WHITEHURST WINDOWS LIMITED
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 89,782 84,585
Current assets
Stocks 34,920 50,670
Debtors 4 9,837 15,005
Cash at bank and in hand 36,569 23,477
81,326 89,152
Creditors: amounts falling due within one year 5 (118,618) (104,411)
Net current liabilities (37,292) (15,259)
Total assets less current liabilities 52,490 69,326
Creditors: amounts falling due after more than one year (37,659) (49,750)
Provisions for liabilities (13,928) (12,940)
Net assets 903 6,636
Capital and reserves
Called up share capital 100 100
Profit and loss account 803 6,536
Shareholder's funds 903 6,636
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
C. WHITEHURST
Director
Approved by the board on 17 February 2025
WHITEHURST WINDOWS LIMITED
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
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).
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 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.
Tangible fixed assets
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 over its expected useful life, as follows:
Freehold land 0%
Fixtures, fittings, tools and equipment 20% reducing balance basis
Motor vehicles: Vans 25% reducing balance basis
Pick-up 15% straight line basis
Stocks
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.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. 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. Current and deferred tax assets and liabilities are not discounted.
Leased and hire purchase assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Fixtures, fittings, tools and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 16,478 50,221 81,666 148,365
Additions - 1,928 20,200 22,128
At 31 May 2024 16,478 52,149 101,866 170,493
Depreciation
At 1 June 2023 - 40,650 23,130 63,780
Charge for the year - 2,297 14,634 16,931
At 31 May 2024 - 42,947 37,764 80,711
Net book value
At 31 May 2024 16,478 9,202 64,102 89,782
At 31 May 2023 16,478 9,571 58,536 84,585
Obligations under finance lease and hire purchase contracts totalling £29,751 (2023: £31,492) are secured on the individual motor vehicle concerned which has a net book value, included in the above of £34,711 (2023: £46,281).
4 Debtors 2024 2023
£ £
Trade debtors 6,600 13,250
Taxes and social security costs - 204
Other debtors 3,237 1,551
9,837 15,005
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts (unsecured) 10,000 10,000
Obligations under finance lease and hire purchase contract 2,092 1,741
Trade creditors 60,084 64,974
Taxes and social security costs 21,193 7,651
Director's loan account: Mr. C. Whitehurst 25,249 20,045
118,618 104,411
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loan account (unsecured) 10,000 20,000
Obligations under finance lease and hire purchase contracts 27,659 29,750
37,659 49,750
7 Related party transactions
Mr. C. Whitehurst, the sole director of the company, owns 100% (2023: 100%) of the issued share capital in the company.
8 Other information
WHITEHURST WINDOWS LIMITED is a private company limited by shares and incorporated in England (Company Number 04431527). Its registered office is 22, Church Lane, Mow Cop, Stoke-on-Trent, Staffordshire. ST7 4LY.
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