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Financial Statements for the Year Ended 31 August 2021

for

Mirrors & Glass (Stockport) Limited

Mirrors & Glass (Stockport) Limited (Registered number: 00886904)






Contents of the Financial Statements
for the Year Ended 31 August 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mirrors & Glass (Stockport) Limited

Company Information
for the Year Ended 31 August 2021







DIRECTORS: M. Hilgart
P S Hilgart
Mrs H Hilgart





SECRETARY: P S Hilgart





REGISTERED OFFICE: 84/86, Wellington Road North
Stockport
Cheshire
SK4 1HW





REGISTERED NUMBER: 00886904 (England and Wales)





ACCOUNTANTS: Statera Accountants LLP
8 Stockport Road
Marple
Stockport
Cheshire
SK6 6BJ

Mirrors & Glass (Stockport) Limited (Registered number: 00886904)

Balance Sheet
31 August 2021

31.8.21 31.8.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 340,560 341,979

CURRENT ASSETS
Stocks 5 12,953 8,776
Debtors 6 7,363 5,621
Cash at bank 37,545 102,474
57,861 116,871
CREDITORS
Amounts falling due within one year 7 84,354 101,725
NET CURRENT (LIABILITIES)/ASSETS (26,493 ) 15,146
TOTAL ASSETS LESS CURRENT
LIABILITIES

314,067

357,125

CREDITORS
Amounts falling due after more than one
year

8

76,137

96,730
NET ASSETS 237,930 260,395

CAPITAL AND RESERVES
Called up share capital 112 112
Revaluation reserve 9 136,900 136,900
Capital redemption reserve 88 88
Retained earnings 100,830 123,295
SHAREHOLDERS' FUNDS 237,930 260,395

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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.

Mirrors & Glass (Stockport) Limited (Registered number: 00886904)

Balance Sheet - continued
31 August 2021


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 12 August 2022 and were signed on its behalf by:





P S Hilgart - Director


Mirrors & Glass (Stockport) Limited (Registered number: 00886904)

Notes to the Financial Statements
for the Year Ended 31 August 2021

1. STATUTORY INFORMATION

Mirrors & Glass (Stockport) Limited is a private company, limited by shares , registered in England and Wales. 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.
Freehold property - Nil
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 year was 13 (2020 - 12 ) .

Mirrors & Glass (Stockport) Limited (Registered number: 00886904)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2021

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 September 2020 168,970 446,848 59,361
Additions - 19,599 72
Disposals - - -
At 31 August 2021 168,970 466,447 59,433
DEPRECIATION
At 1 September 2020 - 324,221 47,409
Charge for year - 21,336 1,806
Eliminated on disposal - - -
At 31 August 2021 - 345,557 49,215
NET BOOK VALUE
At 31 August 2021 168,970 120,890 10,218
At 31 August 2020 168,970 122,627 11,952

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2020 75,135 10,318 760,632
Additions 23,500 - 43,171
Disposals (24,260 ) - (24,260 )
At 31 August 2021 74,375 10,318 779,543
DEPRECIATION
At 1 September 2020 37,360 9,663 418,653
Charge for year 10,823 390 34,355
Eliminated on disposal (14,025 ) - (14,025 )
At 31 August 2021 34,158 10,053 438,983
NET BOOK VALUE
At 31 August 2021 40,217 265 340,560
At 31 August 2020 37,775 655 341,979

5. STOCKS
31.8.21 31.8.20
£    £   
Stocks 12,953 8,776

Mirrors & Glass (Stockport) Limited (Registered number: 00886904)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2021

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.21 31.8.20
£    £   
Trade debtors 4,520 3,271
Other debtors 2,843 2,350
7,363 5,621

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.21 31.8.20
£    £   
Bank loans and overdrafts 27,231 11,991
Hire purchase contracts 23,156 27,003
Trade creditors 9,967 11,660
Taxation and social security 14,836 35,464
Other creditors 9,164 15,607
84,354 101,725

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.21 31.8.20
£    £   
Bank loans 49,789 66,304
Hire purchase contracts 26,348 30,426
76,137 96,730

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase 8,969 12,977

The Bank Loan is secured by a charge over the Freehold Land and Buildings.


9. RESERVES
Revaluation
reserve
£   
At 1 September 2020
and 31 August 2021 136,900