Arctic Glazing Ltd 04273044 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is the manufacturing and installation of double glazing. Digita Accounts Production Advanced 6.30.9574.0 true true 04273044 2022-09-01 2023-08-31 04273044 2023-08-31 04273044 core:CurrentFinancialInstruments 2023-08-31 04273044 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 04273044 core:Non-currentFinancialInstruments 2023-08-31 04273044 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 04273044 core:FurnitureFittingsToolsEquipment 2023-08-31 04273044 core:MotorVehicles 2023-08-31 04273044 bus:SmallEntities 2022-09-01 2023-08-31 04273044 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 04273044 bus:FullAccounts 2022-09-01 2023-08-31 04273044 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 04273044 bus:RegisteredOffice 2022-09-01 2023-08-31 04273044 bus:Director1 2022-09-01 2023-08-31 04273044 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 04273044 core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 04273044 core:MotorVehicles 2022-09-01 2023-08-31 04273044 core:Vehicles 2022-09-01 2023-08-31 04273044 core:UKTax 2022-09-01 2023-08-31 04273044 countries:England 2022-09-01 2023-08-31 04273044 2022-08-31 04273044 core:FurnitureFittingsToolsEquipment 2022-08-31 04273044 core:MotorVehicles 2022-08-31 04273044 2021-09-01 2022-08-31 04273044 2022-08-31 04273044 core:CurrentFinancialInstruments 2022-08-31 04273044 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 04273044 core:Non-currentFinancialInstruments 2022-08-31 04273044 core:Non-currentFinancialInstruments core:AfterOneYear 2022-08-31 04273044 core:FurnitureFittingsToolsEquipment 2022-08-31 04273044 core:MotorVehicles 2022-08-31 04273044 core:UKTax 2021-09-01 2022-08-31 iso4217:GBP xbrli:pure

Registration number: 04273044

Arctic Glazing Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Arctic Glazing Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Arctic Glazing Ltd

(Registration number: 04273044)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

7,963

10,618

Current assets

 

Debtors

6

79,875

84,689

Cash at bank and in hand

 

16,512

14,368

 

96,387

99,057

Creditors: Amounts falling due within one year

7

(17,850)

(26,224)

Net current assets

 

78,537

72,833

Total assets less current liabilities

 

86,500

83,451

Creditors: Amounts falling due after more than one year

7

(58,953)

(64,146)

Net assets

 

27,547

19,305

Capital and reserves

 

Called up share capital

1

1

Retained earnings

27,546

19,304

Shareholders' funds

 

27,547

19,305

For the financial year ending 31 August 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.

 

Arctic Glazing Ltd

(Registration number: 04273044)
Balance Sheet as at 31 August 2023

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 8 March 2024
 

.........................................
J Karayiannis
Director

 

Arctic Glazing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

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

The address of its registered office is:
Woodgate Studios
2-8 Games Road
Cockfosters
Hertfordshire
EN4 9HN
England

These financial statements were authorised for issue by the director on 8 March 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.

The accounts are prepared in the company's functional currency of British Pounds (£) and rounded to the nearest £1.

Going concern

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

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.

 

Arctic Glazing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Tax

The tax expense for the period comprises current 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.

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% Reducing balance method

Fixtures, Fittings and equipment

25% Reducing balance method

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

Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Trade creditors

Creditors with no stated interest rate and payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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.

 

Arctic Glazing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

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 1 (2022 - 1).

4

Taxation

Tax charged/(credited) in the profit and loss account

2023
£

2022
£

UK corporation tax

1,832

(2,244)

 

Arctic Glazing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2022

4,655

13,000

17,655

At 31 August 2023

4,655

13,000

17,655

Depreciation

At 1 September 2022

3,787

3,250

7,037

Charge for the year

217

2,438

2,655

At 31 August 2023

4,004

5,688

9,692

Carrying amount

At 31 August 2023

651

7,312

7,963

At 31 August 2022

868

9,750

10,618

6

Debtors

Current

2023
£

2022
£

Other debtors

79,875

84,689

79,875

84,689

 

Arctic Glazing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

4,699

4,699

Taxation and social security

 

2,928

-

Accruals and deferred income

 

3,564

3,564

Other creditors

 

6,659

17,961

 

17,850

26,224

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

11,473

16,385

Other non-current financial liabilities

 

47,480

47,761

 

58,953

64,146

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

11,473

16,385

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,699

4,699