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REGISTERED NUMBER: 03440074 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 October 2024

for

Sealant & Construction Services Limited

Sealant & Construction Services Limited (Registered number: 03440074)






Contents of the Financial Statements
for the Year Ended 30 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sealant & Construction Services Limited

Company Information
for the Year Ended 30 October 2024







DIRECTORS: D Rogers
Mrs A J Rogers





SECRETARY: Mrs A J Rogers





REGISTERED OFFICE: The Stables
Summer Road
Walsham Le Willows
Suffolk
IP31 3AJ





REGISTERED NUMBER: 03440074 (England and Wales)





ACCOUNTANTS: Mead Accounting Limited
Chartered Certified Accountants
The Stables
Summer Road
Walsham Le Willows
Suffolk
IP31 3AJ

Sealant & Construction Services Limited (Registered number: 03440074)

Balance Sheet
30 October 2024

30.10.24 30.10.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,570 4,943
3,570 4,943

CURRENT ASSETS
Stocks 44,000 40,000
Debtors 6 488,450 477,898
Cash at bank and in hand 303,230 324,346
835,680 842,244
CREDITORS
Amounts falling due within one year 7 526,332 558,507
NET CURRENT ASSETS 309,348 283,737
TOTAL ASSETS LESS CURRENT LIABILITIES 312,918 288,680

PROVISIONS FOR LIABILITIES 9 893 96
NET ASSETS 312,025 288,584

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 311,025 287,584
SHAREHOLDERS' FUNDS 312,025 288,584

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Sealant & Construction Services Limited (Registered number: 03440074)

Balance Sheet - continued
30 October 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 May 2025 and were signed on its behalf by:





Mrs A J Rogers - Director


Sealant & Construction Services Limited (Registered number: 03440074)

Notes to the Financial Statements
for the Year Ended 30 October 2024

1. STATUTORY INFORMATION

Sealant & Construction Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Fees are recognised as earned when the company obtains the right to receive the consideration in return for its performance under its contracts.

For incomplete contracts, revenue is recognised to reflect the accrual of the right to consideration as contract activity progresses. This amount will reflect the value of the services provided as a proportion of the total value of the contract. Revenue in respect of contingent fee engagements is recognised when the contingent event occurs and recoverability of the fee is assured.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of one years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - Straight line over 6 years

Impairment
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments (but excluding investment properties), are assessed to determine whether there is an indication that those assets have suffered an impairment loss. If any indication arises, the recoverable amount is estimated and compared to its carrying amount to determine if an impairment loss has arisen.
If the recoverable amount is lower, the carrying amount of the asset is written down to its recoverable amount and an impairment loss is recognised in profit and loss. The recoverable amount of the asset is the higher of its value in use and its net realisable value.

Sealant & Construction Services Limited (Registered number: 03440074)

Notes to the Financial Statements - continued
for the Year Ended 30 October 2024

2. ACCOUNTING POLICIES - continued

Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Work in progress is valued at the lower of cost together with a proportion of overheads and net realisable value, after making due allowance for obsolete or slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from financial institutions or other related parties.

Debts instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, ,are measured initially and subsequently at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between as asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Sealant & Construction Services Limited (Registered number: 03440074)

Notes to the Financial Statements - continued
for the Year Ended 30 October 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 31 October 2023
and 30 October 2024 3,250
AMORTISATION
At 31 October 2023
and 30 October 2024 3,250
NET BOOK VALUE
At 30 October 2024 -
At 30 October 2023 -

Sealant & Construction Services Limited (Registered number: 03440074)

Notes to the Financial Statements - continued
for the Year Ended 30 October 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 31 October 2023 221,141
Additions 4,080
At 30 October 2024 225,221
DEPRECIATION
At 31 October 2023 216,198
Charge for year 5,453
At 30 October 2024 221,651
NET BOOK VALUE
At 30 October 2024 3,570
At 30 October 2023 4,943

6. DEBTORS
30.10.24 30.10.23
£    £   
Amounts falling due within one year:
Trade debtors 441,738 420,806
Other debtors 16,091 13,015
457,829 433,821

Amounts falling due after more than one year:
Trade debtors 30,621 44,077

Aggregate amounts 488,450 477,898

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.10.24 30.10.23
£    £   
Trade creditors 41,905 53,941
Amounts owed to group undertakings 262,639 311,557
Taxation and social security 72,702 85,121
Other creditors 149,086 107,888
526,332 558,507

Included in other creditors is an amount owed to directors of £75,700 (2023 - £48,276).

Sealant & Construction Services Limited (Registered number: 03440074)

Notes to the Financial Statements - continued
for the Year Ended 30 October 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

30.10.24 30.10.23
£    £   
Amounts owed to parent 262,639 311,557

The above amounts are secured by fixed and floating charges over the assets of the company.

Amounts owed to the directors are secured by fixed charges over the assets of the company.

9. PROVISIONS FOR LIABILITIES
30.10.24 30.10.23
£    £   
Deferred tax
Accelerated capital allowances 893 96

Deferred
tax
£   
Balance at 31 October 2023 96
Provided during year 797
Balance at 30 October 2024 893

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.10.24 30.10.23
value: £    £   
1,000 Ordinary £1 1,000 1,000