Company registration number: 14720189
Unaudited financial statements
for the period ended 31 March 2024
for
Grade One Glazing Limited
Pages for filing with the Registrar
Company registration number: 14720189
Grade One Glazing Limited
Balance sheet
as at 31 March 2024
Note £ £
Fixed assets
Tangible assets 4 18,657
18,657
Current assets
Debtors 9,310
Cash at bank and in hand 1,617
10,927
Creditors: amounts falling due within
one year
(27,072)
Net current liabilities (16,145)
Total assets less current liabilities 2,512
NET ASSETS 2,512
Capital and reserves
Profit and loss account 2,512
TOTAL EQUITY 2,512
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the period ended 31 March 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 14720189
Grade One Glazing Limited
Balance sheet - continued
as at 31 March 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 Profit and loss account has not been delivered to the Registrar.
Signed by:
A Hawkins, Director
3 December 2024
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Grade One Glazing Limited
Notes to the financial statements
for the period ended 31 March 2024
1 Company information
Grade One Glazing Limited is a private company registered in England and Wales. Its registered number is 14720189. The company is limited by shares. Its registered office is 8 Loom Grove, Romford, RM1 2BJ.
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 historic cost convention.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Motor vehicles - 20% straight line
Computer equipment - 25% reducing balance
Taxation
Taxation for the period comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current 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.
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Grade One Glazing Limited
Notes to the financial statements - continued
for the period ended 31 March 2024
3 Average number of employees
During the period the average number of employees was 1.
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
Additions 23,431
At 31 March 2024 23,431
Depreciation
Charge for period 4,774
At 31 March 2024 4,774
Net book value
At 31 March 2024 18,657
5 Advances, credit and guarantees granted to the director
The following advances and credits to a director subsisted during the period ended 31 March 2024.
£
Alan Hawkins
Amounts advanced 25,307
Balance outstanding at end of period 25,307
All advances made during the year were on an interest free basis, had no fixed repayment date and was unsecured.
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