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REGISTERED NUMBER: 09454375 (United Kingdom)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

GLASSEAL ARCHITECTURAL LTD

GLASSEAL ARCHITECTURAL LTD (REGISTERED NUMBER: 09454375)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


GLASSEAL ARCHITECTURAL LTD (REGISTERED NUMBER: 09454375)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,208 51,028

CURRENT ASSETS
Stocks 8,630 11,501
Debtors 5 62,199 123,667
Cash at bank 1,223 35,688
72,052 170,856
CREDITORS
Amounts falling due within one year 6 63,775 141,852
NET CURRENT ASSETS 8,277 29,004
TOTAL ASSETS LESS CURRENT LIABILITIES 32,485 80,032

CREDITORS
Amounts falling due after more than one year 7 (18,728 ) (30,226 )

PROVISIONS FOR LIABILITIES (3,582 ) (9,661 )
NET ASSETS 10,175 40,145

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 10,174 40,144
SHAREHOLDERS' FUNDS 10,175 40,145

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

GLASSEAL ARCHITECTURAL LTD (REGISTERED NUMBER: 09454375)

Balance Sheet - continued
31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 November 2023 and were signed by:





Mr N J Crowley - Director


GLASSEAL ARCHITECTURAL LTD (REGISTERED NUMBER: 09454375)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Glasseal Architectural Ltd is a private company, limited by shares , registered in United Kingdom. The company's registered number and registered office address are as below:

Registered number: 09454375

Registered office: Unit B
10 Newport Road Bedwas
Caerphilly
CF83 8DX

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.
Improvements to property - 10% Straight line
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% 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 Profit and Loss Account, 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.


GLASSEAL ARCHITECTURAL LTD (REGISTERED NUMBER: 09454375)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2022 - 5,105 250
Additions 7,149 - -
Disposals - - -
At 31 March 2023 7,149 5,105 250
DEPRECIATION
At 1 April 2022 - 2,259 206
Charge for year 692 711 11
Eliminated on disposal - - -
At 31 March 2023 692 2,970 217
NET BOOK VALUE
At 31 March 2023 6,457 2,135 33
At 31 March 2022 - 2,846 44

GLASSEAL ARCHITECTURAL LTD (REGISTERED NUMBER: 09454375)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 69,553 1,437 76,345
Additions - - 7,149
Disposals (41,603 ) - (41,603 )
At 31 March 2023 27,950 1,437 41,891
DEPRECIATION
At 1 April 2022 21,665 1,187 25,317
Charge for year 10,062 62 11,538
Eliminated on disposal (19,172 ) - (19,172 )
At 31 March 2023 12,555 1,249 17,683
NET BOOK VALUE
At 31 March 2023 15,395 188 24,208
At 31 March 2022 47,888 250 51,028

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

20232022
£ £

Trade debtors58,187122,681
Other debtors1,875570
Prepayments2,137416
62,199123,667

GLASSEAL ARCHITECTURAL LTD (REGISTERED NUMBER: 09454375)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

20232022
£ £

Bank loans and overdrafts (see note 10)7,9417,717
Hire purchase contracts (see note 11)-20,145
Trade creditors3,24248,959
Taxation and social security 37,99445,391
Accruals and deferred income4,15715,530
Other creditors10,4414,110
63,775141,852

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 8) 18,728 26,649
Hire purchase contracts - 3,577
18,728 30,226

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 7,941 7,717

Amounts falling due between two and five years:
Bank loans - 2-5 years 18,728 26,649

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts - 23,722

Hire purchase contracts are secured on the assets to which they relate.

GLASSEAL ARCHITECTURAL LTD (REGISTERED NUMBER: 09454375)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


10. CALLED UP SHARE CAPITAL

2023 2022
£ £
Allotted, issued and fully paid:

Number:

Class:
Nominal
value:

95 Ordinary 0.01 0.95 1.00
5 Ordinary A 0.01 0.05 -
1.00 1.00