Caseware UK (AP4) 2023.0.135 2023.0.135 truefalse2023-01-01No description of principal activity1414trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00614427 2023-01-01 2023-12-31 00614427 2022-01-01 2022-12-31 00614427 2023-12-31 00614427 2022-12-31 00614427 c:Director1 2023-01-01 2023-12-31 00614427 d:Buildings 2023-01-01 2023-12-31 00614427 d:Buildings 2023-12-31 00614427 d:Buildings 2022-12-31 00614427 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00614427 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 00614427 d:PlantMachinery 2023-01-01 2023-12-31 00614427 d:MotorVehicles 2023-01-01 2023-12-31 00614427 d:FurnitureFittings 2023-01-01 2023-12-31 00614427 d:ComputerEquipment 2023-01-01 2023-12-31 00614427 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 00614427 d:OtherPropertyPlantEquipment 2023-12-31 00614427 d:OtherPropertyPlantEquipment 2022-12-31 00614427 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00614427 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00614427 d:CurrentFinancialInstruments 2023-12-31 00614427 d:CurrentFinancialInstruments 2022-12-31 00614427 d:Non-currentFinancialInstruments 2023-12-31 00614427 d:Non-currentFinancialInstruments 2022-12-31 00614427 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00614427 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00614427 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 00614427 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 00614427 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 00614427 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 00614427 d:ShareCapital 2023-12-31 00614427 d:ShareCapital 2022-12-31 00614427 d:CapitalRedemptionReserve 2023-12-31 00614427 d:CapitalRedemptionReserve 2022-12-31 00614427 d:RetainedEarningsAccumulatedLosses 2023-12-31 00614427 d:RetainedEarningsAccumulatedLosses 2022-12-31 00614427 c:FRS102 2023-01-01 2023-12-31 00614427 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 00614427 c:FullAccounts 2023-01-01 2023-12-31 00614427 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00614427 2 2023-01-01 2023-12-31 00614427 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 00614427 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 00614427 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 00614427









PARGLAS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

For the Year Ended 31 December 2023

 
PARGLAS LIMITED
Registered number: 00614427

BALANCE SHEET
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
628,163
651,814

  
628,163
651,814

Current assets
  

Stocks
  
58,949
72,356

Debtors: amounts falling due within one year
 5 
164,466
178,368

Cash at bank and in hand
 6 
206,946
372,573

  
430,361
623,297

Creditors: amounts falling due within one year
 7 
(70,773)
(102,976)

Net current assets
  
 
 
359,588
 
 
520,321

Total assets less current liabilities
  
987,751
1,172,135

Creditors: amounts falling due after more than one year
 8 
(13,762)
(203,481)

Provisions for liabilities
  

Deferred tax
 10 
(14,773)
(18,010)

  
 
 
(14,773)
 
 
(18,010)

Net assets
  
959,216
950,644


Capital and reserves
  

Called up share capital 
  
312
312

Capital redemption reserve
  
313
313

Profit and loss account
  
958,591
950,019

  
959,216
950,644


Page 1

 
PARGLAS LIMITED
Registered number: 00614427
    
BALANCE SHEET (CONTINUED)
As at 31 December 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

D.J.Elston
Director

Date: 9 October 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
PARGLAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

1.


General information

Parglas Ltd is a private company limited by shares incorporated in England within the United Kingdom.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
PARGLAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
PARGLAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases.


Freehold buildings
-
2% straight line
Short-term leasehold property
-
2% straight line
Plant and machinery
-
10-15% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
15% reducing balance
Computer equipment
-
33.3% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
PARGLAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2022 - 14).

Page 6

 
PARGLAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

4.


Tangible fixed assets





Land and buildings
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 January 2023
601,198
506,747
1,107,945


Additions
-
4,495
4,495


Disposals
-
(8,032)
(8,032)



At 31 December 2023

601,198
503,210
1,104,408



Depreciation


At 1 January 2023
60,536
395,596
456,132


Charge for the year on owned assets
7,681
18,358
26,039


Disposals
-
(5,926)
(5,926)



At 31 December 2023

68,217
408,028
476,245



Net book value



At 31 December 2023
532,981
95,182
628,163



At 31 December 2022
540,662
111,152
651,814

Page 7

 
PARGLAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

5.


Debtors

2023
2022
£
£


Trade debtors
152,465
164,900

Other debtors
-
1,161

Prepayments and accrued income
12,001
12,307

164,466
178,368



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
206,946
372,573

206,946
372,573



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
11,188
16,214

Trade creditors
7,970
54,472

Corporation tax
3,782
-

Other taxation and social security
32,525
17,828

Other creditors
1,958
4,022

Accruals and deferred income
13,350
10,440

70,773
102,976



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
13,762
203,481

13,762
203,481


Page 8

 
PARGLAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

9.


Loans


2023
2022
£
£

Amounts falling due within one year

Bank loans
11,188
16,214


11,188
16,214

Amounts falling due 1-2 years

Bank loans
13,762
203,481


13,762
203,481



24,950
219,695



10.


Deferred taxation




2023


£






At beginning of year
(18,010)


Charge to profit or loss
3,237



At end of year
(14,773)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(14,773)
(18,010)

(14,773)
(18,010)

Page 9

 
PARGLAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £16,433 (2022 - £16,487). Contributions totalling £1,156 (2022 - £2,141) were payable to the fund at the balance sheet date.

 
Page 10