Company registration number 04436905 (England and Wales)
SSAF WINDOW FILMS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
SSAF WINDOW FILMS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SSAF WINDOW FILMS LTD
BALANCE SHEET
AS AT
31 MAY 2023
31 May 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
193,188
159,398
Current assets
Stocks
33,346
37,051
Debtors
4
88,542
112,392
Cash at bank and in hand
37,055
29,435
158,943
178,878
Creditors: amounts falling due within one year
5
(116,353)
(104,747)
Net current assets
42,590
74,131
Total assets less current liabilities
235,778
233,529
Provisions for liabilities
(25,366)
(19,057)
Net assets
210,412
214,472
Capital and reserves
Called up share capital
102
100
Profit and loss reserves
210,310
214,372
Total equity
210,412
214,472

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 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small 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 2 November 2023 and are signed on its behalf by:
Mr S Ashton
Director
Company Registration No. 04436905
SSAF WINDOW FILMS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 2 -
1
Accounting policies
Company information

SSAF Window Films Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 21 Hemsby Road, Martham, Great Yarmouth, Norfolk, England, NR29 4QG.

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 have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
- 5% straight line
Plant and equipment
- 25% reducing balance
Fixtures and fittings
- 10% straight line
Computers
- 25% reducing balance/ 33% straight line
Motor vehicles
- 25% reducing balance
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

SSAF WINDOW FILMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.7
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
15
15
SSAF WINDOW FILMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 4 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 June 2022
142,799
499,198
641,997
Additions
3,725
81,266
84,991
Disposals
-
0
(14,259)
(14,259)
At 31 May 2023
146,524
566,205
712,729
Depreciation and impairment
At 1 June 2022
83,700
398,898
482,598
Depreciation charged in the year
3,141
45,523
48,664
Eliminated in respect of disposals
-
0
(11,721)
(11,721)
At 31 May 2023
86,841
432,700
519,541
Carrying amount
At 31 May 2023
59,683
133,505
193,188
At 31 May 2022
59,099
100,299
159,398
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
76,054
81,256
Other debtors
12,488
31,136
88,542
112,392
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
36,665
39,262
Corporation tax
783
10,466
Other taxation and social security
23,184
23,726
Other creditors
55,721
31,293
116,353
104,747
2023-05-312022-06-01false02 November 2023CCH SoftwareCCH Accounts Production 2023.100No description of principal activityMr S AshtonMr R AshtonMrs D Ashton044369052022-06-012023-05-31044369052023-05-31044369052022-05-3104436905core:LandBuildings2023-05-3104436905core:OtherPropertyPlantEquipment2023-05-3104436905core:LandBuildings2022-05-3104436905core:OtherPropertyPlantEquipment2022-05-3104436905core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-3104436905core:CurrentFinancialInstrumentscore:WithinOneYear2022-05-3104436905core:CurrentFinancialInstruments2023-05-3104436905core:CurrentFinancialInstruments2022-05-3104436905core:ShareCapital2023-05-3104436905core:ShareCapital2022-05-3104436905core:RetainedEarningsAccumulatedLosses2023-05-3104436905core:RetainedEarningsAccumulatedLosses2022-05-3104436905bus:Director12022-06-012023-05-3104436905core:LeaseholdImprovements2022-06-012023-05-3104436905core:PlantMachinery2022-06-012023-05-3104436905core:FurnitureFittings2022-06-012023-05-3104436905core:ComputerEquipment2022-06-012023-05-3104436905core:MotorVehicles2022-06-012023-05-31044369052021-06-012022-05-3104436905core:LandBuildings2022-05-3104436905core:OtherPropertyPlantEquipment2022-05-31044369052022-05-3104436905core:LandBuildings2022-06-012023-05-3104436905core:OtherPropertyPlantEquipment2022-06-012023-05-3104436905core:WithinOneYear2023-05-3104436905core:WithinOneYear2022-05-3104436905bus:PrivateLimitedCompanyLtd2022-06-012023-05-3104436905bus:SmallCompaniesRegimeForAccounts2022-06-012023-05-3104436905bus:FRS1022022-06-012023-05-3104436905bus:AuditExempt-NoAccountantsReport2022-06-012023-05-3104436905bus:Director22022-06-012023-05-3104436905bus:Director32022-06-012023-05-3104436905bus:FullAccounts2022-06-012023-05-31xbrli:purexbrli:sharesiso4217:GBP