Caseware UK (AP4) 2023.0.135 2023.0.135 false2022-12-01The Manufacture of flat glass.3128truetrue 08810065 2022-12-01 2023-11-30 08810065 2021-12-01 2022-11-30 08810065 2023-11-30 08810065 2022-11-30 08810065 2021-12-01 08810065 c:Director1 2022-12-01 2023-11-30 08810065 c:Director2 2022-12-01 2023-11-30 08810065 c:Director5 2022-12-01 2023-11-30 08810065 c:Director5 2023-11-30 08810065 c:RegisteredOffice 2022-12-01 2023-11-30 08810065 d:Buildings d:LongLeaseholdAssets 2022-12-01 2023-11-30 08810065 d:Buildings d:ShortLeaseholdAssets 2022-12-01 2023-11-30 08810065 d:Buildings d:ShortLeaseholdAssets 2023-11-30 08810065 d:Buildings d:ShortLeaseholdAssets 2022-11-30 08810065 d:PlantMachinery 2022-12-01 2023-11-30 08810065 d:PlantMachinery 2023-11-30 08810065 d:PlantMachinery 2022-11-30 08810065 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 08810065 d:MotorVehicles 2022-12-01 2023-11-30 08810065 d:MotorVehicles 2023-11-30 08810065 d:MotorVehicles 2022-11-30 08810065 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 08810065 d:FurnitureFittings 2022-12-01 2023-11-30 08810065 d:OfficeEquipment 2022-12-01 2023-11-30 08810065 d:OfficeEquipment 2023-11-30 08810065 d:OfficeEquipment 2022-11-30 08810065 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 08810065 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 08810065 d:CurrentFinancialInstruments 2023-11-30 08810065 d:CurrentFinancialInstruments 2022-11-30 08810065 d:Non-currentFinancialInstruments 2023-11-30 08810065 d:Non-currentFinancialInstruments 2022-11-30 08810065 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 08810065 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 08810065 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 08810065 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 08810065 d:ShareCapital 2023-11-30 08810065 d:ShareCapital 2022-11-30 08810065 d:ShareCapital 2021-12-01 08810065 d:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 08810065 d:RetainedEarningsAccumulatedLosses 2023-11-30 08810065 d:RetainedEarningsAccumulatedLosses 2021-12-01 2022-11-30 08810065 d:RetainedEarningsAccumulatedLosses 2022-11-30 08810065 d:RetainedEarningsAccumulatedLosses 2021-12-01 08810065 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 08810065 d:AcceleratedTaxDepreciationDeferredTax 2022-11-30 08810065 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-11-30 08810065 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-11-30 08810065 c:OrdinaryShareClass1 2022-12-01 2023-11-30 08810065 c:OrdinaryShareClass1 2023-11-30 08810065 c:OrdinaryShareClass1 2022-11-30 08810065 c:FRS102 2022-12-01 2023-11-30 08810065 c:Audited 2022-12-01 2023-11-30 08810065 c:FullAccounts 2022-12-01 2023-11-30 08810065 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 08810065 d:HirePurchaseContracts d:WithinOneYear 2023-11-30 08810065 d:HirePurchaseContracts d:WithinOneYear 2022-11-30 08810065 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-11-30 08810065 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-11-30 08810065 c:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 08810065 e:PoundSterling 2022-12-01 2023-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08810065









LONDON ARCHITECTURAL GLASS LTD









Financial statements

Information for filing with the registrar

For the Year Ended 30 November 2023

 
LONDON ARCHITECTURAL GLASS LTD
 
 
Company Information


Directors
M E Harrison 
A Maslin 
V Graveling (appointed 27 February 2024)




Registered number
08810065



Registered office
Units 10 & 11 Rigby Lane

Hayes

UB3 1EY




Independent auditors
PKF Smith Cooper Audit Limited
Statutory Auditors

158 Edmund Street

Birmingham

B3 2HB





 
LONDON ARCHITECTURAL GLASS LTD
Registered number: 08810065

Balance Sheet
As at 30 November 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets

 4 

318,279
267,957

Current assets
  

Stocks
 5 
269,791
310,890

Debtors: amounts falling due within one year
 6 
5,598,600
5,911,003

Cash at bank and in hand
 7 
1,019,131
1,002,189

  
6,887,522
7,224,082

Creditors: amounts falling due within one year
 8 
(889,455)
(1,315,938)

Net current assets
  
 
 
5,998,067
 
 
5,908,144

Total assets less current liabilities
  
6,316,346
6,176,101

Creditors: amounts falling due after more than one year
  
(81,251)
-

Provisions for liabilities
  

Deferred tax
 11 
(40,000)
(40,000)

Other provisions
 12 
(20,000)
(20,000)

  
 
 
(60,000)
 
 
(60,000)

Net assets
  
6,175,095
6,116,101


Capital and reserves
  

Called up share capital 
 13 
1,000
1,000

Profit and loss account
 14 
6,174,095
6,115,101

  
6,175,095
6,116,101


Page 1

 
LONDON ARCHITECTURAL GLASS LTD
Registered number: 08810065
    
Balance Sheet (continued)
As at 30 November 2023

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 August 2024.




M E Harrison
Director

The notes on pages 4 to 12 form part of these financial statements.

Page 2

 
LONDON ARCHITECTURAL GLASS LTD
 

Statement of Changes in Equity
For the Year Ended 30 November 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 December 2021
1,000
4,639,978
4,640,978



Profit for the year
-
1,625,123
1,625,123

Dividends: Equity capital
-
(150,000)
(150,000)



At 1 December 2022
1,000
6,115,101
6,116,101



Profit for the year
-
1,408,994
1,408,994

Dividends: Equity capital
-
(1,350,000)
(1,350,000)


At 30 November 2023
1,000
6,174,095
6,175,095


The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
LONDON ARCHITECTURAL GLASS LTD
 
 
 
Notes to the Financial Statements
For the Year Ended 30 November 2023

1.


General information

London Architectural Glass Ltd is a private limited company, limited by shares and incorporated in England. The address of the registered office is Units 10 & 11 Rigby Lane, Hayes, UB3 1EY. The Company's registration number is 08810065. The principal activity of the Company continued to be the supply of bespoke architectural glass. 
The financial statements are prepared in Sterling which is the functional currency of the Company. The financial statements level of rounding is to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
LONDON ARCHITECTURAL GLASS LTD
 
 
 
Notes to the Financial Statements
For the Year Ended 30 November 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in Statement of Comprehensive Income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 5

 
LONDON ARCHITECTURAL GLASS LTD
 
 
 
Notes to the Financial Statements
For the Year Ended 30 November 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and on a reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property
-
10%
straight line
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Furniture, fittings and equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in Statement of Comprehensive Income.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
LONDON ARCHITECTURAL GLASS LTD
 
 
 
Notes to the Financial Statements
For the Year Ended 30 November 2023

2.Accounting policies (continued)

  
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and 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 Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average number of persons employed by the company (including directors) during the year, was 28 (2022 - 31).


Page 7

 
LONDON ARCHITECTURAL GLASS LTD
 
 
 
Notes to the Financial Statements
For the Year Ended 30 November 2023

4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Motor vehicles
Furniture, fittings and equipment
Total

£
£
£
£
£



Cost 


At 1 December 2022
72,919
619,332
102,506
50,319
845,076


Additions
-
5,971
121,177
942
128,090


Transfers intra group
-
5,000
-
-
5,000


Disposals
-
-
(68,546)
-
(68,546)



At 30 November 2023

72,919
630,303
155,137
51,261
909,620



Depreciation


At 1 December 2022
21,333
450,544
78,662
26,580
577,119


Charge for year
7,291
43,473
11,717
6,170
68,651


Transfers intra group
-
2,812
-
-
2,812


Disposals
-
-
(57,241)
-
(57,241)



At 30 November 2023

28,624
496,829
33,138
32,750
591,341



Net book value



At 30 November 2023
44,295
133,474
121,999
18,511
318,279



At 30 November 2022
51,586
168,788
23,844
23,739
267,957


5.


Stocks

2023
2022
£
£

Stock and work in progress
269,791
310,890


Page 8

 
LONDON ARCHITECTURAL GLASS LTD
 
 
 
Notes to the Financial Statements
For the Year Ended 30 November 2023

6.


Debtors

2023
2022
£
£


Trade debtors
324,177
674,672

Amounts owed by group undertakings
5,207,917
5,153,845

Other debtors
1,000
1,000

Prepayments and accrued income
65,506
81,486

5,598,600
5,911,003


The company discounts its trade debtors. The debtors discounted at the year end were £242,029 (2022 - £257,121).


7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,019,131
1,002,189



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
-
20,195

Trade creditors
610,915
905,695

Other taxation and social security
142,599
174,438

Obligations under finance lease and hire purchase contracts
17,448
-

Other creditors
29,134
23,637

Accruals and deferred income
89,359
191,973

889,455
1,315,938



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
81,251
-

81,251
-


Page 9

 
LONDON ARCHITECTURAL GLASS LTD
 
 
 
Notes to the Financial Statements
For the Year Ended 30 November 2023

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
17,448
-

Between 1-5 years
81,251
-

98,699
-

Obligations under finance lease and hire purchase contracts are secured over the assets to which they relate.


11.


Deferred taxation




2023


£






At beginning of year
(40,000)



At end of year
(40,000)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(40,000)
(40,000)

(40,000)
(40,000)


12.


Provisions




Other provision

£





At 1 December 2022
20,000



At 30 November 2023
20,000

Page 10

 
LONDON ARCHITECTURAL GLASS LTD
 
 
 
Notes to the Financial Statements
For the Year Ended 30 November 2023

13.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary Shares of £1.00 each
1,000
1,000



14.


Reserves

Profit and loss account

This reserve records all current and prior period retained profit and losses.


15.


Contingent liabilities

Lloyds Bank plc hold a letter of set off between the company, parent company and fellow subsidiaries, Brownhills Glass Company Limited, Peterlee Glass Company Limited, Tufwell Glass Limited, Brownhills Investments Property Limited and Peterleetwo Limited. The company is therefore jointly and severally liable for the amount owed by United Glass Group Ltd, Brownhills Glass Company Limited, Peterlee Glass Company Limited, Tufwell Glass Limited, Brownhills Investments Property Limited and Peterleetwo Limited to Lloyds Bank plc. The total balances guaranteed at 30 November 2023 amounted to £3,358,214 (2022 - £4,610,489).
Since March 2023, Lombard North Central PLC hold a guarantee and indemnity between the company and fellow subsidiaries, Peterlee Glass Limited, Brownhills Investment Property Limited, Tufwell Glass Limited and Brownhills Glass Company Limited. The company is therefore jointly and severally liable for the amount owed by Peterlee Glass Limited, Brownhills Investments Property Limited, Tufwell Glass Limited and Brownhills Glass Company Limited to Lombard North Central PLC. The total balances guaranteed at 30 November 2023 amounted to £261,334.
The company is party, together with other group and related undertakings, to multilateral guarantees given to Duke Royalty Limited. The total balances guaranteed at 30 November 2023 amounted to £11,647,170 (2022 - £11,778,257).


16.


Capital commitments


At 30 November 2023 the Company had capital commitments as follows:

2023
2022
£
£


Contracted for but not provided in these financial statements
-
115,178

Page 11

 
LONDON ARCHITECTURAL GLASS LTD
 
 
 
Notes to the Financial Statements
For the Year Ended 30 November 2023

17.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £20,456 (2022 - £16,119). Contributions totalling £7,966 (2022 - £7,761) were payable to the fund at the balance sheet date and are included in creditors.


18.


Commitments under operating leases

The total amount of commitments under operating leases not included in the balance sheet is £1,440,000 (2022 - £1,680,000).


19.


Related party transactions

The Company has taken advantage of the exemption in section 33.1A of Financial Reporting Standard 102 from the requirement to disclose transactions with wholly owned members of the group.


20.


Controlling party

The Company is a wholly owned subsidiary undertaking of United Glass Group Ltd, which is also the ultimate parent company. The registered address of the parent company is Beecham Close, Aldridge, Walsall, West Midlands, WS9 8UZ.
United Glass Group Ltd prepares group financial statements and copies can be obtained from Companies House, Crown Way, Cardiff, Wales, CF14 3UZ.
At the balance sheet date, the ultimate controlling party was M E Harrison by virtue of his shareholding in United Glass Group Ltd. Subsequently, at the time of approval of these financial statements, the ultimate controlling party is now Duke Royalty UK Limited by virtue of their shareholding in United Glass Group Ltd.


21.


Auditors' information

The auditors' report on the financial statements for the year ended 30 November 2023 was unqualified.

The audit report was signed on 29 August 2024 by Stephen Newman (Senior Statutory Auditor) on behalf of PKF Smith Cooper Audit Limited.

 
Page 12