13 false false false false false false false false false false true false false false false false false No description of principal activity 2024-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 2 2 2 xbrli:pure xbrli:shares iso4217:GBP SC246469 2024-04-01 2025-03-31 SC246469 2025-03-31 SC246469 2024-03-31 SC246469 2023-04-01 2024-03-31 SC246469 2024-03-31 SC246469 2023-03-31 SC246469 core:NetGoodwill 2024-04-01 2025-03-31 SC246469 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 SC246469 core:PlantMachinery 2024-04-01 2025-03-31 SC246469 core:FurnitureFittings 2024-04-01 2025-03-31 SC246469 core:MotorVehicles 2024-04-01 2025-03-31 SC246469 bus:LeadAgentIfApplicable 2024-04-01 2025-03-31 SC246469 core:WithinOneYear 2025-03-31 SC246469 core:WithinOneYear 2024-03-31 SC246469 core:NetGoodwill 2024-03-31 SC246469 core:NetGoodwill 2025-03-31 SC246469 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 SC246469 core:PlantMachinery 2024-03-31 SC246469 core:FurnitureFittings 2024-03-31 SC246469 core:MotorVehicles 2024-03-31 SC246469 core:LandBuildings core:OwnedOrFreeholdAssets 2025-03-31 SC246469 core:PlantMachinery 2025-03-31 SC246469 core:FurnitureFittings 2025-03-31 SC246469 core:MotorVehicles 2025-03-31 SC246469 core:AfterOneYear 2025-03-31 SC246469 core:AfterOneYear 2024-03-31 SC246469 core:ShareCapital 2025-03-31 SC246469 core:ShareCapital 2024-03-31 SC246469 core:RetainedEarningsAccumulatedLosses 2025-03-31 SC246469 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC246469 core:CostValuation core:Non-currentFinancialInstruments 2025-03-31 SC246469 core:Non-currentFinancialInstruments 2025-03-31 SC246469 core:Non-currentFinancialInstruments 2024-03-31 SC246469 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 SC246469 core:PlantMachinery 2024-03-31 SC246469 core:FurnitureFittings 2024-03-31 SC246469 core:MotorVehicles 2024-03-31 SC246469 bus:Director1 2024-04-01 2025-03-31 SC246469 bus:SmallEntities 2024-04-01 2025-03-31 SC246469 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 SC246469 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 SC246469 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 SC246469 bus:FullAccounts 2024-04-01 2025-03-31 SC246469 core:ComputerSoftware 2024-04-01 2025-03-31 SC246469 core:ComputerSoftware 2024-03-31 SC246469 core:ComputerSoftware 2025-03-31 SC246469 1 2024-04-01 2025-03-31
COMPANY REGISTRATION NUMBER: SC246469
Quality Trade Windows Limited
Filleted Unaudited Financial Statements
31 March 2025
Quality Trade Windows Limited
Financial Statements
Year ended 31 March 2025
Contents
Page
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
Quality Trade Windows Limited
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Quality Trade Windows Limited
Year ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Quality Trade Windows Limited for the year ended 31 March 2025, which comprise the 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Quality Trade Windows Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Quality Trade Windows Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quality Trade Windows Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Quality Trade Windows Limited 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 Quality Trade Windows Limited. You consider that Quality Trade Windows Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Quality Trade Windows Limited. 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.
GILLILAND & COMPANY Chartered Accountants
216 West George Street Glasgow G2 2PQ
28 July 2025
Quality Trade Windows Limited
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
£
Fixed assets
Intangible assets
5
5,072
3,688
Tangible assets
6
161,996
143,254
Investments
7
2
2
---------
---------
167,070
146,944
Current assets
Stocks
76,600
105,600
Debtors
8
60,909
87,886
Cash at bank and in hand
193,443
209,428
---------
---------
330,952
402,914
Creditors: amounts falling due within one year
9
239,649
274,965
---------
---------
Net current assets
91,303
127,949
---------
---------
Total assets less current liabilities
258,373
274,893
Creditors: amounts falling due after more than one year
10
1,667
11,667
Provisions
Taxation including deferred tax
37,740
33,406
---------
---------
Net assets
218,966
229,820
---------
---------
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss account
208,966
219,820
---------
---------
Shareholders funds
218,966
229,820
---------
---------
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Quality Trade Windows Limited
Statement of Financial Position (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 28 July 2025 , and are signed on behalf of the board by:
Alexander Philip
Company registration number: SC246469
Quality Trade Windows Limited
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 216 West George Street, Glasgow, G2 2PQ, Scotland.
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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
Software
-
25% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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.
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:
Leasehold improvements
-
10% straight line
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
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 entity 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.
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.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2024: 15 ).
5. Intangible assets
Goodwill
Software
Total
£
£
£
Cost
At 1 April 2024
300,000
6,445
306,445
Additions
2,995
2,995
---------
-------
---------
At 31 March 2025
300,000
9,440
309,440
---------
-------
---------
Amortisation
At 1 April 2024
300,000
2,757
302,757
Charge for the year
1,611
1,611
---------
-------
---------
At 31 March 2025
300,000
4,368
304,368
---------
-------
---------
Carrying amount
At 31 March 2025
5,072
5,072
---------
-------
---------
At 31 March 2024
3,688
3,688
---------
-------
---------
6. Tangible assets
Property improvements
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2024
43,083
303,161
19,236
85,893
451,373
Additions
24,704
3,180
32,477
60,361
--------
---------
--------
---------
---------
At 31 March 2025
43,083
327,865
22,416
118,370
511,734
--------
---------
--------
---------
---------
Depreciation
At 1 April 2024
5,358
227,574
13,338
61,849
308,119
Charge for the year
4,308
23,014
1,682
12,615
41,619
--------
---------
--------
---------
---------
At 31 March 2025
9,666
250,588
15,020
74,464
349,738
--------
---------
--------
---------
---------
Carrying amount
At 31 March 2025
33,417
77,277
7,396
43,906
161,996
--------
---------
--------
---------
---------
At 31 March 2024
37,725
75,587
5,898
24,044
143,254
--------
---------
--------
---------
---------
7. Investments
Shares in group undertakings
£
Cost
At 1 April 2024 and 31 March 2025
2
----
Impairment
At 1 April 2024 and 31 March 2025
----
Carrying amount
At 31 March 2025
2
----
At 31 March 2024
2
----
Details of the company's subsidiaries at 31 March 2025 are as follows:
Name of undertaking - Bi-Fold Doors (Scotland) Limited
Registered Office - 216 West George Street, Glasgow, Scotland G2 2PQ
Class of shares held - Ordinary
% held Direct - 100%
Name of undertaking - Sash Windows Scotland Limited
Registered Office - 216 West George Street, Glasgow, Scotland G2 2PQ
Class of shares held - Ordinary
% held Direct - 100%
8. Debtors
2025
2024
£
£
Trade debtors
54,964
82,300
Prepayments and accrued income
5,745
3,956
Other debtors
200
1,630
--------
--------
60,909
87,886
--------
--------
9. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
90,213
115,791
Amounts owed to group undertakings
799
799
Accruals and deferred income
80,672
65,503
Corporation tax
18,145
42,724
Social security and other taxes
37,377
36,348
Director loan accounts
27
Other creditors
2,416
3,800
---------
---------
239,649
274,965
---------
---------
10. Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
1,667
11,667
-------
--------
11. Controlling party
The ultimate controlling party is L & E Philip Holdings Limited.