1
31/12/2021
2021-12-31
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2021-01-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
06702099
2021-01-01
2021-12-31
06702099
2021-12-31
06702099
2020-12-31
06702099
2020-01-01
2020-12-31
06702099
2020-12-31
06702099
bus:RegisteredOffice
2021-01-01
2021-12-31
06702099
bus:OrdinaryShareClass1
2021-01-01
2021-12-31
06702099
bus:LeadAgentIfApplicable
2021-01-01
2021-12-31
06702099
bus:Director1
2021-01-01
2021-12-31
06702099
core:PlantMachinery
2020-12-31
06702099
core:FurnitureFittingsToolsEquipment
2020-12-31
06702099
core:MotorVehicles
2020-12-31
06702099
core:PlantMachinery
2021-12-31
06702099
core:FurnitureFittingsToolsEquipment
2021-12-31
06702099
core:MotorVehicles
2021-12-31
06702099
core:DeferredTaxation
2021-01-01
2021-12-31
06702099
core:WithinOneYear
2021-12-31
06702099
core:WithinOneYear
2020-12-31
06702099
core:AfterOneYear
2021-12-31
06702099
core:AfterOneYear
2020-12-31
06702099
core:PlantMachinery
2021-01-01
2021-12-31
06702099
core:FurnitureFittingsToolsEquipment
2021-01-01
2021-12-31
06702099
core:MotorVehicles
2021-01-01
2021-12-31
06702099
core:ShareCapital
2021-12-31
06702099
core:ShareCapital
2020-12-31
06702099
core:RetainedEarningsAccumulatedLosses
2021-12-31
06702099
core:RetainedEarningsAccumulatedLosses
2020-12-31
06702099
bus:OrdinaryShareClass1
core:ShareCapital
2021-12-31
06702099
bus:OrdinaryShareClass1
core:ShareCapital
2020-12-31
06702099
core:AcceleratedTaxDepreciationDeferredTax
2021-12-31
06702099
core:AcceleratedTaxDepreciationDeferredTax
2020-12-31
06702099
core:PlantMachinery
2020-12-31
06702099
core:MotorVehicles
2020-12-31
06702099
core:DeferredTaxation
2020-12-31
06702099
core:DeferredTaxation
2021-12-31
06702099
bus:SmallEntities
2021-01-01
2021-12-31
06702099
bus:AuditExemptWithAccountantsReport
2021-01-01
2021-12-31
06702099
bus:FullAccounts
2021-01-01
2021-12-31
06702099
bus:SmallCompaniesRegimeForAccounts
2021-01-01
2021-12-31
06702099
bus:PrivateLimitedCompanyLtd
2021-01-01
2021-12-31
06702099
core:WithinOneYear
2021-01-01
2021-12-31
06702099
core:AfterOneYear
2021-01-01
2021-12-31
B S Glass and Glazing Ltd
Filleted accounts
31 December 2021
Company registration number:
06702099
B S Glass and Glazing Ltd
Directors and other information
|
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Director
|
B N Shorter
|
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Company number
|
06702099
|
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|
Registered office
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The Old Dairy
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|
12 Stephen Road
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Headington
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Oxford
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OX3 9AY
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Accountants
|
Cox Hinkins & Co. Limited
|
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Accountants and Taxation Advisors
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The Old Dairy
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12 Stephen Road
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Headington
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Oxford
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OX3 9AY
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B S Glass and Glazing Ltd
Balance sheet
31st December 2021
|
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2021
|
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2020
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Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Tangible assets
|
|
5
|
8,904
|
|
|
|
15,622
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
8,904
|
|
|
|
15,622
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Stocks
|
|
|
2,000
|
|
|
|
6,500
|
|
|
Debtors
|
|
6
|
73,110
|
|
|
|
68,364
|
|
|
Cash at bank and in hand
|
|
|
18,176
|
|
|
|
56,011
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
93,286
|
|
|
|
130,875
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
7
|
(
35,515)
|
|
|
|
(
51,234)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets
|
|
|
|
|
57,771
|
|
|
|
79,641
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
66,675
|
|
|
|
95,263
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
after more than one year
|
|
8
|
|
|
(
17,418)
|
|
|
|
(
26,603)
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities
|
|
9
|
|
|
(
2,226)
|
|
|
|
(
2,968)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
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_______
|
Net assets
|
|
|
|
|
47,031
|
|
|
|
65,692
|
|
|
|
|
|
_______
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|
_______
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|
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Capital and reserves
|
|
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|
|
|
|
|
|
|
Called up share capital
|
|
11
|
|
|
1
|
|
|
|
1
|
Profit and loss account
|
|
|
|
|
47,030
|
|
|
|
65,691
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
47,031
|
|
|
|
65,692
|
|
|
|
|
|
_______
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_______
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For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit & loss account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
23 December 2022
, and are signed on behalf of the board by:
B N Shorter
Director
Company registration number:
06702099
B S Glass and Glazing Ltd
Notes to the financial statements
Year ended 31st December 2021
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Old Dairy, 12 Stephen Road, Headington, Oxford, OX3 9AY.
There was no significant change in the company's principal activity during the year which continued to be that of supplying glass and glazing.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below.
The financial statements are prepared in sterling which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
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|
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|
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Equipment
|
-
|
Reducing balance basis at 25% per annum
|
|
Office equipment
|
-
|
Straight line basis over 3 years
|
|
Motor vehicles
|
-
|
Reducing balance basis at 25% per annum
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|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. Cost is calculated using the first in, first out formula. Provision is made for damaged, obsolete and slow moving stock where appropriate.
Hire purchase and finance leases
Assets held under finance leases are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2020:
3
).
5.
Tangible assets
|
|
Equipment
|
Office equipment
|
Motor vehicles
|
Total
|
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
|
Cost
|
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At 1st January 2021
|
32,871
|
8,352
|
45,787
|
87,010
|
|
|
|
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Disposals
|
(
20,195)
|
(
5,332)
|
(
22,720)
|
(
48,247)
|
|
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|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 31st December 2021
|
12,676
|
3,020
|
23,067
|
38,763
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
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|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1st January 2021
|
29,381
|
8,352
|
33,655
|
71,388
|
|
|
|
|
Charge for the year
|
876
|
-
|
3,034
|
3,910
|
|
|
|
|
Disposals
|
(
19,201)
|
(
5,332)
|
(
20,906)
|
(
45,439)
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 31st December 2021
|
11,056
|
3,020
|
15,783
|
29,859
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31st December 2021
|
1,620
|
-
|
7,284
|
8,904
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 31st December 2020
|
3,490
|
-
|
12,132
|
15,622
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Debtors
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
40,676
|
60,332
|
|
Other debtors
|
|
32,434
|
8,032
|
|
|
|
_______
|
_______
|
|
|
|
73,110
|
68,364
|
|
|
|
_______
|
_______
|
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Bank loan
|
|
4,823
|
2,917
|
|
Trade creditors
|
|
12,743
|
10,051
|
|
Social security and other taxes
|
|
3,960
|
14,115
|
|
Other creditors
|
|
13,989
|
24,151
|
|
|
|
_______
|
_______
|
|
|
|
35,515
|
51,234
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Other creditors include £4,717 (2020:£4,298) which are secured on the company's assets.
8.
Creditors: amounts falling due after more than one year
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Bank loan
|
|
17,418
|
22,083
|
|
Other creditors
|
|
-
|
4,520
|
|
|
|
_______
|
_______
|
|
|
|
17,418
|
26,603
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Other creditors are secured on the company's assets.
9.
Provisions
|
|
Deferred tax (note 10)
|
Total
|
|
|
|
|
|
£
|
£
|
|
|
|
|
At 1st January 2021
|
2,968
|
2,968
|
|
|
|
|
Additions
|
(
742)
|
(
742)
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
At 31st December 2021
|
2,226
|
2,226
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
10.
Deferred tax
The deferred tax included in the Balance sheet is as follows:
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Included in provisions (note 9)
|
|
2,226
|
2,968
|
|
|
|
_______
|
_______
|
|
|
|
|
|
The deferred tax account consists of the tax effect of timing differences in respect of:
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Accelerated capital allowances
|
|
2,226
|
2,968
|
|
|
|
_______
|
_______
|
|
|
|
|
|
11.
Called up share capital
Issued, called up and fully paid
|
|
|
2021
|
|
|
|
2020
|
|
|
|
|
|
No
|
|
£
|
|
No
|
|
£
|
|
Ordinary
shares of £
1.00 each
|
|
1
|
|
1
|
|
1
|
|
1
|
|
|
|
_______
|
|
_______
|
|
_______
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
12.
Controlling party
The company is under the control of
B N Shorter
who owns 100% of the issued share capital.