Registered number
05214839
Skylight Double Glazing Ltd
Filleted Accounts
31 August 2024
Skylight Double Glazing Ltd
Registered number: 05214839
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 49,343 43,794
Current assets
Stocks 15,380 57,877
Debtors 4 107,308 100,818
Cash at bank and in hand 131,940 22,650
254,628 181,345
Creditors: amounts falling due within one year 5 (85,417) (46,535)
Net current assets 169,211 134,810
Total assets less current liabilities 218,554 178,604
Creditors: amounts falling due after more than one year 6 (10,386) (38,880)
Net assets 208,168 139,724
Capital and reserves
Called up share capital 1 1
Profit and loss account 208,167 139,723
Shareholders' funds 208,168 139,724
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Paramjit Singh
Director
Approved by the board on 19 May 2025
Skylight Double Glazing Ltd
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% reducing balance
Motor Vehicles 8% reucing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 8
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 83,270 44,723 127,993
Additions - 24,167 24,167
Disposals - (14,000) (14,000)
At 31 August 2024 83,270 54,890 138,160
Depreciation
At 1 September 2023 68,249 15,950 84,199
Charge for the year 1,502 3,116 4,618
At 31 August 2024 69,751 19,066 88,817
Net book value
At 31 August 2024 13,519 35,824 49,343
At 31 August 2023 15,021 28,773 43,794
4 Debtors 2024 2023
£ £
Trade debtors 39,812 57,041
Amounts owed by group undertakings 30,693 30,699
Other debtors 36,803 13,078
107,308 100,818
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 164 907
Taxation and social security costs 26,420 6,248
Other creditors 58,833 39,380
85,417 46,535
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,311 32,805
Other creditors 6,075 6,075
10,386 38,880
7 Other information
Skylight Double Glazing Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 3, 58 Oaklands Park Avenue
Ilford
IG1 1TG
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