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REGISTERED NUMBER: 02265850 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Futureglaze Windows Limited

Futureglaze Windows Limited (Registered number: 02265850)






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


Futureglaze Windows Limited

Company Information
for the Year Ended 30 June 2023







Directors: Mr M R Dean
Mrs T A Dean





Secretary: Mrs T A Dean





Registered office: Unit 47
Gelli Industrial Estate
Gelli
Rhondda Cynon Taff
CF41 7UW





Registered number: 02265850 (England and Wales)





Accountants: Curtis Bowden & Thomas Limited
Chartered Certified Accountants
101 Dunraven Street
Tonypandy
CF40 1AR

Futureglaze Windows Limited (Registered number: 02265850)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 228,946 66,026

Current assets
Stocks 40,400 72,629
Debtors 5 113,113 85,750
Cash at bank and in hand 488,231 561,635
641,744 720,014
Creditors
Amounts falling due within one year 6 332,363 420,614
Net current assets 309,381 299,400
Total assets less current liabilities 538,327 365,426

Creditors
Amounts falling due after more than one
year

7

(80,524

)

-

Provisions for liabilities (41,238 ) (7,237 )
Net assets 416,565 358,189

Capital and reserves
Called up share capital 3 3
Retained earnings 416,562 358,186
Shareholders' funds 416,565 358,189

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.

Futureglaze Windows Limited (Registered number: 02265850)

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 12 October 2023 and were signed on its behalf by:





Mrs T A Dean - Director


Futureglaze Windows Limited (Registered number: 02265850)

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

1. Statutory information

Futureglaze Windows 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.

Hire purchase and leasing commitments
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.

Futureglaze Windows Limited (Registered number: 02265850)

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

3. Employees and directors

The average number of employees during the year was 11 (2022 - 10 ) .

4. Tangible fixed assets
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
Cost
At 1 July 2022 23,174 37,718 71,487 176,085 308,464
Additions - 6,695 - 209,850 216,545
Disposals - - - (31,350 ) (31,350 )
At 30 June 2023 23,174 44,413 71,487 354,585 493,659
Depreciation
At 1 July 2022 22,639 37,150 64,345 118,304 242,438
Charge for year 535 979 1,785 40,818 44,117
Eliminated on disposal - - - (21,842 ) (21,842 )
At 30 June 2023 23,174 38,129 66,130 137,280 264,713
Net book value
At 30 June 2023 - 6,284 5,357 217,305 228,946
At 30 June 2022 535 568 7,142 57,781 66,026

Included in the fixed assets are motor vehicles held under a hire purchase contract with a net book value of £94,814 (2022 : £30,995) The depreciation charge on these assets was £18,066 (2022 : £10,332)

5. Debtors: amounts falling due within one year
30.6.23 30.6.22
£    £   
Trade debtors 88,141 69,264
Other debtors 24,972 16,486
113,113 85,750

6. Creditors: amounts falling due within one year
30.6.23 30.6.22
£    £   
Hire purchase contracts 28,938 19,210
Trade creditors 171,091 158,996
Taxation and social security 61,895 108,225
Other creditors 70,439 134,183
332,363 420,614

7. Creditors: amounts falling due after more than one year
30.6.23 30.6.22
£    £   
Hire purchase contracts 80,524 -

Futureglaze Windows Limited (Registered number: 02265850)

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

8. Secured debts

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Hire purchase contracts 109,462 19,210

9. Contingent liabilities

Contingent liabilities exist in respect of guarantees given by the company on certain of its products.

10. Related party disclosures

The company has entered into rental agreements with the Futureglaze Windows Limited Pension Fund over the continued use of the properties previously sold to the Pension Fund.

The beneficiaries of the Pension Fund are the directors.