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Registered number: 05319501
K W Glass (Braintree) Ltd
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05319501
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,726 2,302
1,726 2,302
CURRENT ASSETS
Stocks 5 2,000 2,000
Debtors 6 14,244 7,936
Cash at bank and in hand 1,540 11,790
17,784 21,726
Creditors: Amounts Falling Due Within One Year 7 (24,357 ) (20,278 )
NET CURRENT ASSETS (LIABILITIES) (6,573 ) 1,448
TOTAL ASSETS LESS CURRENT LIABILITIES (4,847 ) 3,750
NET (LIABILITIES)/ASSETS (4,847 ) 3,750
CAPITAL AND RESERVES
Called up share capital 8 5 5
Profit and Loss Account (4,852 ) 3,745
SHAREHOLDERS' FUNDS (4,847) 3,750
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Keith Wood
Director
21 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
K W Glass (Braintree) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05319501 . The registered office is Damer House, Meadow Way, Wickford, Essex, SS12 9HA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added taxes, and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Taxation represents the sum of the tax currently payable and deferred tax.
The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
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3. Average Number of Employees
The average number of employees, including directors, during the year was as follows: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 14,000 28,355 1,778 44,133
As at 31 March 2024 14,000 28,355 1,778 44,133
Depreciation
As at 1 April 2023 13,362 26,791 1,678 41,831
Provided during the period 160 391 25 576
As at 31 March 2024 13,522 27,182 1,703 42,407
Net Book Value
As at 31 March 2024 478 1,173 75 1,726
As at 1 April 2023 638 1,564 100 2,302
5. Stocks
2024 2023
£ £
Finished goods 2,000 2,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 994 4,487
Other debtors 13,250 3,449
14,244 7,936
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 979 4,197
Other creditors 17,166 2,338
Taxation and social security 6,212 13,743
24,357 20,278
Page 4
Page 5
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 5 5
Page 5