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REGISTERED NUMBER: 10600718 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

STORM VENTILATION SUPPLIES LTD

STORM VENTILATION SUPPLIES LTD (REGISTERED NUMBER: 10600718)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STORM VENTILATION SUPPLIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr B T Raven
Mr R J Murphy
Mr J L Kemp



REGISTERED OFFICE: White House Farm
Workhouse Lane
Burbage
Leicestershire
LE10 3AS



REGISTERED NUMBER: 10600718 (England and Wales)



SENIOR STATUTORY AUDITOR: Philip Ward



AUDITORS: Lowson Ward Limited
292 Wake Green Road
Birmingham
B13 9QP

STORM VENTILATION SUPPLIES LTD (REGISTERED NUMBER: 10600718)

BALANCE SHEET
31 MARCH 2023

31/3/23 31/3/22
(Unaudited)
Notes £    £   
FIXED ASSETS
Tangible assets 3 786,813 495,705

CURRENT ASSETS
Stocks 837,896 405,871
Debtors 4 3,798,225 2,793,597
Cash at bank 816,492 756,620
5,452,613 3,956,088
CREDITORS
Amounts falling due within one year 5 (4,500,020 ) (3,908,166 )
NET CURRENT ASSETS 952,593 47,922
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,739,406

543,627

CREDITORS
Amounts falling due after more than
one year

6

(41,652

)

(40,680

)

PROVISIONS FOR LIABILITIES 9 (132,200 ) (46,200 )
NET ASSETS 1,565,554 456,747

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 1,565,548 456,741
SHAREHOLDERS' FUNDS 1,565,554 456,747

STORM VENTILATION SUPPLIES LTD (REGISTERED NUMBER: 10600718)

BALANCE SHEET - continued
31 MARCH 2023


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 6 October 2023 and were signed on its behalf by:





Mr B T Raven - Director


STORM VENTILATION SUPPLIES LTD (REGISTERED NUMBER: 10600718)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. 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.

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Equipment - 40% on reducing balance

All fixed assets are initially recorded at 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.

STORM VENTILATION SUPPLIES LTD (REGISTERED NUMBER: 10600718)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES - continued

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.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 71 (2022 - 62 ) .

STORM VENTILATION SUPPLIES LTD (REGISTERED NUMBER: 10600718)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 249,265 200,265 246,645 23,489 719,664
Additions - 270,672 164,155 24,812 459,639
Disposals - - (18,423 ) - (18,423 )
At 31 March 2023 249,265 470,937 392,377 48,301 1,160,880
DEPRECIATION
At 1 April 2022 - 99,043 108,472 16,444 223,959
Charge for year - 74,380 73,638 12,741 160,759
Eliminated on disposal - - (10,651 ) - (10,651 )
At 31 March 2023 - 173,423 171,459 29,185 374,067
NET BOOK VALUE
At 31 March 2023 249,265 297,514 220,918 19,116 786,813
At 31 March 2022 249,265 101,222 138,173 7,045 495,705

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
(Unaudited)
£    £   
Trade debtors 3,594,419 2,667,020
Other debtors - 8,419
Prepayments 203,806 118,158
3,798,225 2,793,597

STORM VENTILATION SUPPLIES LTD (REGISTERED NUMBER: 10600718)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
(Unaudited)
£    £   
Hire purchase contracts (see note 7) 59,339 49,973
Trade creditors 3,689,449 2,841,457
Corporation tax 244,702 105,273
PAYE and NIC 47,486 33,233
VAT 197,185 193,250
Other creditors 8,190 5,709
Wages control account - 300,000
Directors' current accounts 225,000 340,000
Accrued expenses 28,669 39,271
4,500,020 3,908,166

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/23 31/3/22
(Unaudited)
£    £   
Hire purchase contracts (see note 7) 41,652 40,680

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31/3/23 31/3/22
(Unaudited
£    £   
Net obligations repayable:
Within one year 59,339 49,973
Between one and five years 41,652 40,680
100,991 90,653

Non-cancellable operating leases
31/3/23 31/3/22
(Unaudited)
£    £   
Between one and five years 248,977 666,063
In more than five years 183,371 -
432,348 666,063

STORM VENTILATION SUPPLIES LTD (REGISTERED NUMBER: 10600718)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

31/3/23 31/3/22
(Unaudited)
£    £   
Hire purchase contracts 100,991 90,653

9. PROVISIONS FOR LIABILITIES
31/3/23 31/3/22
(Unaudited)
£    £   
Deferred tax
Accelerated capital allowances 132,200 46,200

Deferred
tax
£   
Balance at 1 April 2022 46,200
Provided during year 86,000
Balance at 31 March 2023 132,200

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

The Report of the Auditors was unqualified.

Philip Ward (Senior Statutory Auditor)
for and on behalf of Lowson Ward Limited