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2022-11-01
Sage Accounts Production 23.0 - FRS102_2023
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Company registration number:
02052685
Glasslights Ltd
Trading as
Tynant Nursing Home
Unaudited filleted abridged financial statements
31 October 2023
Glasslights Ltd
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Notes to the financial statements
Glasslights Ltd
Directors and other information
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Directors |
Dr Riaz Ahmad |
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|
Teresa Ahmad |
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Secretary |
Dr Riaz Ahmad |
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Company number |
02052685 |
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Registered office |
Viaduct Road |
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Cymmer |
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Port Talbot |
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SA13 3NR |
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Business address |
Viaduct Road |
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Cymmer |
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Port Talbot |
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SA13 3NR |
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Accountants |
C C Jenkins & Partners Ltd |
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34 - 35 Tydraw Street |
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Port Talbot |
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West Glamorgan |
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SA13 1BT |
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Bankers |
Barclays Bank Plc |
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Kingsway Business Center |
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Swansea |
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Nat West Plc |
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Solicitors |
Cameron,Jones,Hussell & Howe |
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1/3 Grove Place |
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Port Talbot |
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SA13 1BT |
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Glasslights Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Glasslights Ltd
Year ended 31 October 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 October 2023 which comprise the abridged statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
C C Jenkins & Partners Ltd
Chartered Certified Accountants
34 - 35 Tydraw Street
Port Talbot
West Glamorgan
SA13 1BT
29 July 2024
Glasslights Ltd
Abridged statement of financial position
31 October 2023
|
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2023 |
|
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|
2022 |
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|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
1,549,256 |
|
|
|
1,596,661 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
1,549,256 |
|
|
|
1,596,661 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
3,500 |
|
|
|
3,500 |
|
|
Debtors |
|
|
27,045 |
|
|
|
3,518 |
|
|
Cash at bank and in hand |
|
|
562,782 |
|
|
|
332,809 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
593,327 |
|
|
|
339,827 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
|
(
383,633) |
|
|
|
(
390,491) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets/(liabilities) |
|
|
|
|
209,694 |
|
|
|
(
50,664) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
1,758,950 |
|
|
|
1,545,997 |
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Creditors: amounts falling due |
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|
|
|
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after more than one year |
|
|
|
|
(
171,812) |
|
|
|
(
285,984) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
1,587,138 |
|
|
|
1,260,013 |
|
|
|
|
|
_______ |
|
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|
_______ |
|
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Capital and reserves |
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|
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Called up share capital |
|
|
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|
2,902 |
|
|
|
2,902 |
Profit and loss account |
|
|
|
|
1,584,236 |
|
|
|
1,257,111 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
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|
|
|
1,587,138 |
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1,260,013 |
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|
|
|
|
_______ |
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|
_______ |
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For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the
board of directors
and authorised for issue on
29 July 2024
, and are signed on behalf of the board by:
Dr Riaz Ahmad
Director
Company registration number:
02052685
Glasslights Ltd
Notes to the financial statements
Year ended 31 October 2023
1.
General information
The company is a private company limited by shares, registered in UK. The address of the registered office is Tynant, Viaduct Road, Cymmer, Port Talbot, SA13 3NR.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
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|
Freehold property |
- |
2 % |
straight line |
|
Plant and machinery |
- |
25 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
25 % |
reducing balance |
|
Motor vehicles |
- |
25 % |
reducing balance |
|
|
|
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|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
110
(2022:
106
).
5.
Tangible assets
|
|
|
|
|
|
|
|
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|
|
£ |
|
|
|
|
|
|
|
Cost |
|
|
|
|
|
|
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|
At 1 November 2022 and 31 October 2023 |
2,690,905 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
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|
Depreciation |
|
|
|
|
|
|
|
|
At 1 November 2022 |
1,094,244 |
|
|
|
|
|
|
|
Charge for the year |
47,405 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
At 31 October 2023 |
1,141,649 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 October 2023 |
1,549,256 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
At 31 October 2022 |
1,596,661 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
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|
|
|
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|
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|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Dr Riaz Ahmad |
(
74,720) |
(
333,242) |
405,045 |
(
2,917) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Dr Riaz Ahmad |
(
169,695) |
(
132,511) |
227,486 |
(
74,720) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
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