Green Circle Bespoke Glazing Limited 07968100 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is manufacture of doors and windows. Digita Accounts Production Advanced 6.30.9574.0 true false 07968100 2023-05-01 2024-04-30 07968100 2024-04-30 07968100 core:CurrentFinancialInstruments 2024-04-30 07968100 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 07968100 core:Goodwill 2024-04-30 07968100 core:FurnitureFittingsToolsEquipment 2024-04-30 07968100 core:LandBuildings 2024-04-30 07968100 core:MotorVehicles 2024-04-30 07968100 core:OtherPropertyPlantEquipment 2024-04-30 07968100 bus:SmallEntities 2023-05-01 2024-04-30 07968100 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 07968100 bus:FullAccounts 2023-05-01 2024-04-30 07968100 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 07968100 bus:RegisteredOffice 2023-05-01 2024-04-30 07968100 bus:Director1 2023-05-01 2024-04-30 07968100 bus:Director2 2023-05-01 2024-04-30 07968100 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07968100 bus:Agent1 2023-05-01 2024-04-30 07968100 core:Goodwill 2023-05-01 2024-04-30 07968100 core:FurnitureFittings 2023-05-01 2024-04-30 07968100 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 07968100 core:LandBuildings 2023-05-01 2024-04-30 07968100 core:MotorVehicles 2023-05-01 2024-04-30 07968100 core:OfficeEquipment 2023-05-01 2024-04-30 07968100 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 07968100 core:PlantMachinery 2023-05-01 2024-04-30 07968100 core:AllSubsidiaries 2023-05-01 2024-04-30 07968100 1 2023-05-01 2024-04-30 07968100 countries:England 2023-05-01 2024-04-30 07968100 2023-04-30 07968100 core:Goodwill 2023-04-30 07968100 core:FurnitureFittingsToolsEquipment 2023-04-30 07968100 core:LandBuildings 2023-04-30 07968100 core:MotorVehicles 2023-04-30 07968100 core:OtherPropertyPlantEquipment 2023-04-30 07968100 2022-05-01 2023-04-30 07968100 2023-04-30 07968100 core:CurrentFinancialInstruments 2023-04-30 07968100 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 07968100 core:FurnitureFittingsToolsEquipment 2023-04-30 07968100 core:LandBuildings 2023-04-30 07968100 core:MotorVehicles 2023-04-30 07968100 core:OtherPropertyPlantEquipment 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 07968100

Green Circle Bespoke
Glazing Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Green Circle Bespoke Glazing Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Financial Statements

5 to 9

 

Green Circle Bespoke Glazing Limited

Company Information

Directors

Mrs P Greeno

Mr K Greeno

Registered office

Unit 5
Darklake Close
Plymouth
Devon
PL6 7TJ

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

 

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.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

12 August 2024

 

Green Circle Bespoke Glazing Limited

(Registration number: 07968100)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

411,030

313,681

Current assets

 

Stocks

6

294,115

250,514

Debtors

7

169,659

166,229

Cash at bank and in hand

 

1,093,156

940,041

 

1,556,930

1,356,784

Creditors: Amounts falling due within one year

8

(861,865)

(626,738)

Net current assets

 

695,065

730,046

Total assets less current liabilities

 

1,106,095

1,043,727

Provisions for liabilities

(92,306)

(67,683)

Net assets

 

1,013,789

976,044

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,013,689

975,944

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 9 August 2024 and signed on its behalf by:
 

.........................................

Mr K Greeno

Director

 

Green Circle Bespoke Glazing Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 5
Darklake Close
Plymouth
Devon
PL6 7TJ

2

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2023 - 15).

 

Green Circle Bespoke Glazing Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

657,000

657,000

At 30 April 2024

657,000

657,000

Amortisation

At 1 May 2023

657,000

657,000

At 30 April 2024

657,000

657,000

Carrying amount

At 30 April 2024

-

-

 

Green Circle Bespoke Glazing Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and equipment
£

Total
£

Cost or valuation

At 1 May 2023

23,937

32,828

195,107

271,455

523,327

Additions

-

5,116

120,171

56,947

182,234

Disposals

-

-

(41,701)

(1)

(41,702)

At 30 April 2024

23,937

37,944

273,577

328,401

663,859

Depreciation

At 1 May 2023

-

18,958

98,307

92,381

209,646

Charge for the year

-

3,545

35,843

32,303

71,691

Eliminated on disposal

-

-

(28,508)

-

(28,508)

At 30 April 2024

-

22,503

105,642

124,684

252,829

Carrying amount

At 30 April 2024

23,937

15,441

167,935

203,717

411,030

At 30 April 2023

23,937

13,870

96,800

179,074

313,681

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

6

Stocks

2024
£

2023
£

Work in progress

169,266

117,670

Other inventories

124,849

132,844

294,115

250,514

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

80,323

76,696

Amounts owed by group undertakings and undertakings in which the company has a participating interest

9

-

62,380

Prepayments

 

19,034

16,760

Other debtors

 

70,302

10,393

 

169,659

166,229

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

422,968

443,979

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

236,276

-

Taxation and social security

 

190,885

124,360

Accruals and deferred income

 

8,009

8,189

Other creditors

 

3,727

50,210

 

861,865

626,738

9

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

At the year end the company owed Green Circle Holdings Limited £74,724 (2023: £62,380)
 

10

Parent and ultimate parent undertaking

The company's immediate parent is Green Circle Holdings Limited , incorporated in England.

 The ultimate controlling party is Mr Kim Greeno.