Silverfin false false 31/08/2024 01/09/2023 31/08/2024 G Clarke 01/08/2024 R Clasby 05/08/2002 A Ingram 01/08/2024 05/08/2002 C Milsted 31/08/2021 D Sparks 01/09/2021 30 May 2025 The principal activity of the Company during the financial year was the production and installation of aluminium glazing systems. 04503836 2024-08-31 04503836 bus:Director1 2024-08-31 04503836 bus:Director2 2024-08-31 04503836 bus:Director3 2024-08-31 04503836 bus:Director4 2024-08-31 04503836 bus:Director5 2024-08-31 04503836 2023-08-31 04503836 core:CurrentFinancialInstruments 2024-08-31 04503836 core:CurrentFinancialInstruments 2023-08-31 04503836 core:Non-currentFinancialInstruments 2024-08-31 04503836 core:Non-currentFinancialInstruments 2023-08-31 04503836 core:ShareCapital 2024-08-31 04503836 core:ShareCapital 2023-08-31 04503836 core:RetainedEarningsAccumulatedLosses 2024-08-31 04503836 core:RetainedEarningsAccumulatedLosses 2023-08-31 04503836 core:Goodwill 2023-08-31 04503836 core:Goodwill 2024-08-31 04503836 core:PlantMachinery 2023-08-31 04503836 core:Vehicles 2023-08-31 04503836 core:PlantMachinery 2024-08-31 04503836 core:Vehicles 2024-08-31 04503836 core:CurrentFinancialInstruments 1 2024-08-31 04503836 core:CurrentFinancialInstruments 1 2023-08-31 04503836 core:WithinOneYear 2024-08-31 04503836 core:WithinOneYear 2023-08-31 04503836 core:BetweenOneFiveYears 2024-08-31 04503836 core:BetweenOneFiveYears 2023-08-31 04503836 2023-09-01 2024-08-31 04503836 bus:FilletedAccounts 2023-09-01 2024-08-31 04503836 bus:SmallEntities 2023-09-01 2024-08-31 04503836 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 04503836 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04503836 bus:Director1 2023-09-01 2024-08-31 04503836 bus:Director2 2023-09-01 2024-08-31 04503836 bus:Director3 2023-09-01 2024-08-31 04503836 bus:Director4 2023-09-01 2024-08-31 04503836 bus:Director5 2023-09-01 2024-08-31 04503836 core:Goodwill core:TopRangeValue 2023-09-01 2024-08-31 04503836 core:Goodwill 2023-09-01 2024-08-31 04503836 core:PlantMachinery 2023-09-01 2024-08-31 04503836 core:Vehicles core:TopRangeValue 2023-09-01 2024-08-31 04503836 2022-09-01 2023-08-31 04503836 core:Vehicles 2023-09-01 2024-08-31 04503836 core:CurrentFinancialInstruments 2023-09-01 2024-08-31 04503836 core:Non-currentFinancialInstruments 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Company No: 04503836 (England and Wales)

TOTAL ALUMINIUM SYSTEMS LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

TOTAL ALUMINIUM SYSTEMS LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

TOTAL ALUMINIUM SYSTEMS LIMITED

BALANCE SHEET

As at 31 August 2024
TOTAL ALUMINIUM SYSTEMS LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 60,421 24,516
60,421 24,516
Current assets
Stocks 5 243,100 152,052
Debtors 6 529,594 478,541
Cash at bank and in hand 33,227 33,644
805,921 664,237
Creditors: amounts falling due within one year 7 ( 601,515) ( 343,211)
Net current assets 204,406 321,026
Total assets less current liabilities 264,827 345,542
Creditors: amounts falling due after more than one year 8 ( 7,500) ( 17,500)
Provision for liabilities ( 14,900) ( 5,675)
Net assets 242,427 322,367
Capital and reserves
Called-up share capital 100 100
Profit and loss account 242,327 322,267
Total shareholders' funds 242,427 322,367

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 Total Aluminium Systems Limited (registered number: 04503836) were approved and authorised for issue by the Board of Directors on 30 May 2025. They were signed on its behalf by:

R Clasby
Director
C Milsted
Director
TOTAL ALUMINIUM SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
TOTAL ALUMINIUM SYSTEMS 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

Total Aluminium Systems Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Nicolle House, Livingstone Way, Bindon Road, Taunton, TA2 6BD, 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 £.

Turnover

Turnover comprises the fair value of the consideration receivable for the sale and fitting of aluminium glazing systems in the ordinary course of the company’s activities. Turnover is shown net of sales/value-added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
It is probable that future economic benefits will flow to the entity;
Specific criteria have been met for each of the company's activities.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. 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. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 4 years straight line
Goodwill

Goodwill arises on business combinations and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation as aforementioned above.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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 25 % reducing balance
Vehicles 6.67 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade and other debtors

Trade debtors are amounts due from customers for the sale and fitting of aluminium glazing systems, in the ordinary course of business.

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial in such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade and other creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 13 14

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 September 2023 210,000 210,000
At 31 August 2024 210,000 210,000
Accumulated amortisation
At 01 September 2023 210,000 210,000
At 31 August 2024 210,000 210,000
Net book value
At 31 August 2024 0 0
At 31 August 2023 0 0

4. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 September 2023 99,851 67,730 167,581
Additions 1,675 47,985 49,660
Disposals 0 ( 25,961) ( 25,961)
At 31 August 2024 101,526 89,754 191,280
Accumulated depreciation
At 01 September 2023 75,335 67,730 143,065
Charge for the financial year 6,555 7,200 13,755
Disposals 0 ( 25,961) ( 25,961)
At 31 August 2024 81,890 48,969 130,859
Net book value
At 31 August 2024 19,636 40,785 60,421
At 31 August 2023 24,516 0 24,516

5. Stocks

2024 2023
£ £
Raw materials 15,500 27,061
Work in progress 227,600 124,991
243,100 152,052

6. Debtors

2024 2023
£ £
Trade debtors 276,333 261,900
Amounts owed by Group undertakings 133,700 154,700
Corporation tax 14,918 0
Other debtors 104,643 61,941
529,594 478,541

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors 348,507 163,927
CIS withheld 3,461 1,024
Taxation and social security 16,615 56,602
Other creditors 222,932 111,658
601,515 343,211

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

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

2024 2023
£ £
Bank loans 7,500 17,500

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

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 36,000 36,000
between one and five years 72,000 108,000
108,000 144,000

10. Ultimate controlling party

Parent Company:

Total Aluminium Holdings Limited
Goodwood House, Blackbrook Park Avenue, Taunton, Somerset, TA1 2PX