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Registration number: 02423024

Durable Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Durable Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Durable Limited

Company Information

Director

Mr S Micuta

Company secretary

Mr S Micuta

Registered office

Unit 6
Newtown Road
Henley-On-Thames
RG9 1HG

Accountants

Carbon Accountancy Limited
Chartered Accountants80-83 Long Lane
London
EC1A 9ET

 

Durable Limited

(Registration number: 02423024)
Balance Sheet as at 31 October 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Tangible assets

4

141,062

89,531

Current assets

 

Stocks

5

25,744

21,556

Debtors

6

708,184

618,121

Cash at bank and in hand

 

13,436

114,136

 

747,364

753,813

Creditors: Amounts falling due within one year

7

(423,546)

(443,704)

Net current assets

 

323,818

310,109

Total assets less current liabilities

 

464,880

399,640

Creditors: Amounts falling due after more than one year

7

(98,049)

(54,520)

Provisions for liabilities

(7,882)

(6,956)

Net assets

 

358,949

338,164

Capital and reserves

 

Called up share capital

8

1,413

1,413

Retained earnings

357,536

336,751

Shareholders' funds

 

358,949

338,164

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 July 2025
 

.........................................
Mr S Micuta
Company secretary and director

 

Durable Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 6
Newtown Road
Henley-On-Thames
RG9 1HG

These financial statements were authorised for issue by the director on 25 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Prior period errors

Bank account balances of non-trading fellow group companies incorrectly reflected in this company have resulted in the following amendments to comparatives:

2024
£

2023
£

2022
£

Loan to group companies

-

206,195

-

Cash at bank

-

(206,195)

-

   

 

Durable Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short Leasehold

5 years straight line

Plant and machinery

15% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Durable Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Durable Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified 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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2023 - 5).

 

Durable Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2023

42,364

92,513

58,316

193,193

Additions

-

105,345

275

105,620

Disposals

-

(1,465)

-

(1,465)

At 31 October 2024

42,364

196,393

58,591

297,348

Depreciation

At 1 November 2023

4,236

41,933

57,493

103,662

Charge for the year

14,121

38,707

162

52,990

Eliminated on disposal

-

(366)

-

(366)

At 31 October 2024

18,357

80,274

57,655

156,286

Carrying amount

At 31 October 2024

24,007

116,119

936

141,062

At 31 October 2023

38,128

50,580

823

89,531

Included within the net book value of land and buildings above is £24,007 (2023 - £38,128) in respect of short leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

25,744

21,556

6

Debtors

Current

Note

2024
£

(As restated)

2023
£

Trade debtors

 

180,543

229,011

Amounts owed by related parties

10

92,504

206,195

Prepayments

 

4,297

2,292

Other debtors

 

430,840

180,623

   

708,184

618,121

 

Durable Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

37,296

101,337

Trade creditors

 

103,621

105,302

Amounts owed to group undertakings

10

-

131,726

Taxation and social security

 

51,855

95,171

Accruals and deferred income

 

7,180

8,373

Other creditors

 

223,594

1,795

 

423,546

443,704

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

98,049

54,520

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,413

1,413

1,413

1,413

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

6,160

16,668

Hire purchase contracts

91,889

37,852

98,049

54,520

 

Durable Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024 (continued)

9

Loans and borrowings (continued)

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,354

9,949

Bank overdrafts

1,405

82,032

Hire purchase contracts

25,537

9,356

37,296

101,337

10

Related party transactions

Included in other creditors is £167,432 (2023: £116,998 due from the director) due to the director which is interest free and repayable on demand.

Under FRS 102, details are not given in respect of transactions between two or more members of the group to which the company belongs as all subsidiaries are wholly owned by the ultimate parent company SM Henley Holdings Limited.

11

Parent and ultimate parent undertaking

The company's immediate parent is Energy Control Products Limited, incorporated in England.

 The ultimate parent is SM Henley Holdings Limited, incorporated in England.