Company Registration No. 04260908 (England and Wales)
Colchester Glazing Co LTD
Unaudited accounts
for the year ended 31 January 2023
Colchester Glazing Co LTD
Statement of financial position
as at 31 January 2023
Tangible assets
39,466
16,480
Cash at bank and in hand
56,455
46,499
Creditors: amounts falling due within one year
(49,232)
(51,799)
Net current assets
61,148
48,245
Total assets less current liabilities
100,615
64,726
Creditors: amounts falling due after more than one year
(76,220)
(59,561)
Provisions for liabilities
Deferred tax
(7,499)
(3,132)
Called up share capital
100
100
Profit and loss account
16,796
1,933
Shareholders' funds
16,896
2,033
For the year ending 31 January 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 September 2023 and were signed on its behalf by
Mr B Garrity
Director
Company Registration No. 04260908
Colchester Glazing Co LTD
Notes to the Accounts
for the year ended 31 January 2023
Colchester Glazing Co LTD is a private company, limited by shares, registered in England and Wales, registration number 04260908. The registered office is Unit A10 Moorside, Business Centre, Colchester, Essex, CO1 2ZF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Straight line
Motor vehicles
25% Straight line
Fixtures & fittings
25% Straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Colchester Glazing Co LTD
Notes to the Accounts
for the year ended 31 January 2023
Stock have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 February 2022
26,876
71,819
27,079
125,774
Additions
-
58,644
1,316
59,960
Disposals
-
(32,900)
-
(32,900)
At 31 January 2023
26,876
97,563
28,395
152,834
At 1 February 2022
26,877
56,069
26,348
109,294
Charge for the year
-
14,498
826
15,324
On disposals
-
(11,250)
-
(11,250)
At 31 January 2023
26,877
59,317
27,174
113,368
At 31 January 2023
(1)
38,246
1,221
39,466
At 31 January 2022
(1)
15,750
731
16,480
Amounts falling due within one year
Trade debtors
39,036
16,240
Accrued income and prepayments
1,610
1,610
Other debtors
9,279
24,409
Colchester Glazing Co LTD
Notes to the Accounts
for the year ended 31 January 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
5,075
5,564
Obligations under finance leases and hire purchase contracts
11,087
6,032
Trade creditors
20,526
31,133
Taxes and social security
10,836
7,570
Other creditors
1,708
1,500
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
39,721
18,489
9
Average number of employees
During the year the average number of employees was 6 (2022: 7).