Company Registration No. 03347489 (England and Wales)
1st Glass Windows Limited
Unaudited accounts
for the year ended 30 April 2023
1st Glass Windows Limited
Unaudited accounts
Contents
1st Glass Windows Limited
Company Information
for the year ended 30 April 2023
Director
Sean Murray Dalton
Company Number
03347489 (England and Wales)
Registered Office
248 Godstone Road
Whyteleafe
Surrey
CR3 0EF
England
1st Glass Windows Limited
Statement of financial position
as at 30 April 2023
Tangible assets
135,503
140,556
Inventories
210,998
90,998
Cash at bank and in hand
136,416
183,818
Creditors: amounts falling due within one year
(225,903)
(313,695)
Net current assets
121,511
120,584
Total assets less current liabilities
257,014
261,140
Creditors: amounts falling due after more than one year
(108,206)
(61,406)
Provisions for liabilities
Deferred tax
(17,660)
(17,660)
Net assets
131,148
182,074
Called up share capital
200
200
Profit and loss account
130,948
181,874
Shareholders' funds
131,148
182,074
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 January 2024 and were signed on its behalf by
Sean Murray Dalton
Director
Company Registration No. 03347489
1st Glass Windows Limited
Notes to the Accounts
for the year ended 30 April 2023
1st Glass Windows Limited is a private company, limited by shares, registered in England and Wales, registration number 03347489. The registered office is 248 Godstone Road, Whyteleafe, Surrey, CR3 0EF, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% Straight Line
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Computer equipment
25% Reducing Balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
1st Glass Windows Limited
Notes to the Accounts
for the year ended 30 April 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 May 2022
18,545
7,264
246,730
1,519
19,291
293,349
Additions
-
-
31,575
-
-
31,575
At 30 April 2023
18,545
7,264
278,305
1,519
19,291
324,924
At 1 May 2022
17,086
7,242
108,681
1,496
18,288
152,793
Charge for the year
1,854
6
34,512
5
251
36,628
At 30 April 2023
18,940
7,248
143,193
1,501
18,539
189,421
At 30 April 2023
(395)
16
135,112
18
752
135,503
At 30 April 2022
1,459
22
138,049
23
1,003
140,556
Amounts falling due within one year
1st Glass Windows Limited
Notes to the Accounts
for the year ended 30 April 2023
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
(23,019)
72,016
Obligations under finance leases and hire purchase contracts
24,099
24,099
Trade creditors
192,169
114,083
Taxes and social security
16,087
57,119
Loans from directors
(27,327)
2,750
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
61,406
61,406
Allotted, called up and fully paid:
200 Ordinary shares of £1 each
200
200
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loans and advances
-
27,327
-
27,327
Mr Sean Murray Dalton shall repay this loans and advances within nine months from the balance sheet date.
10
Transactions with related parties
Mr. Sean Murray Dalton is a shareholder and the director during this accounting period and holding 60% of the shares in the company.
Mrs. Jill Dalton also a shareholder during this accounting period and holding 40% of the shares in the company.
11
Average number of employees
During the year the average number of employees was 1 (2022: 1).