Vacuum Windows Ltd 04491433 false 2022-10-01 2023-09-30 2023-09-30 The principal activity of the company is that of glass grinding and polishing. Digita Accounts Production Advanced 6.30.9574.0 true true 04491433 2022-10-01 2023-09-30 04491433 2023-09-30 04491433 core:RetainedEarningsAccumulatedLosses 2023-09-30 04491433 core:ShareCapital 2023-09-30 04491433 core:CurrentFinancialInstruments 2023-09-30 04491433 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 04491433 core:Goodwill 2023-09-30 04491433 core:FurnitureFittingsToolsEquipment 2023-09-30 04491433 core:OtherPropertyPlantEquipment 2023-09-30 04491433 bus:SmallEntities 2022-10-01 2023-09-30 04491433 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 04491433 bus:FullAccounts 2022-10-01 2023-09-30 04491433 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 04491433 bus:RegisteredOffice 2022-10-01 2023-09-30 04491433 bus:CompanySecretary1 2022-10-01 2023-09-30 04491433 bus:Director1 2022-10-01 2023-09-30 04491433 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 04491433 core:Goodwill 2022-10-01 2023-09-30 04491433 core:ComputerEquipment 2022-10-01 2023-09-30 04491433 core:FurnitureFittingsToolsEquipment 2022-10-01 2023-09-30 04491433 core:OtherPropertyPlantEquipment 2022-10-01 2023-09-30 04491433 core:OtherRelatedParties 2022-10-01 2023-09-30 04491433 countries:EnglandWales 2022-10-01 2023-09-30 04491433 2022-09-30 04491433 core:Goodwill 2022-09-30 04491433 core:FurnitureFittingsToolsEquipment 2022-09-30 04491433 core:OtherPropertyPlantEquipment 2022-09-30 04491433 2021-10-01 2022-09-30 04491433 2022-09-30 04491433 core:RetainedEarningsAccumulatedLosses 2022-09-30 04491433 core:ShareCapital 2022-09-30 04491433 core:CurrentFinancialInstruments 2022-09-30 04491433 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 04491433 core:FurnitureFittingsToolsEquipment 2022-09-30 04491433 core:OtherPropertyPlantEquipment 2022-09-30 iso4217:GBP xbrli:pure

Registration number: 04491433

Vacuum Windows Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Vacuum Windows Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Vacuum Windows Ltd

Company Information

Director

W R Beecham

Company secretary

H Beecham

Registered office

7 Wellington Square
Hastings
East Sussex
TN34 1PD

Accountants

Manningtons
7 Wellington Square
Hastings
East Sussex
TN34 1PD

 

Vacuum Windows Ltd

(Registration number: 04491433)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

11,546

14,335

Current assets

 

Stocks

6

4,000

5,000

Debtors

7

755,262

307,263

Cash at bank and in hand

 

127,126

474,989

 

886,388

787,252

Creditors: Amounts falling due within one year

8

(67,497)

(75,818)

Net current assets

 

818,891

711,434

Total assets less current liabilities

 

830,437

725,769

Provisions for liabilities

(2,102)

(2,670)

Net assets

 

828,335

723,099

Capital and reserves

 

Called up share capital

100

100

Retained earnings

828,235

722,999

Shareholders' funds

 

828,335

723,099

 

Vacuum Windows Ltd

(Registration number: 04491433)
Balance Sheet as at 30 September 2023

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 February 2024
 

.........................................
W R Beecham
Director

 

Vacuum Windows Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Wellington Square
Hastings
East Sussex
TN34 1PD
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Vacuum Windows Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixture, Fittings and Equipment

25% Reducing Balance

Computer Equipment

3 years straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20 years Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

 

Vacuum Windows Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 4).

 

Vacuum Windows Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2022

10,000

10,000

At 30 September 2023

10,000

10,000

Amortisation

At 1 October 2022

10,000

10,000

At 30 September 2023

10,000

10,000

Carrying amount

At 30 September 2023

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2022

153,832

-

153,832

Additions

1,119

1,046

2,165

At 30 September 2023

154,951

1,046

155,997

Depreciation

At 1 October 2022

139,497

-

139,497

Charge for the year

4,954

-

4,954

At 30 September 2023

144,451

-

144,451

Carrying amount

At 30 September 2023

10,500

1,046

11,546

At 30 September 2022

14,335

-

14,335

6

Stocks

2023
£

2022
£

Other inventories

4,000

5,000

 

Vacuum Windows Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

7

Debtors

Note

2023
£

2022
£

Trade debtors

 

80,262

56,562

Amounts owed by group undertakings and undertakings in which the company has a participating interest

9

675,000

250,000

Director loan account

 

-

701

 

755,262

307,263

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

61,748

73,831

Accruals and deferred income

1,300

1,300

Other creditors

13

687

Director loan account

4,436

-

67,497

75,818

9

Related party transactions

Summary of transactions with other related parties

Beecham Properties South Ltd - Mr W Beecham is Director of both companies.

 Intercompany loan of £675,000 to Beecham Properties South Ltd