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REGISTERED NUMBER: 04703496 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 March 2024

for

HIGH CLASS GLASS LIMITED

HIGH CLASS GLASS LIMITED (REGISTERED NUMBER: 04703496)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

HIGH CLASS GLASS LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M D Fisher
Mrs J D Fisher





SECRETARY: Mrs J D Fisher





REGISTERED OFFICE: Unit 1a
Marston Road Trading Park
Marston Road
Stafford
ST16 3GB





REGISTERED NUMBER: 04703496 (England and Wales)





ACCOUNTANTS: CHEADLES
Chartered Accountants
Telegraph House
59 Wolverhampton Road
Stafford
Staffordshire
ST17 4AW

HIGH CLASS GLASS LIMITED (REGISTERED NUMBER: 04703496)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 9,600 10,800
Tangible assets 5 79,279 18,481
88,879 29,281

CURRENT ASSETS
Stocks 2,100 2,000
Debtors 6 16,397 21,228
Cash at bank 87,904 114,975
106,401 138,203
CREDITORS
Amounts falling due within one year 7 127,465 139,416
NET CURRENT LIABILITIES (21,064 ) (1,213 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

67,815

28,068

CREDITORS
Amounts falling due after more than one year 8 (23,398 ) (10,908 )

PROVISIONS FOR LIABILITIES (15,063 ) (3,512 )
NET ASSETS 29,354 13,648

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 29,154 13,448
29,354 13,648

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

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

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 29 August 2024 and were signed on its behalf by:



M D Fisher - Director


HIGH CLASS GLASS LIMITED (REGISTERED NUMBER: 04703496)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

High Class Glass 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.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the amounts reported for the assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

HIGH CLASS GLASS LIMITED (REGISTERED NUMBER: 04703496)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 30,000
AMORTISATION
At 1 April 2023 19,200
Amortisation for year 1,200
At 31 March 2024 20,400
NET BOOK VALUE
At 31 March 2024 9,600
At 31 March 2023 10,800

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 3,075 79,853 82,928
Additions - 89,461 89,461
Disposals - (45,495 ) (45,495 )
At 31 March 2024 3,075 123,819 126,894
DEPRECIATION
At 1 April 2023 3,075 61,372 64,447
Charge for year - 14,910 14,910
Eliminated on disposal - (31,742 ) (31,742 )
At 31 March 2024 3,075 44,540 47,615
NET BOOK VALUE
At 31 March 2024 - 79,279 79,279
At 31 March 2023 - 18,481 18,481

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 16,397 21,228

HIGH CLASS GLASS LIMITED (REGISTERED NUMBER: 04703496)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 270 -
Hire purchase contracts 4,833 7,332
Trade creditors 68,964 70,552
Taxation and social security 14,928 18,041
Other creditors 38,470 43,491
127,465 139,416

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 23,398 10,908

9. ULTIMATE CONTROLLING PARTY

The directors own 100% of the share capital.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
High Class Glass Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of High Class Glass Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of High Class Glass Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of High Class Glass Limited and state those matters that we have agreed to state to the Board of Directors of High Class Glass Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than High Class Glass Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that High Class Glass Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of High Class Glass Limited. You consider that High Class Glass 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 financial statements of High Class Glass 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 financial statements.






CHEADLES
Chartered Accountants
Telegraph House
59 Wolverhampton Road
Stafford
Staffordshire
ST17 4AW


29 August 2024