Company Registration No. 10661835 (England and Wales)
Out Of Glass Limited
Unaudited accounts
for the year ended 31 March 2023
Out Of Glass Limited
Unaudited accounts
Contents
Out Of Glass Limited
Company Information
for the year ended 31 March 2023
Company Number
10661835 (England and Wales)
Registered Office
50 Fernwood Rise
Brighton
BN1 5EP
United Kingdom
Accountants
Capital Talks LLP
Accountants & Tax consultants
310D - EW Sterling House
Langston Road
Loughton
IG10 3TS
Out Of Glass Limited
Statement of financial position
as at 31 March 2023
Cash at bank and in hand
35,332
35,054
Creditors: amounts falling due within one year
(34,888)
(12,102)
Net current assets
20,009
39,964
Total assets less current liabilities
21,770
40,591
Creditors: amounts falling due after more than one year
-
(27,843)
Called up share capital
1
1
Profit and loss account
21,769
12,747
Shareholders' funds
21,770
12,748
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 December 2023 and were signed on its behalf by
Sarah Jeffreys
Director
Company Registration No. 10661835
Out Of Glass Limited
Notes to the Accounts
for the year ended 31 March 2023
Out Of Glass Limited is a private company, limited by shares, registered in England and Wales, registration number 10661835. The registered office is 50 Fernwood Rise, Brighton, BN1 5EP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Out Of Glass Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery
Amounts falling due within one year
Other debtors
14,229
13,670
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
28,021
10,200
Taxes and social security
2,506
4,634
Loans from directors
-
(6,586)
7
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
The director Sarah Jeffreys controls the company as a result of controlling directly 100% of the issued share capital.
Out Of Glass Limited
Notes to the Accounts
for the year ended 31 March 2023
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).