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REGISTERED NUMBER: 00743609 (England and Wales)














ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

INSTRUMENT GLASSES LIMITED

INSTRUMENT GLASSES LIMITED (REGISTERED NUMBER: 00743609)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


INSTRUMENT GLASSES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr R J Botterman
Mr S J Joiner





REGISTERED OFFICE: c/o Michael Filiou Ltd
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS





REGISTERED NUMBER: 00743609 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS

INSTRUMENT GLASSES LIMITED (REGISTERED NUMBER: 00743609)

ABRIDGED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 2,244,669 2,344,007
Investments 7 34,158 34,158
2,278,827 2,378,165

CURRENT ASSETS
Stocks 333,855 353,250
Debtors 8 423,769 579,549
Cash at bank and in hand 1,106,317 968,054
1,863,941 1,900,853
CREDITORS
Amounts falling due within one year 320,437 434,457
NET CURRENT ASSETS 1,543,504 1,466,396
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,822,331

3,844,561

CREDITORS
Amounts falling due after more than one year 9 (15,833 ) (80,912 )

PROVISIONS FOR LIABILITIES (248,701 ) (204,815 )
NET ASSETS 3,557,797 3,558,834

INSTRUMENT GLASSES LIMITED (REGISTERED NUMBER: 00743609)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 3,500 3,500
Fair value reserve 442,678 478,092
Retained earnings 3,111,619 3,077,242
SHAREHOLDERS' FUNDS 3,557,797 3,558,834

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 11 October 2024 and were signed on its behalf by:




Mr S J Joiner - Director



Mr R J Botterman - Director


INSTRUMENT GLASSES LIMITED (REGISTERED NUMBER: 00743609)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Instrument Glasses 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Instrument Glasses 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.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Website costs - 33% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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


INSTRUMENT GLASSES LIMITED (REGISTERED NUMBER: 00743609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2023 - 37 ) .

INSTRUMENT GLASSES LIMITED (REGISTERED NUMBER: 00743609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 31,750
AMORTISATION
At 1 April 2023
and 31 March 2024 31,750
NET BOOK VALUE

At 31 March 2024 -
At 31 March 2023 -

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 5,698,612
Additions 24,660
Disposals (7,990 )
At 31 March 2024 5,715,282
DEPRECIATION
At 1 April 2023 3,354,605
Charge for year 123,198
Eliminated on disposal (7,190 )
At 31 March 2024 3,470,613
NET BOOK VALUE
At 31 March 2024 2,244,669
At 31 March 2023 2,344,007

The historical cost of freehold property is £1,185,107.

INSTRUMENT GLASSES LIMITED (REGISTERED NUMBER: 00743609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2023 726,751
Transfer to ownership (726,751 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 623,256
Transfer to ownership (623,256 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 103,495

7. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 April 2023
and 31 March 2024 34,158
NET BOOK VALUE
At 31 March 2024 34,158
At 31 March 2023 34,158

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Piper Toughened Glass Limited
Registered office: United Kingdom
Nature of business: Cut and toughened glass
%
Class of shares: holding
Ordinary 65.00

INSTRUMENT GLASSES LIMITED (REGISTERED NUMBER: 00743609)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other debtors 10,528 19,146

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans more than five
years - 80,912
- 80,912

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 121,206

11. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
3,500 Ordinary shares £1 3,500 3,500

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director Mr Robert Botterman by virtue of the fact that he holds 75% of the issued share capital of the company.