PEERLESS WINDOWS SALES LIMITED

Company Registration Number:
02698641 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

PEERLESS WINDOWS SALES LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

PEERLESS WINDOWS SALES LIMITED

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 38,732 43,982
Total fixed assets: 38,732 43,982
Current assets
Stocks: 20,000 20,000
Debtors:   16,165 23,327
Cash at bank and in hand: 430,813 311,182
Total current assets: 466,978 354,509
Creditors: amounts falling due within one year:   (311,948) (285,091)
Net current assets (liabilities): 155,030 69,418
Total assets less current liabilities: 193,762 113,400
Provision for liabilities: (9,683) (8,357)
Total net assets (liabilities): 184,079 105,043
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 183,979 104,943
Shareholders funds: 184,079 105,043

The notes form part of these financial statements

PEERLESS WINDOWS SALES LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 14 September 2024
and signed on behalf of the board by:

Name: Dr JA Holloway
Status: Director

The notes form part of these financial statements

PEERLESS WINDOWS SALES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sales of goods is recognised when goods are delivered and legal title has passed.

Tangible fixed assets and depreciation policy

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less estimated residual value, over their expected useful lives on the following bases: Plant and machinery 25% per annum reducing balance basis Motor vehicles 25% per annum reducing balance basis Furniture and equipment 15% per annum reducing balance basis Fixtures and fittings 10% per annum reducing balance basis Computer equipment 25% per annum reducing balance basis At each balance sheet date, the Company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Valuation and information policy

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

Other accounting policies

Taxation Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liablity is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Contribution to pension funds The company operates a defined contribution pension scheme and the pension charge represents the amount payable by the company to the fund in respect of the year.

PEERLESS WINDOWS SALES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 11 12

PEERLESS WINDOWS SALES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible Assets

Total
Cost £
At 01 April 2023 108,817
Additions 5,209
Disposals (6,473)
At 31 March 2024 107,553
Depreciation
At 01 April 2023 64,835
Charge for year 9,605
On disposals (5,619)
At 31 March 2024 68,821
Net book value
At 31 March 2024 38,732
At 31 March 2023 43,982