2023-04-012024-03-302024-03-30false05094202TEAM VALLEY WINDOWS AND CONSERVATORIES 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TEAM VALLEY WINDOWS AND CONSERVATORIES LIMITED

Registered Number
05094202
(England and Wales)

Unaudited Financial Statements for the Period ended
30 March 2024

TEAM VALLEY WINDOWS AND CONSERVATORIES LIMITED
Company Information
for the period from 1 April 2023 to 30 March 2024

Directors

VAUGHAN, Andrew
VAUGHAN, Thomas James

Company Secretary

VAUGHAN, Andrew

Registered Address

190 Kingsway South
Team Valley Trading Estate
Gateshead
NE11 0SH

Registered Number

05094202 (England and Wales)
TEAM VALLEY WINDOWS AND CONSERVATORIES LIMITED
Balance Sheet as at
30 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets329,23242,240
29,23242,240
Current assets
Stocks427,00027,000
Debtors5139,19663,957
166,19690,957
Creditors amounts falling due within one year6(177,209)(109,023)
Net current assets (liabilities)(11,013)(18,066)
Total assets less current liabilities18,21924,174
Creditors amounts falling due after one year7(14,121)(24,063)
Net assets4,098111
Capital and reserves
Called up share capital100100
Profit and loss account3,99811
Shareholders' funds4,098111
The financial statements were approved and authorised for issue by the Board of Directors on 6 March 2025, and are signed on its behalf by:
VAUGHAN, Andrew
Director
VAUGHAN, Thomas James
Director

Registered Company No. 05094202
TEAM VALLEY WINDOWS AND CONSERVATORIES LIMITED
Notes to the Financial Statements
for the period ended 30 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery5
Vehicles5
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.Average number of employees

20242023
Average number of employees during the year66
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 April 2378,46366,739145,202
At 30 March 2478,46366,739145,202
Depreciation and impairment
At 01 April 2352,53650,426102,962
Charge for year5,9917,01713,008
At 30 March 2458,52757,443115,970
Net book value
At 30 March 2419,9369,29629,232
At 31 March 2325,92716,31342,240
4.Stocks

2024

2023

££
Work in progress27,00027,000
Total27,00027,000
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables50,2831,248
Amounts owed by associates and joint ventures / participating interests44,56132,992
Other debtors44,35229,717
Total139,19663,957
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables120,43881,503
Bank borrowings and overdrafts11,04515,294
Taxation and social security44,13611,176
Other creditors491-
Accrued liabilities and deferred income1,0991,050
Total177,209109,023
Short term creditors are measured at transaction price (which is usually the invoice 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.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts14,12124,063
Total14,12124,063