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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2017 |
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FOR |
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RAPID GLAZING & WINDOWS LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2017 |
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FOR |
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RAPID GLAZING & WINDOWS LTD |
RAPID GLAZING & WINDOWS LTD (REGISTERED NUMBER: 04791104) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2017 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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RAPID GLAZING & WINDOWS LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2017 |
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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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18 Mulberry Avenue |
Turnstone Park |
Widnes |
WA8 0WN |
RAPID GLAZING & WINDOWS LTD (REGISTERED NUMBER: 04791104) |
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ABRIDGED BALANCE SHEET |
30 JUNE 2017 |
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30.6.17 | 30.6.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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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 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. |
RAPID GLAZING & WINDOWS LTD (REGISTERED NUMBER: 04791104) |
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ABRIDGED BALANCE SHEET - continued |
30 JUNE 2017 |
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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 on
by: |
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RAPID GLAZING & WINDOWS LTD (REGISTERED NUMBER: 04791104) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2017 |
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1. | STATUTORY INFORMATION |
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Rapid Glazing & Windows Ltd 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 comprises revenue recognised by the company in respect of goods and services supplied during the |
year, exclusive of value added tax and discounts. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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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. |
RAPID GLAZING & WINDOWS LTD (REGISTERED NUMBER: 04791104) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2017 |
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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 July 2016 |
and 30 June 2017 |
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DEPRECIATION |
At 1 July 2016 |
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Charge for year |
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At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
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Totals |
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COST |
At 1 July 2016 |
and 30 June 2017 | 10,993 |
DEPRECIATION |
At 1 July 2016 |
and 30 June 2017 | 2,748 |
NET BOOK VALUE |
At 30 June 2017 | 8,245 |
At 30 June 2016 | 8,245 |
RAPID GLAZING & WINDOWS LTD (REGISTERED NUMBER: 04791104) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2017 |
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5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 30 June 2017 and |
30 June 2016: |
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30.6.17 | 30.6.16 |
£ | £ |
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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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6. | FIRST YEAR ADOPTION |
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This is the first year that the company has presented its financial statements under Financial Reporting |
Standard 102 (FRS102) issued by the Financial Reporting Council. The last financial statements, for the year |
ended 30 June 2016, were prepared under previous UK GAAP. The transition date to FRS102 is therefore 1 July |
2015. |
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Adopting FRS102 has required no changes to the accounting policies, had no affect on its financial position or |
its financial performance. |
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