MY GLASS PROJECTS LTD

Company Registration Number:
09270484 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2021

Period of accounts

Start date: 01 November 2020

End date: 31 October 2021

MY GLASS PROJECTS LTD

Contents of the Financial Statements

for the Period Ended 31 October 2021

Balance sheet
Notes

MY GLASS PROJECTS LTD

Balance sheet

As at 31 October 2021


Notes

2021

2020


£

£
Fixed assets
Tangible assets: 3 410,822 229,247
Total fixed assets: 410,822 229,247
Current assets
Stocks: 413,900 378,500
Debtors:   500,249 430,364
Cash at bank and in hand: 82,997 12,977
Total current assets: 997,146 821,841
Creditors: amounts falling due within one year:   (781,204) (616,342)
Net current assets (liabilities): 215,942 205,499
Total assets less current liabilities: 626,764 434,746
Creditors: amounts falling due after more than one year:   (297,157) (123,157)
Total net assets (liabilities): 329,607 311,589
Capital and reserves
Called up share capital: 175,075 175,075
Share premium account: 75,000 75,000
Profit and loss account: 79,532 61,514
Shareholders funds: 329,607 311,589

The notes form part of these financial statements

MY GLASS PROJECTS LTD

Balance sheet statements

For the year ending 31 October 2021 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 August 2022
and signed on behalf of the board by:

Name: Sunil Brahm SHARDA
Status: Director

The notes form part of these financial statements

MY GLASS PROJECTS LTD

Notes to the Financial Statements

for the Period Ended 31 October 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as followsIf 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.

Valuation and information policy

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.

MY GLASS PROJECTS LTD

Notes to the Financial Statements

for the Period Ended 31 October 2021

2. Employees

2021 2020
Average number of employees during the period 20 20

MY GLASS PROJECTS LTD

Notes to the Financial Statements

for the Period Ended 31 October 2021

3. Tangible Assets

Total
Cost £
At 01 November 2020 408,303
Additions 196,991
At 31 October 2021 605,294
Depreciation
At 01 November 2020 179,056
Charge for year 15,416
At 31 October 2021 194,472
Net book value
At 31 October 2021 410,822
At 31 October 2020 229,247