UPCYCLED GLASS COMPANY C.I.C.

Company Registration Number:
13455195 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2023

Period of accounts

Start date: 1 July 2022

End date: 30 June 2023

UPCYCLED GLASS COMPANY C.I.C.

Contents of the Financial Statements

for the Period Ended 30 June 2023

Directors report
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

UPCYCLED GLASS COMPANY C.I.C.

Directors' report period ended 30 June 2023

The directors present their report with the financial statements of the company for the period ended 30 June 2023

Principal activities of the company

Manufacture and processing of other glass, including technical glassware.



Directors

The director shown below has held office during the whole of the period from
1 July 2022 to 30 June 2023

Ian Hankey


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
20 November 2023

And signed on behalf of the board by:
Name: Ian Hankey
Status: Director

UPCYCLED GLASS COMPANY C.I.C.

Balance sheet

As at 30 June 2023

Notes 2023 13 months to 30 June 2022


£

£
Called up share capital not paid: 100 100
Fixed assets
Tangible assets: 3 2,410 1,320
Total fixed assets: 2,410 1,320
Current assets
Cash at bank and in hand: 1,857 6,770
Total current assets: 1,857 6,770
Creditors: amounts falling due within one year: 4 ( 50 )
Net current assets (liabilities): 1,857 6,720
Total assets less current liabilities: 4,367 8,140
Accruals and deferred income: ( 479 ) ( 479 )
Total net assets (liabilities): 3,888 7,661
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 3,788 7,561
Total Shareholders' funds: 3,888 7,661

The notes form part of these financial statements

UPCYCLED GLASS COMPANY C.I.C.

Balance sheet statements

For the year ending 30 June 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 20 November 2023
and signed on behalf of the board by:

Name: Ian Hankey
Status: Director

The notes form part of these financial statements

UPCYCLED GLASS COMPANY C.I.C.

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:Office Equipment - 15% Reducing Balance

    Other accounting policies

    Going ConcernThe financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities

UPCYCLED GLASS COMPANY C.I.C.

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 2. Employees

    2023 13 months to 30 June 2022
    Average number of employees during the period 1 1

UPCYCLED GLASS COMPANY C.I.C.

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 July 2022 1,650 0 1,650
Additions 1,593 1,593
Disposals
Revaluations
Transfers
At 30 June 2023 1,650 1,593 3,243
Depreciation
At 1 July 2022 330 0 330
Charge for year 264 239 503
On disposals
Other adjustments
At 30 June 2023 594 239 833
Net book value
At 30 June 2023 1,056 1,354 2,410
At 30 June 2022 1,320 0 1,320

UPCYCLED GLASS COMPANY C.I.C.

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Creditors: amounts falling due within one year note

  13 months to 30 June 2022
  £
Other creditors 50
Total   50

COMMUNITY INTEREST ANNUAL REPORT

UPCYCLED GLASS COMPANY C.I.C.

Company Number: 13455195 (England and Wales)

Year Ending: 30 June 2023

Company activities and impact

Below are our short and medium goals for Upcycled Glass Company CIC. We are simply building a workshop and installing equipment and services in this financial year. The money in our account was raised through crowdfunding and will be carried forward into 2022-2023 to pay for the workshop build, equipment, and installation of services. *Glassblowing has been added to the ‘critically endangered’ category of the Heritage Crafts Association, mainly because the costs of running a workshop have become simply too expensive for existing SMEs and new start-ups. *UGC hopes to begin trading in the financial year 2022-2023. We are developing lots of exciting ideas and products which will be launched over the next few years. From environmentally friendly products to low-emission glassmaking equipment, UGC will be instrumental in creating a new way of working, with an environmentally and financially sustainable business model within the innovative local circular economy we are the community will benefit from a reduction in waste in the area. There is a major ecological problem in that, unlike container glass, end-of-life building glass cannot be recycled into glass products. Our community interest company will melt end-of-life building glass and process it into high-value art, design, and production glass currently valued at per tonne, and exclusively imported from the EU. There is no UK supplier of high-value glass. The natural ingredients we need to process the waste glass will be harvested on Brimpts Farm using methods and processes we have found in historical documentation and manuscripts dating from before the Industrial Revolution. This process uses bracken from Dartmoor, turning a nuisance to farmers into a valuable saleable material. As an added environmental impact, the sustainable removal of Bracken will naturally create new wildflower meadows. *Once we have proved our process, we will work to duplicate this methodology across the UK, kick-starting start-ups and a new sustainable glass sector. *Local people will benefit from the ability to attend courses and workshops designed to teach the endangered skill of glassblowing alongside new digital design technologies, which will transform these 'outdated' processes into the modern sustainable methods needed to tackle the environmental crisis. EK-forces, police, and the regional general public will benefit as our courses will also include well-being and mental health modules to aid in recovery or management of PTSD and behavioral disorders. *Regional glassmakers will benefit, as they will have an affordable place to hire to make work and train under the guidance of internationally known designers, glassmakers, and qualified teachers.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
20 November 2023

And signed on behalf of the board by:
Name: Mr Ian Hankey
Status: Director