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REGISTERED NUMBER: 04776948 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Action Glass & Glazing Limited

Action Glass & Glazing Limited (Registered number: 04776948)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Action Glass & Glazing Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Mr E Foley





REGISTERED OFFICE: Queens Court Business Centre
Newport Road
Middlesbrough
TS1 5EH





REGISTERED NUMBER: 04776948 (England and Wales)





ACCOUNTANTS: APC Accountancy
Chartered Accountants
73 Gilkes Street
Middlesbrough
TS1 5EH

Action Glass & Glazing Limited (Registered number: 04776948)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,416 2,912
1,416 2,912

CURRENT ASSETS
Stocks 450 430
Debtors 6 55,484 43,773
Cash at bank 83,646 47,170
139,580 91,373
CREDITORS
Amounts falling due within one year 7 69,174 49,218
NET CURRENT ASSETS 70,406 42,155
TOTAL ASSETS LESS CURRENT
LIABILITIES

71,822

45,067

CREDITORS
Amounts falling due after more than one
year

8

(20,017

)

(30,501

)

PROVISIONS FOR LIABILITIES 9 (269 ) -
NET ASSETS 51,536 14,566

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 51,534 14,564
SHAREHOLDERS' FUNDS 51,536 14,566

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Action Glass & Glazing Limited (Registered number: 04776948)

Balance Sheet - continued
31 July 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 July 2024 and were signed by:





Mr E Foley - Director


Action Glass & Glazing Limited (Registered number: 04776948)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Action Glass & Glazing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of business, is being amortised evenly over its estimated useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 15% on reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual
provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Action Glass & Glazing Limited (Registered number: 04776948)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 19,240
AMORTISATION
At 1 August 2022
and 31 July 2023 19,240
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022
and 31 July 2023 63,666
DEPRECIATION
At 1 August 2022 60,754
Charge for year 1,496
At 31 July 2023 62,250
NET BOOK VALUE
At 31 July 2023 1,416
At 31 July 2022 2,912

Action Glass & Glazing Limited (Registered number: 04776948)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 33,413 34,106
Other debtors 22,071 9,667
55,484 43,773

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 9,992 9,507
Trade creditors 23,823 3,622
Taxation and social security 8,400 -
Other creditors 26,959 36,089
69,174 49,218

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 20,017 30,501

9. PROVISIONS FOR LIABILITIES
31.7.23 31.7.22
£    £   
Deferred tax 269 -

Deferred
tax
£   
Movement in provision 269
Balance at 31 July 2023 269

10. RELATED PARTY DISCLOSURES

At the 31st July 2023 the company owed its director £22,559 (2023: £28,664).

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr E Foley.