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REGISTERED NUMBER: 03440074 (England and Wales)











Report of the Directors and

Financial Statements for the Year Ended 30 October 2023

for

Sealant & Construction Services Limited

Sealant & Construction Services Limited (Registered number: 03440074)






Contents of the Financial Statements
for the Year Ended 30 October 2023




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Statement of Changes in Equity 6

Notes to the Financial Statements 7


Sealant & Construction Services Limited

Company Information
for the Year Ended 30 October 2023







DIRECTORS: D Rogers
Mrs A J Rogers





SECRETARY: Mrs A J Rogers





REGISTERED OFFICE: Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR





BUSINESS ADDRESS: Boundary Farm
Framsden
Stowmarket
Suffolk
IP14 6LH





REGISTERED NUMBER: 03440074 (England and Wales)





ACCOUNTANTS: Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Sealant & Construction Services Limited (Registered number: 03440074)

Report of the Directors
for the Year Ended 30 October 2023

The directors present their report with the financial statements of the company for the year ended 30 October 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of mastic joint sealing, diamond drilling & cutting and concrete repair.

DIRECTORS
The directors shown below have held office during the whole of the period from 31 October 2022 to the date of this report.

D Rogers
Mrs A J Rogers

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs A J Rogers - Secretary


22 July 2024

Sealant & Construction Services Limited (Registered number: 03440074)

Income Statement
for the Year Ended 30 October 2023

2023 2022
Notes £    £   

TURNOVER 2,348,104 2,355,515

Cost of sales 1,480,230 1,545,572
GROSS PROFIT 867,874 809,943

Administrative expenses 547,502 498,862
320,372 311,081

Other operating income 960 -
OPERATING PROFIT 4 321,332 311,081

Interest receivable and similar income 774 497
322,106 311,578

Interest payable and similar expenses 1,247 694
PROFIT BEFORE TAXATION 320,859 310,884

Tax on profit 5 58,970 60,626
PROFIT FOR THE FINANCIAL YEAR 261,889 250,258

Sealant & Construction Services Limited (Registered number: 03440074)

Balance Sheet
30 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 7 - -
Tangible assets 8 4,943 13,689
4,943 13,689

CURRENT ASSETS
Stocks 40,000 40,000
Debtors 9 477,898 602,357
Cash at bank and in hand 324,346 159,390
842,244 801,747
CREDITORS
Amounts falling due within one year 10 558,507 588,465
NET CURRENT ASSETS 283,737 213,282
TOTAL ASSETS LESS CURRENT LIABILITIES 288,680 226,971

PROVISIONS FOR LIABILITIES 12 96 276
NET ASSETS 288,584 226,695

CAPITAL AND RESERVES
Called up share capital 13 1,000 1,000
Retained earnings 287,584 225,695
SHAREHOLDERS' FUNDS 288,584 226,695

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 October 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.

Sealant & Construction Services Limited (Registered number: 03440074)

Balance Sheet - continued
30 October 2023


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 22 July 2024 and were signed on its behalf by:





Mrs A J Rogers - Director


Sealant & Construction Services Limited (Registered number: 03440074)

Statement of Changes in Equity
for the Year Ended 30 October 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 31 October 2021 1,000 225,437 226,437

Changes in equity
Dividends - (250,000 ) (250,000 )
Total comprehensive income - 250,258 250,258
Balance at 30 October 2022 1,000 225,695 226,695

Changes in equity
Dividends - (200,000 ) (200,000 )
Total comprehensive income - 261,889 261,889
Balance at 30 October 2023 1,000 287,584 288,584

Sealant & Construction Services Limited (Registered number: 03440074)

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

1. STATUTORY INFORMATION

Sealant & Construction Services 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents net invoiced sales of goods and services, excluding value added tax.

Fees are recognised as earned when the company obtains the right to receive consideration in return for its performance under its contracts.

For incomplete contracts, revenue is recognised to reflect the accrual of the right to consideration as contract activity progresses. This amount will reflect the value of the services provided as a proportion of the total value of the contract. Revenue in respect of contingent fee engagements is recognised when the contingent event occurs and recoverability of the fee is assured.

Goodwill
Goodwill was paid in connection with the acquisition of a business in 2004 and was written off over its estimated useful life of one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 6 years straight line

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

Work in progress is valued at the lower of cost together with a proportion of overheads and net realisable value, after making due allowance for obsolete and slow moving items.

Sealant & Construction Services Limited (Registered number: 03440074)

Notes to the Financial Statements - continued
for the Year Ended 30 October 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from banks or other related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Sealant & Construction Services Limited (Registered number: 03440074)

Notes to the Financial Statements - continued
for the Year Ended 30 October 2023

2. ACCOUNTING POLICIES - continued

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.

Impairment
At each reporting date, fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in the income statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 31 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 8,746 8,893

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 59,150 60,697

Deferred tax (180 ) (71 )
Tax on profit 58,970 60,626

UK corporation tax has been charged at 22.50% (2022 - 19%).

6. DIVIDENDS
2023 2022
£    £   
Ordinary shares of £1 each
Interim dividend 200,000 250,000

Sealant & Construction Services Limited (Registered number: 03440074)

Notes to the Financial Statements - continued
for the Year Ended 30 October 2023

7. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 31 October 2022
and 30 October 2023 3,250
AMORTISATION
At 31 October 2022
and 30 October 2023 3,250
NET BOOK VALUE
At 30 October 2023 -
At 30 October 2022 -

8. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 31 October 2022
and 30 October 2023 221,141
DEPRECIATION
At 31 October 2022 207,452
Charge for year 8,746
At 30 October 2023 216,198
NET BOOK VALUE
At 30 October 2023 4,943
At 30 October 2022 13,689

9. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 420,806 499,490
Other debtors 13,015 52,819
433,821 552,309

Amounts falling due after more than one year:
Trade debtors 44,077 50,048

Aggregate amounts 477,898 602,357

Sealant & Construction Services Limited (Registered number: 03440074)

Notes to the Financial Statements - continued
for the Year Ended 30 October 2023

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 53,941 65,276
Amounts owed to group undertakings 311,557 351,204
Taxation and social security 85,121 108,336
Other creditors 107,888 63,649
558,507 588,465

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Amounts owed to parent 311,557 351,204

The above amounts are secured by fixed and floating charges over the assets of the company.

Amounts owed to the directors are secured by fixed charges over the assets of the company.

12. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 96 276

Deferred
tax
£   
Balance at 31 October 2022 276
Utilised during year (180 )
Balance at 30 October 2023 96

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

Sealant & Construction Services Limited (Registered number: 03440074)

Notes to the Financial Statements - continued
for the Year Ended 30 October 2023

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 October 2023 and 30 October 2022:

2023 2022
£    £   
D Rogers and Mrs A J Rogers
Balance outstanding at start of year 29,498 47,337
Amounts advanced 122,226 232,161
Amounts repaid (151,724 ) (250,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 29,498

Interest is charged on overdrawn balances.

15. RELATED PARTY DISCLOSURES

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.