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REGISTERED NUMBER: 06014038 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

EUROGLAZE LIMITED

EUROGLAZE LIMITED (REGISTERED NUMBER: 06014038)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EUROGLAZE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs S Nettleton
M E Nettleton
G Park
Mrs E E Mitchell





SECRETARY: Mrs S Nettleton





REGISTERED OFFICE: 36-40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL





REGISTERED NUMBER: 06014038 (England and Wales)





ACCOUNTANTS: Seaman Herbert & Co
36 - 40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL

EUROGLAZE LIMITED (REGISTERED NUMBER: 06014038)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,000 16,080
Tangible assets 5 1,010,059 1,076,349
1,017,059 1,092,429

CURRENT ASSETS
Stocks 6 610,352 593,349
Debtors 7 200,971 226,171
Cash at bank and in hand 73,013 44,566
884,336 864,086
CREDITORS
Amounts falling due within one year 8 754,848 650,835
NET CURRENT ASSETS 129,488 213,251
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,146,547

1,305,680

CREDITORS
Amounts falling due after more than one
year

9

(266,202

)

(359,987

)

PROVISIONS FOR LIABILITIES 11 (101,864 ) (103,853 )

ACCRUALS AND DEFERRED INCOME (45,689 ) (53,814 )
NET ASSETS 732,792 788,026

CAPITAL AND RESERVES
Called up share capital 12 100 100
Revaluation reserve 13 236,918 236,918
Retained earnings 495,774 551,008
SHAREHOLDERS' FUNDS 732,792 788,026

EUROGLAZE LIMITED (REGISTERED NUMBER: 06014038)

BALANCE SHEET - continued
31 DECEMBER 2023


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

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

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 Profit & Loss Account and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





M E Nettleton - Director


EUROGLAZE LIMITED (REGISTERED NUMBER: 06014038)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Euroglaze 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 as modified by the revaluation of certain assets.

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 the business in 2014, has been fully amortised.

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.

The amortisation of development costs will commence on completion of the project.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - not provided
Plant and machinery - at varying rates on cost
Fixtures and fittings - at varying rates on cost
Motor vehicles - at varying rates on cost
Computer equipment - at varying rates on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account 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 balance sheet date.


EUROGLAZE LIMITED (REGISTERED NUMBER: 06014038)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2022 - 48 ) .

4. INTANGIBLE FIXED ASSETS
Development
Goodwill costs Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 5,238 45,393 50,631
AMORTISATION
At 1 January 2023 5,238 29,313 34,551
Amortisation for year - 9,080 9,080
At 31 December 2023 5,238 38,393 43,631
NET BOOK VALUE
At 31 December 2023 - 7,000 7,000
At 31 December 2022 - 16,080 16,080

EUROGLAZE LIMITED (REGISTERED NUMBER: 06014038)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST OR VALUATION
At 1 January 2023 751,799 361,722 74,027
Additions - 3,080 8,147
At 31 December 2023 751,799 364,802 82,174
DEPRECIATION
At 1 January 2023 - 158,156 38,736
Charge for year - 36,840 11,033
At 31 December 2023 - 194,996 49,769
NET BOOK VALUE
At 31 December 2023 751,799 169,806 32,405
At 31 December 2022 751,799 203,566 35,291

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 92,406 106,935 1,386,889
Additions - 2,751 13,978
At 31 December 2023 92,406 109,686 1,400,867
DEPRECIATION
At 1 January 2023 50,882 62,766 310,540
Charge for year 18,557 13,838 80,268
At 31 December 2023 69,439 76,604 390,808
NET BOOK VALUE
At 31 December 2023 22,967 33,082 1,010,059
At 31 December 2022 41,524 44,169 1,076,349

Cost or valuation at 31 December 2023 is represented by:

Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
Valuation in 2014 86,529 65,288 -
Valuation in 2021 138,821 - -
Cost 526,449 299,514 82,174
751,799 364,802 82,174

EUROGLAZE LIMITED (REGISTERED NUMBER: 06014038)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2014 - - 151,817
Valuation in 2021 - - 138,821
Cost 92,406 109,686 1,110,229
92,406 109,686 1,400,867

If leasehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 524,650 524,650

Value of land in freehold land and buildings 132,000 132,000

Leasehold land and buildings were valued on an open market basis basis on 6 October 2021 by PPH Commercial .

6. STOCKS
2023 2022
£    £   
Stocks 532,252 556,801
Work-in-progress 78,100 36,548
610,352 593,349

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 170,520 196,000
Prepayments 30,451 30,171
200,971 226,171

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 52,900 54,822
Hire purchase contracts and finance leases 43,924 41,559
Trade creditors 367,962 380,176
Tax 80,313 38,990
Social security and other taxes 18,203 15,208
VAT 141,369 92,388
Other creditors 15,439 2,325
Accrued expenses 34,738 25,367
754,848 650,835

EUROGLAZE LIMITED (REGISTERED NUMBER: 06014038)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 52,900 54,822
Bank loans - 2-5 years 64,615 106,869
Bank loans more 5 yr by instal 64,303 69,984
Hire purchase contracts and finance leases 84,384 128,312
266,202 359,987

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 64,303 69,984
Finance leases 2,306 18,306
66,609 88,290

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 234,718 286,497
Hire purchase contracts and finance leases 128,308 169,871
363,026 456,368

Barclays Bank plc held a legal charge over the company property, and a debenture on the banks standard form in respect of the loan to the company. Additionally, the company's director, Mr M Nettleton provided a personal guarantee to the sum of £50,000.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 101,864 103,853

Deferred
tax
£   
Balance at 1 January 2023 103,853
Provided during year (1,989 )
Balance at 31 December 2023 101,864

EUROGLAZE LIMITED (REGISTERED NUMBER: 06014038)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
96 Ordinary A £1 96 96
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
1 Ordinary D £1 1 1
1 Ordinary E £1 1 1
100 100

13. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 236,918

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company's director, Mr M E Nettleton, provided a personal guarantee to the sum of £50,000 in favour of Barclays Bank plc in respect of a property loan advanced to the company.