01 June 2022 31 May 2023 No principle activity is included 07529576 2022-06-01 07529576 2023-05-31 07529576 2022-06-01 2023-05-31 07529576 2022-05-31 07529576 2021-06-01 2022-05-31 07529576 uk-core:WithinOneYear 2023-05-31 07529576 uk-core:WithinOneYear 2022-05-31 07529576 uk-core:AfterOneYear 2023-05-31 07529576 uk-core:AfterOneYear 2022-05-31 07529576 uk-core:ShareCapital 2023-05-31 07529576 uk-core:ShareCapital 2022-05-31 07529576 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 07529576 uk-core:RetainedEarningsAccumulatedLosses 2022-05-31 07529576 uk-bus:Director1 2022-06-01 2023-05-31 07529576 uk-curr:PoundSterling 2022-06-01 2023-05-31 07529576 uk-core:PlantMachinery 2022-06-01 2023-05-31 07529576 uk-core:Vehicles 2022-06-01 2023-05-31 07529576 uk-core:FurnitureFittings 2022-06-01 2023-05-31 07529576 uk-core:OfficeEquipment 2022-06-01 2023-05-31 07529576 uk-core:VehiclesPlantMachinery 2022-05-31 07529576 uk-core:FurnitureFittingsToolsEquipment 2022-05-31 07529576 uk-core:VehiclesPlantMachinery 2022-06-01 2023-05-31 07529576 uk-core:FurnitureFittingsToolsEquipment 2022-06-01 2023-05-31 07529576 uk-core:VehiclesPlantMachinery 2023-05-31 07529576 uk-core:FurnitureFittingsToolsEquipment 2023-05-31 07529576 uk-core:BetweenTwoFiveYears 2023-05-31 07529576 uk-core:BetweenTwoFiveYears 2022-05-31 07529576 uk-bus:FRS102 2022-06-01 2023-05-31 07529576 uk-bus:FullAccounts 2022-06-01 2023-05-31 07529576 uk-bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 07529576 uk-bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  SPECIALIST SCREED (FLOORING) SOLUTIONS LIMITED
   
   
   
  UNAUDITED FINANCIAL STATEMENTS
   
   
  FOR THE YEAR ENDED 31 MAY 2023
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  SPECIALIST SCREED (FLOORING) SOLUTIONS LIMITED
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 MAY 2023
       
       
  DIRECTOR
       
  Mr N Brennan
       
       
  SECRETARY
       
  Mrs M Brennan
       
  REGISTERED OFFICE
       
  East Malling Enterprise Centre
New Road
East Malling
Kent ME19 6BJ
       
       
  COMPANY REGISTERED NUMBER
       
  07529576
       
       
  BANKERS
       
  Natwest Bank plc
       
       
  ACCOUNTANTS
       
  Haartwells Limited
  Chartered Certified Accountants
  25 Park Street West
Luton
LU1 3BE
  page 1
  SPECIALIST SCREED (FLOORING) SOLUTIONS LIMITED
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 MAY 2023
       
       
       
       
  CONTENTS
       
  Pages
       
       
  3-4 Statement of Financial Position  
       
       
  5-8 Notes to the Financial Statements  
       
     
  page 2
  SPECIALIST SCREED (FLOORING) SOLUTIONS LIMITED
  Company registered number: 07529576
  STATEMENT OF FINANCIAL POSITION AT 31 May 2023
           
    Note 2023 2022
      £ £ £
  FIXED ASSETS
  Plant and equipment 3 54,268 69,549
  CURRENT ASSETS    
  Debtors 4 507,764 532,955
  Cash at bank and in hand   111,693 85,857
      619,457 618,812
  CREDITORS: Amounts falling due within one year 5 154,706 193,823
  NET CURRENT ASSETS   464,751 424,989
  TOTAL ASSETS LESS CURRENT LIABILITIES   519,019 494,538
           
  CREDITORS: Amounts falling due after more than one year 6 (19,352) (29,352)
           
  PROVISIONS FOR LIABILITIES   - (3,920)
  NET ASSETS   £499,667 £461,266
       
  CAPITAL AND RESERVES
  Called up share capital   100 100
  Retained earnings   499,567 461,166
  SHAREHOLDERS' FUNDS   £499,667 £461,266
       
  The notes on pages 5-8 form part of these financial statements
   
  page 3
  SPECIALIST SCREED (FLOORING) SOLUTIONS LIMITED
  Company registered number: 07529576
  STATEMENT OF FINANCIAL POSITION AT 31 May 2023 (CONT.)
           
    Note 2023 2022
      £ £ £
       
       
  In approving these financial statements as director of the company I hereby confirm the following:
       
  For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
       
  The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with section 476 of the Companies Act 2006.
       
  The directors acknowledge their responsibilities for: 1) ensuring that the company keeps accounting records which comply with Sections 386 and 386 of the Companies Act 2006, and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the 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 the financial statements, so far as they are applicable to the company.
 
 
  These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
       
  The financial statements were approved and authorised for issue by the board of directors on 23 February 2024
 
  Signed on behalf of the board of directors
 
 
       
  Mr N Brennan, Director
       
       
  The notes on pages 5-8 form part of these financial statements
   
  page 4
  SPECIALIST SCREED (FLOORING) SOLUTIONS LIMITED
  NOTES TO THE ACCOUNTS
  FOR THE YEAR ENDED 31 MAY 2023
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
         
1a. Statement of compliance
         
  Specialist Screed (Flooring) Solutions Limited is a Private limited company incorporated in England & Wales.
         
  The company's registered number and registered office address can be found on the Company Information page.
         
  These financial statements are the first financial statements that comply with FRS 102. The date of transition is 1 June 2022.
         
  The transition to FRS 102 has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in notes and below. These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
         
 
         
  Basis of accounting
         
 
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
         
1c. Revenue recognition
         
  Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
         
1d. Borrowing costs
         
  Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
         
 
  The notes on pages 5-8 form part of these financial statements
   
  page 5
  SPECIALIST SCREED (FLOORING) SOLUTIONS LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MAY 2023
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1e. Taxation
         
  Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
         
 
         
 
       
1f. Property, plant and equipment
       
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
       
  Plant and machinery Reducing balance 25%  
  Vehicles Reducing balance 25%  
  Fixtures and fittings Reducing balance 15%  
  Equipment Reducing balance 15%  
         
1g. Short term debtors and creditors
         
  Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.
         
         
1h. Cash and cash equivalents
         
  Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. For the purpose of statement of cash flows, bank overdrafts which are repayable on demand form an integral part of the Company's cash management are included as a component of cash and cash equivalents.
         
 
         
1i. Interest bearing borrowings
         
  All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. Any difference between the amount initially recognised and redemption value is recognised in profit and loss together with any interest and fees payable.
         
  The notes on pages 5-8 form part of these financial statements
   
  page 6
  SPECIALIST SCREED (FLOORING) SOLUTIONS LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MAY 2023
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1j. Leased assets
         
  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 are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful life. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.
         
 
         
       
       
2. DIRECTORS AND EMPLOYEES
       
  The average weekly number of employees during the year were as follows:
    2023 2022
       
  Management and administration 1 1
  Production and sales 3 1
    4 2
   
         
3. PROPERTY, PLANT AND EQUIPMENT
    Plant & Fixtures &  
    Machinery Equipment Total
    £ £ £
  Cost
         
  At 1 June 2022 377,496 42,204 419,700
  Additions other than through business combinations - 708 708
         
  At 31 May 2023 377,496 42,912 420,408
   
  Depreciation
         
  At 1 June 2022 322,987 27,164 350,151
  For the year 13,627 2,362 15,989
  At 31 May 2023 336,614 29,526 366,140
   
  Net Book Amounts
         
  At 31 May 2023 40,882 13,386 54,268
  At 31 May 2022 54,509 15,040 69,549
   
  The notes on pages 5-8 form part of these financial statements
   
  page 7
  SPECIALIST SCREED (FLOORING) SOLUTIONS LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MAY 2023
       
       
4. DEBTORS 2023 2022
    £ £
  Trade debtors 436,929 288,478
  Social security and other taxes 70,835 244,477
    £507,764 £532,955
   
       
       
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    2023 2022
    £ £
  Bank loans and overdrafts 10,648 10,648
  Trade creditors 71,497 92,947
  Corporation tax 45,735 42,400
  Other taxes and social security 24,550 -
  Other creditors 2,276 2,507
  Accruals and deferred income - 45,321
    £154,706 £193,823
   
       
       
       
6. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
    2023 2022
    £ £
  Bank loans and overdrafts 19,352 29,352
    £19,352 £29,352
   
       
       
  Analysis of borrowings:
       
  Due within five years:
  within 1 year
  bank 10,648 10,648
  within 2-5 years
  bank 19,352 29,352
    £30,000 £40,000
   
  The notes on pages 5-8 form part of these financial statements
   
  page 8