Company registration number 01359438 (England and Wales)
C.R. WINDOWS (AVON) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
C.R. WINDOWS (AVON) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
C.R. WINDOWS (AVON) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
280,008
264,014
Current assets
Stocks
295,005
296,770
Debtors
5
449,738
512,173
Cash at bank and in hand
572,423
767,483
1,317,166
1,576,426
Creditors: amounts falling due within one year
6
(860,327)
(1,129,608)
Net current assets
456,839
446,818
Total assets less current liabilities
736,847
710,832
Creditors: amounts falling due after more than one year
7
(25,993)
(52,481)
Provisions for liabilities
8
(70,097)
(66,105)
Net assets
640,757
592,246
Capital and reserves
Called up share capital
9
50,000
50,000
Capital redemption reserve
10
10
Profit and loss reserves
590,747
542,236
Total equity
640,757
592,246
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
C.R. WINDOWS (AVON) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 4 October 2024 and are signed on its behalf by:
Mr M A Brown
Mr D P Lancaster
Director
Director
Company registration number 01359438 (England and Wales)
C.R. WINDOWS (AVON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
C.R. Windows (Avon) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 6, Bridge Road Industrial Estate, Bridge Road, Kingswood, Bristol, BS15 4TA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2
Turnover
Turnover represents amounts receivable for the supply of windows and doors net of VAT and trade discounts.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on installation of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
11% - 20% per annum on a straight line basis
Plant and machinery
20% per annum on a reducing balance basis
Fixtures, fittings and equipment
20% per annum on a reducing balance basis
Vehicles
25% per annum on a reducing balance basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.5
Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand and bank overdrafts.
C.R. WINDOWS (AVON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (excluding directors) employed by the company during the year was 25 (2023 - 26).
2024
2023
Number
Number
Total
25
26
C.R. WINDOWS (AVON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023
23,789
784,022
807,811
Additions
100,254
100,254
Disposals
(59,251)
(59,251)
At 31 March 2024
23,789
825,025
848,814
Depreciation and impairment
At 1 April 2023
23,789
520,008
543,797
Depreciation charged in the year
78,907
78,907
Eliminated in respect of disposals
(53,898)
(53,898)
At 31 March 2024
23,789
545,017
568,806
Carrying amount
At 31 March 2024
280,008
280,008
At 31 March 2023
264,014
264,014
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
159,070
214,588
Amounts due from group undertakings
156,505
169,689
Other debtors
134,163
127,896
449,738
512,173
There is no formal loan agreement between the company and its parent company regarding monies outstanding between the two. Accordingly the amount due from CR Windows Holdings Limited is disclosed as repayable within twelve months though practically this is unlikely to be the case.
C.R. WINDOWS (AVON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,228
9,977
Trade creditors
591,438
800,901
Other taxation and social security
176,327
228,670
Other creditors
82,334
90,060
860,327
1,129,608
Other Creditors includes £16,295 (2023 - £23,892) due under Hire Purchase contracts secured on the assets acquired.
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,165
22,358
Other creditors
13,828
30,123
25,993
52,481
Other Creditors includes £13,828 (2023 - £30,123) due under Hire Purchase contracts secured on the assets acquired.
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
70,097
66,105
9
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
50,000 Ordinary shares of £1 each
50,000
50,000