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Registered number: 08452819
Bifolding Doors 4 U Ltd
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08452819
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,605 2,093
1,605 2,093
CURRENT ASSETS
Stocks 5 45,000 70,874
Debtors 6 34,777 40,495
Cash at bank and in hand 26,632 20,814
106,409 132,183
Creditors: Amounts Falling Due Within One Year 7 (86,137 ) (99,148 )
NET CURRENT ASSETS (LIABILITIES) 20,272 33,035
TOTAL ASSETS LESS CURRENT LIABILITIES 21,877 35,128
Creditors: Amounts Falling Due After More Than One Year 8 (17,789 ) (26,667 )
NET ASSETS 4,088 8,461
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 4,086 8,459
SHAREHOLDERS' FUNDS 4,088 8,461
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Darren Dyson
Director
29 November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bifolding Doors 4 U Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08452819 . The registered office is Unit 1 Joshua Business Park, Cromford Road, Langley Mill, Nottinghamshire, NG16 4EW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% and 25% reducing balance
Motor Vehicles 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 1,684 17,183 18,867
As at 31 March 2024 1,684 17,183 18,867
Depreciation
As at 1 April 2023 1,312 15,462 16,774
Provided during the period 58 430 488
As at 31 March 2024 1,370 15,892 17,262
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 March 2024 314 1,291 1,605
As at 1 April 2023 372 1,721 2,093
5. Stocks
2024 2023
£ £
Stock 45,000 70,874
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 34,777 40,495
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 44,109 49,585
Bank loans and overdrafts 10,000 10,000
Other taxes and social security 1,159 1,355
VAT 11,684 10,742
Other creditors 13,346 20,232
Other creditors (1) 239 239
Accruals and deferred income 1,565 1,565
Director's loan account 4,035 5,430
86,137 99,148
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 17,789 26,667
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4