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REGISTERED NUMBER: 07949956 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 29 February 2024

for

Glass Structures Limited

Glass Structures Limited (Registered number: 07949956)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Glass Structures Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr P J Balman
Mr P B Balman
Mr T D Mccarthy
Mr D Zaturskis





REGISTERED OFFICE: C/o BSM (UK) Accounants
Unit 9, Creekmouth Industrial Estate
57 River Road
Barking
Essex
IG11 0DA





REGISTERED NUMBER: 07949956 (England and Wales)





ACCOUNTANTS: BSM (U.K) Accountants Ltd
Unit 9 Creekmouth Industrial Estate
57 River Road
Barking
Essex
IG11 0DA

Glass Structures Limited (Registered number: 07949956)

Report of the Directors
for the Year Ended 29 February 2024

The directors present their report with the financial statements of the company for the year ended 29 February 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 March 2023 to the date of this report.

Mr P J Balman
Mr P B Balman
Mr T D Mccarthy
Mr D Zaturskis

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr P B Balman - Director


22 August 2024

Glass Structures Limited (Registered number: 07949956)

Income Statement
for the Year Ended 29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   

TURNOVER 2,648,515 2,103,738

Cost of sales 1,969,409 1,445,225
GROSS PROFIT 679,106 658,513

Distribution costs 63,616 8,429
Administrative expenses 498,475 554,153
562,091 562,582
OPERATING PROFIT 4 117,015 95,931

Interest receivable and similar income 72 -
117,087 95,931

Interest payable and similar expenses 34,375 19,681
PROFIT BEFORE TAXATION 82,712 76,250

Tax on profit 13,523 (10,439 )
PROFIT FOR THE FINANCIAL YEAR 69,189 86,689

Glass Structures Limited (Registered number: 07949956)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 113,814 109,968

CURRENT ASSETS
Stocks 43,500 40,000
Debtors 6 167,798 165,636
Cash at bank 15,532 20,873
226,830 226,509
CREDITORS
Amounts falling due within one year 7 271,355 183,587
NET CURRENT (LIABILITIES)/ASSETS (44,525 ) 42,922
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,289

152,890

CREDITORS
Amounts falling due after more than one year 8 - 10,000
NET ASSETS 69,289 142,890

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 69,189 142,790
69,289 142,890

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

Glass Structures Limited (Registered number: 07949956)

Balance Sheet - continued
29 February 2024


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

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:





Mr P B Balman - Director


Glass Structures Limited (Registered number: 07949956)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Glass Structures 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

Glass Structures Limited (Registered number: 07949956)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. OPERATING PROFIT

The operating profit is stated after charging:

29.2.24 28.2.23
£    £   
Depreciation - owned assets 28,453 24,132

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 109,968
Additions 32,299
At 29 February 2024 142,267
DEPRECIATION
Charge for year 28,453
At 29 February 2024 28,453
NET BOOK VALUE
At 29 February 2024 113,814
At 28 February 2023 109,968

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 120,761 165,636
Other debtors 47,037 -
167,798 165,636

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts - 70,842
Trade creditors 99,732 -
Taxation and social security 13,523 4,612
Other creditors 158,100 108,133
271,355 183,587

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts - 10,000