STARLIGHT DOUBLE GLAZING LIMITED
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 6,999 9,030
Current assets
Stocks 5,950 6,150
Debtors 4 88,046 85,370
Cash at bank and in hand 44,930 20,471
138,926 111,991
Creditors: amounts falling due within one year 5 (101,421) (94,461)
Net current assets 37,505 17,530
Total assets less current liabilities 44,504 26,560
Creditors: amounts falling due after more than one year 6 (7,084) (14,741)
Provisions for liabilities (1,311) (1,692)
Net assets 36,109 10,127
Capital and reserves
Called up share capital 8 8
Profit and loss account 36,101 10,119
Shareholders' funds 36,109 10,127
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
MR. A. HARTSHORN
Director
Approved by the board on 23 September 2024
STARLIGHT DOUBLE GLAZING LIMITED
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 25% reducing balance basis
Office fixtures, fittings and equipment 25% reducing balance basis
Motor vehicles 20% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery Fixtures, fittings tools and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 25,736 750 11,000 37,486
At 31 December 2023 25,736 750 11,000 37,486
Depreciation
At 1 January 2023 21,216 746 6,494 28,456
Charge for the year 1,130 - 901 2,031
At 31 December 2023 22,346 746 7,395 30,487
Net book value
At 31 December 2023 3,390 4 3,605 6,999
At 31 December 2022 4,520 4 4,506 9,030
4 Debtors 2023 2022
£ £
Trade debtors 86,237 83,561
Other debtors 1,809 1,809
88,046 85,370
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loan (unsecured) 5,000 2,342
Obligations under finance lease and hire purchase contracts (secured) - 1,191
Trade creditors 64,374 75,362
Corporation tax 10,528 3,551
Taxes and social security costs 6,325 3,828
Other creditors 15,194 8,187
101,421 94,461
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loan (unsecured) 7,084 14,741
7 Contingent liabilities
There is a contingent liability for remedial work in respect of manufacturing warranties which cannot be estimated. No such liabilities had been notified at the date of the directors' report.
8 Controlling party
The directors of the company at the Balance Sheet date each control 25% of the issued share capital of the company.
9 Other information
STARLIGHT DOUBLE GLAZING LIMITED is a private company limited by shares and incorporated in England (Company Number 04122891). Its registered office is Unit 4, Rosevale Road, Parkhouse Industrial Estate West, Chesterton, Newcastle, Staffordshire, ST5 7EF.
STARLIGHT DOUBLE GLAZING LIMITED 04122891 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts July 2024 MR. A. HARTSHORN No description of principal activity 04122891 2022-01-01 2022-12-31 04122891 core:WithinOneYear 2022-12-31 04122891 core:ShareCapital 2022-12-31 04122891 core:RetainedEarningsAccumulatedLosses 2022-12-31 04122891 core:AfterOneYear 2022-12-31 04122891 2023-01-01 2023-12-31 04122891 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04122891 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04122891 bus:Director40 2023-01-01 2023-12-31 04122891 1 2023-01-01 2023-12-31 04122891 2 2023-01-01 2023-12-31 04122891 core:LandBuildings 2023-01-01 2023-12-31 04122891 core:PlantMachinery 2023-01-01 2023-12-31 04122891 core:Vehicles 2023-01-01 2023-12-31 04122891 countries:England 2023-01-01 2023-12-31 04122891 bus:FRS102 2023-01-01 2023-12-31 04122891 bus:FilletedAccounts 2023-01-01 2023-12-31 04122891 2023-12-31 04122891 core:WithinOneYear 2023-12-31 04122891 core:ShareCapital 2023-12-31 04122891 core:RetainedEarningsAccumulatedLosses 2023-12-31 04122891 core:LandBuildings 2023-12-31 04122891 core:PlantMachinery 2023-12-31 04122891 core:Vehicles 2023-12-31 04122891 core:AfterOneYear 2023-12-31 04122891 2022-12-31 04122891 core:LandBuildings 2022-12-31 04122891 core:PlantMachinery 2022-12-31 04122891 core:Vehicles 2022-12-31 iso4217:GBP xbrli:pure