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REGISTERED NUMBER: 10600718 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

STORM VENTILATION SUPPLIES LTD

STORM VENTILATION SUPPLIES LTD (REGISTERED NUMBER: 10600718)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STORM VENTILATION SUPPLIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr B T Raven
Mr R J Murphy
Mr J L Kemp



REGISTERED OFFICE: White House Farm
Workhouse Lane
Burbage
Leicestershire
LE10 3AS



REGISTERED NUMBER: 10600718 (England and Wales)



SENIOR STATUTORY AUDITOR: Philip Ward



AUDITORS: Lowson Ward Limited
292 Wake Green Road
Birmingham
B13 9QP

STORM VENTILATION SUPPLIES LTD (REGISTERED NUMBER: 10600718)

BALANCE SHEET
31 MARCH 2024

31/3/24 31/3/23
Notes £    £   
FIXED ASSETS
Tangible assets 3 761,705 786,813

CURRENT ASSETS
Stocks 731,295 837,896
Debtors 4 4,034,799 3,798,225
Cash at bank 480,515 816,492
5,246,609 5,452,613
CREDITORS
Amounts falling due within one year 5 (4,169,182 ) (4,500,020 )
NET CURRENT ASSETS 1,077,427 952,593
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,839,132

1,739,406

CREDITORS
Amounts falling due after more than
one year

6

(9,884

)

(41,652

)

PROVISIONS FOR LIABILITIES 9 (126,120 ) (132,200 )
NET ASSETS 1,703,128 1,565,554

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 1,703,122 1,565,548
SHAREHOLDERS' FUNDS 1,703,128 1,565,554

STORM VENTILATION SUPPLIES LTD (REGISTERED NUMBER: 10600718)

BALANCE SHEET - continued
31 MARCH 2024


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 26 July 2024 and were signed on its behalf by:





Mr B T Raven - Director


STORM VENTILATION SUPPLIES LTD (REGISTERED NUMBER: 10600718)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. 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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - at variable rates on reducing balance
Plant and machinery - 20% p.a. reducing balance
Motor vehicles - 25% p.a. reducing balance
Equipment - 40% p.a. reducing balance

All fixed assets are initially recorded at cost.

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

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.

STORM VENTILATION SUPPLIES LTD (REGISTERED NUMBER: 10600718)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

1. 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.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 86 (2023 - 71 ) .

STORM VENTILATION SUPPLIES LTD (REGISTERED NUMBER: 10600718)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 249,265 470,937 392,377 48,301 1,160,880
Additions - 40,467 91,382 5,827 137,676
Disposals - - (22,545 ) - (22,545 )
At 31 March 2024 249,265 511,404 461,214 54,128 1,276,011
DEPRECIATION
At 1 April 2023 - 173,423 171,459 29,185 374,067
Charge for year - 67,596 75,699 9,978 153,273
Eliminated on disposal - - (13,034 ) - (13,034 )
At 31 March 2024 - 241,019 234,124 39,163 514,306
NET BOOK VALUE
At 31 March 2024 249,265 270,385 227,090 14,965 761,705
At 31 March 2023 249,265 297,514 220,918 19,116 786,813

Included in cost of land and buildings is freehold land of £ 249,265 (2023 - £ 249,265 ) which is not depreciated.

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 3,797,314 3,594,419
Other debtors 2,380 -
Prepayments 235,105 203,806
4,034,799 3,798,225

STORM VENTILATION SUPPLIES LTD (REGISTERED NUMBER: 10600718)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Hire purchase contracts (see note 7) 33,350 59,339
Trade creditors 3,377,823 3,689,449
Corporation tax 180,544 244,702
PAYE and NIC 53,830 47,486
VAT 251,893 197,185
Other creditors 8,855 8,190
Directors' current accounts 225,000 225,000
Accrued expenses 37,887 28,669
4,169,182 4,500,020

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/24 31/3/23
£    £   
Hire purchase contracts (see note 7) 9,884 41,652

7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31/3/24 31/3/23
£    £   
Net obligations repayable:
Within one year 33,350 59,339
Between one and five years 9,884 41,652
43,234 100,991

Non-cancellable operating leases
31/3/24 31/3/23
£    £   
Within one year 18,189 -
Between one and five years 1,296,195 248,977
In more than five years 49,077 183,371
1,363,461 432,348

STORM VENTILATION SUPPLIES LTD (REGISTERED NUMBER: 10600718)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31/3/24 31/3/23
£    £   
Hire purchase contracts 43,234 100,991

9. PROVISIONS FOR LIABILITIES
31/3/24 31/3/23
£    £   
Deferred tax
Accelerated capital allowances 126,120 132,200

Deferred
tax
£   
Balance at 1 April 2023 132,200
Provided during year (6,080 )
Balance at 31 March 2024 126,120

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Philip Ward (Senior Statutory Auditor)
for and on behalf of Lowson Ward Limited