Windows Etc Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05862132

Unaudited Financial Statements for the Year Ended 31 July 2020

for

Windows Etc Ltd

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

J Solomons

S J Solomons

SECRETARY:

S J Solomons

REGISTERED OFFICE:

Electra House

1A Gilberd Road

Colchester

Essex

CO2 7LR

REGISTERED NUMBER:

05862132

ACCOUNTANTS:

JTF

Chartered Certified Accountants

Electra House

1A Gilberd Road

Colchester

Essex

CO2 7LR

The following reproduces the text of the report prepared for the directors 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 Directors 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 Windows Etc Ltd for the year ended 31 July 2020 which comprise the Income Statement, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Windows Etc Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Windows Etc Ltd and state those matters that we have agreed to state to the Board of Directors of Windows Etc Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Windows Etc Ltd 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 Windows Etc Ltd. You consider that Windows Etc Ltd 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 Windows Etc Ltd. 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.

JTF

Chartered Certified Accountants

Electra House

1A Gilberd Road

Colchester

Essex

CO2 7LR

8 December 2020

FIXED ASSETS

Tangible assets

4

336,679

352,584

CURRENT ASSETS

Stocks

115,644

59,531

Debtors

5

287,980

306,260

Cash at bank and in hand

735,298

688,744

1,138,922

1,054,535

CREDITORS

Amounts falling due within one year

6

654,516

668,022

NET CURRENT ASSETS

484,406

386,513

TOTAL ASSETS LESS CURRENT LIABILITIES

821,085

739,097

CREDITORS

Amounts falling due after more than one year

7

(90,837

)

(49,853

)

PROVISIONS FOR LIABILITIES

(14,455

)

(25,663

)

NET ASSETS

715,793

663,581

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

715,791

663,579

SHAREHOLDERS' FUNDS

715,793

663,581

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 December 2020 and were signed on its behalf by:

J Solomons - Director

1.	STATUTORY INFORMATION

Windows Etc Ltd is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

Evenly over the term of the lease

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year 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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2019 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2019

549,497

Additions

80,041

At 31 July 2020

629,538

DEPRECIATION

At 1 August 2019

195,923

Charge for year

96,936

At 31 July 2020

292,859

NET BOOK VALUE

At 31 July 2020

336,679

At 31 July 2019

353,574

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 August 2019

and 31 July 2020

97,400

DEPRECIATION

At 1 August 2019

4,058

Charge for year

24,350

At 31 July 2020

28,408

NET BOOK VALUE

At 31 July 2020

68,992

At 31 July 2019

93,342

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.20

31.7.19

£

£

Trade debtors

257,254

267,628

Other debtors

30,726

38,632

287,980

306,260

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.20

31.7.19

£

£

Bank loans and overdrafts

833

-

Hire purchase contracts (see note 8)

8,183

8,183

Trade creditors

414,012

483,199

Taxation and social security

211,644

154,132

Other creditors

19,844

22,508

654,516

668,022

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.20

31.7.19

£

£

Bank loans

49,167

-

Hire purchase contracts (see note 8)

41,670

49,853

90,837

49,853

31.7.20

31.7.19

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

9,167

-

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.7.20

31.7.19

£

£

Net obligations repayable:

Within one year

8,183

8,183

Between one and five years

41,670

49,853

49,853

58,036

Non-cancellable

operating leases

31.7.20

31.7.19

£

£

Within one year

53,500

53,500

Between one and five years

171,000

17,000

In more than five years

245,542

-

470,042

70,500

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.20

31.7.19

£

£

Hire purchase contracts

49,853

58,036

Liabilities under hire purchase contracts were secured on the assets to which they related.