Registered number
03168373
Solent Blind & Curtain Company Ltd.
Filleted Accounts
30 April 2024
Solent Blind & Curtain Company Ltd.
Registered number: 03168373
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 440,621 187,285
Current assets
Stocks 67,518 69,643
Debtors 4 174,793 94,103
Cash at bank and in hand 254,777 405,218
497,088 568,964
Creditors: amounts falling due within one year 5 (133,280) (143,984)
Net current assets 363,808 424,980
Total assets less current liabilities 804,429 612,265
Provisions for liabilities (1,243) (8,964)
Net assets 803,186 603,301
Capital and reserves
Called up share capital 10 10
Revaluation reserve 6 98,766 -
Profit and loss account 704,410 603,291
Shareholders' funds 803,186 603,301
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs C Chaplin
Director
Approved by the board on 12 September 2024
Solent Blind & Curtain Company Ltd.
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings
Plant and machinery etc 15% Reducing balance and various rates on cost
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 22 19
including directors
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 302,134 136,833 53,238 492,205
Additions 2,408 5,001 - 7,409
Surplus on revaluation 97,454 - - 97,454
At 30 April 2024 401,996 141,834 53,238 597,068
Depreciation
At 1 May 2023 161,500 107,343 36,077 304,920
Charge for the year - 5,758 7,269 13,027
Surplus on revaluation (161,500) - - (161,500)
At 30 April 2024 - 113,101 43,346 156,447
Net book value
At 30 April 2024 401,996 28,733 9,892 440,621
At 30 April 2023 140,634 29,490 17,161 187,285
4 Debtors 2024 2023
£ £
Trade debtors 135,278 63,351
Other debtors 39,515 30,752
174,793 94,103
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 62,043 43,841
Taxation and social security costs 31,627 50,171
Other creditors 39,610 49,972
133,280 143,984
6 Revaluation reserve 2024 2023
£ £
Gain on revaluation of land and buildings 97,454 -
Deferred taxation arising on the revaluation of land and buildings 1,312 -
At 30 April 2024 98,766 -
7 Other information
Solent Blind & Curtain Company Ltd. is a private company limited by shares and incorporated in England. Its registered office is:
Unit 7
Stanton Industrial Estate
Mill Road Regent Park
Southampton Hants
SO15 4JA
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