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REGISTERED NUMBER: 04741703 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

GLASS SERVICES (HOLDINGS) LIMITED

GLASS SERVICES (HOLDINGS) LIMITED (REGISTERED NUMBER: 04741703)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GLASS SERVICES (HOLDINGS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: B R Williams





REGISTERED OFFICE: The Glass Works
Wotton Road Kingsnorth Ind Est
Ashford
Kent
TN23 6LN





REGISTERED NUMBER: 04741703 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
Invicta Business Centre
Monument Way
Orbital Park
Ashford
Kent
TN24 0HB

GLASS SERVICES (HOLDINGS) LIMITED (REGISTERED NUMBER: 04741703)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,632,960 1,797,063
Investments 6 5,000 5,000
1,637,960 1,802,063

CURRENT ASSETS
Debtors 7 5,304 304
Cash at bank 345,963 344,948
351,267 345,252
CREDITORS
Amounts falling due within one year 8 119,655 58,081
NET CURRENT ASSETS 231,612 287,171
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,869,572

2,089,234

CREDITORS
Amounts falling due after more than one
year

9

(688,516

)

(788,279

)

PROVISIONS FOR LIABILITIES (244,723 ) (270,086 )
NET ASSETS 936,333 1,030,869

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 931,333 1,025,869
936,333 1,030,869

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 director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 September 2024 and were signed by:



B R Williams - Director


GLASS SERVICES (HOLDINGS) LIMITED (REGISTERED NUMBER: 04741703)

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

1. STATUTORY INFORMATION

Glass Services (Holdings) 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.
Land and buildings - 2% straight line
Plant and machinery etc - 25% on reducing balance, 25% on a straight line basis and 10% on a straight line basis

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
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 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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

GLASS SERVICES (HOLDINGS) LIMITED (REGISTERED NUMBER: 04741703)

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

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 890,657 2,397,939 118,036 55,545 3,462,177
Additions - 22,590 18,990 - 41,580
Disposals - (37,984 ) - - (37,984 )
At 31 December 2023 890,657 2,382,545 137,026 55,545 3,465,773
DEPRECIATION
At 1 January 2023 218,774 1,296,520 104,173 45,647 1,665,114
Charge for year 17,814 139,441 7,425 3,019 167,699
At 31 December 2023 236,588 1,435,961 111,598 48,666 1,832,813
NET BOOK VALUE
At 31 December 2023 654,069 946,584 25,428 6,879 1,632,960
At 31 December 2022 671,883 1,101,419 13,863 9,898 1,797,063

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 5,000
NET BOOK VALUE
At 31 December 2023 5,000
At 31 December 2022 5,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 5,304 304

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 99,097 37,938
Taxation and social security 18,158 17,943
Other creditors 2,400 2,200
119,655 58,081

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 688,516 788,279

GLASS SERVICES (HOLDINGS) LIMITED (REGISTERED NUMBER: 04741703)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 787,613 826,217

The bank loan included within creditors falling due within one year and creditors falling due after more than one year is secured by way of a legal charge over the freehold property owned by Glass Services (Holdings) Limited, a guarantee for £900,000 provided by the company's subsidiary Glass Services Limited, and is supported by debentures over the assets of Glass Services (Holdings) Limited and Glass Services Limited.