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REGISTERED NUMBER: NI012222 (Northern Ireland)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

EXCEL GLASS LIMITED

EXCEL GLASS LIMITED (REGISTERED NUMBER: NI012222)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


EXCEL GLASS LIMITED (REGISTERED NUMBER: NI012222)

Balance Sheet
31 MARCH 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 920,683 972,460
Investment property 5 420,000 420,000
1,340,683 1,392,460

CURRENT ASSETS
Stocks 339,600 356,700
Debtors 6 520,417 383,030
Cash at bank and in hand 656,943 855,005
1,516,960 1,594,735
CREDITORS
Amounts falling due within one year 7 272,683 360,232
NET CURRENT ASSETS 1,244,277 1,234,503
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,584,960

2,626,963

CREDITORS
Amounts falling due after more than one
year

8

(18,333

)

(28,333

)

PROVISIONS FOR LIABILITIES (19,821 ) (19,277 )
NET ASSETS 2,546,806 2,579,353

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Fair value reserve 9 637,139 637,139
Non-distributable reserves 250,000 250,000
Retained earnings 1,559,667 1,592,214
SHAREHOLDERS' FUNDS 2,546,806 2,579,353

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.

EXCEL GLASS LIMITED (REGISTERED NUMBER: NI012222)

Balance Sheet - continued
31 MARCH 2024


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

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 30 October 2024 and were signed on its behalf by:




Mr James Maguire - Director



Mr Robin Carroll - Director


EXCEL GLASS LIMITED (REGISTERED NUMBER: NI012222)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Excel Glass Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address are as below:

Registered number: NI012222

Registered office: Musgrave Park Industrial Estate
Stockmans Way
Belfast
BT9 7ET

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.
Land and buildings - 4% on cost
Plant and machinery etc - 25% on cost and 15% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

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.


EXCEL GLASS LIMITED (REGISTERED NUMBER: NI012222)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 39 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 1,068,722 2,513,306 3,582,028
Additions - 61,898 61,898
Disposals (14,989 ) - (14,989 )
At 31 March 2024 1,053,733 2,575,204 3,628,937
DEPRECIATION
At 1 April 2023 312,600 2,296,968 2,609,568
Charge for year 39,000 59,686 98,686
At 31 March 2024 351,600 2,356,654 2,708,254
NET BOOK VALUE
At 31 March 2024 702,133 218,550 920,683
At 31 March 2023 756,122 216,338 972,460

EXCEL GLASS LIMITED (REGISTERED NUMBER: NI012222)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 420,000
NET BOOK VALUE
At 31 March 2024 420,000
At 31 March 2023 420,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 372,097 271,881
Other debtors 148,320 111,149
520,417 383,030

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 130,164 211,092
Taxation and social security 91,195 59,413
Other creditors 41,324 79,727
272,683 360,232

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans 18,333 28,333

9. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 637,139

EXCEL GLASS LIMITED (REGISTERED NUMBER: NI012222)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31/3/24 31/3/23
£    £   
Mr Robin Carroll
Balance outstanding at start of year 7,000 -
Amounts advanced (7,000 ) 12,000
Amounts repaid - (5,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 7,000

The loan was repaid in full subsequent to the year end.