Homestyle U.K. Windows Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03873817 (England and Wales)

Financial Statements for the Year Ended 31 March 2021

for

Homestyle U.K. Windows Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr GA Shemmings

Mrs KA Argent

Mr DJ Shemmings

Mr CL Shemmings

REGISTERED OFFICE:

10 Ladbrook Close

Elmsett

Ipswich

Suffolk

IP7 6LD

REGISTERED NUMBER:

03873817 (England and Wales)

ACCOUNTANTS:

Emsdens Limited

10 Ladbrook Close

Elmsett

Ipswich

Suffolk

IP7 6LD

FIXED ASSETS

Tangible assets

4

28,737

40,236

CURRENT ASSETS

Stocks

25,903

5,111

Debtors

5

63,998

50,291

Cash at bank

103,718

17,855

193,619

73,257

CREDITORS

Amounts falling due within one year

6

181,040

113,046

NET CURRENT ASSETS/(LIABILITIES)

12,579

(39,789

)

TOTAL ASSETS LESS CURRENT LIABILITIES

41,316

447

CREDITORS

Amounts falling due after more than one year

7

(5,833

)

(12,833

)

PROVISIONS FOR LIABILITIES

(5,460

)

(949

)

NET ASSETS/(LIABILITIES)

30,023

(13,335

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

29,023

(14,335

)

SHAREHOLDERS' FUNDS

30,023

(13,335

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 July 2021 and were signed on its behalf by:

Mr GA Shemmings - Director

1.	STATUTORY INFORMATION

Homestyle U.K. Windows 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.

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.

Plant and machinery etc

-

25% on reducing balance and at variable rates on reducing balance

Computer equipment - 25% 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 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 10 (2020 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

87,159

Additions

519

Disposals

(13,399

)

At 31 March 2021

74,279

DEPRECIATION

At 1 April 2020

46,923

Charge for year

10,406

Eliminated on disposal

(11,787

)

At 31 March 2021

45,542

NET BOOK VALUE

At 31 March 2021

28,737

At 31 March 2020

40,236

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

Plant and

machinery

etc

£

COST

At 1 April 2020

and 31 March 2021

21,495

DEPRECIATION

At 1 April 2020

1,343

Charge for year

5,038

At 31 March 2021

6,381

NET BOOK VALUE

At 31 March 2021

15,114

At 31 March 2020

20,152

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

34,099

25,611

Other debtors

29,899

24,680

63,998

50,291

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Hire purchase contracts

7,000

7,000

Payments on account

49,853

22,550

Trade creditors

74,189

48,497

Taxation and social security

41,685

27,575

Other creditors

8,313

7,424

181,040

113,046

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Hire purchase contracts

5,833

12,833

8.	RELATED PARTY DISCLOSURES

The company sold goods and services amounting to £103,895 (2020: £95,642) and purchased goods and services amounting to £160,908 (2020: £243,450) to/from Trade Supply Windows (Ipswich) Limited, a company in which the directors have an interest.

The company sold goods and services amounting to £10,577 (2020: £5,843) and purchased goods and services amounting to £460 (2020: £387) to/from Micron Windows (Newmarket) Limited, a company in which the directors have an interest.

All transactions were calculated at market value and were on normal commercial terms.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr GA Shemmings.

The ultimate controlling party is Mr GA Shemmings.