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Company No: 05014317 (England and Wales)

R B WINDOWS SOUTH WEST LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

R B WINDOWS SOUTH WEST LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

R B WINDOWS SOUTH WEST LIMITED

BALANCE SHEET

As at 31 March 2024
R B WINDOWS SOUTH WEST LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 121,533 59,992
121,533 59,992
Current assets
Stocks 8,735 8,571
Debtors 5 195,651 126,702
Cash at bank and in hand 85,723 112,586
290,109 247,859
Creditors: amounts falling due within one year 6 ( 152,400) ( 128,216)
Net current assets 137,709 119,643
Total assets less current liabilities 259,242 179,635
Creditors: amounts falling due after more than one year 7 ( 29,596) ( 9,740)
Provision for liabilities ( 19,410) ( 4,301)
Net assets 210,236 165,594
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 210,136 165,494
Total shareholder's funds 210,236 165,594

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.

Director's responsibilities:

The financial statements of R B Windows South West Limited (registered number: 05014317) were approved and authorised for issue by the Director on 12 September 2024. They were signed on its behalf by:

Mr R C Burchell
Director
R B WINDOWS SOUTH WEST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
R B WINDOWS SOUTH WEST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

R B Windows South West 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 55 Fore Street, Torpoint, PL11 2AD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
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 basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 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.

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 Statement of Income and Retained Earnings 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.

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 is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 5 4

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2023 36,500 36,500
At 31 March 2024 36,500 36,500
Accumulated amortisation
At 01 April 2023 36,500 36,500
At 31 March 2024 36,500 36,500
Net book value
At 31 March 2024 0 0
At 31 March 2023 0 0

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 April 2023 39,421 3,049 62,662 8,357 113,489
Additions 0 1,664 95,640 0 97,304
Disposals 0 0 ( 25,469) 0 ( 25,469)
At 31 March 2024 39,421 4,713 132,833 8,357 185,324
Accumulated depreciation
At 01 April 2023 19,133 2,787 23,533 8,044 53,497
Charge for the financial year 2,422 359 11,057 78 13,916
Disposals 0 0 ( 3,622) 0 ( 3,622)
At 31 March 2024 21,555 3,146 30,968 8,122 63,791
Net book value
At 31 March 2024 17,866 1,567 101,865 235 121,533
At 31 March 2023 20,288 262 39,129 313 59,992

5. Debtors

2024 2023
£ £
Trade debtors 39,469 54,974
Other debtors 156,182 71,728
195,651 126,702

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 4,000 3,700
Trade creditors 48,782 42,093
Taxation and social security 59,924 40,278
Obligations under finance leases and hire purchase contracts 9 0
Other creditors 39,685 42,145
152,400 128,216

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 4,667 9,740
Obligations under finance leases and hire purchase contracts 24,929 0
29,596 9,740

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Balance brought forward 41,751 31,915
Advances to director 112,339 117,205
Repayments by director (44,000) (109,000)
Interest charged at the official rate 1,886 1,631
0 0
Balance carried forward 111,976 41,751
0 0