Registered number
08349266
Prad Glass Limited
Unaudited Filleted Accounts and Notes
For the year ended
31 January 2023
Prad Glass Limited
Registered number: 08349266
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 43,197 9,681
Current assets
Stocks 23,602 -
Debtors 4 190,100 80,247
Cash at bank and in hand 2,759 9,218
216,461 89,465
Creditors: amounts falling due within one year 5 (21,658) (60,919)
Net current assets 194,803 28,546
Total assets less current liabilities 238,000 38,227
Creditors: amounts falling due after more than one year 6 (91,591) (42,634)
Net assets/(liabilities) 146,409 (4,407)
Capital and reserves
Called up share capital 100 100
Profit and loss account 146,309 (4,507)
Shareholders' funds 146,409 (4,407)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Pradip Patel
Director
Approved by the board on 20 October 2023
Prad Glass Limited
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2022 92,971 18,622 111,593
Additions 52,029 - 52,029
At 31 January 2023 145,000 18,622 163,622
Depreciation
At 1 February 2022 83,264 18,648 101,912
Charge for the year 17,014 1,499 18,513
At 31 January 2023 100,278 20,147 120,425
Net book value
At 31 January 2023 44,722 (1,525) 43,197
At 31 January 2022 9,707 (26) 9,681
4 Debtors 2023 2022
£ £
Trade debtors 36,672 -
Amounts owed by group undertakings and undertakings in which the company has a participating interest 147,411 57,208
Other debtors 6,017 23,039
190,100 80,247
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 84,229 61,497
Taxation and social security costs (14,563) 17,252
Other creditors (48,008) (17,830)
21,658 60,919
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 91,591 42,634
7 Other information
Prad Glass Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 Laurel Park
Harrow
Middx
HA3 6AU
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