Elite Windows (South Yorkshire) Limited 05407528 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is the selling and installation of windows, doors and conservatories Digita Accounts Production Advanced 6.30.9574.0 true 05407528 2022-04-01 2023-03-31 05407528 2023-03-31 05407528 core:RetainedEarningsAccumulatedLosses 2023-03-31 05407528 core:ShareCapital 2023-03-31 05407528 core:CurrentFinancialInstruments 2023-03-31 05407528 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05407528 core:Non-currentFinancialInstruments 2023-03-31 05407528 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 05407528 core:FurnitureFittingsToolsEquipment 2023-03-31 05407528 core:MotorVehicles 2023-03-31 05407528 bus:SmallEntities 2022-04-01 2023-03-31 05407528 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 05407528 bus:FullAccounts 2022-04-01 2023-03-31 05407528 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 05407528 bus:RegisteredOffice 2022-04-01 2023-03-31 05407528 bus:Director1 2022-04-01 2023-03-31 05407528 bus:Director3 2022-04-01 2023-03-31 05407528 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05407528 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 05407528 core:MotorVehicles 2022-04-01 2023-03-31 05407528 core:OfficeEquipment 2022-04-01 2023-03-31 05407528 core:PlantMachinery 2022-04-01 2023-03-31 05407528 countries:EnglandWales 2022-04-01 2023-03-31 05407528 2022-03-31 05407528 core:FurnitureFittingsToolsEquipment 2022-03-31 05407528 core:MotorVehicles 2022-03-31 05407528 2021-04-01 2022-03-31 05407528 2022-03-31 05407528 core:RetainedEarningsAccumulatedLosses 2022-03-31 05407528 core:ShareCapital 2022-03-31 05407528 core:CurrentFinancialInstruments 2022-03-31 05407528 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 05407528 core:Non-currentFinancialInstruments 2022-03-31 05407528 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 05407528 core:FurnitureFittingsToolsEquipment 2022-03-31 05407528 core:MotorVehicles 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 05407528

Elite Windows (South Yorkshire) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Elite Windows (South Yorkshire) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Elite Windows (South Yorkshire) Limited

(Registration number: 05407528)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

23,575

31,341

Current assets

 

Stocks

5

20,830

26,555

Debtors

6

28,282

35,614

Cash at bank and in hand

 

245,243

207,065

 

294,355

269,234

Creditors: Amounts falling due within one year

7

(196,411)

(193,339)

Net current assets

 

97,944

75,895

Total assets less current liabilities

 

121,519

107,236

Creditors: Amounts falling due after more than one year

7

(23,334)

(33,334)

Provisions for liabilities

(4,479)

(5,955)

Net assets

 

93,706

67,947

Capital and reserves

 

Called up share capital

6

6

Retained earnings

93,700

67,941

Shareholders' funds

 

93,706

67,947

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 October 2023 and signed on its behalf by:
 

 

Elite Windows (South Yorkshire) Limited

(Registration number: 05407528)
Balance Sheet as at 31 March 2023

.........................................
Mr J L Vincent
Director

.........................................
Mr C A Smith
Director

 

Elite Windows (South Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9 Thorne Road
Doncaster
South Yorkshire
DN1 2HJ

These financial statements were authorised for issue by the Board on 9 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Elite Windows (South Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Office equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Elite Windows (South Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Elite Windows (South Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

9,142

52,914

62,056

At 31 March 2023

9,142

52,914

62,056

Depreciation

At 1 April 2022

7,604

23,111

30,715

Charge for the year

315

7,451

7,766

At 31 March 2023

7,919

30,562

38,481

Carrying amount

At 31 March 2023

1,223

22,352

23,575

At 31 March 2022

1,538

29,803

31,341

5

Stocks

2023
£

2022
£

Work in progress

19,372

24,972

Other inventories

1,458

1,583

20,830

26,555

6

Debtors

2023
£

2022
£

Trade debtors

23,753

22,214

Other debtors

1,655

7,412

Prepayments

2,874

5,988

28,282

35,614

 

Elite Windows (South Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

8,333

8,333

Trade creditors

 

85,560

103,149

Amounts owed to related parties

70,557

55,554

Taxation and social security

 

3,942

4,249

Income tax liability

 

25,308

19,492

Other creditors

 

-

70

Accrued expenses

 

2,711

2,492

 

196,411

193,339

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

23,334

33,334

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

23,334

33,334

2023
£

2022
£

Current loans and borrowings

Bank borrowings

8,333

8,333