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Registered number: 12934246
UK Shutters and Doors Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Richard Day Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12934246
30 June 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 638,613 357,161
638,613 357,161
CURRENT ASSETS
Stocks 5 65,180 41,240
Debtors 6 106,525 65,938
Cash at bank and in hand 145,772 316,412
317,477 423,590
Creditors: Amounts Falling Due Within One Year 7 (376,169 ) (550,076 )
NET CURRENT ASSETS (LIABILITIES) (58,692 ) (126,486 )
TOTAL ASSETS LESS CURRENT LIABILITIES 579,921 230,675
PROVISIONS FOR LIABILITIES
Deferred Taxation (74,772 ) (15,776 )
NET ASSETS 505,149 214,899
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 505,049 214,799
SHAREHOLDERS' FUNDS 505,149 214,899
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Alan Hubbard
Director
Mr Darren Dunkley
Director
18/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
UK Shutters and Doors Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12934246 . The registered office is Unit 16, Churchill Way, Lomeshaye Industrial Estate, Nelson, Lancashire, BB9 6RT.
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.
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:
Freehold 2% straight line
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 3 years straight line
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.
2.5. Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 10)
14 10
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 July 2023 207,743 46,515 104,690 3,000 361,948
Additions 8,033 27,021 324,624 3,697 363,375
Disposals - (5,000 ) (18,000 ) - (23,000 )
As at 30 June 2024 215,776 68,536 411,314 6,697 702,323
Depreciation
As at 1 July 2023 - 104 4,683 - 4,787
Provided during the period 237 10,850 47,500 1,649 60,236
Disposals - (1,313 ) - - (1,313 )
As at 30 June 2024 237 9,641 52,183 1,649 63,710
Net Book Value
As at 30 June 2024 215,539 58,895 359,131 5,048 638,613
As at 1 July 2023 207,743 46,411 100,007 3,000 357,161
5. Stocks
30 June 2024 30 June 2023
£ £
Materials 65,180 41,240
6. Debtors
30 June 2024 30 June 2023
£ £
Due within one year
Trade debtors 62,245 37,340
Prepayments and accrued income 44,180 20,733
Other debtors 100 7,865
106,525 65,938
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
30 June 2024 30 June 2023
£ £
Trade creditors 189,711 71,950
Corporation tax 69,022 46,287
Other taxes and social security 11,534 8,827
VAT 12,225 5,635
Net wages 3,671 -
Accruals and deferred income 3,257 12,780
Amounts owed to associates 86,749 404,597
376,169 550,076
8. Share Capital
30 June 2024 30 June 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5