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REGISTERED NUMBER: 06793928 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ABELGLASS TRADE SUPPLIES LTD

ABELGLASS TRADE SUPPLIES LTD (REGISTERED NUMBER: 06793928)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ABELGLASS TRADE SUPPLIES LTD

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: D P Kaye
Mrs L Kaye





REGISTERED OFFICE: Vantage House Euxton Lane
Euxton
Chorley
Lancashire
PR7 6TB





REGISTERED NUMBER: 06793928 (England and Wales)





ACCOUNTANTS: Studholme-Bell Limited
Chartered Accountants
& Business Advisors
Vantage House Euxton Lane
Euxton
Chorley
Lancashire
PR7 6TB

ABELGLASS TRADE SUPPLIES LTD (REGISTERED NUMBER: 06793928)

ABRIDGED BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 202,515 242,817
202,515 242,817

CURRENT ASSETS
Stocks 73,125 97,500
Debtors 128,233 170,004
Cash at bank and in hand 157,335 138,358
358,693 405,862
CREDITORS
Amounts falling due within one year 239,260 328,122
NET CURRENT ASSETS 119,433 77,740
TOTAL ASSETS LESS CURRENT
LIABILITIES

321,948

320,557

CREDITORS
Amounts falling due after more than one
year

(15,997

)

(25,824

)

PROVISIONS FOR LIABILITIES (48,549 ) (58,166 )
NET ASSETS 257,402 236,567

CAPITAL AND RESERVES
Called up share capital 1,010 1,010
Retained earnings 256,392 235,557
SHAREHOLDERS' FUNDS 257,402 236,567

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

ABELGLASS TRADE SUPPLIES LTD (REGISTERED NUMBER: 06793928)

ABRIDGED BALANCE SHEET - continued
31 December 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 18 July 2024 and were signed on its behalf by:





D P Kaye - Director


ABELGLASS TRADE SUPPLIES LTD (REGISTERED NUMBER: 06793928)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Abelglass Trade Supplies 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. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with FRS102 Section 1A for small entities. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The principle accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and have also been consistently applied within the same accounts.

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

Turnover
Turnover is recognised when goods have been delivered to customers such that risks and regards of ownership have transferred to them.

Goodwill
Goodwill is capitalised and has been amortised in full over its useful life of 5 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 20% on cost
Computer equipment - 10% on cost

Stocks
Stocks have been valued at the lower of cost and estimated selling price, less costs to sell. In respect of work in progress and finished goods, cost included a relevant proportion of overheads according to the stage of manufacture/completion.

ABELGLASS TRADE SUPPLIES LTD (REGISTERED NUMBER: 06793928)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

Deferred taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

Hire purchase and leasing commitments
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other intangible assets. The related obligations, net of future finance charges, are included in creditors.

Rentals payable under operating leases are charged to the profit and loss account 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 22 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 30,000
AMORTISATION
At 1 January 2023
and 31 December 2023 30,000
NET BOOK VALUE

At 31 December 2023 -
At 31 December 2022 -

ABELGLASS TRADE SUPPLIES LTD (REGISTERED NUMBER: 06793928)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 526,327
Additions 9,802
Disposals (10,300 )
At 31 December 2023 525,829
DEPRECIATION
At 1 January 2023 283,510
Charge for year 42,293
Eliminated on disposal (2,489 )
At 31 December 2023 323,314
NET BOOK VALUE
At 31 December 2023 202,515
At 31 December 2022 242,817

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 January 2023
and 31 December 2023 73,816
DEPRECIATION
At 1 January 2023 66,993
Charge for year 6,823
At 31 December 2023 73,816
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 6,823

7. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts - 2,229

Hire purchases liability's are secured on the assets to which they relate.

ABELGLASS TRADE SUPPLIES LTD (REGISTERED NUMBER: 06793928)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


8. RELATED PARTY DISCLOSURES

During the year, total dividends of £61,500 (2022 - £63,250) were paid to the directors .

9. ULTIMATE CONTROLLING PARTY

The controlling party is D P Kaye.