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REGISTERED NUMBER: 02603874 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2023

FOR

KEYMER DOUBLE GLAZING LTD

KEYMER DOUBLE GLAZING LTD (REGISTERED NUMBER: 02603874)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KEYMER DOUBLE GLAZING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2023







DIRECTORS: M J Bonner
K. J. Collins





REGISTERED OFFICE: 225 London Road
Burgess Hill
West Sussex
RH15 9QU





REGISTERED NUMBER: 02603874 (England and Wales)





ACCOUNTANTS: Peter Lawson & Co.
225 London Road
Burgess Hill
West Sussex
RH15 9QU

KEYMER DOUBLE GLAZING LTD (REGISTERED NUMBER: 02603874)

BALANCE SHEET
31ST MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 84,444 59,930
84,444 59,930

CURRENT ASSETS
Stocks 123,097 140,901
Debtors 6 207,436 246,256
Cash at bank and in hand 57,116 112,668
387,649 499,825
CREDITORS
Amounts falling due within one year 7 432,446 446,548
NET CURRENT (LIABILITIES)/ASSETS (44,797 ) 53,277
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,647

113,207

CREDITORS
Amounts falling due after more than one
year

8

(81,566

)

(89,278

)

PROVISIONS FOR LIABILITIES (5,216 ) (2,276 )
NET (LIABILITIES)/ASSETS (47,135 ) 21,653

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (47,235 ) 21,553
SHAREHOLDERS' FUNDS (47,135 ) 21,653

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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.

KEYMER DOUBLE GLAZING LTD (REGISTERED NUMBER: 02603874)

BALANCE SHEET - continued
31ST MAY 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 14th March 2024 and were signed on its behalf by:




M J Bonner - Director



K. J. Collins - Director


KEYMER DOUBLE GLAZING LTD (REGISTERED NUMBER: 02603874)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023

1. STATUTORY INFORMATION

Keymer Double Glazing Ltd 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.

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.

The financial statements are prepared in accordance with applicable accounting standards and under the historical cost convention and include the results of the business' operations, all of which are continuing.
The principle accounting policies, which the directors have adopted, are set out below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, 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 etc - 33% on cost and 25% on reducing balance

Stocks
Stocks and work-in-progress (except long-term contract balances) are stated at the lower of cost and net realisable value. Cost is calculated using the first-in-first-out method and consists of material and direct labour costs together with an appropriate proportion of production overheads.
Long-term contract balances are stated at net cost less foreseeable losses less any applicable payments on account. The amount recorded as turnover in respect of long term contracts is ascertained by reference to the value of work carried out to date. Attributable profit is recognised as the difference between recorded turnover and related costs.

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.


KEYMER DOUBLE GLAZING LTD (REGISTERED NUMBER: 02603874)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

2. ACCOUNTING POLICIES - continued
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.

Going concern
As at 31st May 2023, the company had a net deficiency which may cause doubt on the company's ability to continue as a going concern. The directors, having reviewed future trading, profitability and anticipated activities and financial requirements have a reasonable expectation that the company will continue to operate for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st June 2022
and 31st May 2023 1,201,500
AMORTISATION
At 1st June 2022
and 31st May 2023 1,201,500
NET BOOK VALUE
At 31st May 2023 -
At 31st May 2022 -

KEYMER DOUBLE GLAZING LTD (REGISTERED NUMBER: 02603874)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st June 2022 34,321 159,527 193,848
Additions 12,053 24,100 36,153
Disposals - (84,015 ) (84,015 )
At 31st May 2023 46,374 99,612 145,986
DEPRECIATION
At 1st June 2022 786 133,132 133,918
Charge for year - 8,932 8,932
Eliminated on disposal - (81,308 ) (81,308 )
At 31st May 2023 786 60,756 61,542
NET BOOK VALUE
At 31st May 2023 45,588 38,856 84,444
At 31st May 2022 33,535 26,395 59,930

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 147,432 183,489
Other debtors 60,004 62,767
207,436 246,256

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 242 15,866
Hire purchase contracts 9,042 3,127
Trade creditors 253,937 306,637
Taxation and social security 58,532 51,997
Other creditors 110,693 68,921
432,446 446,548

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 55,000 75,874
Hire purchase contracts 26,566 13,404
81,566 89,278

9. CONTINGENT LIABILITIES

There were no known contingent liabilities as at the Balance sheet date.

KEYMER DOUBLE GLAZING LTD (REGISTERED NUMBER: 02603874)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

10. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements - -

11. RELATED PARTY DISCLOSURES

KDG Management Limited is a company controlled by M Bonner and K Collins and, from 2nd August 2021,
acquired a 76% shareholding in the company. It provides management services in the day to day running of Keymer Double Glazing Limited of which M Bonner and K Collins are directors.

Amounts due to KDG Management Limited at 31st May 2023 - £37,390 (2022 - £14,450 )

Amounts due from KDG Management Limited at 31st May 2023 - £49,696 (2022 - £49,696).

12. ULTIMATE CONTROLLING PARTY

The controlling party is KDG Management Limited.