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REGISTERED NUMBER: 03135801 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Senior Glass Systems Limited

Senior Glass Systems Limited (Registered number: 03135801)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

Senior Glass Systems Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mrs R Castle
Mr M G Bristow





SECRETARY: Mrs R Castle





REGISTERED OFFICE: Lakeside House
Hopper Hill Road
Eastfield
Scarborough
North Yorkshire
YO11 3YS





REGISTERED NUMBER: 03135801 (England and Wales)





ACCOUNTANTS: Asquith & Co Accountants Limited
Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX

Senior Glass Systems Limited (Registered number: 03135801)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,429,880 1,484,205
1,429,880 1,484,205

CURRENT ASSETS
Stocks 460,300 439,001
Debtors 6 931,089 1,097,989
Cash at bank and in hand 569,816 632,865
1,961,205 2,169,855
CREDITORS
Amounts falling due within one year 7 1,466,031 1,614,423
NET CURRENT ASSETS 495,174 555,432
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,925,054

2,039,637

CREDITORS
Amounts falling due after more than one
year

8

(402,368

)

(701,212

)

PROVISIONS FOR LIABILITIES (134,525 ) (2,575 )
NET ASSETS 1,388,161 1,335,850

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,387,161 1,334,850
1,388,161 1,335,850

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

Senior Glass Systems Limited (Registered number: 03135801)

Balance Sheet - continued
30 June 2023


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 25 September 2023 and were signed on its behalf by:




Mrs R Castle - Director



Mr M G Bristow - Director


Senior Glass Systems Limited (Registered number: 03135801)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Senior Glass Systems 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Land and buildings - 10% on cost
Plant and machinery etc - 50% on cost, 33% on cost, 25% on cost, 20% on cost and Straight line over 15 years

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Senior Glass Systems Limited (Registered number: 03135801)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 43 (2022 - 54 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 27,500
AMORTISATION
At 1 July 2022
and 30 June 2023 27,500
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

Senior Glass Systems Limited (Registered number: 03135801)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2022 224,538 2,537,263 2,761,801
Additions 14,080 196,794 210,874
Disposals - (54,234 ) (54,234 )
At 30 June 2023 238,618 2,679,823 2,918,441
DEPRECIATION
At 1 July 2022 178,121 1,099,475 1,277,596
Charge for year 17,204 235,085 252,289
Eliminated on disposal - (41,324 ) (41,324 )
At 30 June 2023 195,325 1,293,236 1,488,561
NET BOOK VALUE
At 30 June 2023 43,293 1,386,587 1,429,880
At 30 June 2022 46,417 1,437,788 1,484,205

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 1,528,832
DEPRECIATION
At 1 July 2022 480,131
Charge for year 124,721
At 30 June 2023 604,852
NET BOOK VALUE
At 30 June 2023 923,980
At 30 June 2022 1,048,701

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 847,440 983,294
Other debtors 83,649 114,695
931,089 1,097,989

Senior Glass Systems Limited (Registered number: 03135801)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 56,513 50,000
Hire purchase contracts (see note 9) 206,595 267,081
Payments on account 10,207 2,467
Trade creditors 616,635 705,582
Taxation and social security 98,273 121,095
Other creditors 477,808 468,198
1,466,031 1,614,423

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans 86,077 137,684
Hire purchase contracts (see note 9) 316,291 563,528
402,368 701,212

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.6.23 30.6.22
£    £   
Net obligations repayable:
Within one year 206,595 267,081
Between one and five years 316,291 563,528
522,886 830,609

Non-cancellable operating leases
30.6.23 30.6.22
£    £   
Within one year 172,288 166,425
Between one and five years 585,503 591,286
In more than five years 431,667 571,667
1,189,458 1,329,378

10. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Invoice discounting facility 278,801 315,022

A debenture is held over the company by Santander UK PLC. The debenture contains fixed and floating charges over the undertaking and all property and assets, present and future. The debenture contains a negative pledge.

Senior Glass Systems Limited

Report of the Accountants to the Directors of
Senior Glass Systems 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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 June 2023 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Asquith & Co Accountants Limited
Rowan House
7 West Bank
SCARBOROUGH
North Yorkshire
YO12 4DX


Date: .............................................