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COMPANY REGISTRATION NUMBER: 08367074
Surefit Ceiling Tiles Limited
Filleted Unaudited Financial Statements
31 January 2024
Surefit Ceiling Tiles Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
280
350
Current assets
Stocks
1,126
495
Debtors
5
34,902
35,017
--------
--------
36,028
35,512
Creditors: amounts falling due within one year
6
36,253
37,803
--------
--------
Net current liabilities
225
2,291
----
-------
Total assets less current liabilities
55
( 1,941)
Provisions
Taxation including deferred tax
267
267
----
-------
Net liabilities
( 212)
( 2,208)
----
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 312)
( 2,308)
----
-------
Shareholders deficit
( 212)
( 2,208)
----
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Surefit Ceiling Tiles Limited
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 21 August 2024 , and are signed on behalf of the board by:
Mr B Bomsztyk
Director
Company registration number: 08367074
Surefit Ceiling Tiles Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Agincourt Villas, Uxbridge Road, Hillingdon, Middlesex, UB10 0NX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Tangible assets
Equipment
Total
£
£
Cost
At 1 February 2023 and 31 January 2024
2,085
2,085
-------
-------
Depreciation
At 1 February 2023
1,735
1,735
Charge for the year
70
70
-------
-------
At 31 January 2024
1,805
1,805
-------
-------
Carrying amount
At 31 January 2024
280
280
-------
-------
At 31 January 2023
350
350
-------
-------
5. Debtors
2024
2023
£
£
Trade debtors
4,768
4,768
Other debtors
30,134
30,249
--------
--------
34,902
35,017
--------
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
9,982
9,989
Trade creditors
( 116)
Social security and other taxes
3,833
533
Other creditors
22,554
27,281
--------
--------
36,253
37,803
--------
--------
7. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr B Bomsztyk
( 24,518)
5,477
( 19,041)
--------
-------
--------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr B Bomsztyk
( 24,518)
( 24,518)
----
--------
--------
8. Related party transactions
The company 008 Imports Ltd is under the control of Mr B J Bomsztyk. No trading transaction took place with the company during the year. At the balance sheet date other debtors include £24,746 (£24,746 - 2023) amounts owed from 008 Imports Ltd.