Registration number:
Green Circle Bespoke
Glazing Limited
for the Year Ended 30 April 2024
Green Circle Bespoke Glazing Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Green Circle Bespoke Glazing Limited
Company Information
Directors |
Mrs P Greeno Mr K Greeno |
Registered office |
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Accountants |
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Green Circle Bespoke Glazing Limited
for the Year Ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Green Circle Bespoke Glazing Limited for the year ended 30 April 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Green Circle Bespoke Glazing Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Green Circle Bespoke Glazing Limited and state those matters that we have agreed to state to the Board of Directors of Green Circle Bespoke Glazing Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Green Circle Bespoke Glazing Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Green Circle Bespoke Glazing Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Green Circle Bespoke Glazing Limited. You consider that Green Circle Bespoke Glazing Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Green Circle Bespoke Glazing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
Green Circle Bespoke Glazing Limited
(Registration number: 07968100)
Balance Sheet as at 30 April 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
1,013,689 |
975,944 |
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Shareholders' funds |
1,013,789 |
976,044 |
Green Circle Bespoke Glazing Limited
(Registration number: 07968100)
Balance Sheet as at 30 April 2024
For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Mr K Greeno
Director
Green Circle Bespoke Glazing Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
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 using the historic cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A- The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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 and deferred 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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
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.
Green Circle Bespoke Glazing Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
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 |
Motor Vehicles |
25% reducing balance |
Plant and equipment |
15% reducing balance |
Computer equipment |
25% reducing balance |
Fixtures & fittings |
15% reducing balance |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
10 years straight line |
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.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Green Circle Bespoke Glazing Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 May 2023 |
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At 30 April 2024 |
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Amortisation |
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At 1 May 2023 |
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At 30 April 2024 |
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Carrying amount |
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At 30 April 2024 |
- |
- |
Green Circle Bespoke Glazing Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Plant and equipment |
Total |
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Cost or valuation |
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At 1 May 2023 |
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Additions |
- |
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Disposals |
- |
- |
( |
( |
( |
At 30 April 2024 |
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Depreciation |
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At 1 May 2023 |
- |
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Charge for the year |
- |
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Eliminated on disposal |
- |
- |
( |
- |
( |
At 30 April 2024 |
- |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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Included within the net book value of land and buildings above is £23,937 (2023 - £23,937) in respect of freehold land and buildings.
Green Circle Bespoke Glazing Limited
Notes to the Financial Statements for the Year Ended 30 April 2024
Stocks |
2024 |
2023 |
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Work in progress |
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Other inventories |
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Debtors |
Note |
2024 |
2023 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
- |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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- |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Related party transactions |
During the year the company made cash advances to the directors totalling £364,685 and repayments totalling £264,583 were made. The amount owed to the company at the balance sheet date was £53,518 (2023: £47,186 creditor). This amount is repayable on demand. Interest is charged on the outstanding balance at the official HMRC rate.
Summary of transactions with all subsidiaries
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate controlling party is