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REGISTERED NUMBER: 02783462 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

KLG AMAZING GLAZING LIMITED

KLG AMAZING GLAZING LIMITED (REGISTERED NUMBER: 02783462)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KLG AMAZING GLAZING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







Directors: Mr K L Greenfield
Mr G K Handford
Mrs S Radford
Mr T E Hill
Mr C Greenfield
Ms S Greenfield





Secretary: Mrs S Radford





Registered office: 10 Stadium Business Court
Millennium Way
Pride Park
Derby
DE24 8HP





Registered number: 02783462 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
10 Stadium Business Court
Millennium Way
Pride Park
Derby
DE24 8HP

KLG AMAZING GLAZING LIMITED (REGISTERED NUMBER: 02783462)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £ £
Fixed assets
Tangible assets 4 439,677 234,780
Investments 5 1,001 1,001
440,678 235,781

Current assets
Stocks 409,688 542,454
Debtors 6 161,740 279,602
Cash at bank and in hand 934,961 730,368
1,506,389 1,552,424
Creditors
Amounts falling due within one year 7 (676,843 ) (780,249 )
Net current assets 829,546 772,175
Total assets less current liabilities 1,270,224 1,007,956

Creditors
Amounts falling due after more than one
year

8

(169,456

)

(207,900

)

Provisions for liabilities (87,308 ) (33,578 )
Net assets 1,013,460 766,478

Capital and reserves
Called up share capital 11 698 711
Share premium 21,600 21,600
Capital redemption reserve 333 320
Retained earnings 990,829 743,847
Shareholders' funds 1,013,460 766,478

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.

KLG AMAZING GLAZING LIMITED (REGISTERED NUMBER: 02783462)

BALANCE SHEET - continued
30 JUNE 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 by the Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by:





Mr K L Greenfield - Director


KLG AMAZING GLAZING LIMITED (REGISTERED NUMBER: 02783462)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

KLG Amazing Glazing 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.

Consolidation
In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and tools - 25% on cost
Showroom equipment - 25% on cost
Motor vehicles - 25% on cost
Office equipment & computers - 25% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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 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.


KLG AMAZING GLAZING LIMITED (REGISTERED NUMBER: 02783462)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 26 (2022 - 28 ) .

4. TANGIBLE FIXED ASSETS
Office
Plant and Showroom Motor equipment &
tools equipment vehicles computers Totals
£ £ £ £ £
Cost
At 1 July 2022 475,035 266,053 179,415 150,272 1,070,775
Additions 253,575 30,773 75,176 5,938 365,462
Disposals (253,833 ) - (53,910 ) - (307,743 )
At 30 June 2023 474,777 296,826 200,681 156,210 1,128,494
Depreciation
At 1 July 2022 383,556 246,798 72,927 132,714 835,995
Charge for year 92,041 17,944 30,359 9,080 149,424
Eliminated on disposal (247,183 ) - (49,419 ) - (296,602 )
At 30 June 2023 228,414 264,742 53,867 141,794 688,817
Net book value
At 30 June 2023 246,363 32,084 146,814 14,416 439,677
At 30 June 2022 91,479 19,255 106,488 17,558 234,780

KLG AMAZING GLAZING LIMITED (REGISTERED NUMBER: 02783462)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. TANGIBLE FIXED ASSETS - continued

Included within the net book value of £439,677 is £232,094 (2022: £62,594) relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounted to £70,500 (2022: £25,500)

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
Cost
At 1 July 2022
and 30 June 2023 1,001
Net book value
At 30 June 2023 1,001
At 30 June 2022 1,001

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 120,618 230,927
Other debtors 2,436 2,226
Prepayments and accrued income 38,686 46,449
161,740 279,602

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans 9,701 19,431
Hire purchase contracts (see note 9) 55,728 17,328
Trade creditors 258,645 256,259
Tax 74,620 77,417
Social security and other taxes 31,987 25,763
VAT 106,949 143,063
Other creditors 27,364 54,522
Directors' loan accounts 2,024 2,100
Accruals and deferred income 109,825 184,366
676,843 780,249

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans - 2-5 years 22,664 71,290
Bank loans more 5 yr by instal - 94,067
Hire purchase contracts (see note 9) 146,792 42,543
169,456 207,900

KLG AMAZING GLAZING LIMITED (REGISTERED NUMBER: 02783462)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£ £
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 94,067

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£ £
Net obligations repayable:
Within one year 55,728 17,328
Between one and five years 146,792 42,543
202,520 59,871

Non-cancellable
operating leases
2023 2022
£ £
Within one year 99,500 119,500
Between one and five years - 29,500
99,500 149,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Hire purchase contracts 202,520 59,871
Loan - 142,714
202,520 202,585

KLG AMAZING GLAZING LIMITED (REGISTERED NUMBER: 02783462)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully
paid


Number: Class: Nominal 2023 2022
Value: £    £   

353 Ordinary C £1 353 353
112 Ordinary A £1 112 112
112 Ordinary D £1 112 112
26 Ordinary E £1 26 26
26 Ordinary F £1 26 26
26 Ordinary G £1 26 26
13 Ordinary H £1 13 26
30 Ordinary I £1 30 30


During the year, 13 Ordinary H shares were purchased for cancellation for an aggregate amount of £9,451.

12. RELATED PARTY DISCLOSURES

The company owns 100% of the issued share capital of Rutland Windows Limited and Stormshield Windows Limited, both of which are registered in England.


20232022
£   £   
Aggregate capital and reserves
Rutland Windows Limited 11
Stormshield Windows Limited 2,4292,429

Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.