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Company Registration No. 07243843 (England and Wales)
Elegance Glazing Limited Unaudited accounts for the year ended 31 May 2023
Elegance Glazing Limited Unaudited accounts Contents
Page
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Elegance Glazing Limited Company Information for the year ended 31 May 2023
Directors
B Farooq S Bilal
Secretary
S Bilal
Company Number
07243843 (England and Wales)
Registered Office
34-35 The Hill Northfleet Kent DA11 9EX
Accountants
Clayton Stirling 123 Cross Lane East Gravesend Kent DA12 5HA
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Elegance Glazing Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,588 
8,746 
Current assets
Inventories
43,682 
- 
Debtors
901 
10,649 
Cash at bank and in hand
26,867 
67,297 
71,450 
77,946 
Creditors: amounts falling due within one year
(58,345)
(50,706)
Net current assets
13,105 
27,240 
Total assets less current liabilities
19,693 
35,986 
Creditors: amounts falling due after more than one year
(20,765)
(30,765)
Net (liabilities)/assets
(1,072)
5,221 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(1,172)
5,121 
Shareholders' funds
(1,072)
5,221 
For the year ending 31 May 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 directors acknowledge their 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 of Directors and authorised for issue on 15 September 2023 and were signed on its behalf by
B Farooq Director Company Registration No. 07243843
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Elegance Glazing Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Elegance Glazing Limited is a private company, limited by shares, registered in England and Wales, registration number 07243843. The registered office is 34-35 The Hill, Northfleet, Kent, DA11 9EX.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
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.
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
20% reducing balance basis
Motor vehicles
25% reducing balance basis
Computer equipment
5 years straight line
Inventories
Inventories 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.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Elegance Glazing Limited Notes to the Accounts for the year ended 31 May 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2022
621 
12,582 
666 
13,869 
Additions
- 
- 
140 
140 
At 31 May 2023
621 
12,582 
806 
14,009 
Depreciation
At 1 June 2022
462 
4,129 
532 
5,123 
Charge for the year
32 
2,113 
153 
2,298 
At 31 May 2023
494 
6,242 
685 
7,421 
Net book value
At 31 May 2023
127 
6,340 
121 
6,588 
At 31 May 2022
159 
8,453 
134 
8,746 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
507 
10,649 
Accrued income and prepayments
394 
- 
901 
10,649 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,000 
9,745 
Trade creditors
7,624 
5,375 
Taxes and social security
713 
10,672 
Other creditors
792 
- 
Loans from directors
30,643 
10,942 
Accruals
1,233 
1,203 
Deferred income
7,340 
12,769 
58,345 
50,706 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
20,765 
30,765 
8
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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