REGISTERED NUMBER: 00080479 (England and Wales)

Financial Statements for the Year Ended 31st July 2023

for

STANDARD PATENT GLAZING COMPANY

LIMITED(THE)

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D P Lister

Mr J J J Llewellyn

Mr C J Riley

SECRETARY:

Harrison Blakeley Accountancy Limited

REGISTERED OFFICE:

Flagship House, Forge Lane

Dewsbury

West Yorkshire

WF12 9EL

REGISTERED NUMBER:

00080479 (England and Wales)

SENIOR STATUTORY AUDITOR:

John Richard Hall FCA

AUDITORS:

Walter Dawson & Son

1st Floor, Unit 12

Pennine Business Park

Longbow Close, Bradley

Huddersfield

HD2 1GQ

FIXED ASSETS

Tangible assets

4

257,399

211,072

CURRENT ASSETS

Stocks

5

744,263

796,414

Debtors

6

490,921

660,973

Cash at bank and in hand

783,706

331,745

2,018,890

1,789,132

CREDITORS

Amounts falling due within one year

7

361,773

266,952

NET CURRENT ASSETS

1,657,117

1,522,180

TOTAL ASSETS LESS CURRENT LIABILITIES

1,914,516

1,733,252

CREDITORS

Amounts falling due after more than one year

8

(63,588

)

(10,000

)

PROVISIONS FOR LIABILITIES

(53,301

)

(39,283

)

NET ASSETS

1,797,627

1,683,969

CAPITAL AND RESERVES

Called up share capital

15,500

15,500

Share premium

1,000

1,000

Capital redemption reserve

1,630

1,630

Retained earnings

1,779,497

1,665,839

1,797,627

1,683,969

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 by the Board of Directors and authorised for issue on 15th December 2023 and were signed on its behalf by:

Mr J J J Llewellyn - Director

Mr C J Riley - Director

1.	STATUTORY INFORMATION

Standard Patent Glazing Company Limited(the) 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 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 the cost less estimated residual value of each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on 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.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Income recognition

Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them.

Hire purchase and leasing commitments

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the leases. The benefits of lease incentives are recognised in the profit and loss account over the lease period on a straight line basis.

Government grants

Grants receivable in relation to profit and loss expenditure are credited to the profit and loss for the year for which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1st August 2022

33,974

408,048

210,776

150,300

803,098

Additions

-

63,309

-

52,490

115,799

Disposals

-

(5,000

)

-

-

(5,000

)

At 31st July 2023

33,974

466,357

210,776

202,790

913,897

DEPRECIATION

At 1st August 2022

29,655

297,078

183,842

81,451

592,026

Charge for year

612

36,131

6,733

24,414

67,890

Eliminated on disposal

-

(3,418

)

-

-

(3,418

)

At 31st July 2023

30,267

329,791

190,575

105,865

656,498

NET BOOK VALUE

At 31st July 2023

3,707

136,566

20,201

96,925

257,399

At 31st July 2022

4,319

110,970

26,934

68,849

211,072

5.

STOCKS

31/7/23

31/7/22

£

£

Stocks

606,946

643,646

Work-in-progress

137,317

152,768

744,263

796,414

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/23

31/7/22

£

£

Trade debtors

320,444

501,512

Other debtors

170,477

159,461

490,921

660,973

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/23

31/7/22

£

£

Trade creditors

105,996

96,958

Taxation and social security

157,657

96,928

Other creditors

98,120

73,066

361,773

266,952

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/7/23

31/7/22

£

£

Other creditors

63,588

10,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

3% Redeemable Participating Preference Shares

(10,000 shares)

10,000

10,000

6% Cumulative Redeemable Preference Shares

53,588

-

(42,870 shares)

63,588

10,000

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/7/23

31/7/22

£

£

Within one year

2,053

344

Between one and five years

2,907

-

4,960

344

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Richard Hall FCA (Senior Statutory Auditor)

for and on behalf of Walter Dawson & Son