Sander Glass Limited 09542302 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of the importation and wholesale distribution of glass and mirror. Digita Accounts Production Advanced 6.30.9574.0 true true 09542302 2023-04-01 2024-03-31 09542302 2024-03-31 09542302 core:CurrentFinancialInstruments 2024-03-31 09542302 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09542302 core:Non-currentFinancialInstruments 2024-03-31 09542302 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 09542302 core:Goodwill 2024-03-31 09542302 core:FurnitureFittingsToolsEquipment 2024-03-31 09542302 core:OtherPropertyPlantEquipment 2024-03-31 09542302 bus:SmallEntities 2023-04-01 2024-03-31 09542302 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09542302 bus:FilletedAccounts 2023-04-01 2024-03-31 09542302 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09542302 bus:RegisteredOffice 2023-04-01 2024-03-31 09542302 bus:Director1 2023-04-01 2024-03-31 09542302 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09542302 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 09542302 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 09542302 core:PlantMachinery 2023-04-01 2024-03-31 09542302 countries:EnglandWales 2023-04-01 2024-03-31 09542302 2023-03-31 09542302 core:Goodwill 2023-03-31 09542302 core:FurnitureFittingsToolsEquipment 2023-03-31 09542302 core:OtherPropertyPlantEquipment 2023-03-31 09542302 2022-04-01 2023-03-31 09542302 2023-03-31 09542302 core:CurrentFinancialInstruments 2023-03-31 09542302 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09542302 core:Non-currentFinancialInstruments 2023-03-31 09542302 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 09542302 core:Goodwill 2023-03-31 09542302 core:FurnitureFittingsToolsEquipment 2023-03-31 09542302 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 09542302

Sander Glass Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

Brebners
Chartered Accountants
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

Sander Glass Limited

Statement of Financial Position as at 31 March 2024

Note


 
2024
£


 
2023
£

Fixed assets

 

Tangible assets

6

4,097

6,441

Current assets

 

Stocks

7

218,584

417,318

Debtors

8

261,936

280,221

Cash at bank and in hand

 

119,209

85,614

 

599,729

783,153

Creditors: Amounts falling due within one year

9

(359,408)

(336,401)

Net current assets

 

240,321

446,752

Total assets less current liabilities

 

244,418

453,193

Creditors: Amounts falling due after more than one year

9

(11,791)

(21,740)

Provisions for liabilities

(1,024)

(1,610)

Net assets

 

231,603

429,843

Capital and reserves

 

Called up share capital

2

2

Retained earnings

231,601

429,841

Shareholders' funds

 

231,603

429,843

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

 

Sander Glass Limited

Statement of Financial Position as at 31 March 2024

Approved and authorised by the director on 26 November 2024
 

.........................................

Mr A Dochoda

Director

Company registration number: 09542302

 

Sander Glass Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
c/o Brebners
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

The principal activity of the company is that of the importation and wholesale distribution of glass and mirror.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Going concern

The company made a loss for the year to 31 March 2024. However, net assets amounted to £231,603 at that date which included cash at bank of £119,209 and the directors anticipate an improvement in business activity in the following year. The company continues to meet its liabilities as they fall due, and the directors will support the company where necessary.

On the basis of the above and after making enquiries, the directors have a reasonable expectation that the company has adequate resources in place to continue in operational existence. Accordingly they continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue at the point of sale to customers.

 

Sander Glass Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20% Reducing balance and 3 years Straight Line

Plant and equipment

20% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Sander Glass Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight line basis.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year was 5 (2023 - 4).

 

Sander Glass Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

4

Loss/profit before tax

Arrived at after charging/(crediting)


 
2024
£

2023
£

Depreciation expense

2,344

2,359

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

1

1

At 31 March 2024

1

1

Amortisation

At 1 April 2023

1

1

At 31 March 2024

1

1

Carrying amount

At 31 March 2024

-

-

At 31 March 2023

-

-

6

Tangible assets

Furniture, fittings and equipment
 £

Plant and equipment
£

Total
£

Cost or valuation

At 1 April 2023

11,863

5,149

17,012

At 31 March 2024

11,863

5,149

17,012

Depreciation

At 1 April 2023

7,857

2,714

10,571

Charge for the year

1,857

487

2,344

At 31 March 2024

9,714

3,201

12,915

Carrying amount

At 31 March 2024

2,149

1,948

4,097

At 31 March 2023

4,006

2,435

6,441

 

Sander Glass Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

7

Stocks


 
2024
£


 
2023
£

Stock

218,584

417,318

8

Debtors


 
2024
£


 
2023
£

Trade debtors

158,695

280,221

Other debtors

103,241

-

261,936

280,221

9

Creditors

Creditors: amounts falling due within one year

Note


 
2024
£


 
2023
£

Loans and borrowings

10

10,648

10,648

Trade creditors

 

314,865

236,952

Taxation and social security

 

29,938

73,592

Other creditors

 

3,957

15,209

 

359,408

336,401

Due after one year

 

Loans and borrowings

10

11,791

21,740

10

Loans and borrowings


 
2024
£


 
2023
£

Current loans and borrowings

Bank loan

10,648

10,648


 
2024
£


 
2023
£

Non-current loans and borrowings

Bank loan

11,791

21,740

 

Sander Glass Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

11

Financial commitments, guarantees and contingencies

The total amount of financial commitments not included in the statement of financial position is £25,000 (2023 - £50,000).

12

Transactions with directors

At 31 March 2024 an amount of £61,814 (2023: £Nil) was due from the directors. During the year advances of £116,076 and repayments of £55,205 were made. Interest of £943 (2023: £Nil) has been charged at a rate of 2.25% per annum. There are no agreed terms in place.