IRIS Accounts Production v23.3.0.418 02441662 director 1.3.22 28.2.23 28.2.23 false true false false true false Ordinary 1.00000 A Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure024416622022-02-28024416622023-02-28024416622022-03-012023-02-28024416622021-02-28024416622021-03-012022-02-28024416622022-02-2802441662ns16:EnglandWales2022-03-012023-02-2802441662ns15:PoundSterling2022-03-012023-02-2802441662ns11:Director12022-03-012023-02-2802441662ns11:PrivateLimitedCompanyLtd2022-03-012023-02-2802441662ns11:SmallEntities2022-03-012023-02-2802441662ns11:AuditExemptWithAccountantsReport2022-03-012023-02-2802441662ns11:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2802441662ns11:SmallCompaniesRegimeForAccounts2022-03-012023-02-2802441662ns11:FullAccounts2022-03-012023-02-2802441662ns11:OrdinaryShareClass12022-03-012023-02-2802441662ns11:OrdinaryShareClass22022-03-012023-02-2802441662ns11:CompanySecretary12022-03-012023-02-2802441662ns11:RegisteredOffice2022-03-012023-02-2802441662ns6:CurrentFinancialInstruments2023-02-2802441662ns6:CurrentFinancialInstruments2022-02-2802441662ns6:ShareCapital2023-02-2802441662ns6:ShareCapital2022-02-2802441662ns6:RetainedEarningsAccumulatedLosses2023-02-2802441662ns6:RetainedEarningsAccumulatedLosses2022-02-2802441662ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-03-012023-02-2802441662ns6:PlantMachinery2022-03-012023-02-2802441662ns6:FurnitureFittings2022-03-012023-02-2802441662ns6:MotorVehicles2022-03-012023-02-2802441662ns6:LandBuildings2022-02-2802441662ns6:PlantMachinery2022-02-2802441662ns6:FurnitureFittings2022-02-2802441662ns6:MotorVehicles2022-02-2802441662ns6:LandBuildings2022-03-012023-02-2802441662ns6:LandBuildings2023-02-2802441662ns6:PlantMachinery2023-02-2802441662ns6:FurnitureFittings2023-02-2802441662ns6:MotorVehicles2023-02-2802441662ns6:LandBuildings2022-02-2802441662ns6:PlantMachinery2022-02-2802441662ns6:FurnitureFittings2022-02-2802441662ns6:MotorVehicles2022-02-2802441662ns6:CostValuation2022-02-2802441662ns6:WithinOneYearns6:CurrentFinancialInstruments2023-02-2802441662ns6:WithinOneYearns6:CurrentFinancialInstruments2022-02-2802441662ns6:DeferredTaxation2022-02-2802441662ns6:DeferredTaxation2022-03-012023-02-2802441662ns6:DeferredTaxation2023-02-2802441662ns11:OrdinaryShareClass12023-02-2802441662ns11:OrdinaryShareClass22023-02-2802441662ns6:RetainedEarningsAccumulatedLosses2022-02-2802441662ns6:RetainedEarningsAccumulatedLosses2022-03-012023-02-28
REGISTERED NUMBER: 02441662 (England and Wales)














Unaudited Financial Statements

For The Year Ended 28th February 2023

for

Glass Eels Limited

Glass Eels Limited (Registered number: 02441662)






Contents of the Financial Statements
For The Year Ended 28th February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

Glass Eels Limited

Company Information
For The Year Ended 28th February 2023







DIRECTOR: E J P Wood





SECRETARY: E J P Wood





REGISTERED OFFICE: 123 Hempsted Lane
Hempsted
Gloucester
Gloucestershire
GL2 5JY





REGISTERED NUMBER: 02441662 (England and Wales)





ACCOUNTANTS: Wildin (Accountants & Auditors) Ltd
Kings Buildings
Lydney
Gloucestershire
GL15 5HE

Glass Eels Limited (Registered number: 02441662)

Balance Sheet
28th February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 531,512 547,186
Investments 5 150 150
531,662 547,336

CURRENT ASSETS
Debtors 6 563,865 800,254
Cash at bank and in hand 1,642,923 1,468,739
2,206,788 2,268,993
CREDITORS
Amounts falling due within one year 7 1,342,394 1,260,117
NET CURRENT ASSETS 864,394 1,008,876
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,396,056

1,556,212

PROVISIONS FOR LIABILITIES 8 8,070 9,721
NET ASSETS 1,387,986 1,546,491

CAPITAL AND RESERVES
Called up share capital 9 1,500 1,500
Retained earnings 10 1,386,486 1,544,991
SHAREHOLDERS' FUNDS 1,387,986 1,546,491

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 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.

Glass Eels Limited (Registered number: 02441662)

Balance Sheet - continued
28th February 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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 19th May 2023 and were signed by:





E J P Wood - Director


Glass Eels Limited (Registered number: 02441662)

Notes to the Financial Statements
For The Year Ended 28th February 2023

1. STATUTORY INFORMATION

Glass Eels 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 comprises the sales to customers during the year.


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
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Glass Eels Limited (Registered number: 02441662)

Notes to the Financial Statements - continued
For The Year Ended 28th February 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st March 2022 558,616 239,692 889,268 127,905 1,815,481
Additions - - - 5,400 5,400
At 28th February 2023 558,616 239,692 889,268 133,305 1,820,881
DEPRECIATION
At 1st March 2022 63,922 216,291 882,318 105,764 1,268,295
Charge for year 9,131 4,680 1,390 5,873 21,074
At 28th February 2023 73,053 220,971 883,708 111,637 1,289,369
NET BOOK VALUE
At 28th February 2023 485,563 18,721 5,560 21,668 531,512
At 28th February 2022 494,694 23,401 6,950 22,141 547,186

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st March 2022
and 28th February 2023 150
NET BOOK VALUE
At 28th February 2023 150
At 28th February 2022 150

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 404,072 627,782
Tax - 40,118
VAT 8,202 6,087
Prepayments & Other Debtors 151,591 126,267
563,865 800,254

Glass Eels Limited (Registered number: 02441662)

Notes to the Financial Statements - continued
For The Year Ended 28th February 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 46,604 26,651
Amounts owed to group undertakings 540,468 540,468
Directors' current accounts 455,450 456,050
Accrued expenses 299,872 236,948
1,342,394 1,260,117

8. PROVISIONS FOR LIABILITIES
28.2.23 28.2.22
£    £   
Deferred tax 8,070 9,721

Deferred
tax
£   
Balance at 1st March 2022 9,721
Credit to Income Statement during year (1,651 )
Balance at 28th February 2023 8,070

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
750 Ordinary £1 750 750
750 A Ordinary £1 750 750
1,500 1,500

10. RESERVES
Retained
earnings
£   

At 1st March 2022 1,544,991
Deficit for the year (158,505 )
At 28th February 2023 1,386,486

11. RELATED PARTY DISCLOSURES

There was £540,468 (2022 £540,468) due by the company to Bristol Channel Fisheries Ltd at the year end.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is E J P Wood.

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
Glass Eels Limited

The following reproduces the text of the report prepared for the director 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 Director 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 Glass Eels Limited for the year ended 28th February 2023 which comprise the Income Statement, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Glass Eels Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Glass Eels Limited and state those matters that we have agreed to state to the director of Glass Eels Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Glass Eels 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 loss of Glass Eels Limited. You consider that Glass Eels 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 Glass Eels 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.






Wildin (Accountants & Auditors) Ltd
Kings Buildings
Lydney
Gloucestershire
GL15 5HE


Date: 19th May 2023