Registered number
06698467
Somerglaze Windows Ltd
Filleted Accounts
31 March 2024
Somerglaze Windows Ltd
Registered number: 06698467
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 33,998 39,742
Current assets
Stocks 600 600
Debtors 4 33,398 699
Cash at bank and in hand 68,182 20,352
102,180 21,651
Creditors: amounts falling due within one year 5 (102,005) (26,630)
Net current assets/(liabilities) 175 (4,979)
Total assets less current liabilities 34,173 34,763
Provisions for liabilities (4,261) (4,935)
Net assets 29,912 29,828
Capital and reserves
Called up share capital 100 100
Profit and loss account 29,812 29,728
Shareholders' funds 29,912 29,828
The director is 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 director acknowledges his 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 Gary Hembrow
Director
Approved by the board on 3 October 2024
Somerglaze Windows Ltd
Notes to the Accounts
for the year ended 31 March 2024
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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor Vehicles 25% reducing balance
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 13,766 41,844 29,033 84,643
Additions - - 1,000 1,000
At 31 March 2024 13,766 41,844 30,033 85,643
Depreciation
At 1 April 2023 - 32,199 12,702 44,901
Charge for the year - 2,411 4,333 6,744
At 31 March 2024 - 34,610 17,035 51,645
Net book value
At 31 March 2024 13,766 7,234 12,998 33,998
At 31 March 2023 13,766 9,645 16,331 39,742
4 Debtors 2024 2023
£ £
Trade debtors 33,398 699
5 Creditors: amounts falling due within one year 2024 2023
£ £
Directors loan account 1,443 1,254
Trade creditors 20,074 11,766
Taxation and social security costs 27,143 12,610
Other creditors 53,345 1,000
102,005 26,630
6 Other information
Somerglaze Windows Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Panborough House
Panborough
Wells
Somerset
BA5 1PN
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