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DUCTFORM VENTILATION (U.K.) LTD.

Registered Number
SC061780
(Scotland)

Unaudited Financial Statements for the Year ended
30 April 2024

DUCTFORM VENTILATION (U.K.) LTD.
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

Roland Ferry
Stacey-Lee Ferry

Company Secretary

Stacey-Lee Ferry

Registered Address

17 Faraday Road
Southfield Industrial Estate
Glenrothes
KY6 2RU

Registered Number

SC061780 (Scotland)
DUCTFORM VENTILATION (U.K.) LTD.
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Current assets
Debtors41,003,700977,484
Cash at bank and on hand1,0769
1,004,776977,493
Creditors amounts falling due within one year5(367,549)(339,805)
Net current assets (liabilities)637,227637,688
Total assets less current liabilities637,227637,688
Net assets637,227637,688
Capital and reserves
Called up share capital50,00050,000
Profit and loss account587,227587,688
Shareholders' funds637,227637,688
The financial statements were approved and authorised for issue by the Board of Directors on 13 January 2025, and are signed on its behalf by:
Stacey-Lee Ferry
Director
Registered Company No. SC061780
DUCTFORM VENTILATION (U.K.) LTD.
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
With the exception of long term contracts, turnover represents amounts receivable during the year , excluding Value Added Tax. Revenue from long term contracts is recognised by reference to the stage of completion of contract activity at the balance sheet date. This is normally determined by the proportion that contract costs incurred to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion. If the nature of a particular contract means that costs incurred do not accurately reflect the progress of contract activity, an alternative approach is used such as the achievement of pre-determined contract milestones. Profit attributable to contract activity is recognised if the final outcome of such contracts can be reliably assessed. On all contracts, full provision is made for any losses in the year in which they are first foreseen. Revenue from services provided on a short-term or one-off basis is recognised when the service is complete.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. A deferred tax asset of £4,392 (2023: £4,305) relating to trading losses carried forward has not been recognised in these financial statements due to uncertainty of future trading profits.
Intangible assets
Development expenditure is capitalised when eligible costs are incurred. The resulting intangible asset is amortised over one year once the commercial production in respect of these costs has commenced.
Research and development
Development expenditure is capitalised when eligible costs are incurred. The resulting intangible asset is amortised over one year once the commercial production in respect of these costs has commenced.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease. Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Work in progress Applications applied for are recognised as turnover. The attributable profit on contracts is recognised once their outcome can be assessed with reasonable certainty. The profit recognised reflects the proportion of the work completed to date on the project. Costs associated with contracts are included in work in progress to the extent that they cannot be matched with contract work accounted for as turnover. Costs are defined as direct costs plus attributable overheads based on normal level of activity. Full provision is made for losses on all contracts in the year in which the loss is foreseen.
2.Average number of employees

20242023
Average number of employees during the year24
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 May 2369,75469,754
At 30 April 2469,75469,754
Amortisation and impairment
At 01 May 2369,75469,754
At 30 April 2469,75469,754
Net book value
At 30 April 24--
At 30 April 23--
4.Debtors: amounts due within one year

2024

2023

££
Amounts owed by group undertakings1,003,700977,484
Total1,003,700977,484
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-1,465
Amounts owed to related parties366,881337,347
Accrued liabilities and deferred income668993
Total367,549339,805