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2023-06-01
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Company registration number:
14138664
WILTSHIRE GLASS & GLAZING LIMITED
Unaudited filleted financial statements
31 May 2024
WILTSHIRE GLASS & GLAZING LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
WILTSHIRE GLASS & GLAZING LIMITED
Directors and other information
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Director |
Timothy Newman |
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Company number |
14138664 |
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Registered office |
21 Silman Close |
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Corsham |
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Wiltshire |
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SN13 0RG |
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Accountants |
J W Swales & Co Limited |
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The Grange |
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The Street |
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Yatton Keynell |
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SN14 7BA |
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WILTSHIRE GLASS & GLAZING LIMITED
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of WILTSHIRE GLASS & GLAZING LIMITED
Year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of WILTSHIRE GLASS & GLAZING LIMITED for the year ended 31 May 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of WILTSHIRE GLASS & GLAZING LIMITED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of WILTSHIRE GLASS & GLAZING LIMITED and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than WILTSHIRE GLASS & GLAZING LIMITED and its director as a body for our work or for this report.
It is your duty to ensure that WILTSHIRE GLASS & GLAZING LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of WILTSHIRE GLASS & GLAZING LIMITED. You consider that WILTSHIRE GLASS & GLAZING LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of WILTSHIRE GLASS & GLAZING LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
J W Swales & Co Limited
The Grange
The Street
Yatton Keynell
SN14 7BA
23 September 2024
WILTSHIRE GLASS & GLAZING LIMITED
Statement of financial position
31 May 2024
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31/05/24 |
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31/05/23 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
4,572 |
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4,736 |
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_______ |
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_______ |
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4,572 |
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4,736 |
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Current assets |
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Stocks |
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3,600 |
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326 |
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Debtors |
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6 |
27,069 |
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12,927 |
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Cash at bank and in hand |
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41,381 |
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28,905 |
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_______ |
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_______ |
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72,050 |
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42,158 |
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Creditors: amounts falling due |
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within one year |
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7 |
(
67,559) |
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(
39,330) |
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_______ |
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_______ |
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Net current assets |
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4,491 |
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2,828 |
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_______ |
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_______ |
Total assets less current liabilities |
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9,063 |
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7,564 |
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Provisions for liabilities |
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(
823) |
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852 |
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_______ |
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_______ |
Net assets |
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8,240 |
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8,416 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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10 |
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10 |
Profit and loss account |
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8,230 |
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8,406 |
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_______ |
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_______ |
Shareholders funds |
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8,240 |
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8,416 |
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_______ |
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_______ |
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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.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
23 September 2024
, and are signed on behalf of the board by:
Timothy Newman
Director
Company registration number:
14138664
WILTSHIRE GLASS & GLAZING LIMITED
Statement of changes in equity
Year ended 31 May 2024
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Called up share capital |
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Profit and loss account |
Total |
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£ |
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£ |
£ |
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At 28 May 2022 |
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- |
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- |
- |
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Profit for the year |
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12,406 |
12,406 |
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_______ |
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_______ |
_______ |
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Total comprehensive income for the year |
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- |
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12,406 |
12,406 |
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Issue of shares |
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10 |
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10 |
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Dividends paid and payable |
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(
4,000) |
(
4,000) |
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_______ |
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_______ |
_______ |
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Total investments by and distributions to owners |
|
10 |
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(
4,000) |
(
3,990) |
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_______ |
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_______ |
_______ |
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At 31 May 2023 and 1 June 2023 |
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10 |
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8,406 |
8,416 |
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Profit for the year |
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36,924 |
36,924 |
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_______ |
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_______ |
_______ |
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Total comprehensive income for the year |
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- |
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36,924 |
36,924 |
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Dividends paid and payable |
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(
37,100) |
(
37,100) |
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_______ |
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_______ |
_______ |
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Total investments by and distributions to owners |
|
- |
|
(
37,100) |
(
37,100) |
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_______ |
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_______ |
_______ |
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At 31 May 2024 |
|
10 |
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8,230 |
8,240 |
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_______ |
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_______ |
_______ |
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WILTSHIRE GLASS & GLAZING LIMITED
Notes to the financial statements
Year ended 31 May 2024
1.
General information
The company is a private company limited by shares, registered in ENGLAND. The address of the registered office is 21 Silman Close, Corsham, Wiltshire, SN13 0RG.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured as the fair value of the consideration received or receivable; excluding discounts, rebates, value added tax and other sales taxes.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in statement of comprehensive income.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the employee related service is provided.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2023:
1
).
5.
Tangible assets
|
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Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Tangible assets - user defined |
Total |
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|
£ |
£ |
£ |
£ |
£ |
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Cost |
|
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At 1 June 2023 |
1,929 |
696 |
1,600 |
1,307 |
5,532 |
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Additions |
1,257 |
- |
- |
- |
1,257 |
|
|
|
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_______ |
_______ |
_______ |
_______ |
_______ |
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At 31 May 2024 |
3,186 |
696 |
1,600 |
1,307 |
6,789 |
|
|
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|
_______ |
_______ |
_______ |
_______ |
_______ |
|
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Depreciation |
|
|
|
|
|
|
|
|
At 1 June 2023 |
161 |
87 |
350 |
198 |
796 |
|
|
|
Charge for the year |
521 |
152 |
313 |
435 |
1,421 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 May 2024 |
682 |
239 |
663 |
633 |
2,217 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
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|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 May 2024 |
2,504 |
457 |
937 |
674 |
4,572 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 May 2023 |
1,768 |
609 |
1,250 |
1,109 |
4,736 |
|
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|
_______ |
_______ |
_______ |
_______ |
_______ |
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6.
Debtors
|
|
|
31/05/24 |
31/05/23 |
|
|
|
£ |
£ |
|
Trade debtors |
|
27,069 |
12,927 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
31/05/24 |
31/05/23 |
|
|
|
£ |
£ |
|
Trade creditors |
|
1,480 |
1,803 |
|
Corporation tax |
|
9,123 |
1,322 |
|
Social security and other taxes |
|
1,096 |
3,585 |
|
Other creditors |
|
55,860 |
32,620 |
|
|
|
_______ |
_______ |
|
|
|
67,559 |
39,330 |
|
|
|
_______ |
_______ |
|
|
|
|
|