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REGISTERED NUMBER: 06971577 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 July 2023

for

Tranquillity In Glass Ltd

Tranquillity In Glass Ltd (Registered number: 06971577)






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


Tranquillity In Glass Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTORS: Keith Grieve
William Reynolds
Will John Reynolds
Stephen Peter Reynolds





REGISTERED OFFICE: 4 Capricorn Centre
Cranes Farm Road
Basildon
Essex
SS14 3JJ





REGISTERED NUMBER: 06971577 (England and Wales)





ACCOUNTANTS: Vellender Lewis Accountants Limited
4 Capricorn Centre
Cranes Farm Road
Basildon
Essex
SS14 3JJ

Tranquillity In Glass Ltd (Registered number: 06971577)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 309,511 324,742

CURRENT ASSETS
Stocks 145,428 176,958
Debtors 5 73,369 91,091
Cash in hand 21,091 13,184
239,888 281,233
CREDITORS
Amounts falling due within one year 6 316,185 270,513
NET CURRENT (LIABILITIES)/ASSETS (76,297 ) 10,720
TOTAL ASSETS LESS CURRENT
LIABILITIES

233,214

335,462

CREDITORS
Amounts falling due after more than one
year

7

(84,000

)

(189,842

)

PROVISIONS FOR LIABILITIES (62,409 ) (60,284 )
NET ASSETS 86,805 85,336

CAPITAL AND RESERVES
Called up share capital 400 400
Retained earnings 86,405 84,936
SHAREHOLDERS' FUNDS 86,805 85,336

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 directors acknowledge their 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.

Tranquillity In Glass Ltd (Registered number: 06971577)

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 Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





Keith Grieve - Director


Tranquillity In Glass Ltd (Registered number: 06971577)

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

1. STATUTORY INFORMATION

Tranquillity In Glass Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Tranquillity In Glass Ltd (Registered number: 06971577)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 554,454
Additions 1,407
At 31 July 2023 555,861
DEPRECIATION
At 1 August 2022 229,712
Charge for year 16,638
At 31 July 2023 246,350
NET BOOK VALUE
At 31 July 2023 309,511
At 31 July 2022 324,742

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 23,015 70,380
Other debtors 50,354 20,711
73,369 91,091

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 166,919 138,260
Hire purchase contracts 34,250 32,386
Trade creditors 27,418 31,703
Taxation and social security 65,977 49,830
Other creditors 21,621 18,334
316,185 270,513

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 84,000 155,592
Hire purchase contracts - 34,250
84,000 189,842