Scotland)
PRONTO INDUSTRIAL PAINTS (SCOTLAND) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
PRONTO INDUSTRIAL PAINTS (SCOTLAND) LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4
PRONTO INDUSTRIAL PAINTS (SCOTLAND) LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PRONTO INDUSTRIAL PAINTS (SCOTLAND) LIMITED FOR THE YEAR ENDED 31 MARCH 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pronto Industrial Paints (Scotland) Limited for the year ended 31 March 2023 which comprise, the balance sheet, the statement of changes in equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Pronto Industrial Paints (Scotland) Limited, as a body, in accordance with the terms of our engagement letter dated 16 March 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Pronto Industrial Paints (Scotland) Limited and state those matters that we have agreed to state to the board of directors of Pronto Industrial Paints (Scotland) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pronto Industrial Paints (Scotland) Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Pronto Industrial Paints (Scotland) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of Pronto Industrial Paints (Scotland) Limited. You consider that Pronto Industrial Paints (Scotland) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Pronto Industrial Paints (Scotland) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Taylor Dawson Plumb Limited
24 November 2023
Chartered Accountants
22 Regent Street
Nottingham
NG1 5BQ
PRONTO INDUSTRIAL PAINTS (SCOTLAND) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
129,196
129,196
Net current assets
129,196
129,196
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
129,194
129,194
Total equity
129,196
129,196
The notes on page 4 form part of these financial statements.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 24 November 2023 and are signed on its behalf by:
D Beckford
J A G Harris
Director
Director
Company registration number SC223212 (Scotland)
PRONTO INDUSTRIAL PAINTS (SCOTLAND) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023
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Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2021
2
129,194
129,196
Year ended 31 March 2022:
Profit and total comprehensive income
-
Balance at 31 March 2022
2
129,194
129,196
Year ended 31 March 2023:
Profit and total comprehensive income
-
Balance at 31 March 2023
2
129,194
129,196
The notes on page 4 form part of these financial statements.
PRONTO INDUSTRIAL PAINTS (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
1
Accounting policies
Company information
Pronto Industrial Paints (Scotland) Limited is a private company limited by shares incorporated in Scotland. The registered office is 5th Floor, 125 Princes Street, Edinburgh, Scotland, EH2 4AD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2
Profit and loss account
The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.
1.3
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
3
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
129,196
129,196
4
Parent company
The ultimate parent undertaking is Pronto Industrial Paints Limited. The registered office is Stainsby Close, Holmewood Industrial Estate, Chesterfield, Derbyshire, S42 5UG.