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Registered number: 05915274
L.P. Window Controls Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05915274
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 398,057 374,735
398,057 374,735
CURRENT ASSETS
Stocks 5 439,000 434,659
Debtors 6 109,716 153,544
Cash at bank and in hand 824,799 677,838
1,373,515 1,266,041
Creditors: Amounts Falling Due Within One Year 7 (208,236 ) (156,551 )
NET CURRENT ASSETS (LIABILITIES) 1,165,279 1,109,490
TOTAL ASSETS LESS CURRENT LIABILITIES 1,563,336 1,484,225
PROVISIONS FOR LIABILITIES
Deferred Taxation (35,360 ) (29,359 )
NET ASSETS 1,527,976 1,454,866
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 1,527,876 1,454,766
SHAREHOLDERS' FUNDS 1,527,976 1,454,866
Page 1
Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Marguerite Pratley
Director
Mr Leonard Pratley
Director
17/03/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
L.P. Window Controls Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05915274 . The registered office is Unit 9 Buckwins Square, Basildon, Essex, SS13 1BJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold - At cost
Plant & Machinery - 25% R.B.
Fixtures & Fittings - 5% S.L.
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 2 2
Manufacturing 7 6
9 8
Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 December 2023 248,438 147,442 36,996 432,876
Additions - 62,032 - 62,032
As at 30 November 2024 248,438 209,474 36,996 494,908
Depreciation
As at 1 December 2023 - 45,192 12,949 58,141
Provided during the period - 36,861 1,849 38,710
As at 30 November 2024 - 82,053 14,798 96,851
Net Book Value
As at 30 November 2024 248,438 127,421 22,198 398,057
As at 1 December 2023 248,438 102,250 24,047 374,735
5. Stocks
2024 2023
£ £
Materials 439,000 434,659
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 108,459 152,481
Prepayments and accrued income 1,257 1,063
109,716 153,544
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 57,518 795
Corporation tax 52,870 66,332
Other taxes and social security 7,148 6,287
VAT 18,726 16,798
Other creditors 4,421 7,714
Accruals and deferred income 6,670 5,250
Directors' loan accounts 60,883 53,375
208,236 156,551
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Page 5
9. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 1 December 2023 Amounts advanced Amounts repaid Amounts written off As at 30 November 2024
£ £ £ £ £
Mrs Marguerite Pratley 27,590 2,852 - - 30,442
Mr Leonard Pratley 25,784 4,658 - - 30,442
The above loan is unsecured, interest free and repayable on demand.
Page 5