Company Registration No. 02962055 (England and Wales)
Crystal Doors Limited
Unaudited accounts
for the year ended 31 May 2024
Crystal Doors Limited
Unaudited accounts
Contents
Crystal Doors Limited
Company Information
for the year ended 31 May 2024
Company Number
02962055 (England and Wales)
Registered Office
UNIT ONE
TRANSPENINE TRADING ESTATE
ROCHDALE
OL11 2PX
Accountants
qbx- the quickbooks accountants
South Cottage
Wood Langham
Market Rasen
Lincolnshire
LN8 3QR
Crystal Doors Limited
Statement of financial position
as at 31 May 2024
Tangible assets
450,751
240,819
Inventories
123,125
191,469
Cash at bank and in hand
46,224
136,050
Creditors: amounts falling due within one year
(279,177)
(400,896)
Net current assets
947,748
704,530
Total assets less current liabilities
1,398,499
945,349
Creditors: amounts falling due after more than one year
(402,572)
-
Provisions for liabilities
Net assets
961,039
945,349
Called up share capital
1,000
1,000
Capital redemption reserve
1
1
Profit and loss account
960,038
944,348
Shareholders' funds
961,039
945,349
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 October 2024 and were signed on its behalf by
R S Hagan
Director
Company Registration No. 02962055
Crystal Doors Limited
Notes to the Accounts
for the year ended 31 May 2024
Crystal Doors Limited is a private company, limited by shares, registered in England and Wales, registration number 02962055. The registered office is UNIT ONE, TRANSPENINE TRADING ESTATE, ROCHDALE, OL11 2PX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
At Crystal Doors, our purpose is based on three pillars: people, planet and profit. We believe our future viability as a business depends not only on our financial performance but also on: our role in the local community, supply chain and wider society as a responsible organisation, and our role in mitigating and building resilience to the climate and environmental emergency.
As an Employer
Crystal Doors Limited was sold in November 2023 to become a 100% Employee Owned Trust. Crystal Doors EOT Ltd provides all employees with a stake and profit share in Crystal Doors Ltd.
Richard Hagans vision is to provide security, lifelong learning and career development for all employees. Underpinning employee security, the sale was to enable two significant investments: to provide all employees with an opportunity to buy their own home if renting or seek better homes if already home-owners, without paying more than the cost of their current home. Funding is from a joint mortgage from the asset value of Crystal Door factory premises.
Personally, Richard Hagan has begun the build of his own home, less than a mile from the factory and with the aim of becoming Rochdales sustainability education experience.
As a custodian of the environment.
We are strongly committed to protecting the environment for future generations and continually improving our environmental performance. Gaining B Corp in April 2023 with a score within the world's top 5% at 130 points. Through our Managing Director, we are taking a lead role in the business community to encourage wider action. Environmental resilience. Customers and Suppliers are encouraged to register their environmental ambitions through our online portal and support is available through our free knowledge base at www.crystaldoors.co.uk/carbon-neutral.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% per annum on cost
Plant & machinery
20% per annum on cost
Motor vehicles
25% per annum on net book value
Fixtures & fittings
17% per annum on cost
Computer equipment
33% per annum on cost
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Crystal Doors Limited
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 June 2023
304,760
2,735,822
245,821
141,090
178,080
3,605,573
Additions
-
353,495
33,360
-
-
386,855
Disposals
-
-
(33,360)
-
-
(33,360)
At 31 May 2024
304,760
3,089,317
245,821
141,090
178,080
3,959,068
At 1 June 2023
231,761
2,640,221
188,903
135,544
168,325
3,364,754
Charge for the year
12,479
109,303
14,230
1,925
5,626
143,563
At 31 May 2024
244,240
2,749,524
203,133
137,469
173,951
3,508,317
At 31 May 2024
60,520
339,793
42,688
3,621
4,129
450,751
At 31 May 2023
72,999
95,601
56,918
5,546
9,755
240,819
Amounts falling due within one year
Trade debtors
177,997
164,292
Amounts due from group undertakings etc.
851,205
258,858
Accrued income and prepayments
18,054
32,854
Other debtors
10,320
321,903
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
22,428
-
Obligations under finance leases and hire purchase contracts
-
13,667
Trade creditors
121,858
194,162
Taxes and social security
56,198
86,883
Other creditors
35,461
45,443
7
Creditors: amounts falling due after more than one year
2024
2023
8
Average number of employees
During the year the average number of employees was 24 (2023: 28).