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Financial Statements for the Year Ended 31 August 2023

for

Mirrors & Glass (Stockport) Limited

Mirrors & Glass (Stockport) Limited (Registered number: 00886904)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mirrors & Glass (Stockport) Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: M. Hilgart
P S Hilgart
Mrs J Underwood
Mrs H Hilgart





SECRETARY: P S Hilgart





REGISTERED OFFICE: 84/86, Wellington Road North
Stockport
Cheshire
SK4 1HW





REGISTERED NUMBER: 00886904 (England and Wales)





ACCOUNTANTS: Statera Accountants LLP
8 Stockport Road
Marple
Stockport
Cheshire
SK6 6BJ

Mirrors & Glass (Stockport) Limited (Registered number: 00886904)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 311,075 322,424

CURRENT ASSETS
Stocks 5 16,172 12,658
Debtors 6 5,051 7,641
Cash at bank 19,707 27,334
40,930 47,633
CREDITORS
Amounts falling due within one year 7 91,211 85,045
NET CURRENT LIABILITIES (50,281 ) (37,412 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

260,794

285,012

CREDITORS
Amounts falling due after more than one
year

8

50,791

44,848
NET ASSETS 210,003 240,164

CAPITAL AND RESERVES
Called up share capital 112 112
Revaluation reserve 9 136,900 136,900
Capital redemption reserve 88 88
Retained earnings 72,903 103,064
SHAREHOLDERS' FUNDS 210,003 240,164

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

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

Mirrors & Glass (Stockport) Limited (Registered number: 00886904)

Balance Sheet - continued
31 August 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





P S Hilgart - Director


Mirrors & Glass (Stockport) Limited (Registered number: 00886904)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Mirrors & Glass (Stockport) Limited 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. 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Nil
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 14 ) .

Mirrors & Glass (Stockport) Limited (Registered number: 00886904)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 September 2022 168,970 478,197 59,663
Additions - 681 -
Disposals - - -
At 31 August 2023 168,970 478,878 59,663
DEPRECIATION
At 1 September 2022 - 365,457 51,049
Charge for year - 17,016 2,158
Eliminated on disposal - - -
At 31 August 2023 - 382,473 53,207
NET BOOK VALUE
At 31 August 2023 168,970 96,405 6,456
At 31 August 2022 168,970 112,740 8,614

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2022 74,375 10,318 791,523
Additions 40,462 820 41,963
Disposals (47,985 ) - (47,985 )
At 31 August 2023 66,852 11,138 785,501
DEPRECIATION
At 1 September 2022 42,275 10,318 469,099
Charge for year 12,900 272 32,346
Eliminated on disposal (27,019 ) - (27,019 )
At 31 August 2023 28,156 10,590 474,426
NET BOOK VALUE
At 31 August 2023 38,696 548 311,075
At 31 August 2022 32,100 - 322,424

5. STOCKS
31.8.23 31.8.22
£    £   
Stocks 16,172 12,658

Mirrors & Glass (Stockport) Limited (Registered number: 00886904)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 2,677 2,570
Other debtors 2,374 5,071
5,051 7,641

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 28,395 16,100
Hire purchase contracts 23,285 23,707
Trade creditors 8,484 12,922
Taxation and social security 20,322 26,292
Other creditors 10,725 6,024
91,211 85,045

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans 30,415 33,206
Hire purchase contracts 20,376 11,642
50,791 44,848

The Bank Loan is secured by a charge over the Freehold Land and Buildings.


9. RESERVES
Revaluation
reserve
£   
At 1 September 2022
and 31 August 2023 136,900