2022-05-012023-04-302023-04-30false09556949J M Glass 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J M Glass Limited

Registered Number
09556949
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2023

J M Glass Limited
Company Information
for the year from 1 May 2022 to 30 April 2023

Director

James Michael Turnock

Registered Address

Willow Brook
Yarcombe
Honiton
EX14 9LZ

Registered Number

09556949 (England and Wales)
J M Glass Limited
Balance Sheet as at
30 April 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets637,99584,623
37,99584,623
Current assets
Stocks3,0702,232
Debtors1,785998
Cash at bank and on hand12,9575,466
17,8128,696
Creditors amounts falling due within one year8(13,817)(19,022)
Net current assets (liabilities)3,995(10,326)
Total assets less current liabilities41,99074,297
Creditors amounts falling due after one year(4,340)(22,057)
Provisions for liabilities(928)(2,007)
Net assets36,72250,233
Capital and reserves
Called up share capital250250
Profit and loss account36,47249,983
Shareholders' funds36,72250,233
The financial statements were approved and authorised for issue by the Director on 6 November 2023, and are signed on its behalf by:
James Michael Turnock
Director
Registered Company No. 09556949
J M Glass Limited
Notes to the Financial Statements
for the year ended 30 April 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
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).
4.Accounting policies
Turnover policy
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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings15-
Plant and machinery25-
Vehicles25-
Office Equipment-3
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
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.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
5.Employee information
The following average number of employees includes directors.

20232022
Average number of employees during the year11
6.Property, plant and equipment

Total

£
Cost or valuation
At 01 May 22106,546
Additions(39,990)
At 30 April 2366,556
Depreciation and impairment
At 01 May 2221,923
Charge for year6,638
At 30 April 2328,561
Net book value
At 30 April 2337,995
At 30 April 2284,623
7.Debtors within one year

2023

2022

££
Trade debtors / trade receivables58240
Other debtors1,421224
Prepayments and accrued income306534
Total1,785998
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables7173,938
Bank borrowings and overdrafts2,1602,000
Taxation and social security9,2547,156
Finance lease and HP contracts-4,276
Accrued liabilities and deferred income1,6861,652
Total13,81719,022
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts-15,724