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REGISTERED NUMBER: 08316714 (England and Wales)



































Unaudited Financial Statements

for the Year Ended 31 December 2023

for

South Shropshire Glass Ltd

South Shropshire Glass Ltd (Registered number: 08316714)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


South Shropshire Glass Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M A Hopton
P Hopton
T W Hopton





REGISTERED OFFICE: Plot 11
Ludlow Business Park
Orleton Road
Ludlow
Shropshire
SY8 1XP





REGISTERED NUMBER: 08316714 (England and Wales)





ACCOUNTANTS: Thorne Widgery Accountancy Ltd
Chartered Accountants
2 Wyevale Business Park
Kings Acre
Hereford
Herefordshire
HR4 7BS

South Shropshire Glass Ltd (Registered number: 08316714)

Abridged Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 37,621 48,431
37,621 48,431

CURRENT ASSETS
Stocks 38,794 78,466
Debtors 12,235 54,021
Cash at bank and in hand 167,040 144,754
218,069 277,241
CREDITORS
Amounts falling due within one year (134,285 ) (206,604 )
NET CURRENT ASSETS 83,784 70,637
TOTAL ASSETS LESS CURRENT LIABILITIES 121,405 119,068

CREDITORS
Amounts falling due after more than one
year

(33,857

)

(48,156

)

PROVISIONS FOR LIABILITIES (6,991 ) (9,010 )
NET ASSETS 80,557 61,902

CAPITAL AND RESERVES
Called up share capital 40 40
Retained earnings 80,517 61,862
80,557 61,902

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

South Shropshire Glass Ltd (Registered number: 08316714)

Abridged Balance Sheet - continued
31 December 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 17 September 2024 and were signed on its behalf by:





P Hopton - Director


South Shropshire Glass Ltd (Registered number: 08316714)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

South Shropshire Glass Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assess whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


South Shropshire Glass Ltd (Registered number: 08316714)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 11 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 63,975
AMORTISATION
At 1 January 2023
and 31 December 2023 63,975
NET BOOK VALUE

At 31 December 2023 -
At 31 December 2022 -

South Shropshire Glass Ltd (Registered number: 08316714)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 140,261
Additions 1,579
At 31 December 2023 141,840
DEPRECIATION
At 1 January 2023 91,830
Charge for year 12,389
At 31 December 2023 104,219
NET BOOK VALUE
At 31 December 2023 37,621
At 31 December 2022 48,431

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 January 2023 100,537
Transfer to ownership (40,986 )
At 31 December 2023 59,551
DEPRECIATION
At 1 January 2023 60,291
Charge for year 10,062
Transfer to ownership (35,515 )
At 31 December 2023 34,838
NET BOOK VALUE
At 31 December 2023 24,713
At 31 December 2022 40,246