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Registration number: 09673697

Barnsley Glass (2015) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Barnsley Glass (2015) Limited

Company Information

Director

S M Pearce

Registered office

Brinkman Street
Barnsley
South Yorkshire
S70 1JF

 

Barnsley Glass (2015) Limited

(Registration number: 09673697)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

666

916

Tangible assets

5

2,606

3,302

 

3,272

4,218

Current assets

 

Stocks

6

4,806

5,862

Debtors

7

3,588

10,351

Cash at bank and in hand

 

13,539

18,392

 

21,933

34,605

Creditors: Amounts falling due within one year

8

(24,938)

(26,247)

Net current (liabilities)/assets

 

(3,005)

8,358

Total assets less current liabilities

 

267

12,576

Provisions for liabilities

(495)

(627)

Net (liabilities)/assets

 

(228)

11,949

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(230)

11,947

Shareholders' (deficit)/funds

 

(228)

11,949

 

Barnsley Glass (2015) Limited

(Registration number: 09673697)
Balance Sheet as at 30 September 2023

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 April 2024
 

.........................................
S M Pearce
Director

 

Barnsley Glass (2015) Limited

Statement of Changes in Equity for the Year Ended 30 September 2023

Share capital
£

Retained earnings
£

Total
£

At 1 October 2022

2

11,947

11,949

Loss for the year

-

(11,177)

(11,177)

Dividends

-

(1,000)

(1,000)

At 30 September 2023

2

(230)

(228)

Share capital
£

Retained earnings
£

Total
£

At 1 October 2021

2

16,738

16,740

Loss for the year

-

(1,791)

(1,791)

Dividends

-

(3,000)

(3,000)

At 30 September 2022

2

11,947

11,949

 

Barnsley Glass (2015) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Brinkman Street
Barnsley
South Yorkshire
S70 1JF

These financial statements were authorised for issue by the director on 3 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

The company has net liabilities. The financial statements have been prepared on the going concern basis which assumes the company will continue to exist for the foreseeable future. This is dependent on the continued support of the directors, who has indicated that amounts due to them will not be withdrawn.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Barnsley Glass (2015) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% on reducing balance

Fixtures & fittings

15% on reducing balance

Plant & machinery

15% on reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

over 10 years

 

Barnsley Glass (2015) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Barnsley Glass (2015) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 3).

 

Barnsley Glass (2015) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2022

2,500

2,500

At 30 September 2023

2,500

2,500

Amortisation

At 1 October 2022

1,584

1,584

Amortisation charge

250

250

At 30 September 2023

1,834

1,834

Carrying amount

At 30 September 2023

666

666

At 30 September 2022

916

916

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2022

622

837

9,515

10,974

Additions

62

-

-

62

At 30 September 2023

684

837

9,515

11,036

Depreciation

At 1 October 2022

229

522

6,921

7,672

Charge for the year

62

47

649

758

At 30 September 2023

291

569

7,570

8,430

Carrying amount

At 30 September 2023

393

268

1,945

2,606

At 30 September 2022

393

315

2,594

3,302

 

Barnsley Glass (2015) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

6

Stocks

2023
£

2022
£

Other inventories

4,806

5,862

7

Debtors

Current

2023
£

2022
£

Trade debtors

2,605

5,663

Prepayments

983

3,726

Other debtors

-

962

 

3,588

10,351

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

6,000

6,000

Trade creditors

 

12,932

13,580

Taxation and social security

 

3,666

4,362

Accruals and deferred income

 

2,075

2,063

Other creditors

 

265

242

 

24,938

26,247

 

Barnsley Glass (2015) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

6,000

6,000

10

Related party transactions

Transactions with the director

2023

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 30 September 2023
£

S M Pearce

962

33

(1,000)

(5)

         
       

 

2022

At 1 October 2021
£

Advances to director
£

Repayments by director
£

At 30 September 2022
£

S M Pearce

-

3,962

(3,000)

962

         
       

 

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

20,680

19,679

Contributions paid to money purchase schemes

621

591

21,301

20,270