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Registered Number: 07180411
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 March 2023

for

PRO GLAZE WINDOWS DOORS & CONSERVATORIES LIMITED

Directors Mr D R Wasey
Mrs A M Wasey
Registered Number 07180411
Registered Office 101 Rownhams Road
Maybush
Southampton
Hampshire
SO16 5EB
Accountants Numeric Accounting Limited
Chartered Certified Accountants
Suite 1, The Portway Centre,
Old Sarum Park, Old Sarum
Salisbury
SP4 6EB
Secretary Mrs A M Wasey
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 219,901    204,068 
219,901    204,068 
Current assets      
Stocks 5 19,437    51,334 
Debtors: amounts falling due within one year 6 61,158    155,867 
Cash at bank and in hand 74,786    114,463 
155,381    321,664 
Creditors: amount falling due within one year 7 (153,484)   (232,923)
Net current assets 1,897    88,741 
 
Total assets less current liabilities 221,798    292,809 
Creditors: amount falling due after more than one year 8 (77,304)   (80,837)
Provisions for liabilities 9 (13,322)   (10,314)
Net assets 131,172    201,658 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 131,170    201,656 
Shareholder's funds 131,172    201,658 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 21 November 2023 and were signed on its behalf by:


-------------------------------
Mrs A M Wasey
Director
-------------------------------
Mr D R Wasey
Director
2
General Information
Pro Glaze Windows Doors & Conservatories Limited is a private company, limited by shares, registered in England and Wales, registration number 07180411, registration address 101 Rownhams Road, Maybush, Southampton, Hampshire, SO16 5EB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Cost of sales
The cost of sales is the accumulated total of all costs used to create a product or service, which has been sold.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
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 taxation
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.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised
evenly over its estimated useful life of ten years.
Tangible fixed assets
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:
Plant and Machinery 15% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 33% Reducing Balance
Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
Financial instruments
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.
2.

Average number of employees

Average number of employees during the year was 12 (2022 : 15).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2022 20,000    20,000 
Additions  
Disposals  
At 31 March 2023 20,000    20,000 
Amortisation
At 01 April 2022 20,000    20,000 
Charge for year  
On disposals  
At 31 March 2023 20,000    20,000 
Net book values
At 31 March 2023  
At 31 March 2022  


4.

Tangible fixed assets

Cost or valuation Freehold property   Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 April 2022 149,783    74,150    1,999    12,780    238,712 
Additions   27,116    950    551    28,617 
Disposals   (7,000)       (7,000)
At 31 March 2023 149,783    94,266    2,949    13,331    260,329 
Depreciation
At 01 April 2022   24,673    1,044    8,927    34,644 
Charge for year   9,408    254    1,415    11,077 
On disposals   (5,293)       (5,293)
At 31 March 2023   28,788    1,298    10,342    40,428 
Net book values
Closing balance as at 31 March 2023 149,783    65,478    1,651    2,989    219,901 
Opening balance as at 01 April 2022 149,783    49,477    955    3,853    204,068 


5.

Stocks

2023
£
  2022
£
Stocks 19,437    51,334 
19,437    51,334 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 58,218    153,001 
Prepayments & Accrued Income 2,940    2,866 
61,158    155,867 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 27,551    27,920 
Bank Loans & Overdrafts 3,923    3,923 
Corporation Tax   32,935 
PAYE and NIC 4,076    4,670 
Deferred income 42,923    86,698 
Other Creditors 1,005    1,502 
Directors' Current Accounts 46,805    28,805 
VAT 27,201    46,470 
153,484    232,923 

8.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 4,270    4,270 
Bank loans - 2-5 years 12,810    12,810 
Bank loans more 5 yr by instal 60,224    63,757 
77,304    80,837 

9.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 13,322    10,314 
13,322    10,314 

10.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Mr D R Wasey & Mrs A M Wasey(46,805)(28,805)

The loan is interest free with no fixed date of repayment
11.

Dividend

During the year, total dividends of £82,200 (2022 - £83,582) were paid to the directors.
3