Registered number
06532905
Prima Windows (Hartlepool) Limited
Filleted Accounts
31 March 2022
Prima Windows (Hartlepool) Limited
Registered number: 06532905
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 73,873 44,195
Current assets
Stocks 83,905 137,676
Debtors 4 205,082 176,222
Cash at bank and in hand 97,610 89,356
386,597 403,254
Creditors: amounts falling due within one year 5 (257,121) (327,902)
Net current assets 129,476 75,352
Total assets less current liabilities 203,349 119,547
Creditors: amounts falling due after more than one year 6 (85,493) (66,417)
Provisions for liabilities (14,035) (8,397)
Net assets 103,821 44,733
Capital and reserves
Called up share capital 20 20
Profit and loss account 103,801 44,713
Shareholders' funds 103,821 44,733
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J B Lee
Director
Approved by the board on 19 September 2022
Prima Windows (Hartlepool) Limited
Notes to the Accounts
for the year ended 31 March 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% straight line
Motor vehicles 20% straight line
Office equipment 25% straight line
Furniture and fittings 25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 19 18
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2021 72,431 116,666 189,097
Additions 7,507 41,249 48,756
Disposals - (8,983) (8,983)
At 31 March 2022 79,938 148,932 228,870
Depreciation
At 1 April 2021 65,184 79,718 144,902
Charge for the year 5,113 13,965 19,078
On disposals - (8,983) (8,983)
At 31 March 2022 70,297 84,700 154,997
Net book value
At 31 March 2022 9,641 64,232 73,873
At 31 March 2021 7,247 36,948 44,195
4 Debtors 2022 2021
£ £
Trade debtors 195,695 150,525
Other debtors 9,387 25,697
205,082 176,222
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 5,556 8,333
Obligations under finance lease and hire purchase contracts 14,248 8,619
Trade creditors 148,399 206,084
Taxation and social security costs 67,580 80,058
Other creditors 21,338 24,808
257,121 327,902
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 39,814 41,667
Obligations under finance lease and hire purchase contracts 45,679 24,750
85,493 66,417
7 Controlling party
The company is under the control of Mr J B Lee and Mrs J Lee by virture of their shareholding in the company.
8 Other information
Prima Windows (Hartlepool) Limited is a private company limited by shares and incorporated in England. Its registered office is:
12B Parkside Industrial Estate
Parkview Road East
Hartlepool
TS25 1PG
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