Fife Windows & Doors Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC255595 (Scotland)

Unaudited Financial Statements

for the Period 1 November 2021 to 30 April 2022

for

Fife Windows & Doors Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

6

DIRECTORS:

B McLean

P Ness

M Ness

G McLean

REGISTERED OFFICE:

Eastfield Business Park

Newark Road South

Glenrothes

FIFE

KY7 4NS

REGISTERED NUMBER:

SC255595 (Scotland)

ACCOUNTANTS:

Wallace White Accountants

2nd Floor

22-24 Blythswood Square

Glasgow

G2 4BG

FIXED ASSETS

Tangible assets

4

60,437

80,069

CURRENT ASSETS

Stocks

100,000

334,158

Debtors

5

92,232

76,402

Cash at bank and in hand

750,201

436,124

942,433

846,684

CREDITORS

Amounts falling due within one year

6

503,983

534,540

NET CURRENT ASSETS

438,450

312,144

TOTAL ASSETS LESS CURRENT
LIABILITIES

498,887

392,213

CAPITAL AND RESERVES

Called up share capital

107

Retained earnings

498,780

392,106

SHAREHOLDERS' FUNDS

498,887

392,213

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2022 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 1 August 2022 and were signed on its behalf by:

M Ness - Director

G McLean - Director

1.	STATUTORY INFORMATION

Fife Windows & Doors Limited is a private company, limited by shares , registered in Scotland. 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.

Plant and machinery etc

-

25% on reducing balance, 15% on reducing balance and 10% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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 period was 24 (2021 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2021

and 30 April 2022

381,209

DEPRECIATION

At 1 November 2021

301,140

Charge for period

19,632

At 30 April 2022

320,772

NET BOOK VALUE

At 30 April 2022

60,437

At 31 October 2021

80,069

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.22

31.10.21

£

Trade debtors

92,232

76,402

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.22

31.10.21

£

Trade creditors

588

166,526

Taxation and social security

166,746

110,706

Other creditors

336,649

257,308

503,983

534,540

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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the period ended 30 April 2022 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.