SR Ventilation Limited 09131249 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is That of sheet metal fabrication. Digita Accounts Production Advanced 6.30.9574.0 true true 09131249 2022-08-01 2023-07-31 09131249 2023-07-31 09131249 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-07-31 09131249 core:RetainedEarningsAccumulatedLosses 2023-07-31 09131249 core:ShareCapital 2023-07-31 09131249 core:CurrentFinancialInstruments 2023-07-31 09131249 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 09131249 core:FurnitureFittingsToolsEquipment 2023-07-31 09131249 core:MotorVehicles 2023-07-31 09131249 core:OtherPropertyPlantEquipment 2023-07-31 09131249 bus:SmallEntities 2022-08-01 2023-07-31 09131249 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 09131249 bus:AbridgedAccounts 2022-08-01 2023-07-31 09131249 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 09131249 bus:RegisteredOffice 2022-08-01 2023-07-31 09131249 bus:Director1 2022-08-01 2023-07-31 09131249 bus:Director2 2022-08-01 2023-07-31 09131249 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-08-01 2023-07-31 09131249 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 09131249 core:FurnitureFittings 2022-08-01 2023-07-31 09131249 core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 09131249 core:MotorVehicles 2022-08-01 2023-07-31 09131249 core:OtherPropertyPlantEquipment 2022-08-01 2023-07-31 09131249 core:PlantMachinery 2022-08-01 2023-07-31 09131249 countries:AllCountries 2022-08-01 2023-07-31 09131249 2022-07-31 09131249 core:FurnitureFittingsToolsEquipment 2022-07-31 09131249 core:MotorVehicles 2022-07-31 09131249 core:OtherPropertyPlantEquipment 2022-07-31 09131249 2021-08-01 2022-07-31 09131249 2022-07-31 09131249 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-07-31 09131249 core:RetainedEarningsAccumulatedLosses 2022-07-31 09131249 core:ShareCapital 2022-07-31 09131249 core:CurrentFinancialInstruments 2022-07-31 09131249 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 09131249 core:FurnitureFittingsToolsEquipment 2022-07-31 09131249 core:MotorVehicles 2022-07-31 09131249 core:OtherPropertyPlantEquipment 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09131249

SR Ventilation Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 July 2023

 

SR Ventilation Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Abridged Financial Statements

4 to 7

 

SR Ventilation Limited

Company Information

Directors

Mr Stephen Rutter

Mrs Christine Marr

Registered office

Unit 1 Barons Court
Graceways
Whitehills Business Park
Blackpool
Lancashire
FY4 5GP

Accountants

Rawcliffe & Co Limited
Chartered Accountants
Unit 1 Barons Court
Graceways
Whitehills Business Park
Blackpool
Lancashire
FY4 5GP

 

SR Ventilation Limited

(Registration number: 09131249)
Abridged Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

29,041

32,554

Current assets

 

Stocks

5,000

5,000

Debtors

5

149,591

173,140

Cash at bank and in hand

 

7,663

-

 

162,254

178,140

Prepayments and accrued income

 

8,982

6,783

Creditors: Amounts falling due within one year

(147,299)

(173,990)

Net current assets

 

23,937

10,933

Total assets less current liabilities

 

52,978

43,487

Provisions for liabilities

(5,518)

(6,186)

Accruals and deferred income

 

(1,396)

(1,450)

Net assets

 

46,064

35,851

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

45,964

35,751

Shareholders' funds

 

46,064

35,851

 

SR Ventilation Limited

(Registration number: 09131249)
Abridged Balance Sheet as at 31 July 2023

For the financial year ending 31 July 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 23 October 2023 and signed on its behalf by:
 

.........................................
Mr Stephen Rutter
Director

 

SR Ventilation Limited

Notes to the Abridged Financial Statements for the Year Ended 31 July 2023

1

General information

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

The address of its registered office is:
Unit 1 Barons Court
Graceways
Whitehills Business Park
Blackpool
Lancashire
FY4 5GP
United Kingdom

The principal place of business is:
Unit 3 Arkwright Court
Blackpool & Fylde Ind. Est
Lancs
FY4 5DR

These financial statements were authorised for issue by the Board on 23 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 abridged 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 abridged 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

SR Ventilation Limited

Notes to the Abridged Financial Statements for the Year Ended 31 July 2023

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.

Deferred corporation tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred corporation tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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

15% reducing balance

Fixtures and fittings

15% reducing balance

Motor vehicles

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.

 

SR Ventilation Limited

Notes to the Abridged Financial Statements for the Year Ended 31 July 2023

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.

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.

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.

 

SR Ventilation Limited

Notes to the Abridged Financial Statements for the Year Ended 31 July 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2022 - 7).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2022

3,676

4,695

78,993

87,364

Additions

-

-

1,685

1,685

At 31 July 2023

3,676

4,695

80,678

89,049

Depreciation

At 1 August 2022

2,134

3,464

49,212

54,810

Charge for the year

232

246

4,720

5,198

At 31 July 2023

2,366

3,710

53,932

60,008

Carrying amount

At 31 July 2023

1,310

985

26,746

29,041

At 31 July 2022

1,542

1,231

29,781

32,554

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share class 1 of £1 each

100

100

100

100