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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
Page
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Out Of Glass Limited Company Information for the year ended 31 March 2023
Director
Sarah Jeffreys
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
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Out Of Glass Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,761 
627 
Current assets
Inventories
5,336 
3,342 
Debtors
14,229 
13,670 
Cash at bank and in hand
35,332 
35,054 
54,897 
52,066 
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)
Net assets
21,770 
12,748 
Capital and reserves
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
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Out Of Glass Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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:
Plant & machinery
25%
Inventories
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
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.
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Out Of Glass Limited Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 April 2022
29,161 
Additions
2,349 
At 31 March 2023
31,510 
Depreciation
At 1 April 2022
28,534 
Charge for the year
1,215 
At 31 March 2023
29,749 
Net book value
At 31 March 2023
1,761 
At 31 March 2022
627 
5
Debtors
2023 
2022 
£ 
£ 
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 
VAT
3,128 
2,683 
Trade creditors
888 
846 
Taxes and social security
2,506 
4,634 
Loans from directors
- 
(6,586)
Accruals
345 
325 
34,888 
12,102 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
- 
27,843 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Loans to directors
The director Sarah Jeffreys controls the company as a result of controlling directly 100% of the issued share capital.
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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).
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