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COMPANY REGISTRATION NUMBER: 06215869
Sycamore Windows & Conservatories Limited
Filleted Unaudited Financial Statements
31 March 2024
Sycamore Windows & Conservatories Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed Assets
Tangible assets
5
53,657
47,057
Current Assets
Stocks
22,875
105,850
Debtors
6
453,365
487,791
Cash at bank and in hand
1,194,402
325,530
------------
---------
1,670,642
919,171
Creditors: amounts falling due within one year
7
567,056
485,178
------------
---------
Net Current Assets
1,103,586
433,993
------------
---------
Total Assets Less Current Liabilities
1,157,243
481,050
Provisions
Taxation including deferred tax
13,414
------------
---------
Net Assets
1,143,829
481,050
------------
---------
Sycamore Windows & Conservatories Limited
Statement of Financial Position (continued)
31 March 2024
2024
2023
Note
£
£
£
£
Capital and Reserves
Called up share capital
8
100
100
Profit and loss account
1,143,729
480,950
------------
---------
Shareholders Funds
1,143,829
481,050
------------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 2 December 2024 , and are signed on behalf of the board by:
Ms S D Court
Director
Company registration number: 06215869
Sycamore Windows & Conservatories Limited
Notes to the Financial Statements
Year Ended 31 March 2024
1. General Information
The company is a private company limited by shares, registered in England. The address of the registered office is 115 Church Hill, Hednesford, Staffordshire, WS12 1BD.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
1 Basis of Preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
2 Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
3 Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
4 Operating Leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
5 Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
6 Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment
-
25% reducing balance
Motor vehicles
-
25% reducing balance
7 Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
8 Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
9 Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 8 ).
5. Tangible Assets
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023
18,230
74,500
92,730
Additions
499
28,495
28,994
Disposals
( 19,000)
( 19,000)
--------
--------
---------
At 31 March 2024
18,729
83,995
102,724
--------
--------
---------
Depreciation
At 1 April 2023
9,432
36,241
45,673
Charge for the year
2,324
15,561
17,885
Disposals
( 14,491)
( 14,491)
--------
--------
---------
At 31 March 2024
11,756
37,311
49,067
--------
--------
---------
Carrying amount
At 31 March 2024
6,973
46,684
53,657
--------
--------
---------
At 31 March 2023
8,798
38,259
47,057
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
39,476
38,479
Prepayments and accrued income
10,135
8,363
Amounts recoverable on contracts
396,829
431,634
Other debtors
6,925
9,315
---------
---------
453,365
487,791
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
242,275
365,623
Social security and other taxes
269,427
12,119
Other creditors
55,354
107,436
---------
---------
567,056
485,178
---------
---------
8. Called Up Share Capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
9. Operating Leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
458
458
----
----