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REGISTERED NUMBER: 06357135 (England and Wales)















Sam Drylining Limited

Unaudited Financial Statements

for the Year Ended 31 August 2023






Sam Drylining Limited (Registered number: 06357135)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sam Drylining Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: S J Perham
G Thomas
A R Davies
A J George
D S Richards





REGISTERED OFFICE: Sam Drylining
Ynyswen Road
Treorchy
Mid Glamorgan
CF42 6EG





REGISTERED NUMBER: 06357135 (England and Wales)





ACCOUNTANTS: O'Brien and Partners
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

Sam Drylining Limited (Registered number: 06357135)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 318,514 300,276
318,514 300,276

CURRENT ASSETS
Stocks 43,000 43,000
Debtors 6 4,173,437 1,671,813
Cash at bank 189,755 1,245,905
4,406,192 2,960,718
CREDITORS
Amounts falling due within one year 7 3,420,364 1,978,859
NET CURRENT ASSETS 985,828 981,859
TOTAL ASSETS LESS CURRENT LIABILITIES 1,304,342 1,282,135

PROVISIONS FOR LIABILITIES 27,662 22,827
NET ASSETS 1,276,680 1,259,308

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,276,580 1,259,208
1,276,680 1,259,308

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Sam Drylining Limited (Registered number: 06357135)

Balance Sheet - continued
31 August 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 12 January 2024 and were signed on its behalf by:




S J Perham - Director



G Thomas - Director


Sam Drylining Limited (Registered number: 06357135)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Sam Drylining Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added tax. Turnover is reduced for estimated customer returns, rebates and allowances. Turnover comprises of sale of goods and rendering of services relating to drylining and is recognised as follows:

Sale of Goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has been transferred to the buyer. This is usually at the point that the customer has singed for the delivery of the goods.

Rendering of Services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Sam Drylining Limited (Registered number: 06357135)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 500,000
AMORTISATION
At 1 September 2022
and 31 August 2023 500,000
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

Sam Drylining Limited (Registered number: 06357135)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 September 2022 190,635 154,196 452,503 797,334
Additions - 9,603 59,170 68,773
Disposals - - (34,335 ) (34,335 )
At 31 August 2023 190,635 163,799 477,338 831,772
DEPRECIATION
At 1 September 2022 - 118,775 378,283 497,058
Charge for year - 14,887 35,648 50,535
Eliminated on disposal - - (34,335 ) (34,335 )
At 31 August 2023 - 133,662 379,596 513,258
NET BOOK VALUE
At 31 August 2023 190,635 30,137 97,742 318,514
At 31 August 2022 190,635 35,421 74,220 300,276

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 31,149 9,648
Amounts owed by group undertakings 999,102 983,886
Other debtors 3,143,186 678,279
4,173,437 1,671,813

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 2,212,581 1,398,949
Amounts owed to group undertakings 582,104 -
Taxation and social security 496,675 303,063
Other creditors 129,004 276,847
3,420,364 1,978,859

8. CONTROLLING PARTY

The controlling party is SAM Holdings (Treorchy) Limited.