Silverfin false false 31/03/2025 01/04/2024 31/03/2025 Mr N Flavin 27/11/2018 Mr P Flavin 27/11/2018 Mr A Gill 22/02/2012 Mr G Wilson 27/11/2018 Mr N P Flavin 01 August 2025 The principal activity of the company during the financial year was roofing contractors. 07562752 2025-03-31 07562752 bus:Director1 2025-03-31 07562752 bus:Director2 2025-03-31 07562752 bus:Director3 2025-03-31 07562752 bus:Director4 2025-03-31 07562752 2024-03-31 07562752 core:CurrentFinancialInstruments 2025-03-31 07562752 core:CurrentFinancialInstruments 2024-03-31 07562752 core:Non-currentFinancialInstruments 2025-03-31 07562752 core:Non-currentFinancialInstruments 2024-03-31 07562752 core:ShareCapital 2025-03-31 07562752 core:ShareCapital 2024-03-31 07562752 core:CapitalRedemptionReserve 2025-03-31 07562752 core:CapitalRedemptionReserve 2024-03-31 07562752 core:RetainedEarningsAccumulatedLosses 2025-03-31 07562752 core:RetainedEarningsAccumulatedLosses 2024-03-31 07562752 core:PlantMachinery 2024-03-31 07562752 core:Vehicles 2024-03-31 07562752 core:OfficeEquipment 2024-03-31 07562752 core:PlantMachinery 2025-03-31 07562752 core:Vehicles 2025-03-31 07562752 core:OfficeEquipment 2025-03-31 07562752 core:UltimateParent core:CurrentFinancialInstruments 2025-03-31 07562752 core:UltimateParent core:CurrentFinancialInstruments 2024-03-31 07562752 core:CurrentFinancialInstruments 1 2025-03-31 07562752 core:CurrentFinancialInstruments 1 2024-03-31 07562752 bus:OrdinaryShareClass1 2025-03-31 07562752 2024-04-01 2025-03-31 07562752 bus:FilletedAccounts 2024-04-01 2025-03-31 07562752 bus:SmallEntities 2024-04-01 2025-03-31 07562752 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 07562752 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 07562752 bus:Director1 2024-04-01 2025-03-31 07562752 bus:Director2 2024-04-01 2025-03-31 07562752 bus:Director3 2024-04-01 2025-03-31 07562752 bus:Director4 2024-04-01 2025-03-31 07562752 bus:Director5 2024-04-01 2025-03-31 07562752 core:PlantMachinery 2024-04-01 2025-03-31 07562752 core:Vehicles 2024-04-01 2025-03-31 07562752 core:OfficeEquipment 2024-04-01 2025-03-31 07562752 2023-04-01 2024-03-31 07562752 core:CurrentFinancialInstruments 2024-04-01 2025-03-31 07562752 core:Non-currentFinancialInstruments 2024-04-01 2025-03-31 07562752 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 07562752 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07562752 (England and Wales)

SINGLE PLY STRUCTURES LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

SINGLE PLY STRUCTURES LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

SINGLE PLY STRUCTURES LIMITED

BALANCE SHEET

As at 31 March 2025
SINGLE PLY STRUCTURES LIMITED

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 208,752 360,983
208,752 360,983
Current assets
Stocks 117,000 83,607
Debtors 4 881,585 961,803
Cash at bank and in hand 136,419 329,736
1,135,004 1,375,146
Creditors: amounts falling due within one year 5 ( 543,548) ( 818,078)
Net current assets 591,456 557,068
Total assets less current liabilities 800,208 918,051
Creditors: amounts falling due after more than one year 6 ( 74,986) ( 305,973)
Provision for liabilities ( 45,000) ( 50,500)
Net assets 680,222 561,578
Capital and reserves
Called-up share capital 7 400 400
Capital redemption reserve 100 100
Profit and loss account 679,722 561,078
Total shareholder's funds 680,222 561,578

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Single Ply Structures Limited (registered number: 07562752) were approved and authorised for issue by the Board of Directors on 01 August 2025. They were signed on its behalf by:

Mr N P Flavin
Director
SINGLE PLY STRUCTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
SINGLE PLY STRUCTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
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

Single Ply Structures 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 Unit 17, The Old Stables Newcourt Barton, Clyst Road, Exeter, EX3 0DB, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of consideration received or receivable.

Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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.

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 average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. 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 reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance
Office equipment 33 % reducing balance
Leases

The Company as lessee
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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 8 8

3. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 April 2024 24,654 385,108 22,465 432,227
Additions 31,254 66,434 870 98,558
Disposals 0 ( 238,608) 0 ( 238,608)
At 31 March 2025 55,908 212,934 23,335 292,177
Accumulated depreciation
At 01 April 2024 10,713 43,849 16,682 71,244
Charge for the financial year 2,957 37,097 1,869 41,923
Disposals 0 ( 29,742) 0 ( 29,742)
At 31 March 2025 13,670 51,204 18,551 83,425
Net book value
At 31 March 2025 42,238 161,730 4,784 208,752
At 31 March 2024 13,941 341,259 5,783 360,983

4. Debtors

2025 2024
£ £
Trade debtors 540,305 565,454
Amounts owed by Ultimate Parent undertakings 14,627 0
Amounts owed by directors 8,865 0
Prepayments 70,556 34,137
VAT recoverable 47,538 83,765
Corporation tax 23,700 0
Other debtors 175,994 278,447
881,585 961,803

5. Creditors: amounts falling due within one year

2025 2024
£ £
Bank loans 112,500 112,500
Trade creditors 358,034 394,313
Amounts owed to Group undertakings 0 32,699
Amounts owed to directors 682 25,696
Accruals 14,464 3,116
CIS withheld 10,801 9,285
Taxation and social security 18,096 169,561
Obligations under finance leases and hire purchase contracts 28,971 61,849
Other creditors 0 9,059
543,548 818,078

The hire purchase obligations are secured against the assets which they relate to.

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

2025 2024
£ £
Bank loans 25,433 137,933
Obligations under finance leases and hire purchase contracts 49,553 168,040
74,986 305,973

The hire purchase obligations are secured against the assets which they relate to.

7. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
400 Ordinary shares of £ 1.00 each 400 400

During the prior year, the entire share capital was acquired in a share for share transaction with Single Ply Structures Holdings Limited (Company number: 14966911).

8. Financial commitments

Commitments

2025 2024
£ £
Total future minimum lease payments under non-cancellable operating lease 61,659 0

9. Related party transactions

Transactions with owners holding a participating interest in the entity

2025 2024
£ £
Balance due (to)/from Single Ply Structures Holdings Limited 14,627 (32,699)

During the current year, a loan existed between Single Ply Structures Limited and Single Ply Structure Holdings Limited, the entity's wholly owned parent company. No interest was charged on the loan and the balance is repayable on demand. At the balance sheet date the amount due (to)/from Single Ply Structures Holdings Limited was £14,627 (2024: £(32,699)).

Transactions with the entity's directors

2025 2024
£ £
Balance B/fwd (25,696) (71,128)
Interest free advances to directors 233,919 249,110
Repayments by directors (200,040) (203,678)
Balance C/fwd 8,183 (25,696)