REGISTERED NUMBER: 04298012 (England and Wales)

DURASEAL LIMITED

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

G T Hughes

SECRETARY:

D J Francis-Hughes

REGISTERED OFFICE:

Gelli Uchaf Farm

Greys Place, Merthyr Road

Llwydcoed

Aberdare

Rhondda Cynon Taff

CF44 0BJ

REGISTERED NUMBER:

04298012 (England and Wales)

ACCOUNTANTS:

MHA (trading name of MHA Advisory Ltd)

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

103,071

122,700

103,071

122,700

CURRENT ASSETS

Stocks

20,000

20,000

Debtors

6

216,652

281,884

Cash at bank

117,681

20,362

354,333

322,246

CREDITORS

Amounts falling due within one year

7

(271,825

)

(312,609

)

NET CURRENT ASSETS

82,508

9,637

TOTAL ASSETS LESS CURRENT LIABILITIES

185,579

132,337

CREDITORS

Amounts falling due after more than one year

8

(32,741

)

(75,974

)

PROVISIONS FOR LIABILITIES

(25,017

)

(29,876

)

NET ASSETS

127,821

26,487

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

126,821

25,487

SHAREHOLDERS' FUNDS

127,821

26,487

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 December 2025 and were signed by:

G T Hughes - Director

1.	STATUTORY INFORMATION

Duraseal Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's functional and presentational currency in the financial statements is Sterling (£), rounded to the nearest pound.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

There have been no material departures from Financial Reporting Standard 102 1A.

Turnover

Turnover represents amounts billed and billable in respect of roofing work undertaken during the year exclusive of Value Added Tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant, machinery and equipment

-

25% on reducing balance

Fixtures and Fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks have been estimated by the director.

Current tax

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but 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 the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Non-derivative financial instruments

Basic financial instruments are recognised at amortised cost.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

315,000

AMORTISATION

At 1 January 2024

and 31 December 2024

315,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant,

machinery

Fixtures

and

and

Motor

equipment

Fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

42,816

31,910

178,031

252,757

Additions

-

-

11,500

11,500

At 31 December 2024

42,816

31,910

189,531

264,257

DEPRECIATION

At 1 January 2024

42,038

29,103

58,916

130,057

Charge for year

316

794

30,019

31,129

At 31 December 2024

42,354

29,897

88,935

161,186

NET BOOK VALUE

At 31 December 2024

462

2,013

100,596

103,071

At 31 December 2023

778

2,807

119,115

122,700

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

192,834

230,404

Social security and other tax

22,206

15,923

Amount due from company under common control

-

31,586

VAT

467

2,948

Prepayments and accrued income

1,145

1,023

216,652

281,884

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

26,888

40,951

Amount due to company under

common control

112,033

125,623

Hire purchase contracts

14,031

12,613

Trade creditors

40,792

89,176

Corporation tax

56,078

8,061

Other creditors

-

19,862

Director's current account

611

12

Accruals and deferred income

21,392

16,311

271,825

312,609

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

3,333

29,202

Bank loans due within 2 - 5

years

-

3,333

Hire purchase contracts

29,408

43,439

32,741

75,974

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

43,439

56,052

Bank loans

18,888

54,153

62,327

110,205

The hire purchase contracts are secured via a fixed charge over the assets in which they relate to.

The bank loan is secured via a personal guarantee over the director's assets.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1000

Ordinary

£1

1,000

1,000

1,000

1,000

11.	OTHER FINANCIAL COMMITMENTS

At the year end the company had commitment under operating leases amounting to £0 (2023: £2,981).

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Duraseal Limited for the year ended 31 December 2024 which comprise the Profit and loss account, Balance Sheet, Statement of Changes in Equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Duraseal Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Duraseal Limited and state those matters that we have agreed to state to the director of Duraseal Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Duraseal Limited and its director for our work or for this report.

It is your duty to ensure that Duraseal 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 Duraseal Limited. You consider that Duraseal 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 Duraseal 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.

We draw your attention to note 2 in the financial statements which may indicate a departure from applicable accounting standards. The director has estimated the value of stock at the company's year end. Accordingly, it may not be valued at the lower of cost and net selling price less costs to sell, in which case there would be a departure from the Financial Reporting Standard 102 Section 1A.

MHA (trading name of MHA Advisory Ltd)

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

24 December 2025