2022-04-012023-03-312023-03-31false05094202TEAM VALLEY WINDOWS AND CONSERVATORIES 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TEAM VALLEY WINDOWS AND CONSERVATORIES LIMITED

Registered Number
05094202
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

TEAM VALLEY WINDOWS AND CONSERVATORIES LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

VAUGHAN, Andrew
VAUGHAN, Thomas James

Company Secretary

VAUGHAN, Andrew

Registered Address

190 Kingsway South
Team Valley Trading Estate
Gateshead
NE11 0SH

Registered Number

05094202 (England and Wales)
TEAM VALLEY WINDOWS AND CONSERVATORIES LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets542,24040,225
42,24040,225
Current assets
Stocks627,00019,100
Debtors775,09135,680
Cash at bank and on hand-51,971
102,091106,751
Creditors amounts falling due within one year8(120,158)(121,643)
Net current assets (liabilities)(18,067)(14,892)
Total assets less current liabilities24,17325,333
Creditors amounts falling due after one year9(24,063)(41,765)
Net assets110(16,432)
Capital and reserves
Called up share capital100100
Profit and loss account10(16,532)
Shareholders' funds110(16,432)
The financial statements were approved and authorised for issue by the Board of Directors on 20 November 2023, and are signed on its behalf by:
VAUGHAN, Andrew
Director
VAUGHAN, Thomas James
Director

Registered Company No. 05094202
TEAM VALLEY WINDOWS AND CONSERVATORIES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
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.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year66
5.Property, plant and equipment

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 April 2263,67869,484133,162
Additions14,78515,49530,280
Disposals-(18,240)(18,240)
At 31 March 2378,46366,739145,202
Depreciation and impairment
At 01 April 2246,53846,39992,937
Charge for year5,99811,32317,321
On disposals-(7,296)(7,296)
At 31 March 2352,53650,426102,962
Net book value
At 31 March 2325,92716,31342,240
At 31 March 2217,14023,08540,225
6.Stocks

2023

2022

££
Work in progress27,00019,100
Total27,00019,100
7.Debtors

2023

2022

££
Trade debtors / trade receivables1,24810,371
Amounts owed by associates and joint ventures / participating interests32,991-
Other debtors40,85225,309
Total75,09135,680
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.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables81,50387,267
Bank borrowings and overdrafts9,5007,986
Taxation and social security22,31119,290
Finance lease and HP contracts-6,000
Other creditors5,794-
Accrued liabilities and deferred income1,0501,100
Total120,158121,643
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.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts24,06335,277
Other creditors-6,488
Total24,06341,765
10.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts-6,488