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REGISTERED NUMBER: 09462745 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2024

for

Extract Insulation Ltd

Extract Insulation Ltd (Registered number: 09462745)






Contents of the Financial Statements
for the Year Ended 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Extract Insulation Ltd

Company Information
for the Year Ended 28 February 2024







DIRECTOR: S Ormston





REGISTERED OFFICE: Unit 9 Clarence Wharf
Mumby Road
Gosport
Hampshire
PO12 1AJ





REGISTERED NUMBER: 09462745 (England and Wales)





ACCOUNTANTS: PD Accountancy Services Ltd
1 Post Office House
184 Bridge Road
Sarisbury Green
Southampton
Hampshire
SO31 7ED

Extract Insulation Ltd (Registered number: 09462745)

Balance Sheet
28 February 2024

28.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 192,044 183,614
Investments 5 8,000 8,000
200,044 191,614

CURRENT ASSETS
Stocks 6 8,000 3,000
Debtors 7 460,189 152,091
Cash at bank 134,948 85,967
603,137 241,058
CREDITORS
Amounts falling due within one year 8 154,779 138,586
NET CURRENT ASSETS 448,358 102,472
TOTAL ASSETS LESS CURRENT
LIABILITIES

648,402

294,086

CREDITORS
Amounts falling due after more than one
year

9

(81,260

)

(103,513

)

PROVISIONS FOR LIABILITIES (36,486 ) (26,403 )
NET ASSETS 530,656 164,170

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 530,655 164,169
SHAREHOLDERS' FUNDS 530,656 164,170

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Extract Insulation Ltd (Registered number: 09462745)

Balance Sheet - continued
28 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 November 2024 and were signed by:





S Ormston - Director


Extract Insulation Ltd (Registered number: 09462745)

Notes to the Financial Statements
for the Year Ended 28 February 2024

1. STATUTORY INFORMATION

Extract Insulation Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Extract Insulation Ltd (Registered number: 09462745)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 46,531 9,116 177,640 15,615 248,902
Additions 21,770 3,859 54,555 1,338 81,522
Disposals (1,527 ) (250 ) (57,805 ) (762 ) (60,344 )
At 28 February 2024 66,774 12,725 174,390 16,191 270,080
DEPRECIATION
At 1 March 2023 13,174 2,486 43,672 5,956 65,288
Charge for year 7,519 2,206 39,223 2,689 51,637
Eliminated on disposal (103 ) (176 ) (38,087 ) (523 ) (38,889 )
At 28 February 2024 20,590 4,516 44,808 8,122 78,036
NET BOOK VALUE
At 28 February 2024 46,184 8,209 129,582 8,069 192,044
At 28 February 2023 33,357 6,630 133,968 9,659 183,614

Extract Insulation Ltd (Registered number: 09462745)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2023 133,830
Additions 21,770
Disposals (13,995 )
At 28 February 2024 141,605
DEPRECIATION
At 1 March 2023 23,692
Charge for year 29,349
Eliminated on disposal (12,150 )
At 28 February 2024 40,891
NET BOOK VALUE
At 28 February 2024 100,714
At 28 February 2023 110,138

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2023
and 28 February 2024 8,000
NET BOOK VALUE
At 28 February 2024 8,000
At 28 February 2023 8,000

6. STOCKS
28.2.24 28.2.23
£    £   
Stocks 8,000 3,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Trade debtors 248,015 101,265
Amounts owed by associates 21,065 -
Other debtors 123,507 600
Directors' current accounts 12,775 -
Tax 8,071 22,411
VAT 31,547 23,098
Prepayments 15,209 4,717
460,189 152,091

Extract Insulation Ltd (Registered number: 09462745)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Bank loans and overdrafts 8,558 8,652
Hire purchase contracts 30,398 35,091
Trade creditors 204 4,906
Amounts owed to associates - 51,986
Tax 115,148 -
Other creditors (329 ) 9,890
Directors' current accounts - 27,261
Accrued expenses 800 800
154,779 138,586

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.24 28.2.23
£    £   
Bank loans - 2-5 years 9,442 17,348
Hire purchase contracts 71,818 86,165
81,260 103,513

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £17,700 (2023 - £20,000) were paid to the director .

11. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by the director by virtue of their 50% interest in the issued share capital of the company.