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Company Registration No. 12477470 (England and Wales)
Patel Glazing Ltd Unaudited accounts for the year ended 29 February 2024
Patel Glazing Ltd Unaudited accounts Contents
Page
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Patel Glazing Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Inventories
20,000 
20,000 
Debtors
20,260 
20,260 
Cash at bank and in hand
479 
17,335 
40,739 
57,595 
Creditors: amounts falling due within one year
(17,920)
(39,678)
Net current assets
22,819 
17,917 
Total assets less current liabilities
22,819 
17,917 
Creditors: amounts falling due after more than one year
(44,288)
(44,288)
Net liabilities
(21,469)
(26,371)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(21,569)
(26,471)
Shareholders' funds
(21,469)
(26,371)
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 November 2024 and were signed on its behalf by
V M Vaghela Director Company Registration No. 12477470
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Patel Glazing Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Patel Glazing Ltd is a private company, limited by shares, registered in England and Wales, registration number 12477470. The registered office is Unit 4, 30 Borwick Avenue, Walthamstow, London, E17 6RA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. The company received government support through the Small Businesses Rates Relief and Coronavirus Job Retention Scheme (CJRS) which is accounted for on the accrual basis, and is included as other operating income in the accounts.
4
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
20,260 
20,260 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Other creditors
17,920 
26,367 
Loans from directors
- 
13,311 
17,920 
39,678 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
44,288 
44,288 
7
Average number of employees
During the year the average number of employees was 3 (2023: 4).
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