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Registration number: 10546047

C & R Windows (SW) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

C & R Windows (SW) Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

C & R Windows (SW) Ltd

Company Information

Director

Mr John Anthony Cummins

Registered office

36 Stanbury Road
Torquay
Devon
TQ2 7LL

Accountants

Neil Wilson Payroll & Book-Keeping Services Limited
42a Walnut Road
Torquay
Devon
TQ2 6HS

 

C & R Windows (SW) Ltd

(Registration number: 10546047)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

5,750

6,900

Current assets

 

Stocks

5

1,000

1,000

Debtors

7,283

14,893

Cash at bank and in hand

 

3,956

10,210

 

12,239

26,103

Creditors: Amounts falling due within one year

6

(17,550)

(27,741)

Net current liabilities

 

(5,311)

(1,638)

Net assets

 

439

5,262

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

437

5,260

Shareholders' funds

 

439

5,262

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 October 2024
 

.........................................
Mr John Anthony Cummins
Director

 

C & R Windows (SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
36 Stanbury Road
Torquay
Devon
TQ2 7LL
England

These financial statements were authorised for issue by the director on 29 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

C & R Windows (SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

C & R Windows (SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

C & R Windows (SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2023

11,500

11,500

At 31 January 2024

11,500

11,500

Amortisation

At 1 February 2023

4,600

4,600

Amortisation charge

1,150

1,150

At 31 January 2024

5,750

5,750

Carrying amount

At 31 January 2024

5,750

5,750

At 31 January 2023

6,900

6,900

5

Stocks

2024
£

2023
£

Work in progress

1,000

1,000

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

8,647

12,102

Taxation and social security

 

5,589

2,800

Accruals and deferred income

 

2,377

1,377

Other creditors

 

937

11,462

 

17,550

27,741

7

Share capital

Allotted, called up and fully paid shares

 

C & R Windows (SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

 

2024

2023

 

No.

£

No.

£

Ordinary £1 of £1 each

2

2

2

2

         

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

8,647

12,102

9

Dividends

   

2024

 

2023

   

£

 

£

Final dividend of £1.00 (2023 - £2.00) per ordinary share

 

-

 

-

Interim dividend of £3.00 (2023 - £2,000.00) per ordinary share

 

2,000

 

4,000

   

2,000

 

4,000

         

10

Related party transactions

Transactions with the director

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

Mr John Anthony Cummins

Mr John Cummins

(20,580)

22,665

(1,142)

943

         
       

 

2023

At 1 February 2022
£

At 31 January 2023
£

Mr John Anthony Cummins

Mr John Cummins

(20,580)

(20,580)

     
   

 

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

12,075

 

C & R Windows (SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Dividends paid to the director

   

2024
£

 

2023
£

Mr John Anthony Cummins

       

Mr John Anthony Cummins

 

1,000

 

1,000