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Registration number: 04502615

Hayward Decorative Stained Glass Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Hayward Decorative Stained Glass Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Hayward Decorative Stained Glass Limited

Company Information

Director

Mrs Lynda Hayward

Company secretary

Mr Derek Hayward

Registered office

19 Shiphay Park Road
Shiphay
Torquay
Devon
TQ2 7DJ

Accountants

Neil Wilson & Co Chartered Accountants
Bank Chambers
260-262 Union Street
Torquay
Devon
TQ2 5QU

 

Hayward Decorative Stained Glass Limited

(Registration number: 04502615)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

398

530

Current assets

 

Stocks

5

10,381

13,420

Debtors

6

962

1,120

Cash at bank and in hand

 

64,905

65,771

 

76,248

80,311

Creditors: Amounts falling due within one year

7

(72,978)

(75,746)

Net current assets

 

3,270

4,565

Net assets

 

3,668

5,095

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

3,666

5,093

Shareholders' funds

 

3,668

5,095

For the financial year ending 31 December 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 her 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 11 July 2024
 

.........................................
Mrs Lynda Hayward
Director

 

Hayward Decorative Stained Glass Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
19 Shiphay Park Road
Shiphay
Torquay
Devon
TQ2 7DJ

These financial statements were authorised for issue by the director on 11 July 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.

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.

 

Hayward Decorative Stained Glass Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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

Plant and machinery

25% reducing balance

Office equipment

25% reducing balance

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.

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.

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.

 

Hayward Decorative Stained Glass Limited

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

3

Staff numbers

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

 

Hayward Decorative Stained Glass Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

10,828

8,268

19,096

At 31 December 2023

10,828

8,268

19,096

Depreciation

At 1 January 2023

10,419

8,147

18,566

Charge for the year

102

30

132

At 31 December 2023

10,521

8,177

18,698

Carrying amount

At 31 December 2023

307

91

398

At 31 December 2022

409

121

530

5

Stocks

2023
£

2022
£

Raw materials and consumables

6,020

6,001

Finished goods and goods for resale

9,361

7,419

Other inventories

(5,000)

-

10,381

13,420

6

Debtors

Current

2023
£

2022
£

Other debtors

962

1,120

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

-

96

Accruals and deferred income

725

725

Other creditors

72,253

74,925

72,978

75,746

 

Hayward Decorative Stained Glass Limited

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

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £1,000.00 (2022 - £2,000.00) per ordinary share

 

2,000

 

4,000

         

10

Related party transactions

Transactions with the director

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Mrs Lynda Hayward

Director loan

(65,643)

2,390

(4,000)

(67,253)

         
       

 

2022

At 1 January 2022
£

Advances to director
£

At 31 December 2022
£

Mrs Lynda Hayward

Director loan

(67,631)

1,988

(65,643)

       
     

 

Director's remuneration

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

2023
£

2022
£

Remuneration

9,046

11,828

Dividends paid to the director

 

Hayward Decorative Stained Glass Limited

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

   

2023
£

 

2022
£

Mrs Lynda Hayward

       

Final dividend paid

 

-

 

-

Interim dividend paid

 

1,000

 

-

   

1,000

 

-