Dormant 120 Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02555382 (England and Wales)

DORMANT 120 LIMITED

PREVIOUSLY KNOWN AS

TRENT VALLEY WINDOW AND DOOR COMPANY

LIMITED

FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2018 TO 31 AUGUST 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M K White

Mr D Richardson

SECRETARY:

Mrs N White

REGISTERED OFFICE:

Lotus House

Campbell Way

Dinnington

Sheffield

South Yorkshire

S25 3QD

REGISTERED NUMBER:

02555382 (England and Wales)

AUDITORS:

APC Accountants Limited

Chartered Accountants

and Statutory Auditors

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

BANKERS:

The Royal Bank of Scotland

38 Mosley Street

Manchester

M2 3AZ

CURRENT ASSETS

Debtors

5

-

172,830

Cash at bank

-

27,970

-

200,800

CREDITORS

Amounts falling due within one year

6

-

61,248

NET CURRENT ASSETS

-

139,552

TOTAL ASSETS LESS CURRENT LIABILITIES

-

139,552

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

(10,000

)

129,552

SHAREHOLDERS' FUNDS

-

139,552

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 23 September 2019 and were signed on its behalf by:

Mr M K White - Director

1.	STATUTORY INFORMATION

Dormant 120 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 presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis which assumes the company will have

sufficient funds to continue to pay its debts as and when they fall due and thus continue to trade. After making

appropriate enquiries, including confirmation from the parent company of the availability of continued funding,

and after reviewing financial forecasts and budgets, the directors have a reasonable expectation that the

Company has adequate resources to continue in operational existence for the foreseeable future. In making their

assessment, the directors have considered a period of at least 12 months from the date of signing these

financial statements.

During the previous year the company split its main trading activities into 2 separate entities, Trent Valley

Architectural Glazing Limited and Trent Valley Home Improvements Limited, as a result the main trading

activities of the company have ceased. However the company still has contractual obligations and as a result,

the directors believe the financial statements are to be prepared on a going concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and

the turnover can be reliably measured. Turnover is measured at the fair value of the consideration received or

receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also

be met before turnover is recognised

Sales of goods

Turnover from the sale of goods is recognised when all of the following considerations are satisfied;

- the Company has transferred the significant risks and rewards of ownership to the buyer;

- the Company retains neither continuing managerial involvement to the degree usually associated with

ownership nor effective control over the goods sold;

- the amount of turnover can be measured reliably

- it is probable that the company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transactions can be reliably measured

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in

accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably

Financial instruments

Financial instruments 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar

debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented

as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the

profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the

outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability

then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are

debited direct to equity.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except

to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by 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 period 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.

Financial instruments

Financial instruments 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar

debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented

as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the

profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the

outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability

then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are

debited direct to equity.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2018 - 3 ).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

-

172,830

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other creditors

-

47,673

Accruals and deferred income

-

13,575

-

61,248

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Steven Pincott (Senior Statutory Auditor)

for and on behalf of APC Accountants Limited

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

The company paid wages and salaries (including pension contributions) to key management persons to the sum

of £Nil (2018: £13,683).

9.	ULTIMATE CONTROLLING PARTY

The company is a 100% subsidiary of Glass Umbrella Limited, a company registered in England and Wales at

the same registered office as the company. The ultimate controlling party is Mr M White who owns 100% of the

ordinary voting share capital of Glass Umbrella Limited.