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WILTONS INSULATION FLUES & CHIMNEYS LIMITED

Registered Number
03257258
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

WILTONS INSULATION FLUES & CHIMNEYS LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

BROWN, Dionisia
MURPHY, Michael Glen

Company Secretary

BROWN, Dionisia

Registered Address

Unit 6, Spitfire Business Park
1, Hawker Road
Croydon
CR0 4WD

Registered Number

03257258 (England and Wales)
WILTONS INSULATION FLUES & CHIMNEYS LIMITED
Statement of Financial Position
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets320,62422,258
20,62422,258
Current assets
Stocks42,0002,000
Debtors5375,167604,822
Cash at bank and on hand141,553-
518,720606,822
Creditors amounts falling due within one year6(474,105)(407,356)
Net current assets (liabilities)44,615199,466
Total assets less current liabilities65,239221,724
Creditors amounts falling due after one year7(4,921)(11,482)
Provisions for liabilities9(4,232)(4,674)
Net assets56,086205,568
Capital and reserves
Called up share capital610610
Profit and loss account55,476204,958
Shareholders' funds56,086205,568
The financial statements were approved and authorised for issue by the Board of Directors on 24 March 2025, and are signed on its behalf by:
BROWN, Dionisia
Director
MURPHY, Michael Glen
Director

Registered Company No. 03257258
WILTONS INSULATION FLUES & CHIMNEYS LIMITED
Notes to the Financial Statements
for the year ended 31 August 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.
Turnover policy
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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:

Reducing balance (%)
Fixtures and fittings15
Vehicles25
Office Equipment25
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
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year116
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 September 23-30,9995,8671,77038,636
Additions2,320--2,4254,745
At 31 August 242,32030,9995,8674,19543,381
Depreciation and impairment
At 01 September 23-13,5602,15366516,378
Charge for year5804,3605578826,379
At 31 August 2458017,9202,7101,54722,757
Net book value
At 31 August 241,74013,0793,1572,64820,624
At 31 August 23-17,4393,7141,10522,258
4.Stocks

2024

2023

££
Other stocks2,0002,000
Total2,0002,000
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables306,856471,561
Other debtors68,311133,261
Total375,167604,822
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables335,040257,259
Bank borrowings and overdrafts-7,771
Taxation and social security53,51937,775
Finance lease and HP contracts6,5616,561
Other creditors78,98597,990
Total474,105407,356
7.Creditors: amounts due after one year

2024

2023

££
Other creditors4,92111,482
Total4,92111,482
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts4,92111,482
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)4,2324,674
Total4,2324,674
10.Related party transactions
At the balance sheet date, included in amounts owed by associated undertakings were amounts of £89,342 (2023: £89,342) due from Wiltons Insulation Limited , the company under common control. Wiltons Insulation Ltd is in the process of liquidation. At the balance sheet date, included in trade creditors were amounts of Nil (2023: £3,600) due to Wiltons Building Services Ltd, the company under common control. During the year Wiltons Building Services Ltd, the company under common control charged rent to Wiltons Insulation Flues & Chimneys Limited of £36,000 (2023: £36,000).
11.Exceptional items
During the year £89,342 of expenditure of exceptional size or incidence was recorded and related to writing off a loan to Wilton Insulation as the company dissolved within the Year ended 31 August 2024.
12.Further information regarding the company's financial position
The company's overdraft facilities are secured by a debenture on the company and directors unsupported guarantees.