Registered number
09323315
SRS Windows And Doors Limited
Filleted Accounts
30 November 2024
SRS Windows And Doors Limited
Registered number: 09323315
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 226,096 97,534
Current assets
Debtors 4 80,575 82,180
Cash at bank and in hand 50,258 58,984
130,833 141,164
Creditors: amounts falling due within one year 5 (149,746) (132,184)
Net current (liabilities)/assets (18,913) 8,980
Total assets less current liabilities 207,183 106,514
Creditors: amounts falling due after more than one year 6 (186,440) (61,391)
Provisions for liabilities (11,731) (24,384)
Net assets 9,012 20,739
Capital and reserves
Called up share capital 2 2
Profit and loss account 9,010 20,737
Shareholders' funds 9,012 20,739
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.
W J Crowe
Director
Approved by the board on 14 July 2025
SRS Windows And Doors Limited
Notes to the Accounts
for the year ended 30 November 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:
Motor Vehicle 25% reducing balance method
Plant and machinery 25% reducing balance method
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2023 2,068 120,759 122,827
Additions - 240,954 240,954
Disposals - (49,368) (49,368)
At 30 November 2024 2,068 312,345 314,413
Depreciation
At 1 December 2023 517 24,776 25,293
Charge for the year 388 74,978 75,366
On disposals - (12,342) (12,342)
At 30 November 2024 905 87,412 88,317
Net book value
At 30 November 2024 1,163 224,933 226,096
At 30 November 2023 1,551 95,983 97,534
4 Debtors 2024 2023
£ £
Trade debtors 73,575 75,180
Other debtors 7,000 7,000
80,575 82,180
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 16,651 9,961
Obligations under finance lease and hire purchase contracts 56,270 55,556
Trade creditors 2,000 3,245
Amounts owed to group undertakings and undertakings in which the company has a participating interest 604 -
Taxation and social security costs 72,919 60,332
Other creditors 1,302 3,090
149,746 132,184
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,318 14,279
Obligations under finance lease and hire purchase contracts 182,122 47,112
186,440 61,391
7 Other information
SRS Windows And Doors Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Mount Avenue
Chaldon
Caterham
CR3 5BB
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