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REGISTERED NUMBER: 05116623 (England and Wales)










Unaudited Financial Statements for the Year Ended 30 April 2024

for

Jaytec Glass Limited

Jaytec Glass Limited (Registered number: 05116623)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Jaytec Glass Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: J M Bartleet
Mrs S A C Bartleet





REGISTERED OFFICE: Jaytec House
1 Burgess Road
Ivyhouse Lane Industrial Estate
Hastings
East Sussex
TN35 4NR





REGISTERED NUMBER: 05116623 (England and Wales)





ACCOUNTANTS: Granite Morgan Smith Limited
122 Feering Hill
Feering
Colchester
Essex
CO5 9PY

Jaytec Glass Limited (Registered number: 05116623)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 180,517 188,920
Investment property 6 1,572,217 1,215,699
1,752,734 1,404,619

CURRENT ASSETS
Stocks 90,677 95,197
Debtors 7 331,620 386,226
Cash at bank and in hand 707,416 871,384
1,129,713 1,352,807
CREDITORS
Amounts falling due within one year 8 253,509 206,597
NET CURRENT ASSETS 876,204 1,146,210
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,628,938

2,550,829

CREDITORS
Amounts falling due after more than one
year

9

(27,556

)

(80,920

)

PROVISIONS FOR LIABILITIES (52,304 ) (51,867 )
NET ASSETS 2,549,078 2,418,042

CAPITAL AND RESERVES
Called up share capital 228 228
Share premium 2,156,937 2,156,937
Retained earnings 391,913 260,877
SHAREHOLDERS' FUNDS 2,549,078 2,418,042

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Jaytec Glass Limited (Registered number: 05116623)

Balance Sheet - continued
30 April 2024


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 3 October 2024 and were signed on its behalf by:





J M Bartleet - Director


Jaytec Glass Limited (Registered number: 05116623)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Jaytec 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.

The company has sufficient financial resources to support the level of business activity undertaken. As a consequence, the directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Preparation of consolidated financial statements
The financial statements contain information about Jaytec Glass Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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 2004, is being amortised evenly over its estimated useful life of five 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.
Long leasehold - 2% on cost
Plant and machinery - 10% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

The amount of stock recognised as a expense in the year was £234,334 (2023: £322,146).


Jaytec Glass Limited (Registered number: 05116623)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 18 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 203,000
AMORTISATION
At 1 May 2023
and 30 April 2024 203,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

Jaytec Glass Limited (Registered number: 05116623)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 227,250 117,860 345,110
DEPRECIATION
At 1 May 2023 64,168 92,022 156,190
Charge for year 4,190 4,213 8,403
At 30 April 2024 68,358 96,235 164,593
NET BOOK VALUE
At 30 April 2024 158,892 21,625 180,517
At 30 April 2023 163,082 25,838 188,920

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 1,215,699
Additions 356,518
At 30 April 2024 1,572,217
NET BOOK VALUE
At 30 April 2024 1,572,217
At 30 April 2023 1,215,699

The value of the investment property is considered by J Bartleet (director) annually. At the balance sheet date J Bartleet considered the value of the investment property not materially different to the revalued amount.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 218,515 199,240
Other debtors 113,105 186,986
331,620 386,226

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 45,000 45,000
Trade creditors 73,738 69,844
Taxation and social security 90,794 51,553
Other creditors 43,977 40,200
253,509 206,597

Jaytec Glass Limited (Registered number: 05116623)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 27,556 80,920

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

30.4.24 30.4.23
£    £   
J M Bartleet
Balance outstanding at start of year 6,355 -
Amounts advanced - 6,355
Amounts repaid (6,355 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 6,355

Mrs S A C Bartleet
Balance outstanding at start of year 4,965 -
Amounts advanced - 4,965
Amounts repaid (4,965 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 4,965

At the balance sheet date, the company owed the directors £3 (2023: Nil) in respect of their loan accounts. This loan is interest free and repayable on demand.

11. POST BALANCE SHEET EVENTS

No events have occurred since the date of the balance sheet that need to be brought to the attention of shareholders or third parties.

12. ULTIMATE CONTROLLING PARTY

The directors are of the opinion that there is no individual controlling party.