Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Robert Hewitt 27/03/2012 13 November 2024 The principal activity continued to be that of the supply of high performance, energy efficient products to both trade and domestic clients. 08008694 2024-03-31 08008694 bus:Director1 2024-03-31 08008694 2023-03-31 08008694 core:CurrentFinancialInstruments 2024-03-31 08008694 core:CurrentFinancialInstruments 2023-03-31 08008694 core:Non-currentFinancialInstruments 2024-03-31 08008694 core:Non-currentFinancialInstruments 2023-03-31 08008694 core:ShareCapital 2024-03-31 08008694 core:ShareCapital 2023-03-31 08008694 core:RetainedEarningsAccumulatedLosses 2024-03-31 08008694 core:RetainedEarningsAccumulatedLosses 2023-03-31 08008694 core:PlantMachinery 2023-03-31 08008694 core:Vehicles 2023-03-31 08008694 core:OfficeEquipment 2023-03-31 08008694 core:PlantMachinery 2024-03-31 08008694 core:Vehicles 2024-03-31 08008694 core:OfficeEquipment 2024-03-31 08008694 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-03-31 08008694 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-03-31 08008694 core:CurrentFinancialInstruments 1 2024-03-31 08008694 core:CurrentFinancialInstruments 1 2023-03-31 08008694 2023-04-01 2024-03-31 08008694 bus:FilletedAccounts 2023-04-01 2024-03-31 08008694 bus:SmallEntities 2023-04-01 2024-03-31 08008694 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08008694 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08008694 bus:Director1 2023-04-01 2024-03-31 08008694 core:PlantMachinery 2023-04-01 2024-03-31 08008694 core:Vehicles 2023-04-01 2024-03-31 08008694 core:OfficeEquipment 2023-04-01 2024-03-31 08008694 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 08008694 (England and Wales)

TIMBER WINDOWS NORFOLK LIMITED

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

TIMBER WINDOWS NORFOLK LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

TIMBER WINDOWS NORFOLK LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
TIMBER WINDOWS NORFOLK LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 8,800 11,054
8,800 11,054
Current assets
Debtors 4 42,144 31,749
Cash at bank and in hand 7,062 21,610
49,206 53,359
Creditors: amounts falling due within one year 5 ( 15,706) ( 31,941)
Net current assets 33,500 21,418
Total assets less current liabilities 42,300 32,472
Creditors: amounts falling due after more than one year 6 ( 5,667) ( 9,667)
Net assets 36,633 22,805
Capital and reserves
Called-up share capital 100 100
Profit and loss account 36,533 22,705
Total shareholder's funds 36,633 22,805

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 Timber Windows Norfolk Limited (registered number: 08008694) were approved and authorised for issue by the Director. They were signed on its behalf by:

Robert Hewitt
Director

13 November 2024

TIMBER WINDOWS NORFOLK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
TIMBER WINDOWS NORFOLK 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

Timber Windows Norfolk 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 3 The Green, Pulham Market, Diss, IP21 4SY, 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods 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.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. 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:

Plant and machinery 25 % reducing balance
Vehicles 20 % reducing balance
Office equipment 20 % reducing balance

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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Stocks

Stocks 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.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 2

3. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 April 2023 4,699 16,796 16,164 37,659
At 31 March 2024 4,699 16,796 16,164 37,659
Accumulated depreciation
At 01 April 2023 3,817 11,528 11,260 26,605
Charge for the financial year 220 1,053 981 2,254
At 31 March 2024 4,037 12,581 12,241 28,859
Net book value
At 31 March 2024 662 4,215 3,923 8,800
At 31 March 2023 882 5,268 4,904 11,054

4. Debtors

2024 2023
£ £
Trade debtors 29,281 17,437
Amounts owed by related parties 11,130 12,518
Prepayments 1,733 1,081
Other debtors 0 713
42,144 31,749

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 4,000 4,000
Trade creditors 1,773 5,908
Accruals 945 14,683
Deferred tax liability 3,347 0
Other taxation and social security 5,081 6,750
Other creditors 560 600
15,706 31,941

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

2024 2023
£ £
Bank loans 5,667 9,667