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Registration number: 05353351

Total Window Repairs Limited

Annual Report and Unaudited Financial Statements
Year Ended 29 February 2024

image-name

Chartered Accountants

 

Total Window Repairs Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

Total Window Repairs Limited

Company Information

Directors

Mr D L Andrews

Mrs A G Andrews

Company secretary

Mrs A G Andrews

Registered office

Unit 2 Holland Business Park
Unit 2 Holland Way Industrial Estate
Blandford Forum
Dorset
DT11 7TA

Accountants

Edwards and Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Total Window Repairs Limitedfor the Year Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Total Window Repairs Limited for the year ended 29 February 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Total Window Repairs Limited, as a body, in accordance with the terms of our engagement letter dated 7 November 2024. Our work has been undertaken solely to prepare for your approval the accounts of Total Window Repairs Limited and state those matters that we have agreed to state to the Board of Directors of Total Window Repairs Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Total Window Repairs Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Total Window Repairs Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Total Window Repairs Limited. You consider that Total Window Repairs Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Total Window Repairs Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Edwards and Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

29 November 2024

 

Total Window Repairs Limited

(Registration number: 05353351)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

48,004

45,927

Current assets

 

Stocks

2,250

2,250

Debtors

5

129,771

107,098

Cash at bank and in hand

 

54,899

66,840

 

186,920

176,188

Creditors: Amounts falling due within one year

6

(158,065)

(108,837)

Net current assets

 

28,855

67,351

Total assets less current liabilities

 

76,859

113,278

Creditors: Amounts falling due after more than one year

6

(30,592)

(43,649)

Provisions for liabilities

(8,656)

(25,270)

Net assets

 

37,611

44,359

Capital and reserves

 

Called up share capital

100

100

Retained earnings

37,511

44,259

Shareholders' funds

 

37,611

44,359

For the financial year ending 29 February 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 November 2024 and signed on its behalf by:
 



Mr D L Andrews
Director

 

Total Window Repairs Limited

Notes to the Unaudited Financial Statements
for the Year Ended 29 February 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:
Unit 2 Holland Business Park
Unit 2 Holland Way Industrial Estate
Blandford Forum
Dorset
DT11 7TA
England

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.

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.

Government grants

Grants relating to revenue are recognised in the Profit and Loss account on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Total Window Repairs Limited

Notes to the Unaudited Financial Statements
for the Year Ended 29 February 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Property improvements

Not depreciated

Show conservatory

10% straight line basis

Small tools

Not depreciated

General and office equipment

20% reducing balance basis

Motor vehicles

25% reducing balance basis

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

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.

 

Total Window Repairs Limited

Notes to the Unaudited Financial Statements
for the Year Ended 29 February 2024

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Total Window Repairs Limited

Notes to the Unaudited Financial Statements
for the Year Ended 29 February 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 5).

4

Tangible assets

Property improve-
ments
£

Show conservatory
 £

General and office equipment
£

Small tools
£

Motor vehicles
 £

Total
£

Cost

At 1 March 2023

4,910

43,177

41,113

500

65,381

155,081

Additions

-

-

680

-

33,423

34,103

Disposals

-

-

(23,959)

-

(50,898)

(74,857)

At 29 February 2024

4,910

43,177

17,834

500

47,906

114,327

Depreciation

At 1 March 2023

-

34,063

27,981

-

47,110

109,154

Charge for the year

-

4,317

1,357

-

697

6,371

Eliminated on disposal

-

-

(16,575)

-

(32,627)

(49,202)

At 29 February 2024

-

38,380

12,763

-

15,180

66,323

Carrying amount

At 29 February 2024

4,910

4,797

5,071

500

32,726

48,004

At 28 February 2023

4,910

9,114

13,132

500

18,271

45,927

 

Total Window Repairs Limited

Notes to the Unaudited Financial Statements
for the Year Ended 29 February 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

7,935

12,632

Prepayments

2,063

1,098

Other debtors

119,773

93,368

 

129,771

107,098

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

11,836

14,567

Trade creditors

 

35,697

11,768

Taxation and social security

 

28,631

32,470

Accruals and deferred income

 

1,782

1,788

Other creditors

 

80,119

48,244

 

158,065

108,837

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Hire purchase contracts

1,836

4,567

11,836

14,567

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

13,334

23,333

Hire purchase contracts

17,258

20,316

30,592

43,649

 

Total Window Repairs Limited

Notes to the Unaudited Financial Statements
for the Year Ended 29 February 2024

8

Related party transactions

Transactions with directors

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Mr D L Andrews

Overdrawn directors account

44,001

56,321

(44,158)

56,164

Mrs A G Andrews

Overdrawn directors account

44,001

56,321

(44,158)

56,164

2023

At 1 March 2022
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

Mr D L Andrews

Overdrawn directors account

23,408

61,249

(40,656)

44,001

         
       

Mrs A G Andrews

Overdrawn directors account

23,408

61,249

(40,656)

44,001

         
       

 

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

24,691

19,638

Contributions paid to money purchase schemes

44,028

32,585

68,719

52,223