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REGISTERED NUMBER: 08905870 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

K R GLASS FIBRE LIMITED

K R GLASS FIBRE LIMITED (REGISTERED NUMBER: 08905870)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K R GLASS FIBRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: Ms S Pinkerton





REGISTERED OFFICE: Lake Lodge
The Street
Wissett
Halesworth
Suffolk
IP19 0JH





REGISTERED NUMBER: 08905870 (England and Wales)





ACCOUNTANTS: Wilson Devenish
67 Newland Street
Witham
Essex
CM8 1AA

K R GLASS FIBRE LIMITED (REGISTERED NUMBER: 08905870)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,776 18,675

CURRENT ASSETS
Stocks 35,000 35,000
Debtors 5 57,148 54,145
Cash at bank and in hand 132 2,212
92,280 91,357
CREDITORS
Amounts falling due within one year 6 226,231 198,663
NET CURRENT LIABILITIES (133,951 ) (107,306 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(118,175

)

(88,631

)

CREDITORS
Amounts falling due after more than one
year

7

40,490

40,000
NET LIABILITIES (158,665 ) (128,631 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (158,765 ) (128,731 )
(158,665 ) (128,631 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

K R GLASS FIBRE LIMITED (REGISTERED NUMBER: 08905870)

BALANCE SHEET - continued
28 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 by the director and authorised for issue on 25 January 2024 and were signed by:





Ms S Pinkerton - Director


K R GLASS FIBRE LIMITED (REGISTERED NUMBER: 08905870)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

K R Glass Fibre 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 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.
Plant and machinery etc - 33% on cost and 15% 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.

Hire purchase and leasing commitments
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.

K R GLASS FIBRE LIMITED (REGISTERED NUMBER: 08905870)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022
and 28 February 2023 31,892
DEPRECIATION
At 1 March 2022 13,217
Charge for year 2,899
At 28 February 2023 16,116
NET BOOK VALUE
At 28 February 2023 15,776
At 28 February 2022 18,675

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 57,148 54,145

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 11,197 10,430
Trade creditors 73,216 91,465
Taxation and social security 130,015 91,579
Other creditors 11,803 5,189
226,231 198,663

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 40,490 40,000

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 11,197 10,430

K R GLASS FIBRE LIMITED (REGISTERED NUMBER: 08905870)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

8. LOANS - continued
2023 2022
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 40,490 40,000

At 28 February 2023, the company has a Factoring loan of £8,621 outstanding (2022: £8,621), which is secured by way of a floating charge over the assets of the company.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 10,870 -

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
Ms S Pinkerton
Balance outstanding at start of year (96 ) -
Amounts advanced (5,633 ) (96 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,729 ) (96 )

This loan is interest free and repayable on demand.