Silverfin false false 31/08/2024 01/09/2023 31/08/2024 George Murchie 22/02/2016 Simon James Traynor 12/07/2017 19 March 2025 The principal activity of the Company continued to be that of the manufacture, production and sale of doors. SC509757 2024-08-31 SC509757 bus:Director1 2024-08-31 SC509757 bus:Director2 2024-08-31 SC509757 2023-08-31 SC509757 core:CurrentFinancialInstruments 2024-08-31 SC509757 core:CurrentFinancialInstruments 2023-08-31 SC509757 core:Non-currentFinancialInstruments 2024-08-31 SC509757 core:Non-currentFinancialInstruments 2023-08-31 SC509757 core:ShareCapital 2024-08-31 SC509757 core:ShareCapital 2023-08-31 SC509757 core:RetainedEarningsAccumulatedLosses 2024-08-31 SC509757 core:RetainedEarningsAccumulatedLosses 2023-08-31 SC509757 core:PlantMachinery 2023-08-31 SC509757 core:Vehicles 2023-08-31 SC509757 core:ComputerEquipment 2023-08-31 SC509757 core:PlantMachinery 2024-08-31 SC509757 core:Vehicles 2024-08-31 SC509757 core:ComputerEquipment 2024-08-31 SC509757 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2024-08-31 SC509757 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2023-08-31 SC509757 bus:OrdinaryShareClass1 2024-08-31 SC509757 bus:OrdinaryShareClass2 2024-08-31 SC509757 2023-09-01 2024-08-31 SC509757 bus:FilletedAccounts 2023-09-01 2024-08-31 SC509757 bus:SmallEntities 2023-09-01 2024-08-31 SC509757 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 SC509757 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC509757 bus:Director1 2023-09-01 2024-08-31 SC509757 bus:Director2 2023-09-01 2024-08-31 SC509757 core:PlantMachinery core:BottomRangeValue 2023-09-01 2024-08-31 SC509757 core:PlantMachinery core:TopRangeValue 2023-09-01 2024-08-31 SC509757 core:Vehicles core:TopRangeValue 2023-09-01 2024-08-31 SC509757 core:ComputerEquipment core:TopRangeValue 2023-09-01 2024-08-31 SC509757 2022-09-01 2023-08-31 SC509757 core:PlantMachinery 2023-09-01 2024-08-31 SC509757 core:Vehicles 2023-09-01 2024-08-31 SC509757 core:ComputerEquipment 2023-09-01 2024-08-31 SC509757 core:Non-currentFinancialInstruments 2023-09-01 2024-08-31 SC509757 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 SC509757 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 SC509757 bus:OrdinaryShareClass2 2023-09-01 2024-08-31 SC509757 bus:OrdinaryShareClass2 2022-09-01 2023-08-31 SC509757 1 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC509757 (Scotland)

TRAYNOR WILLIAMS DOOR SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH THE REGISTRAR

TRAYNOR WILLIAMS DOOR SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024

Contents

TRAYNOR WILLIAMS DOOR SOLUTIONS LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2024
TRAYNOR WILLIAMS DOOR SOLUTIONS LIMITED

BALANCE SHEET (continued)

AS AT 31 AUGUST 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 94,441 141,065
94,441 141,065
Current assets
Stocks 307,000 196,882
Debtors 4 617,359 637,750
Cash at bank and in hand 82,027 60,825
1,006,386 895,457
Creditors: amounts falling due within one year 5 ( 498,722) ( 432,019)
Net current assets 507,664 463,438
Total assets less current liabilities 602,105 604,503
Creditors: amounts falling due after more than one year 6 ( 47,010) ( 80,733)
Provision for liabilities ( 8,691) ( 5,334)
Net assets 546,404 518,436
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 546,402 518,434
Total shareholders' funds 546,404 518,436

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Traynor Williams Door Solutions Limited (registered number: SC509757) were approved and authorised for issue by the Board of Directors on 19 March 2025. They were signed on its behalf by:

Simon James Traynor
Director
TRAYNOR WILLIAMS DOOR SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
TRAYNOR WILLIAMS DOOR SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Traynor Williams Door Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 9 Loanbank Place, Glasgow, G51 3HN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 5 - 10 years straight line
Vehicles 4 years straight line
Computer equipment 3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 12

3. Tangible assets

Plant and machinery Vehicles Computer equipment Total
£ £ £ £
Cost
At 01 September 2023 278,360 59,113 1,120 338,593
At 31 August 2024 278,360 59,113 1,120 338,593
Accumulated depreciation
At 01 September 2023 185,880 10,921 727 197,528
Charge for the financial year 32,796 13,653 175 46,624
At 31 August 2024 218,676 24,574 902 244,152
Net book value
At 31 August 2024 59,684 34,539 218 94,441
At 31 August 2023 92,480 48,192 393 141,065

4. Debtors

2024 2023
£ £
Trade debtors 558,394 634,101
Amounts owed by connected companies 57,345 2,245
Other debtors 1,620 1,404
617,359 637,750

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors 368,619 283,022
Corporation tax 58,957 34,386
Other taxation and social security 27,889 71,419
Obligations under finance leases and hire purchase contracts 29,830 29,830
Other creditors 3,427 3,362
498,722 432,019

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 7,500 17,500
Obligations under finance leases and hire purchase contracts 39,510 63,233
47,010 80,733

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
4 A ordinary shares of £ 0.20 each 0.80 0.80
6 B ordinary shares of £ 0.20 each 1.20 1.20
2.00 2.00

8. Related party transactions

At 31 August 2024 £57,345 (2023: £2,245) was due from a Company with a shareholding within Traynor Williams Door Solutions Limited. These loans are interest free and have no fixed repayment terms.

9. Ultimate controlling party

Parent Company:

Traynor Williams Ironmongery (Glasgow) Ltd.
Acre House
11/15 William Road
London
NW1 3ER

At 31 August 2024 an amount was due by the parent company of £57,345