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REGISTERED NUMBER: 12280391 (England and Wales)















Specialist Facade Inspections Ltd

Unaudited Financial Statements

for the Year Ended 31 October 2023






Specialist Facade Inspections Ltd (Registered number: 12280391)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Specialist Facade Inspections Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTOR: J J Tedstone





REGISTERED OFFICE: Newbridge Police Station
Highstreet
Newbridge
NP11 4FW





REGISTERED NUMBER: 12280391 (England and Wales)





ACCOUNTANTS: O'Brien and Partners
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

Specialist Facade Inspections Ltd (Registered number: 12280391)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 437,703 138,477

CURRENT ASSETS
Stocks 413,800 43,800
Debtors 5 1,074,010 680,155
Cash at bank and in hand 7,743 84,479
1,495,553 808,434
CREDITORS
Amounts falling due within one year 6 1,527,884 794,658
NET CURRENT (LIABILITIES)/ASSETS (32,331 ) 13,776
TOTAL ASSETS LESS CURRENT
LIABILITIES

405,372

152,253

CREDITORS
Amounts falling due after more than one year 7 (293,764 ) (78,021 )

PROVISIONS FOR LIABILITIES 10 (20,837 ) (11,914 )
NET ASSETS 90,771 62,318

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 90,671 62,218
SHAREHOLDERS' FUNDS 90,771 62,318

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 October 2024 and were signed by:





J J Tedstone - Director


Specialist Facade Inspections Ltd (Registered number: 12280391)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Specialist Facade Inspections Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company meets its working capital requirements through the ongoing support of its director. If this support is removed, it may not be appropriate for the financial statements to be prepared on a going concern basis and as such the company's assets and liabilities may have to be restated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Specialist Facade Inspections Ltd (Registered number: 12280391)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 3,804 12,095 199,972 117 215,988
Additions 13,974 2,349 421,723 958 439,004
Disposals - - (121,926 ) - (121,926 )
At 31 October 2023 17,778 14,444 499,769 1,075 533,066
DEPRECIATION
At 1 November 2022 851 2,416 74,227 17 77,511
Charge for year 3,051 2,775 44,002 199 50,027
Eliminated on disposal - - (32,175 ) - (32,175 )
At 31 October 2023 3,902 5,191 86,054 216 95,363
NET BOOK VALUE
At 31 October 2023 13,876 9,253 413,715 859 437,703
At 31 October 2022 2,953 9,679 125,745 100 138,477

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2022 199,972
Additions 398,024
Disposals (121,926 )
At 31 October 2023 476,070
DEPRECIATION
At 1 November 2022 74,227
Charge for year 40,647
Eliminated on disposal (32,175 )
At 31 October 2023 82,699
NET BOOK VALUE
At 31 October 2023 393,371
At 31 October 2022 125,745

Specialist Facade Inspections Ltd (Registered number: 12280391)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. DEBTORS
31.10.23 31.10.22
£    £   
Amounts falling due within one year:
Trade debtors 413,508 361,156
Other debtors 643,784 302,281
1,057,292 663,437

Amounts falling due after more than one year:
Trade debtors 16,718 16,718

Aggregate amounts 1,074,010 680,155

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts (see note 8) 8,137 7,772
Hire purchase contracts 55,750 18,386
Trade creditors 555,005 238,147
Taxation and social security 867,491 478,544
Other creditors 41,501 51,809
1,527,884 794,658

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans (see note 8) 13,672 21,810
Hire purchase contracts 280,092 56,211
293,764 78,021

8. LOANS

An analysis of the maturity of loans is given below:

31.10.23 31.10.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 8,137 7,772

Amounts falling due between one and two years:
Bank loans - 1-2 years 8,519 8,137

Amounts falling due between two and five years:
Bank loans - 2-5 years 5,153 13,673

Specialist Facade Inspections Ltd (Registered number: 12280391)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Hire purchase contracts 335,842 74,597

Hire purchase is secured over the assets.

10. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax 20,837 11,914

Deferred
tax
£   
Balance at 1 November 2022 11,914
Charge to Income Statement during year 8,923
Balance at 31 October 2023 20,837

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
J J Tedstone
Balance outstanding at start of year (22,403 ) (37,919 )
Amounts advanced 42,794 15,936
Amounts repaid (13,147 ) (420 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,244 (22,403 )

The balance is repayable on demand.