Silverfin false false 31/12/2023 01/01/2023 31/12/2023 L A Charles 01/10/1996 10 September 2024 The principal activity of the Company during the financial year was manufacturing, supply and installation of
commercial and domestic windows and doors.
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Company No: 01166973 (England and Wales)

FOCUS WINDOWS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

FOCUS WINDOWS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

FOCUS WINDOWS LIMITED

BALANCE SHEET

As at 31 December 2023
FOCUS WINDOWS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,670,535 556,738
1,670,535 556,738
Current assets
Stocks 4 242,000 285,000
Debtors 5 330,825 259,368
Cash at bank and in hand 4,112 9,847
576,937 554,215
Creditors: amounts falling due within one year 6 ( 566,123) ( 477,890)
Net current assets 10,814 76,325
Total assets less current liabilities 1,681,349 633,063
Provision for liabilities ( 290,060) ( 6,507)
Net assets 1,391,289 626,556
Capital and reserves
Called-up share capital 7 32,000 32,000
Revaluation reserve 316,820 316,820
Profit and loss account 1,042,469 277,736
Total shareholder's funds 1,391,289 626,556

For the financial year ending 31 December 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 financial statements of Focus Windows Limited (registered number: 01166973) were approved and authorised for issue by the Director on 10 September 2024. They were signed on its behalf by:

L A Charles
Director
FOCUS WINDOWS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
FOCUS WINDOWS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Focus Windows Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 1 , The Technology Centre, London Road, Swanley, BR8 7AN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 13 21

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 January 2023 1,000,000 354,442 1,354,442
Additions 1,141,584 0 1,141,584
At 31 December 2023 2,141,584 354,442 2,496,026
Accumulated depreciation
At 01 January 2023 471,584 326,120 797,704
Charge for the financial year 20,000 7,787 27,787
At 31 December 2023 491,584 333,907 825,491
Net book value
At 31 December 2023 1,650,000 20,535 1,670,535
At 31 December 2022 528,416 28,322 556,738

4. Stocks

2023 2022
£ £
Stocks 140,000 120,000
Work in progress 102,000 165,000
242,000 285,000

5. Debtors

2023 2022
£ £
Trade debtors 66,266 84,019
Amounts owed by Parent undertakings 120,867 120,867
Other debtors 143,692 54,482
330,825 259,368

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank overdrafts 325,992 100,852
Trade creditors 190,040 322,937
Other taxation and social security 22,998 20,454
Other creditors 27,093 33,647
566,123 477,890

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
32,000 Ordinary shares of £ 1.00 each 32,000 32,000

The profit and loss account includes £858,032 of non-distributable reserves relating to the
revaluation of investment properties and listed investments

8. Related party transactions

The company has taken advantage of the exemption in FRS 102 1A C.35 "Related Party Disclosures" from disclosing transactions with other members of the group.

9. Off Balance Sheet arrangements

The total amount of financial commitments not included in the balance sheet is £25,875 (2022 - £14,028)