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COMPANY REGISTRATION NUMBER: 07204254
Howard Yarnold (Windows and Doors) Ltd
Unaudited Financial Statements
30 June 2024
Howard Yarnold (Windows and Doors) Ltd
Financial Statements
Period from 1 January 2023 to 30 June 2024
Contents
Page
Director's Report
1
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements
3
Statement of Income and Retained Earnings
4
Statement of Financial Position
5
Notes to the Financial Statements
7
Howard Yarnold (Windows and Doors) Ltd
Director's Report
Period from 1 January 2023 to 30 June 2024
The director presents his report and the unaudited financial statements of the company for the period ended 30 June 2024 .
Principal Activities
The principal activity of the company during the year was manufacture, supply and fitting of windows and doors.
Directors
The directors who served the company during the period were as follows:
Mr M A Garratt
(Appointed 16 January 2024)
Mr G Richell
(Appointed 16 January 2024)
Ms E M E Meunier
(Resigned 16 January 2024)
Mr A I Yarnold
(Resigned 30 June 2023)
Mr M Archer
(Served from 16 January 2024 to 10 May 2024)
Events after the End of the Reporting Period
Particulars of events after the reporting date are detailed in note 11 to the financial statements.
Small Company Provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 25 July 2025 and signed on behalf of the board by:
Mr G Richell
Director
Registered office:
Unit 1
Birkdate Avenue
Birmingham
B29 6UB
Howard Yarnold (Windows and Doors) Ltd
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Howard Yarnold (Windows and Doors) Ltd
Period from 1 January 2023 to 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Howard Yarnold (Windows and Doors) Ltd for the period ended 30 June 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Howard Yarnold (Windows and Doors) Ltd in accordance with the terms of our engagement letter dated 22 June 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Howard Yarnold (Windows and Doors) Ltd and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Howard Yarnold (Windows and Doors) Ltd and its director for our work or for this report.
It is your duty to ensure that Howard Yarnold (Windows and Doors) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Howard Yarnold (Windows and Doors) Ltd. You consider that Howard Yarnold (Windows and Doors) Ltd is exempt from the statutory audit requirement for the period. We have not been instructed to carry out an audit or a review of the financial statements of Howard Yarnold (Windows and Doors) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
WYATT & CO Chartered Accountants
125 Main Street Garforth Leeds LS25 1AF
25 July 2025
Howard Yarnold (Windows and Doors) Ltd
Statement of Income and Retained Earnings
Period from 1 January 2023 to 30 June 2024
Period from
1 Jan 23 to
Year to
30 Jun 24
31 Dec 22
Note
£
£
Turnover
6,112,576
4,700,863
Cost of sales
4,274,447
2,914,607
--------------
--------------
Gross Profit
1,838,129
1,786,256
Administrative expenses
1,720,051
955,158
--------------
--------------
Operating Profit
118,078
831,098
Other interest receivable and similar income
7,863
1,016
--------------
--------------
Profit Before Taxation
5
125,941
832,114
Tax on profit
4,481
65,374
-----------
-----------
Profit for the Financial Period and Total Comprehensive Income
121,460
766,740
-----------
-----------
Dividends paid and payable
( 83,270)
Retained Earnings at the Start of the Period
1,538,178
854,708
--------------
--------------
Retained Earnings at the End of the Period
1,659,638
1,538,178
--------------
--------------
All the activities of the company are from continuing operations.
Howard Yarnold (Windows and Doors) Ltd
Statement of Financial Position
30 June 2024
30 Jun 24
31 Dec 22
Note
£
£
Fixed Assets
Tangible assets
6
43,417
36,160
Current Assets
Stocks
102,336
322,749
Debtors
7
1,973,727
1,513,375
Cash at bank and in hand
99,015
257,369
--------------
--------------
2,175,078
2,093,493
Creditors: amounts falling due within one year
8
546,984
584,082
--------------
--------------
Net Current Assets
1,628,094
1,509,411
--------------
--------------
Total Assets Less Current Liabilities
1,671,511
1,545,571
Provisions
11,472
6,992
--------------
--------------
Net Assets
1,660,039
1,538,579
--------------
--------------
Capital and Reserves
Called up share capital
401
401
Profit and loss account
1,659,638
1,538,178
--------------
--------------
Shareholders Funds
1,660,039
1,538,579
--------------
--------------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the period ending 30 June 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 financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Howard Yarnold (Windows and Doors) Ltd
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 25 July 2025 , and are signed on behalf of the board by:
Mr G Richell
Director
Company registration number: 07204254
Howard Yarnold (Windows and Doors) Ltd
Notes to the Financial Statements
Period from 1 January 2023 to 30 June 2024
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1, Birkdate Avenue, Birmingham, B29 6UB.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating Leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee Numbers
The average number of persons employed by the company during the period amounted to 34 (2022: 34 ).
5. Profit Before Taxation
Profit before taxation is stated after charging:
Period from
1 Jan 23 to
Year to
30 Jun 24
31 Dec 22
£
£
Depreciation of tangible assets
15,966
9,996
---------
--------
6. Tangible Assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 January 2023
26,250
16,009
78,156
21,755
142,170
Additions
16,439
1,483
17,922
Disposals
( 4,715)
( 4,715)
---------
---------
---------
---------
-----------
At 30 June 2024
42,689
16,009
73,441
23,238
155,377
---------
---------
---------
---------
-----------
Depreciation
At 1 January 2023
22,729
13,223
60,347
9,711
106,010
Charge for the period
2,553
958
6,015
636
10,162
Disposals
( 4,212)
( 4,212)
---------
---------
---------
---------
-----------
At 30 June 2024
25,282
14,181
62,150
10,347
111,960
---------
---------
---------
---------
-----------
Carrying amount
At 30 June 2024
17,407
1,828
11,291
12,891
43,417
---------
---------
---------
---------
-----------
At 31 December 2022
3,521
2,786
17,809
12,044
36,160
---------
---------
---------
---------
-----------
7. Debtors
30 Jun 24
31 Dec 22
£
£
Trade debtors
354,401
701,220
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,554,164
706,617
Other debtors
65,162
105,538
--------------
--------------
1,973,727
1,513,375
--------------
--------------
8. Creditors: amounts falling due within one year
30 Jun 24
31 Dec 22
£
£
Trade creditors
409,933
343,211
Corporation tax
130,506
Social security and other taxes
86,673
26,966
Pensions
3,525
4,285
Other creditors
46,853
79,114
-----------
-----------
546,984
584,082
-----------
-----------
9. Operating Leases
As lessor
The total future minimum lease payments receivable under non-cancellable operating leases are as follows:
30 Jun 24
31 Dec 22
£
£
Later than 1 year and not later than 5 years
146,250
146,250
-----------
-----------
At the year end, Howard Yarnold (Windows and Doors) Ltd had lease commmittments totalling £146,250 (2022 £146,250)
10. Contingencies
Security is held over the assets of the company by creditors of the parent company. Northfields Kelvinside Ltd. Then total borrowing is £1,935,625 (2022 £3,078,125)
11. Events after the End of the Reporting Period
Since the year end, the company has suffered a material bad debt from one of its trading partners. This company, which suffered its own bad debt, is pursuing legal action to recover its money, and to make good on its liability.
12. Director's Advances, Credits and Guarantees
During the year, one director provided a loan to the company. The opening and highest balance was £322 and the closing balance was £Nil. The loan was interest free and repayable on demand
13. Related Party Transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard FRS102, not to disclose related party transactions with wholly owned subsidiaries within the group. The company has traded with Barton Windows Limited, a company in which the director has a financial interest. Turnover was £846,020 and the closing balance was £278,549.
14. Controlling Party
The parent company is Northfields Kevinside Ltd