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Unaudited Financial Statements for the Year Ended 31 August 2019 |
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Home Glazing Improvements Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 August 2019 |
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for |
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Home Glazing Improvements Limited |
Home Glazing Improvements Limited (Registered number: 04308929) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Directors' Responsibilities Statement | 8 |
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Independent Chartered Certified Accountants' Review Report | 9 |
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Home Glazing Improvements Limited |
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Company Information |
for the Year Ended 31 August 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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29 The Green |
Winchmore Hill |
London |
N21 1HS |
Home Glazing Improvements Limited (Registered number: 04308929) |
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Balance Sheet |
31 August 2019 |
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31.8.19 | 31.8.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 9 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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
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(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. |
Home Glazing Improvements Limited (Registered number: 04308929) |
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Balance Sheet - continued |
31 August 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
behalf by: |
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Home Glazing Improvements Limited (Registered number: 04308929) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2019 |
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1. | STATUTORY INFORMATION |
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Home Glazing Improvements Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value |
added tax and other sales taxes. |
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Goodwill |
The company has historically depreciated its purchased goodwill over a 20 year period, with 5 years remaining. In the |
opinion of the directors, the remaining useful life of the goodwill is correct and will continue to be amortised until 31st |
August 2022. |
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The directors are of the opinion that no useful purpose would be served by reducing the amortisation period as required by |
the Financial Reporting Standard 102, section 1A. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any |
accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving |
items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
date. |
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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. |
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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. |
Home Glazing Improvements Limited (Registered number: 04308929) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2019 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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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. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 September 2018 |
and 31 August 2019 |
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AMORTISATION |
At 1 September 2018 |
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Charge for year |
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At 31 August 2019 |
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NET BOOK VALUE |
At 31 August 2019 |
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At 31 August 2018 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 September 2018 |
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Additions |
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Disposals | ( |
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At 31 August 2019 |
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DEPRECIATION |
At 1 September 2018 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 August 2019 |
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NET BOOK VALUE |
At 31 August 2019 |
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At 31 August 2018 |
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Home Glazing Improvements Limited (Registered number: 04308929) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2019 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Plant and |
machinery |
etc |
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COST |
At 1 September 2018 |
and 31 August 2019 |
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DEPRECIATION |
At 1 September 2018 |
and 31 August 2019 |
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NET BOOK VALUE |
At 31 August 2019 |
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At 31 August 2018 |
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6. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 September 2018 |
and 31 August 2019 |
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NET BOOK VALUE |
At 31 August 2019 |
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At 31 August 2018 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.19 | 31.8.18 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.19 | 31.8.18 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.8.19 | 31.8.18 |
£ | £ |
Hire purchase contracts |
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Home Glazing Improvements Limited (Registered number: 04308929) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2019 |
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 August 2019 and 31 August 2018: |
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31.8.19 | 31.8.18 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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The directors' loan has been stated at its transactional value not its present value and will become repayable within the |
next year. The balance outstanding at 31st August 2018 was £99,958 (2017 £33,314) and no interest has been charged. |
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During the year, the company paid rent of £63,756 (2017: £63,899) in respect of its trading premises to the directors. |
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11. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by the directors, Mr D T Bailey and Mrs J M Bailey. |
Directors' Responsibilities Statement |
on the Unaudited Financial Statements of |
Home Glazing Improvements Limited |
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The following reproduces the text of the report prepared for the directors and members 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. |
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We confirm that as directors we have met our duty in accordance with the Companies Act 2006 to: |
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prepare financial statements which give a true and fair view of the state of affairs of the company as at 31 August 2019 and of
its profit for that period in accordance with United Kingdom Generally Accepted Accounting Practice; and |
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follow the applicable accounting policies, subject to any material departures disclosed and explained in the notes to the financial
statements. |
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ON BEHALF OF THE BOARD: |
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6 May 2020 |
Independent Chartered Certified Accountants' Review Report to the Directors of |
Home Glazing Improvements Limited |
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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. |
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We have reviewed the financial statements of Home Glazing Improvements Limited for the year ended 31 August 2019, which comprise the Income Statement, Balance Sheet and the related notes 1 to 12. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. |
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This report is made solely to the company's directors, as a body, in accordance with the terms of our engagement letter dated 30 November 2009. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in our engagement letter and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our work, for this report or the conclusions we have formed. |
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Directors' responsibility for the financial statements |
As explained more fully in the Directors' Responsibilities Statement set out on page nine, the directors are responsible for the |
preparation of the financial statements and for being satisfied that they give a true and fair view. |
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Accountants' responsibility |
Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review in |
accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial |
statements' and ICAEW Technical Release TECH 09/13AAF 'Assurance review engagements on historical financial statements'. ISRE |
2400 also requires us to comply with the ICAEW Code of Ethics. |
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Scope of the assurance review |
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed |
additional procedures to those required under a compilation engagement. These primarily consist of making enquiries of |
management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. |
The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with |
International Standards on Auditing (UK and Ireland). Accordingly, we do not express an audit opinion on these financial |
statements. |
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Conclusion |
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared: |
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so as to give a true and fair view of the state of the company's affairs as at 31 August 2019 and of its profit for the year then
ended; |
- | in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | in accordance with the requirements of the Companies Act 2006. |
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29 The Green |
Winchmore Hill |
London |
N21 1HS |
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