Registered number
10453404
SJB Sash Windows Specialist Ltd
Filleted Accounts
31 October 2024
SJB Sash Windows Specialist Ltd
Registered number: 10453404
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 92,774 134,432
Current assets
Debtors 4 1,285,251 990,004
Cash at bank and in hand 651,689 854,221
1,936,940 1,844,225
Creditors: amounts falling due within one year 5 (352,535) (523,965)
Net current assets 1,584,405 1,320,260
Total assets less current liabilities 1,677,179 1,454,692
Creditors: amounts falling due after more than one year 6 (6,455) (26,012)
Provisions for liabilities (23,194) (32,110)
Net assets 1,647,530 1,396,570
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,647,528 1,396,568
Shareholders' funds 1,647,530 1,396,570
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.
Stephen John Boylan
Director
Approved by the board on 21 February 2025
SJB Sash Windows Specialist Ltd
Notes to the Accounts
for the year ended 31 October 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 evenly over its expected useful life, as follows:
Motor vehicles over 4 years
Plant and machinery over 3 or 4 years
Taxation
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.
Leased 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 19 16
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 48,670 294,253 342,923
Additions 4,281 22,979 27,260
At 31 October 2024 52,951 317,232 370,183
Depreciation
At 1 November 2023 31,121 177,370 208,491
Charge for the year 8,039 60,879 68,918
At 31 October 2024 39,160 238,249 277,409
Net book value
At 31 October 2024 13,791 78,983 92,774
At 31 October 2023 17,549 116,883 134,432
4 Debtors 2024 2023
£ £
Trade debtors 51,024 106,927
Other debtors 1,234,227 883,077
1,285,251 990,004
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 19,083 17,211
Trade creditors 33,908 78,976
Taxation and social security costs 223,180 305,869
Other creditors 76,364 121,909
352,535 523,965
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,455 17,756
Other creditors - 8,256
6,455 26,012
The bank loan is a Bounce Back Loan received on 19 May 2020. The loan is repayable over 6 years with a business interruption payment from the government covering the interest in the first year. Interest is charged at 2.5% per annum. Other creditors include obligations under a hire purchase agreement which is secured on the asset concerned.
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 36,750 51,257
8 Related party transactions
During the year the company loaned £350,490 (2023 - £870,480) to another company jointly owned by the directors. The loan is interest free and repayable on demand. The amount oustanding at the year end is £1,220,970 (2023 - £870,480 and is included in other debtors.
9 Other information
SJB Sash Windows Specialist Ltd is a private company limited by shares and incorporated in England. Its registered office is:
4 The Market
Wrythe Lane
Carshalton
Surrey
SM5 1AG
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