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REGISTERED NUMBER: 04963496 (England and Wales)





GRASSMOOR GLASS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023






GRASSMOOR GLASS LIMITED (REGISTERED NUMBER: 04963496)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GRASSMOOR GLASS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Mrs E Thornhill
Mr T Thornhill



SECRETARY: Mrs E Thornhill



REGISTERED OFFICE: 7 St John Street
Mansfield
Nottinghamshire
NG18 1QH



REGISTERED NUMBER: 04963496 (England and Wales)



ACCOUNTANTS: ApC
Chartered Accountants
7 St John Street
Mansfield
Nottinghamshire
NG18 1QH



BANKERS: HSBC
1 Lemming Street
Mansfield
Nottinghamshire
NG18 1LU

GRASSMOOR GLASS LIMITED (REGISTERED NUMBER: 04963496)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 71,358 57,950
71,358 57,950

CURRENT ASSETS
Stocks 7 47,553 42,513
Debtors 8 242,950 219,142
Cash at bank and in hand 210,975 346,379
501,478 608,034
CREDITORS
Amounts falling due within one year 9 439,870 602,126
NET CURRENT ASSETS 61,608 5,908
TOTAL ASSETS LESS CURRENT
LIABILITIES

132,966

63,858

CREDITORS
Amounts falling due after more than one
year

10

(19,289

)

(27,218

)

PROVISIONS FOR LIABILITIES (15,699 ) (11,007 )
NET ASSETS 97,978 25,633

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 97,878 25,533
SHAREHOLDERS' FUNDS 97,978 25,633

GRASSMOOR GLASS LIMITED (REGISTERED NUMBER: 04963496)

BALANCE SHEET - continued
31 JANUARY 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

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 17 August 2023 and were signed on its behalf by:




Mrs E Thornhill - Director



Mr T Thornhill - Director


GRASSMOOR GLASS LIMITED (REGISTERED NUMBER: 04963496)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023


1. STATUTORY INFORMATION

Grassmoor Glass 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
Amounts Recoverable on Contracts- This is estimated in line with the stage of completion of the work. Only the recoverable amount is carried forward.

Turnover
Turnover represents the value excluding Value Added Tax of manufactured scaled double glazed units and flat glass cutters and accessories supplied to trade and retail customers during the year, all income is taken to profit and loss at the same point as the right to receive consideration is acquired.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of five 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.

GRASSMOOR GLASS LIMITED (REGISTERED NUMBER: 04963496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Showroom & Office - 10% straight line
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on reducing balance

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

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.

GRASSMOOR GLASS LIMITED (REGISTERED NUMBER: 04963496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


3. 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.

Financial instruments
Financial instruments and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 15 ) .

GRASSMOOR GLASS LIMITED (REGISTERED NUMBER: 04963496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 20,500
AMORTISATION
At 1 February 2022
and 31 January 2023 20,500
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 -

6. TANGIBLE FIXED ASSETS
Fixtures
Showroom Plant and and
& Office machinery fittings
£    £    £   
COST
At 1 February 2022 36,377 21,287 5,726
Additions - - 330
Disposals - - -
At 31 January 2023 36,377 21,287 6,056
DEPRECIATION
At 1 February 2022 29,841 14,429 4,880
Charge for year 917 1,029 178
Eliminated on disposal - - -
At 31 January 2023 30,758 15,458 5,058
NET BOOK VALUE
At 31 January 2023 5,619 5,829 998
At 31 January 2022 6,536 6,858 846

GRASSMOOR GLASS LIMITED (REGISTERED NUMBER: 04963496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


6. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2022 106,041 14,576 184,007
Additions 46,495 1,507 48,332
Disposals (24,000 ) - (24,000 )
At 31 January 2023 128,536 16,083 208,339
DEPRECIATION
At 1 February 2022 64,473 12,434 126,057
Charge for year 18,830 1,219 22,173
Eliminated on disposal (11,249 ) - (11,249 )
At 31 January 2023 72,054 13,653 136,981
NET BOOK VALUE
At 31 January 2023 56,482 2,430 71,358
At 31 January 2022 41,568 2,142 57,950

7. STOCKS
2023 2022
£    £   
Stocks 47,553 42,513

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,379 4,418
Amounts recoverable on contract 215,033 169,341
Prepayments and accrued income 26,538 45,383
242,950 219,142

GRASSMOOR GLASS LIMITED (REGISTERED NUMBER: 04963496)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,929 7,733
Trade creditors 342,261 485,085
Corporation tax 14,796 2,799
Social security and other taxes 18,537 15,219
VAT 31,463 77,778
Other creditors 700 -
Directors' current accounts 3,441 3,062
Accruals and deferred income 20,743 10,450
439,870 602,126

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 19,289 27,218

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

12. CAPITAL COMMITMENTS

The company had no capital commitments, or contingent liabilities at the balance sheet date.

13. RELATED PARTY DISCLOSURES

Key management personnel remuneration in the year totalled £164,218 (2022:£132,072)