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REGISTERED NUMBER: 06357135 (England and Wales)















Sam Drylining Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024






Sam Drylining Limited (Registered number: 06357135)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sam Drylining Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: S J Perham
G Thomas
A R Davies
A J George
D S Richards





REGISTERED OFFICE: Sam Drylining
Ynyswen Road
Treorchy
Mid Glamorgan
CF42 6EG





REGISTERED NUMBER: 06357135 (England and Wales)





ACCOUNTANTS: Xeinadin South Wales & West Limited
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

Sam Drylining Limited (Registered number: 06357135)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 251,356 318,514
251,356 318,514

CURRENT ASSETS
Stocks 38,000 43,000
Debtors 6 3,757,459 4,173,437
Cash at bank 11,810 189,755
3,807,269 4,406,192
CREDITORS
Amounts falling due within one year 7 2,389,745 3,420,364
NET CURRENT ASSETS 1,417,524 985,828
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,668,880

1,304,342

CREDITORS
Amounts falling due after more than one year 8 (13,900 ) -

PROVISIONS FOR LIABILITIES (27,485 ) (27,662 )
NET ASSETS 1,627,495 1,276,680

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,627,395 1,276,580
1,627,495 1,276,680

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Sam Drylining Limited (Registered number: 06357135)

Balance Sheet - continued
31 August 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 February 2025 and were signed on its behalf by:




S J Perham - Director



G Thomas - Director


Sam Drylining Limited (Registered number: 06357135)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Sam Drylining Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added tax. Turnover is reduced for estimated customer returns, rebates and allowances. Turnover comprises of sale of goods and rendering of services relating to drylining and is recognised as follows:

Sale of Goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has been transferred to the buyer. This is usually at the point that the customer has singed 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Sam Drylining Limited (Registered number: 06357135)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 500,000
AMORTISATION
At 1 September 2023
and 31 August 2024 500,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 September 2023 190,635 163,799 477,338 831,772
Additions - 5,711 34,990 40,701
Disposals - - (100,341 ) (100,341 )
Revaluations (50,635 ) - - (50,635 )
At 31 August 2024 140,000 169,510 411,987 721,497
DEPRECIATION
At 1 September 2023 - 133,662 379,596 513,258
Charge for year - 13,118 44,106 57,224
Eliminated on disposal - - (100,341 ) (100,341 )
At 31 August 2024 - 146,780 323,361 470,141
NET BOOK VALUE
At 31 August 2024 140,000 22,730 88,626 251,356
At 31 August 2023 190,635 30,137 97,742 318,514

Sam Drylining Limited (Registered number: 06357135)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 August 2024 is represented by:

Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
Valuation in 2024 140,000 - - 140,000
Cost - 169,510 411,987 581,497
140,000 169,510 411,987 721,497

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 24,568 31,149
Amounts owed by group undertakings 413,439 999,102
Other debtors 3,319,452 3,143,186
3,757,459 4,173,437

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts 16,739 -
Trade creditors 2,117,349 2,212,581
Amounts owed to group undertakings - 582,104
Taxation and social security 245,767 496,675
Other creditors 9,890 129,004
2,389,745 3,420,364

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts 13,900 -

9. CONTROLLING PARTY

The controlling party is Pertho Limited.