Elite Windows (South Yorkshire) Limited 05407528 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the selling and installation of windows, doors and conservatories Digita Accounts Production Advanced 6.30.9574.0 true 05407528 2023-04-01 2024-03-31 05407528 2024-03-31 05407528 core:RetainedEarningsAccumulatedLosses 2024-03-31 05407528 core:ShareCapital 2024-03-31 05407528 core:CurrentFinancialInstruments 2024-03-31 05407528 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05407528 core:Non-currentFinancialInstruments 2024-03-31 05407528 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 05407528 core:FurnitureFittingsToolsEquipment 2024-03-31 05407528 core:MotorVehicles 2024-03-31 05407528 bus:SmallEntities 2023-04-01 2024-03-31 05407528 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05407528 bus:FilletedAccounts 2023-04-01 2024-03-31 05407528 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05407528 bus:RegisteredOffice 2023-04-01 2024-03-31 05407528 bus:Director1 2023-04-01 2024-03-31 05407528 bus:Director3 2023-04-01 2024-03-31 05407528 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05407528 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 05407528 core:MotorVehicles 2023-04-01 2024-03-31 05407528 core:OfficeEquipment 2023-04-01 2024-03-31 05407528 core:PlantMachinery 2023-04-01 2024-03-31 05407528 countries:EnglandWales 2023-04-01 2024-03-31 05407528 2023-03-31 05407528 core:FurnitureFittingsToolsEquipment 2023-03-31 05407528 core:MotorVehicles 2023-03-31 05407528 2022-04-01 2023-03-31 05407528 2023-03-31 05407528 core:RetainedEarningsAccumulatedLosses 2023-03-31 05407528 core:ShareCapital 2023-03-31 05407528 core:CurrentFinancialInstruments 2023-03-31 05407528 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05407528 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-03-31 05407528 core:Non-currentFinancialInstruments 2023-03-31 05407528 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 05407528 core:FurnitureFittingsToolsEquipment 2023-03-31 05407528 core:MotorVehicles 2023-03-31 05407528 core:PreviouslyStatedAmount 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 05407528

Elite Windows (South Yorkshire) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Elite Windows (South Yorkshire) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Elite Windows (South Yorkshire) Limited

(Registration number: 05407528)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

17,736

23,575

Current assets

 

Stocks

5

16,898

20,830

Debtors

6

49,419

28,282

Cash at bank and in hand

 

222,226

245,243

 

288,543

294,355

Creditors: Amounts falling due within one year

7

(206,676)

(196,411)

Net current assets

 

81,867

97,944

Total assets less current liabilities

 

99,603

121,519

Creditors: Amounts falling due after more than one year

7

(11,667)

(23,334)

Provisions for liabilities

(4,434)

(4,479)

Net assets

 

83,502

93,706

Capital and reserves

 

Called up share capital

6

6

Retained earnings

83,496

93,700

Shareholders' funds

 

83,502

93,706

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 August 2024 and signed on its behalf by:
 

 

Elite Windows (South Yorkshire) Limited

(Registration number: 05407528)
Balance Sheet as at 31 March 2024

.........................................
Mr J L Vincent
Director

.........................................
Mr C A Smith
Director

 

Elite Windows (South Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9 Thorne Road
Doncaster
South Yorkshire
DN1 2HJ

These financial statements were authorised for issue by the Board on 27 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Elite Windows (South Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Office equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Elite Windows (South Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Elite Windows (South Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 3).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

9,142

52,914

62,056

At 31 March 2024

9,142

52,914

62,056

Depreciation

At 1 April 2023

7,919

30,562

38,481

Charge for the year

250

5,589

5,839

At 31 March 2024

8,169

36,151

44,320

Carrying amount

At 31 March 2024

973

16,763

17,736

At 31 March 2023

1,223

22,352

23,575

5

Stocks

2024
£

2023
£

Work in progress

15,352

19,372

Other inventories

1,546

1,458

16,898

20,830

6

Debtors

2024
£

2023
£

Trade debtors

48,666

23,753

Other debtors

-

1,655

Prepayments

753

2,874

49,419

28,282

 

Elite Windows (South Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

10,000

8,333

Trade creditors

 

82,696

85,560

Amounts owed to related parties

87,882

70,557

Taxation and social security

 

4,107

3,942

Corporation tax

 

19,214

25,308

Accrued expenses

 

2,777

2,711

 

206,676

196,411

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

11,667

23,334

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

11,667

23,334

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

8,333