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Registration number: 04672832

Silver Shield Windscreens Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Silver Shield Windscreens Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Silver Shield Windscreens Limited

Company Information

Director

Mr S J Brett

Registered office

12 The Broadway
St Ives
Cambridgeshire
PE27 5BN

Accountants

D A Green & Sons
Chartered Certified Accountants12 The Broadway
St Ives
Cambridgeshire
PE27 5BN

 

Silver Shield Windscreens Limited

(Registration number: 04672832)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

512,669

532,167

Current assets

 

Stocks

6

57,473

46,604

Debtors

7

390,567

398,345

Cash at bank and in hand

 

398,683

541,231

 

846,723

986,180

Creditors: Amounts falling due within one year

8

(334,203)

(477,029)

Net current assets

 

512,520

509,151

Total assets less current liabilities

 

1,025,189

1,041,318

Provisions for liabilities

(41,626)

(48,409)

Net assets

 

983,563

992,909

Capital and reserves

 

Called up share capital

9

500

500

Capital redemption reserve

500

500

Retained earnings

982,563

991,909

Shareholders' funds

 

983,563

992,909

 

Silver Shield Windscreens Limited

(Registration number: 04672832)
Balance Sheet as at 30 September 2024

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 March 2025
 

.........................................
Mr S J Brett
Director

 

Silver Shield Windscreens Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
12 The Broadway
St Ives
Cambridgeshire
PE27 5BN
England

The principal place of business is:
Unit 4
The Old Railway Estate
Needingworth Road
St Ives
Cambs
PE27 4NB

These financial statements were authorised for issue by the director on 11 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Silver Shield Windscreens Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% straight line basis

Motor vehicles

25% reducng balance basis

Office equipment

25% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Silver Shield Windscreens Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Silver Shield Windscreens Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 16 (2023 - 16).

 

Silver Shield Windscreens Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

9,000

9,000

At 30 September 2024

9,000

9,000

Amortisation

At 1 October 2023

9,000

9,000

At 30 September 2024

9,000

9,000

Carrying amount

At 30 September 2024

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

323,356

86,767

347,810

757,933

Additions

-

16,094

29,447

45,541

Disposals

-

-

(38,528)

(38,528)

At 30 September 2024

323,356

102,861

338,729

764,946

Depreciation

At 1 October 2023

-

64,826

160,940

225,766

Charge for the year

-

13,927

49,696

63,623

Eliminated on disposal

-

-

(37,112)

(37,112)

At 30 September 2024

-

78,753

173,524

252,277

Carrying amount

At 30 September 2024

323,356

24,108

165,205

512,669

At 30 September 2023

323,356

21,941

186,870

532,167

Included within the net book value of land and buildings above is £323,356 (2023 - £323,356) in respect of freehold land and buildings.
 

 

Silver Shield Windscreens Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Stocks

2024
£

2023
£

Other inventories

57,473

46,604

7

Debtors

Current

2024
£

2023
£

Trade debtors

377,930

394,463

Prepayments

10,831

3,882

Other debtors

1,806

-

 

390,567

398,345

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

175,976

177,251

Taxation and social security

151,660

120,413

Accruals and deferred income

4,603

4,789

Other creditors

1,964

174,576

334,203

477,029

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

       

10

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £400.00 (2023 - £Nil) per each Ordinary

200,000

-

 

 
 

Silver Shield Windscreens Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

11

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

149,968

149,968

Contributions paid to money purchase schemes

-

83

149,968

150,051

Dividends paid to the director

2024
£

2023
£

Mr S J Brett

Interim dividend paid

200,000

-