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REGISTERED NUMBER: 01714388 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

MEIR GLASS CENTRE LIMITED

MEIR GLASS CENTRE LIMITED (REGISTERED NUMBER: 01714388)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024










Page

Statement of financial position 1 to 2

Notes to the financial statements 3 to 7


MEIR GLASS CENTRE LIMITED (REGISTERED NUMBER: 01714388)

STATEMENT OF FINANCIAL POSITION
30 April 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 133,296 138,154

CURRENT ASSETS
Stocks 1,200 3,250
Debtors 5 7,704 10,576
Cash at bank and in hand 14,211 18,646
23,115 32,472
CREDITORS
Amounts falling due within one year 6 (17,389 ) (20,286 )
NET CURRENT ASSETS 5,726 12,186
TOTAL ASSETS LESS CURRENT
LIABILITIES

139,022

150,340

CREDITORS
Amounts falling due after more than one
year

7

(5,597

)

(8,445

)

PROVISIONS FOR LIABILITIES (5,551 ) (6,474 )
NET ASSETS 127,874 135,421

CAPITAL AND RESERVES
Called up share capital 50 50
Revaluation reserve 8 79,169 80,625
Other reserves 50 50
Retained earnings 48,605 54,696
127,874 135,421

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

MEIR GLASS CENTRE LIMITED (REGISTERED NUMBER: 01714388)

STATEMENT OF FINANCIAL POSITION - continued
30 April 2024


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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2024 and were signed on its behalf by:





M J Molyneaux - Director


MEIR GLASS CENTRE LIMITED (REGISTERED NUMBER: 01714388)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

Meir Glass Centre Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01714388

Registered office: 284 Sandon Road
Meir
Stoke on Trent
ST3 7BN

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(i) Estimated useful lives and residual values of fixed assets

Depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during the current and prior accounting periods.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

MEIR GLASS CENTRE LIMITED (REGISTERED NUMBER: 01714388)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible assets are initially recorded at cost, and 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.

(i) Land and buildings

Land and buildings held at valuation are stated at deemed cost at the date of transition to FRS 102 less accumulated depreciation and accumulated impairment losses. The company previously adopted a policy of revaluing freehold land and buildings and they were stated at their revalued amount less any subsequent depreciation and accumulated impairment losses. The company has adopted the transitional exemption under FRS 102 paragraph 35.10(d) and has elected to use the previous revaluation as deemed cost.

(ii) Fixtures and fittings

Fixtures and fittings are stated at cost less accumulated depreciation.

(iii) Plant and machinery

Plant and machinery are stated at cost less accumulated depreciation.

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:

Freehold property - 2% straight line
Plant and machinery - 20% reducing balance
Fixtures and Fittings - 20% reducing balance

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

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.


MEIR GLASS CENTRE LIMITED (REGISTERED NUMBER: 01714388)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024


2. ACCOUNTING POLICIES - continued
Corporation tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

MEIR GLASS CENTRE LIMITED (REGISTERED NUMBER: 01714388)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Cost
At 1 May 2023 150,000 18,719 18,489 19,900 207,108
Additions - - 359 - 359
At 30 April 2024 150,000 18,719 18,848 19,900 207,467
Depreciation
At 1 May 2023 24,192 18,704 17,620 8,438 68,954
Charge for year 2,688 3 234 2,292 5,217
At 30 April 2024 26,880 18,707 17,854 10,730 74,171
Net book value
At 30 April 2024 123,120 12 994 9,170 133,296
At 30 April 2023 125,808 15 869 11,462 138,154

Included in freehold land and buildings is land in the approximate sum of £15,600 (2023 - £15,600), which is not subject to depreciation.

The company applied the transitional arrangements of section 35 of FRS 102 and used a previous valuation as the deemed cost for freehold property.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 2,249 5,518
Other debtors 5,455 5,058
7,704 10,576

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 2,991 2,844
Trade creditors 5,317 8,001
Taxation and social security 8,981 8,374
Other creditors 100 1,067
17,389 20,286

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 5,597 8,445

MEIR GLASS CENTRE LIMITED (REGISTERED NUMBER: 01714388)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 April 2024


8. RESERVES
Revaluation
reserve
£   
At 1 May 2023 80,625
Annual transfer (1,456 )

At 30 April 2024 79,169

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

There was an overdrawn loan balance with directors of £3,591 at the end of the year. This has been repaid during the year ending 30 April 2025.

10. RELATED PARTY DISCLOSURES

All transactions undertaken with the directors are deemed to be conducted under normal market conditions and/or are not material.