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REGISTERED NUMBER: 02413016 (England and Wales)
















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

GLASSWORKS EQUIPMENT LIMITED

GLASSWORKS EQUIPMENT LIMITED (REGISTERED NUMBER: 02413016)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


GLASSWORKS EQUIPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: R J Brinkman
Mrs S Brinkman
O G Brinkman
W R Brinkman





REGISTERED OFFICE: Park Lane
HALESOWEN
West Midlands
B63 2QS





REGISTERED NUMBER: 02413016 (England and Wales)





ACCOUNTANTS: E R Grove & Co Limited
Chartered Accountants
Grove House
Coombs Wood Court
Steel Park Road
Halesowen
West Midlands
B62 8BF

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GLASSWORKS EQUIPMENT LIMITED

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Glassworks Equipment Limited for the year ended 31 March 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Glassworks Equipment Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Glassworks Equipment Limited and state those matters that we have agreed to state to the Board of Directors of Glassworks Equipment Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Glassworks Equipment Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Glassworks Equipment Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Glassworks Equipment Limited. You consider that Glassworks Equipment Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Glassworks Equipment Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






E R Grove & Co Limited
Chartered Accountants
Grove House
Coombs Wood Court
Steel Park Road
Halesowen
West Midlands
B62 8BF


7 September 2022

GLASSWORKS EQUIPMENT LIMITED (REGISTERED NUMBER: 02413016)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 536,149 379,222
Investments 5 494,881 491,083
1,031,030 870,305

CURRENT ASSETS
Debtors 6 1,825,084 1,265,944
Investments 7 1,155,219 1,152,398
Cash at bank 1,812,363 573,875
4,792,666 2,992,217
CREDITORS
Amounts falling due within one year 8 2,415,259 898,548
NET CURRENT ASSETS 2,377,407 2,093,669
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,408,437

2,963,974

CREDITORS
Amounts falling due after more than one
year

9

(69,998

)

-

PROVISIONS FOR LIABILITIES (44,099 ) (81 )
NET ASSETS 3,294,340 2,963,893

CAPITAL AND RESERVES
Called up share capital 9,389 9,389
Share premium 227,945 227,945
Retained earnings 3,057,006 2,726,559
SHAREHOLDERS' FUNDS 3,294,340 2,963,893

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

GLASSWORKS EQUIPMENT LIMITED (REGISTERED NUMBER: 02413016)

BALANCE SHEET - continued
31 MARCH 2022


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 7 September 2022 and were signed on its behalf by:





W R Brinkman - Director


GLASSWORKS EQUIPMENT LIMITED (REGISTERED NUMBER: 02413016)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

Glassworks Equipment 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Glassworks Equipment Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Computer equipment - 25% on reducing balance

Financial instruments
Listed investments are stated at market value. Gains or losses arising from changes in the market value of investments are included in the income statement in the period in which they arise.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

GLASSWORKS EQUIPMENT LIMITED (REGISTERED NUMBER: 02413016)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

2. ACCOUNTING POLICIES - continued

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.

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.

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 3 (2021 - 3 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 April 2021 385,000 - 2,199 387,199
Additions - 204,044 - 204,044
At 31 March 2022 385,000 204,044 2,199 591,243
DEPRECIATION
At 1 April 2021 6,202 - 1,775 7,977
Charge for year 6,202 40,809 106 47,117
At 31 March 2022 12,404 40,809 1,881 55,094
NET BOOK VALUE
At 31 March 2022 372,596 163,235 318 536,149
At 31 March 2021 378,798 - 424 379,222

Included in cost of land and buildings is freehold land of £ 74,905 (2021 - £ 74,905 ) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
Additions 160,000
At 31 March 2022 160,000
DEPRECIATION
Charge for year 32,000
At 31 March 2022 32,000
NET BOOK VALUE
At 31 March 2022 128,000

GLASSWORKS EQUIPMENT LIMITED (REGISTERED NUMBER: 02413016)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

5. FIXED ASSET INVESTMENTS
Listed Unlisted
investments investments Totals
£    £    £   
COST OR VALUATION
At 1 April 2021 125,529 426,638 552,167
Additions - 145 145
At 31 March 2022 125,529 426,783 552,312
PROVISIONS
At 1 April 2021 67,045 (5,961 ) 61,084

Revaluation adjustments (759 ) (2,894 ) (3,653 )
At 31 March 2022 66,286 (8,855 ) 57,431
NET BOOK VALUE
At 31 March 2022 59,243 435,638 494,881
At 31 March 2021 58,484 432,599 491,083

Cost or valuation at 31 March 2022 is represented by:

Listed Unlisted
investments investments Totals
£    £    £   
Cost 125,529 426,783 552,312

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 10,824 82,894
Other debtors 1,814,260 1,183,050
1,825,084 1,265,944

7. CURRENT ASSET INVESTMENTS
2022 2021
£    £   
Treasury deposit 1,155,219 1,152,398

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Hire purchase contracts 33,575 -
Trade creditors 133,929 138,312
Taxation and social security 92,985 102,293
Other creditors 2,154,770 657,943
2,415,259 898,548

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Hire purchase contracts 69,998 -

GLASSWORKS EQUIPMENT LIMITED (REGISTERED NUMBER: 02413016)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the balance sheet date £1,524,529 (2021: £1,124,530) was owed from an associated company under common control with Mr W Brinkman and Mr O Brinkman.