The Windscreen Company Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

The Windscreen Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03545701 . The registered office is 5 Tudor Works, Turret Lane, Ipswich, Suffolk, IP4 1DL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The financial statements are prepared on a going concern basis, despite the balance sheet showing net current liabilities. The director notes that the company is trading adequately and has sufficient working capital and other finanace available to continue trading for a period of not less that 12 months from the Statement of financial positopn date. As such, the director believes that there are no significant uncertainties in their assessment of whether the business is a going concern and have therefore prepared the accounts on a basis of going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% on cost
Motor Vehicles	20% on cost
Fixtures & Fittings	20% on cost
Computer Equipment	20% on cost

2.5. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods.

The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. The capital element of future payments is treated as a liability.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

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The Windscreen Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss, except to the extent it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Deferred tax is recognised in respect of all timing differences that have originated but have not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against reversal of deferred tax liabilities or other future taxable profits.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.9. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 26 (2023: 25)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 January 2024	111,306	572,281	3,886	16,611	704,084
Additions	1,781	109,201	-	-	110,982
Disposals	(46,915 )	(116,371 )	(3,886 )	(12,511 )	(179,683 )

As at 31 December 2024	66,172	565,111	-	4,100	635,383

Depreciation
As at 1 January 2024	96,686	309,222	3,886	14,631	424,425
Provided during the period	7,388	106,704	-	821	114,913
Disposals	(46,915 )	(110,096 )	(3,886 )	(12,511 )	(173,408 )

As at 31 December 2024	57,159	305,830	-	2,941	365,930

Net Book Value
As at 31 December 2024	9,013	259,281	-	1,159	269,453

As at 1 January 2024	14,620	263,059	-	1,980	279,659

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2024	2023
	£	£
Motor Vehicles	217,471	226,105

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The Windscreen Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Stocks

	2024	2023
	£	£
Stock	107,865	126,455

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	591,962	507,190
Prepayments and accrued income	34,576	31,978
Other debtors	28,126	10,530
Corporation tax recoverable assets	4,163	4,163
Director's loan account	2,151	-

	660,978	553,861

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	74,019	68,498
Trade creditors	251,693	358,000
Bank loans and overdrafts	10,260	9,890
Corporation tax	79,061	17,370
Other taxes and social security	33,729	28,899
VAT	95,150	74,910
Other creditors	-	40,000
Factoring	345,491	298,737
Accruals and deferred income	6,016	7,196
Director's loan account	-	8,699
Credit card	12,454	13,005

	907,873	925,204

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	74,348	72,104
Bank loans	4,552	15,061

	78,900	87,165

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The Windscreen Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Secured Creditors

Of the creditors falling due within and after more than one year the following amounts are secured.

Hire purchase assets are secured on the asset to which they relate.

HSBC bank hold a debenture and fixed and floating charges over all assets in relation to the overdraft and invoice finanancing.

The HSBC Bounce Bank Loan is covered by the Government backed scheme attached to the loan.

Other creditors is made up solely of Factoring

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	148,367	140,603
Bank loans and overdrafts	14,812	24,951
Other Creditors	345,491	298,737

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	134	134

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	35,380	33,192
Later than one year and not later than five years	95,708	131,088

	131,088	164,280

12. Directors Advances, Credits and Guarantees

Included within debtors (2023-creditors) are the following loans from directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Barry Hegley	(8,699 )	13,600	2,750	-	2,151

The above loan is unsecured, interest free and repayable on demand.

13. Related Party Transactions

The company was under the daily management of Mr Hegley throughout the current and previous year. In October 2024, the company ceased to be a subsidiary of Winborn Holdings Limited as a result of group reorganisation. The new immediate and ultimate parent company is TWC Holdco Limited, a company registered in England and Wales. The company was consolidated within the group accounts of Winborn Holdings Limited up to the date of reorganisation. The parent company's registered office address is C/O Master Auto Glass, 4 Cumberland Avenue, Park Royal, London, NW10 7QL.

Amounts owed to the Director by the company are shown in the debtors (2023- creditors) note above.

At the year end the company owed £NIL (2023-£40,000) to its parent company.

During the year, dividends totalling £22,500 (2023-£13,600) were declared to a director.

During the year, dividends totalling £NIL (2023-£40,000) were declared to its parent company.

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The Windscreen Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

14. Audit Information

The auditor's report on the accounts of The Windscreen Company Limited for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by Simon Carr (Senior Statutory Auditor) for and on behalf of Barnes Roffe Audit Limited , Statutory Auditor.

Barnes Roffe Audit Limited

3 Brook Business Centre

Cowley Mill Road

Uxbridge

Middlesex

UX8 2FX

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		269,453		279,659

			269,453		279,659
CURRENT ASSETS
Stocks	5	107,865		126,455
Debtors	6	660,978		553,861
Cash at bank and in hand		218,683		122,708

		987,526		803,024
Creditors: Amounts Falling Due Within One Year	7	(907,873 )		(925,204 )

NET CURRENT ASSETS (LIABILITIES)			79,653		(122,180 )

TOTAL ASSETS LESS CURRENT LIABILITIES			349,106		157,479

Creditors: Amounts Falling Due After More Than One Year	8		(78,900 )		(87,165 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(66,818 )		(69,334 )

NET ASSETS			203,388		980

CAPITAL AND RESERVES
Called up share capital	10		134		134
Profit and Loss Account			203,254		846

SHAREHOLDERS' FUNDS			203,388		980