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Registration number: 08516705

Architectural Glazing Parts Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 29 April 2023

 

Architectural Glazing Parts Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Architectural Glazing Parts Limited

Company Information

Director

Mr J Parker

Registered office

The Mill Pury Hill Business Park
Alderton Road
Towcester
Northants
NN12 7LS

Accountants

KRW Accountants Ltd
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

 

Architectural Glazing Parts Limited

(Registration number: 08516705)
Balance Sheet as at 29 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

6,469

8,768

Current assets

 

Stocks

5

-

69,997

Debtors

6

137,329

135,622

Cash at bank and in hand

 

39,852

25,421

 

177,181

231,040

Creditors: Amounts falling due within one year

7

(134,392)

(194,017)

Net current assets

 

42,789

37,023

Total assets less current liabilities

 

49,258

45,791

Creditors: Amounts falling due after more than one year

7

(12,567)

(18,367)

Net assets

 

36,691

27,424

Capital and reserves

 

Called up share capital

100

100

Retained earnings

36,591

27,324

Shareholders' funds

 

36,691

27,424

For the financial year ending 29 April 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 24 November 2023
 

 

Architectural Glazing Parts Limited

(Registration number: 08516705)
Balance Sheet as at 29 April 2023

.........................................
Mr J Parker
Director

 

Architectural Glazing Parts Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 April 2023

1

General information

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

The address of its registered office is:
The Mill Pury Hill Business Park
Alderton Road
Towcester
Northants
NN12 7LS
United Kingdom

These financial statements were authorised for issue by the director on 24 November 2023.

The company registration number is 08516705

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.

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.

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.

 

Architectural Glazing Parts Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 April 2023

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

Computer equipment

25% straight line

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. The company subsequently considers the recoverable value of the trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

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

 

Architectural Glazing Parts Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 April 2023

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 30 April 2022

16,187

16,187

Additions

916

916

At 29 April 2023

17,103

17,103

Depreciation

At 30 April 2022

7,419

7,419

Charge for the year

3,215

3,215

At 29 April 2023

10,634

10,634

Carrying amount

At 29 April 2023

6,469

6,469

At 29 April 2022

8,768

8,768

5

Stocks

2023
£

2022
£

Finished goods and goods for resale

-

69,997

 

Architectural Glazing Parts Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 April 2023

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

14,855

5,667

Amounts owed by related parties

122,474

129,955

   

137,329

135,622

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

5,894

5,894

Trade creditors

 

61,511

21,343

Taxation and social security

 

60,384

70,180

Accruals and deferred income

 

3,100

93,100

Other creditors

 

3,503

3,500

 

134,392

194,017

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

12,567

18,367

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A of £1 each

88

88

88

88

Ordinary B of £1 each

12

12

12

12

 

100

100

100

100

 

Architectural Glazing Parts Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 April 2023

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

12,567

18,367

2023
£

2022
£

Current loans and borrowings

Bank borrowings

5,800

5,800

Bank overdrafts

94

94

5,894

5,894