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REGISTERED NUMBER: 04701883 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Knowsley Art Glass Limited

Knowsley Art Glass Limited (Registered number: 04701883)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Knowsley Art Glass Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: R Kett





REGISTERED OFFICE: Ellis Ashton Street
Huyton Business Park
Liverpool
L36 6BN





REGISTERED NUMBER: 04701883 (England and Wales)





ACCOUNTANTS: LJS Accounting Services (UK) Ltd
Unit 5, 1st Floor
Connect Business Village
24 Derby Road
Liverpool
Merseyside
L5 9PR

Knowsley Art Glass Limited (Registered number: 04701883)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,191 25,721

CURRENT ASSETS
Stocks 2,018 1,082
Debtors 5 5,185 7,830
Cash at bank and in hand 23,822 45,798
31,025 54,710
CREDITORS
Amounts falling due within one year 6 26,760 28,030
NET CURRENT ASSETS 4,265 26,680
TOTAL ASSETS LESS CURRENT
LIABILITIES

42,456

52,401

PROVISIONS FOR LIABILITIES 2,916 3,040
NET ASSETS 39,540 49,361

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 39,440 49,261
39,540 49,361

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Knowsley Art Glass Limited (Registered number: 04701883)

Balance Sheet - continued
31 May 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 director and authorised for issue on 27 November 2024 and were signed by:





R Kett - Director


Knowsley Art Glass Limited (Registered number: 04701883)

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

1. STATUTORY INFORMATION

Knowsley Art Glass 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

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 5 (2023 - 4 ) .

Knowsley Art Glass Limited (Registered number: 04701883)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 73,779
Additions 25,200
At 31 May 2024 98,979
DEPRECIATION
At 1 June 2023 48,058
Charge for year 12,730
At 31 May 2024 60,788
NET BOOK VALUE
At 31 May 2024 38,191
At 31 May 2023 25,721

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 1,001 7,830
Other debtors 4,184 -
5,185 7,830

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 3,990 6,873
Taxation and social security 21,750 15,039
Other creditors 1,020 6,118
26,760 28,030