Fire & Acoustic Seals Limited |
Registered number: |
07222274 |
Directors' Report |
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The directors present their report and accounts for the year ended 30 April 2024. |
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Principal activities |
The company's principal activity during the year continued to be distributors of glass and glazing services to the contruction industry. |
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Directors |
The following persons served as directors during the year: |
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MT Finney - Resigned 12/06/2023 |
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PJ McGuire - Resigned 20/8/2024 |
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JJ Vann - Resigned 15/5/2024 |
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MA Finney - Appointed 12/06/2023 |
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DT Finney - Appointed 12/06/2023 |
The following person has been appointed as directors since the year end |
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TP McGuire - Appointed 20/8/2024 |
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Small company provisions |
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
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This report was approved by the board on 29 January 2025 and signed on its behalf. |
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MA Finney |
Director |
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Fire & Acoustic Seals Limited |
Registered number: |
07222274 |
Balance Sheet |
as at 30 April 2024 |
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Notes |
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2024 |
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|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
104,406 |
|
|
129,288 |
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Current assets |
Stocks |
|
|
547,282 |
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|
300,384 |
Debtors |
4 |
|
768,290 |
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|
645,402 |
Cash at bank and in hand |
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|
487,455 |
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|
627,605 |
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|
|
1,803,027 |
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|
1,573,391 |
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Creditors: amounts falling due within one year |
5 |
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(1,382,185) |
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(1,170,626) |
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Net current assets |
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|
|
420,842 |
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402,765 |
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Total assets less current liabilities |
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|
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525,248 |
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532,053 |
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Provisions for liabilities |
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(13,529) |
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(7,828) |
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Net assets |
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511,719 |
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524,225 |
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Capital and reserves |
Called up share capital |
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10,000 |
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10,000 |
Profit and loss account |
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|
|
501,719 |
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514,225 |
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Shareholders' funds |
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|
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511,719 |
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524,225 |
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The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
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DT Finney |
Director |
Approved by the board on 29 January 2025 |
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Fire & Acoustic Seals Limited |
Notes to the Accounts |
for the year ended 30 April 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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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 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. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Plant and machinery |
over 4 years |
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Motor vehicles |
over 4 years |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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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. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
20 |
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16 |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
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Motor vehicles |
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Total |
£ |
£ |
£ |
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Cost |
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At 1 May 2023 |
74,341 |
|
137,528 |
|
211,869 |
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Additions |
18,150 |
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- |
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18,150 |
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Disposals |
- |
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(67,588) |
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(67,588) |
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At 30 April 2024 |
92,491 |
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69,940 |
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162,431 |
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Depreciation |
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At 1 May 2023 |
25,906 |
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56,675 |
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82,581 |
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Charge for the year |
14,107 |
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21,960 |
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36,067 |
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On disposals |
- |
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(60,623) |
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(60,623) |
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At 30 April 2024 |
40,013 |
|
18,012 |
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58,025 |
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Net book value |
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At 30 April 2024 |
52,478 |
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51,928 |
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104,406 |
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At 30 April 2023 |
48,435 |
|
80,853 |
|
129,288 |
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4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
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Trade debtors |
665,347 |
|
554,217 |
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Other debtors |
102,943 |
|
91,185 |
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768,290 |
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645,402 |
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5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
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Trade creditors |
732,888 |
|
673,721 |
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Taxation and social security costs |
153,744 |
|
139,512 |
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Other creditors |
495,553 |
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357,393 |
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1,382,185 |
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1,170,626 |
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6 |
Capital commitments |
2024 |
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2023 |
£ |
£ |
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Amounts contracted for but not provided in the accounts |
- |
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18,150 |
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7 |
Related party transactions |
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The following companies are controlled by the board of directors and are related parties: |
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Transaction for year to |
Sales of |
Purchases of |
Debtor |
Creditor |
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30 April 2023 |
product |
products |
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Midland Building Products Ltd |
405,014 |
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268,420 |
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141,672 |
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161,058 |
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Manchester Doors & Cubicles Ltd |
83,716 |
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- |
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7,603 |
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- |
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Specialist Joinery Products Ltd |
59,295 |
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- |
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14,117 |
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- |
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Southern Doors & Cubicles Ltd |
161,946 |
|
1,840 |
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17,503 |
|
2,208 |
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Joinery Specialists Ltd |
36,593 |
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- |
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3,205 |
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- |
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Leeds Doors & Cubicles Ltd |
22,244 |
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- |
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4,619 |
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- |
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ZMR Ltd |
15 |
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1,048 |
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- |
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- |
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UK Doorsets Ltd |
203,376 |
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9,755 |
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14,575 |
|
- |
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Door-Kit Solutions Ltd |
39,559 |
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- |
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1,213 |
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- |
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IBS Building Products Ltd |
2,007 |
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- |
|
540 |
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- |
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MBP Ironmongery Ltd |
493 |
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|
591 |
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Transaction for year to |
Sales of |
Purchases of |
Debtor |
Creditor |
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30 April 2022 |
product |
products |
£ |
£ |
£ |
£ |
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Midland Building Products Ltd |
655,260 |
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230,754 |
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125,641 |
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66,511 |
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Manchester Doors & Cubicles Ltd |
58,698 |
|
- |
|
846 |
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- |
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Specialist Joinery Products Ltd |
39,449 |
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- |
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19,751 |
|
- |
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Southern Doors & Cubicles Ltd |
202,867 |
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- |
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23,587 |
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- |
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Joinery Specialists Ltd |
45,583 |
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- |
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3,121 |
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- |
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Leeds Doors & Cubicles Ltd |
18,583 |
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- |
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1,886 |
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- |
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ZMR Ltd |
290 |
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3,724 |
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18 |
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- |
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UK Doorsets Ltd |
297,928 |
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5,486 |
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22,674 |
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- |
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Door-Kit Solutions Ltd |
21,930 |
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- |
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2,008 |
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- |
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IBS Building Products Ltd |
454 |
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- |
|
206 |
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- |
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8 |
Controlling party |
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The company is controlled by the board of directors by vrtue of their own shareholdings or those of immediate family members. |
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9 |
Other information |
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Fire & Acoustic Seals Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Units 6-11 Spartan Industrial Centre |
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Brickhouse Lane |
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Great Bridge |
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West Midlands |
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B70 0DH |