IRIS Accounts Production v23.1.5.20 03755671 Board of Directors 1.7.22 30.6.23 30.6.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh037556712022-06-30037556712023-06-30037556712022-07-012023-06-30037556712021-06-30037556712021-07-012022-06-30037556712022-06-3003755671ns15:EnglandWales2022-07-012023-06-3003755671ns14:PoundSterling2022-07-012023-06-3003755671ns10:Director12022-07-012023-06-3003755671ns10:PrivateLimitedCompanyLtd2022-07-012023-06-3003755671ns10:SmallEntities2022-07-012023-06-3003755671ns10:AuditExemptWithAccountantsReport2022-07-012023-06-3003755671ns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3003755671ns10:SmallCompaniesRegimeForAccounts2022-07-012023-06-3003755671ns10:FullAccounts2022-07-012023-06-3003755671ns10:Director22022-07-012023-06-3003755671ns10:CompanySecretary12022-07-012023-06-3003755671ns10:RegisteredOffice2022-07-012023-06-3003755671ns5:CurrentFinancialInstruments2023-06-3003755671ns5:CurrentFinancialInstruments2022-06-3003755671ns5:Non-currentFinancialInstruments2023-06-3003755671ns5:Non-currentFinancialInstruments2022-06-3003755671ns5:ShareCapital2023-06-3003755671ns5:ShareCapital2022-06-3003755671ns5:CapitalRedemptionReserve2023-06-3003755671ns5:CapitalRedemptionReserve2022-06-3003755671ns5:RetainedEarningsAccumulatedLosses2023-06-3003755671ns5:RetainedEarningsAccumulatedLosses2022-06-3003755671ns5:OwnedOrFreeholdAssetsns5:LandBuildings2022-07-012023-06-3003755671ns5:LeaseholdImprovements2022-07-012023-06-3003755671ns5:PlantMachinery2022-07-012023-06-3003755671ns5:FurnitureFittings2022-07-012023-06-3003755671ns5:MotorVehicles2022-07-012023-06-3003755671ns5:ComputerEquipment2022-07-012023-06-3003755671ns5:LandBuildings2022-06-3003755671ns5:LeaseholdImprovements2022-06-3003755671ns5:PlantMachinery2022-06-3003755671ns5:LandBuildings2022-07-012023-06-3003755671ns5:LandBuildings2023-06-3003755671ns5:LeaseholdImprovements2023-06-3003755671ns5:PlantMachinery2023-06-3003755671ns5:LandBuildings2022-06-3003755671ns5:LeaseholdImprovements2022-06-3003755671ns5:PlantMachinery2022-06-3003755671ns5:FurnitureFittings2022-06-3003755671ns5:MotorVehicles2022-06-3003755671ns5:ComputerEquipment2022-06-3003755671ns5:FurnitureFittings2023-06-3003755671ns5:MotorVehicles2023-06-3003755671ns5:ComputerEquipment2023-06-3003755671ns5:FurnitureFittings2022-06-3003755671ns5:MotorVehicles2022-06-3003755671ns5:ComputerEquipment2022-06-3003755671ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3003755671ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3003755671ns5:Secured2023-06-3003755671ns5:Secured2022-06-30
REGISTERED NUMBER: 03755671 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 June 2023

for

A J Glassfibre Limited

A J Glassfibre Limited (Registered number: 03755671)






Contents of the Financial Statements
for the year ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Accountants' Report 6

A J Glassfibre Limited

Company Information
for the year ended 30 June 2023







DIRECTORS: A J Mallinson
Mrs H K Mallinson





SECRETARY: A J Mallinson





REGISTERED OFFICE: 8 Navigation Court
Calder Park
Wakefield
West Yorkshire
WF2 7BJ





REGISTERED NUMBER: 03755671 (England and Wales)





ACCOUNTANTS: Beaumonts
8 Navigation Court
Calder Park
Wakefield
West Yorkshire
WF2 7BJ

A J Glassfibre Limited (Registered number: 03755671)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 565,649 538,054

CURRENT ASSETS
Stocks 193,895 285,187
Debtors 5 774,444 858,407
Cash at bank 682 41,073
969,021 1,184,667
CREDITORS
Amounts falling due within one year 6 801,261 1,048,124
NET CURRENT ASSETS 167,760 136,543
TOTAL ASSETS LESS CURRENT
LIABILITIES

733,409

674,597

CREDITORS
Amounts falling due after more than one
year

7

(136,281

)

(176,352

)

PROVISIONS FOR LIABILITIES (22,915 ) (19,379 )
NET ASSETS 574,213 478,866

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 100 100
Retained earnings 574,013 478,666
SHAREHOLDERS' FUNDS 574,213 478,866

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2023 and were signed on its behalf by:




A J Mallinson - Director


A J Glassfibre Limited (Registered number: 03755671)

Notes to the Financial Statements
for the year ended 30 June 2023

1. STATUTORY INFORMATION

A J Glassfibre 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 sales of glassfibre and other laminated products, excluding value added tax and discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 2% on cost
Plant and machinery - 33% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 50% on cost

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 Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2022 - 45 ) .

A J Glassfibre Limited (Registered number: 03755671)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 July 2022 597,346 8,488 147,213
Additions - - 55,453
Disposals - - (21,144 )
At 30 June 2023 597,346 8,488 181,522
DEPRECIATION
At 1 July 2022 146,513 1,372 119,961
Charge for year 11,947 169 26,739
Eliminated on disposal - - (20,777 )
At 30 June 2023 158,460 1,541 125,923
NET BOOK VALUE
At 30 June 2023 438,886 6,947 55,599
At 30 June 2022 450,833 7,116 27,252

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 6,101 116,078 13,079 888,305
Additions - 42,264 - 97,717
Disposals - (31,558 ) - (52,702 )
At 30 June 2023 6,101 126,784 13,079 933,320
DEPRECIATION
At 1 July 2022 5,149 69,958 7,298 350,251
Charge for year 238 25,872 4,790 69,755
Eliminated on disposal - (31,558 ) - (52,335 )
At 30 June 2023 5,387 64,272 12,088 367,671
NET BOOK VALUE
At 30 June 2023 714 62,512 991 565,649
At 30 June 2022 952 46,120 5,781 538,054

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 646,238 739,508
Other debtors 128,206 118,899
774,444 858,407

A J Glassfibre Limited (Registered number: 03755671)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 46,855 49,618
Hire purchase contracts 15,777 3,834
Trade creditors 296,096 384,983
Taxation and social security 156,853 117,905
Other creditors 285,680 491,784
801,261 1,048,124

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans 117,367 174,754
Hire purchase contracts 18,914 1,598
136,281 176,352

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank loans 164,222 224,372
Hire purchase contracts 34,691 5,432
198,913 229,804

The amount due to the factoring company is secured on certain trade debtors of the company.
The bank loan is secured on all assets of the company.

9. RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £64,650 (2022 - £64,650) by A J Mallinson a director. The company has not charged interest on this loan.

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
A J Glassfibre Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A J Glassfibre Limited for the year ended 30 June 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of A J Glassfibre Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of A J Glassfibre Limited and state those matters that we have agreed to state to the Board of Directors of A J Glassfibre Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A J Glassfibre Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that A J Glassfibre Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of A J Glassfibre Limited. You consider that A J Glassfibre Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of A J Glassfibre Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Beaumonts
8 Navigation Court
Calder Park
Wakefield
West Yorkshire
WF2 7BJ


13 November 2023