Silverfin false false 31/03/2024 01/04/2023 31/03/2024 A Lyus 28/05/2019 N Miller 10/05/2024 01/02/2022 29 October 2024 The principal activity of the Company during the financial year was that of the supply and installation of windows, doors and conservatories. 06597418 2024-03-31 06597418 bus:Director1 2024-03-31 06597418 bus:Director2 2024-03-31 06597418 2023-03-31 06597418 core:CurrentFinancialInstruments 2024-03-31 06597418 core:CurrentFinancialInstruments 2023-03-31 06597418 core:Non-currentFinancialInstruments 2024-03-31 06597418 core:Non-currentFinancialInstruments 2023-03-31 06597418 core:ShareCapital 2024-03-31 06597418 core:ShareCapital 2023-03-31 06597418 core:RetainedEarningsAccumulatedLosses 2024-03-31 06597418 core:RetainedEarningsAccumulatedLosses 2023-03-31 06597418 core:LeaseholdImprovements 2023-03-31 06597418 core:Vehicles 2023-03-31 06597418 core:OfficeEquipment 2023-03-31 06597418 core:LeaseholdImprovements 2024-03-31 06597418 core:Vehicles 2024-03-31 06597418 core:OfficeEquipment 2024-03-31 06597418 core:WithinOneYear 2024-03-31 06597418 core:WithinOneYear 2023-03-31 06597418 core:BetweenOneFiveYears 2024-03-31 06597418 core:BetweenOneFiveYears 2023-03-31 06597418 2023-04-01 2024-03-31 06597418 bus:FilletedAccounts 2023-04-01 2024-03-31 06597418 bus:SmallEntities 2023-04-01 2024-03-31 06597418 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06597418 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06597418 bus:Director1 2023-04-01 2024-03-31 06597418 bus:Director2 2023-04-01 2024-03-31 06597418 core:LeaseholdImprovements core:TopRangeValue 2023-04-01 2024-03-31 06597418 core:Vehicles core:TopRangeValue 2023-04-01 2024-03-31 06597418 core:OfficeEquipment core:TopRangeValue 2023-04-01 2024-03-31 06597418 2022-04-01 2023-03-31 06597418 core:LeaseholdImprovements 2023-04-01 2024-03-31 06597418 core:Vehicles 2023-04-01 2024-03-31 06597418 core:OfficeEquipment 2023-04-01 2024-03-31 06597418 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 06597418 (England and Wales)

D L WINDOWS LIMITED

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

D L WINDOWS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

D L WINDOWS LIMITED

BALANCE SHEET

As at 31 March 2024
D L WINDOWS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 111,494 32,329
111,494 32,329
Current assets
Stocks 4 53,938 107,682
Debtors 5 164,492 107,437
Cash at bank and in hand 63,702 324,206
282,132 539,325
Creditors: amounts falling due within one year 6 ( 364,115) ( 541,641)
Net current liabilities (81,983) (2,316)
Total assets less current liabilities 29,511 30,013
Creditors: amounts falling due after more than one year 7 ( 20,000) ( 30,000)
Provision for liabilities 8 ( 18,115) ( 6,388)
Net liabilities ( 8,604) ( 6,375)
Capital and reserves
Called-up share capital 1 1
Profit and loss account ( 8,605 ) ( 6,376 )
Total shareholder's deficit ( 8,604) ( 6,375)

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 D L Windows Limited (registered number: 06597418) were approved and authorised for issue by the Director on 29 October 2024. They were signed on its behalf by:

A Lyus
Director
D L WINDOWS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
D L WINDOWS 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

D L Windows 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 Unit 7 William Street, Porte Marsh Industrial Estate, Calne, SN11 9BN, England, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Where income is received in advance of the work completed at the Balance Sheet date, this income is included as deferred income within other creditors on the Balance Sheet.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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. Tax is recognised in the profit and loss account, 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.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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 straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 5 years straight line
Vehicles 4 years straight line
Office equipment 4 years straight line

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.

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.

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 Profit and Loss Account 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 and work in progress are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 18 14

3. Tangible assets

Leasehold improve-
ments
Vehicles Office equipment Total
£ £ £ £
Cost
At 01 April 2023 0 40,107 63,051 103,158
Additions 39,147 55,500 8,464 103,111
Disposals 0 0 ( 46,755) ( 46,755)
At 31 March 2024 39,147 95,607 24,760 159,514
Accumulated depreciation
At 01 April 2023 0 15,255 55,574 70,829
Charge for the financial year 3,807 15,892 4,247 23,946
Disposals 0 0 ( 46,755) ( 46,755)
At 31 March 2024 3,807 31,147 13,066 48,020
Net book value
At 31 March 2024 35,340 64,460 11,694 111,494
At 31 March 2023 0 24,852 7,477 32,329

4. Stocks

2024 2023
£ £
Stocks 14,543 9,000
Work in progress 39,395 98,682
53,938 107,682

5. Debtors

2024 2023
£ £
Trade debtors 128,465 94,263
Corporation tax 8,586 0
Other debtors 27,441 13,174
164,492 107,437

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors 178,504 179,139
Taxation and social security 37,663 89,970
Other creditors 137,948 262,532
364,115 541,641

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

2024 2023
£ £
Bank loans 20,000 30,000

Bank loans consists of a balance of £30,000 (2023 - £40,000) relating to an outstanding amount due from a Coronavirus Bounce Back Loan. The UK government have guaranteed 100% of the value of the loan as well as paying interest and fees for the first 12 months.

8. Provision for liabilities

2024 2023
£ £
Deferred tax 18,115 6,388

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 62,142 41,080
between one and five years 258,354 93,530
320,496 134,610

The commitment shown above is in relation to non-cancellable operating leases over the business premises and business vehicles.