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Company registration number: 09408673
Boldmere Glazing Company Limited
Unaudited filleted financial statements
29 February 2024
Boldmere Glazing Company Limited
Contents
Directors and other information
Accountant's report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Boldmere Glazing Company Limited
Directors and other information
Director Mr M Lord
Company number 09408673
Registered office 359 Boldmere Road
Sutton Coldfield
West Midlands
B73 5HE
Accountant J Pedley-Smith
38 Newick Avenue
Sutton Coldfield
West Midlands
B74 3DA
Boldmere Glazing Company Limited
Report to the director on the preparation of the
unaudited statutory financial statements of Boldmere Glazing Company Limited
Year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Boldmere Glazing Company Limited for the year ended 29 February 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Association of Chartered Certified Accountants , I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the director of Boldmere Glazing Company Limited, as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of Boldmere Glazing Company Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Boldmere Glazing Company Limited and its director as a body for my work or for this report.
It is your duty to ensure that Boldmere Glazing Company 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 Boldmere Glazing Company Limited. You consider that Boldmere Glazing Company Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Boldmere Glazing Company Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
J Pedley-Smith
Chartered Certified Accountant
38 Newick Avenue
Sutton Coldfield
West Midlands
B74 3DA
11 September 2024
Boldmere Glazing Company Limited
Statement of financial position
29 February 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 7,420 9,894
_______ _______
7,420 9,894
Current assets
Stocks 700 100
Debtors 6 4,419 3,832
Cash at bank and in hand 34,622 26,111
_______ _______
39,741 30,043
Creditors: amounts falling due
within one year 7 ( 30,575) ( 19,749)
_______ _______
Net current assets 9,166 10,294
_______ _______
Total assets less current liabilities 16,586 20,188
Provisions for liabilities ( 1,410) ( 1,880)
_______ _______
Net assets 15,176 18,308
_______ _______
Capital and reserves
Called up share capital 8 10 10
Profit and loss account 15,166 18,298
_______ _______
Shareholder funds 15,176 18,308
_______ _______
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 11 September 2024 , and are signed on behalf of the board by:
Mr M Lord
Director
Company registration number: 09408673
Boldmere Glazing Company Limited
Statement of changes in equity
Year ended 29 February 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 March 2022 10 19,348 19,358
Profit for the year 46,372 46,372
_______ _______ _______
Total comprehensive income for the year - 46,372 46,372
Dividends paid and payable ( 47,422) ( 47,422)
_______ _______ _______
Total investments by and distributions to owners - ( 47,422) ( 47,422)
_______ _______ _______
At 28 February 2023 and 1 March 2023 10 18,298 18,308
Profit for the year 44,000 44,000
_______ _______ _______
Total comprehensive income for the year - 44,000 44,000
Dividends paid and payable ( 47,132) ( 47,132)
_______ _______ _______
Total investments by and distributions to owners - ( 47,132) ( 47,132)
_______ _______ _______
At 29 February 2024 10 15,166 15,176
_______ _______ _______
Boldmere Glazing Company Limited
Notes to the financial statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 359 Boldmere Road, Sutton Coldfield, West Midlands, B73 5HE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland.The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 3 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 March 2023 and 29 February 2024 1,081 18,015 19,096
_______ _______ _______
Depreciation
At 1 March 2023 898 8,304 9,202
Charge for the year 46 2,428 2,474
_______ _______ _______
At 29 February 2024 944 10,732 11,676
_______ _______ _______
Carrying amount
At 29 February 2024 137 7,283 7,420
_______ _______ _______
At 28 February 2023 183 9,711 9,894
_______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 3,446 3,174
Other debtors 973 658
_______ _______
4,419 3,832
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 8,179 411
Corporation tax 11,420 11,535
Social security and other taxes 6,644 6,673
Other creditors 4,332 1,130
_______ _______
30,575 19,749
_______ _______
8. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 10 10 10 10
_______ _______ _______ _______
9. Related party transactions
Other creditors includes a loan made to the company from the Director amounting to £3,220. This loan is interest free and repayable on demand.