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COMPANY REGISTRATION NUMBER: 08089010
STROUD VALLEY WINDOWS LIMITED
Filleted Unaudited Abridged Financial Statements
31 May 2024
STROUD VALLEY WINDOWS LIMITED
Abridged Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
12,210
18,315
Current assets
Debtors
( 300)
499
Cash at bank and in hand
2,143
2,733
-------
-------
1,843
3,232
Creditors: amounts falling due within one year
8,180
11,000
-------
--------
Net current liabilities
6,337
7,768
--------
--------
Total assets less current liabilities
5,873
10,547
Creditors: amounts falling due after more than one year
5,000
7,500
-------
--------
Net assets
873
3,047
-------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
872
3,046
----
-------
Shareholders funds
873
3,047
----
-------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 May 2024 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 abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.
STROUD VALLEY WINDOWS LIMITED
Abridged Statement of Financial Position (continued)
31 May 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 29 July 2024 , and are signed on behalf of the board by:
W BRADLEY
Director
Company registration number: 08089010
STROUD VALLEY WINDOWS LIMITED
Notes to the Abridged Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Eight Bells House, 14 Church Street, Tetbury, Gloucestershire, GL8 8JG.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Equipment
-
25% straight line
Motor Vehicles
-
25% straight line
Office Equipment
-
25% straight line
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
£
Cost
At 1 June 2023 and 31 May 2024
25,560
--------
Depreciation
At 1 June 2023
7,245
Charge for the year
6,105
--------
At 31 May 2024
13,350
--------
Carrying amount
At 31 May 2024
12,210
--------
At 31 May 2023
18,315
--------
6. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
W BRADLEY
( 7,178)
2,716
( 4,462)
-------
-------
-------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
W BRADLEY
855
( 8,033)
( 7,178)
----
-------
-------
7. Related party transactions
The company was under the control of Mr W Bradley throughout the current and previous year.