High Performance Windows Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06810185 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2021

for

High Performance Windows Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

D Middleton

Mrs S Middleton

REGISTERED OFFICE:

5 Longwood Lane

Walsall

West Midlands

WS5 3AT

REGISTERED NUMBER:

06810185 (England and Wales)

ACCOUNTANTS:

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

FIXED ASSETS

Tangible assets

5

40,809

47,828

CURRENT ASSETS

Stocks

17,000

17,750

Debtors

6

31,953

82,240

Cash at bank

16,348

18,254

65,301

118,244

CREDITORS

Amounts falling due within one year

7

(90,116

)

(120,668

)

NET CURRENT LIABILITIES

(24,815

)

(2,424

)

TOTAL ASSETS LESS CURRENT LIABILITIES

15,994

45,404

CREDITORS

Amounts falling due after more than one year

8

(39,167

)

(44,167

)

NET (LIABILITIES)/ASSETS

(23,173

)

1,237

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

(23,175

)

1,235

SHAREHOLDERS' FUNDS

(23,173

)

1,237

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2022 and were signed on its behalf by:

Mrs S Middleton - Director

1.	STATUTORY INFORMATION

High Performance Windows Ltd 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 under the historical cost convention.

There are no material departures from the standard.

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.

Improvements to property

-

10% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 Profit and loss account, 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.

Going concern

The company is dependant on the directors' ongoing financial support and on a loan provided to the company by its bankers which is repayable over a five year period. The directors believe the going concern basis for the preparation of the accounts is appropriate by reference to their ongoing support and the term of the bank loan facility.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 3 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2021

9,500

84,516

10,226

Additions

-

1,026

-

At 31 December 2021

9,500

85,542

10,226

DEPRECIATION

At 1 January 2021

5,225

46,263

8,795

Charge for year

950

5,841

286

At 31 December 2021

6,175

52,104

9,081

NET BOOK VALUE

At 31 December 2021

3,325

33,438

1,145

At 31 December 2020

4,275

38,253

1,431

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2021

9,791

11,435

125,468

Additions

-

-

1,026

At 31 December 2021

9,791

11,435

126,494

DEPRECIATION

At 1 January 2021

7,801

9,556

77,640

Charge for year

498

470

8,045

At 31 December 2021

8,299

10,026

85,685

NET BOOK VALUE

At 31 December 2021

1,492

1,409

40,809

At 31 December 2020

1,990

1,879

47,828

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

31,819

82,104

Other debtors

134

136

31,953

82,240

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

10,000

5,833

Trade creditors

22,474

29,486

Amounts owed to group undertakings

-

45,744

Taxation and social security

38,132

22,056

Other creditors

19,510

17,549

90,116

120,668

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

39,167

44,167

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

2

Ordinary

£1

2

2

10.

RESERVES

Retained

earnings

£

At 1 January 2021

1,235

Deficit for the year

(24,410

)

At 31 December 2021

(23,175

)

11.	RELATED PARTY DISCLOSURES

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 High Performance Windows Ltd for the year ended 31 December 2021 which comprise the Profit and loss account, Balance Sheet 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 Board of Directors of High Performance Windows 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 High Performance Windows Ltd and state those matters that we have agreed to state to the Board of Directors of High Performance Windows Ltd, as a body, 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 High Performance Windows Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that High Performance Windows 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 loss of High Performance Windows Ltd. You consider that High Performance Windows 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 High Performance Windows 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.

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

5 September 2022