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REGISTERED NUMBER: NI613590 (Northern Ireland)











Passive Window Systems Ltd

Unaudited Financial Statements

for the Year Ended 31 July 2024






Passive Window Systems Ltd (Registered number: NI613590)

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










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


Passive Window Systems Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: C Power
Ms C Devlin





REGISTERED OFFICE: 13 Ballyweely Road
Cabra
Newry
Co. Down
BT34 5RQ





REGISTERED NUMBER: NI613590 (Northern Ireland)





ACCOUNTANTS: S.M. Vint & Company
Chartered Certified Accountants
8 Newry Road
Banbridge
Co. Down
BT32 3HN

Passive Window Systems Ltd

Report of the Accountants to the Directors of
Passive Window Systems Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 July 2024 set out on pages four to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






S.M. Vint & Company
Chartered Certified Accountants
8 Newry Road
Banbridge
Co. Down
BT32 3HN


10 February 2025

Passive Window Systems Ltd (Registered number: NI613590)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,791 238

CURRENT ASSETS
Stocks 464,000 100,000
Debtors 5 49,017 114,577
Cash at bank - 53,667
513,017 268,244
CREDITORS
Amounts falling due within one year 6 315,706 190,960
NET CURRENT ASSETS 197,311 77,284
TOTAL ASSETS LESS CURRENT
LIABILITIES

201,102

77,522

CREDITORS
Amounts falling due after more than
one year

7

711

143,637

PROVISIONS FOR LIABILITIES (776 ) -
NET ASSETS 201,037 221,159

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 201,035 221,157
SHAREHOLDERS' FUNDS 201,037 221,159

Passive Window Systems Ltd (Registered number: NI613590)

Balance Sheet - continued
31 July 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 10 February 2025 and were signed on its behalf by:





C Power - Director


Passive Window Systems Ltd (Registered number: NI613590)

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


1. STATUTORY INFORMATION

Passive Window Systems Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

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.

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.

Passive Window Systems Ltd (Registered number: NI613590)

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


2. ACCOUNTING POLICIES - continued

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 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 August 2023 - 582 582
Additions 4,500 - 4,500
At 31 July 2024 4,500 582 5,082
DEPRECIATION
At 1 August 2023 - 344 344
Charge for year 900 47 947
At 31 July 2024 900 391 1,291
NET BOOK VALUE
At 31 July 2024 3,600 191 3,791
At 31 July 2023 - 238 238

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 49,017 114,577

Passive Window Systems Ltd (Registered number: NI613590)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 88,729 44,355
Trade creditors 490 1,867
Taxation and social security 35,946 41,766
Other creditors 190,541 102,972
315,706 190,960

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Other creditors (711 ) (143,637 )