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Registered number: 02025589









INTERGLOW (CONTRACTS) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
INTERGLOW (CONTRACTS) LIMITED
REGISTERED NUMBER: 02025589

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
67,649
47,812

  
67,649
47,812

CURRENT ASSETS
  

Stocks
 5 
170,107
78,849

Debtors: amounts falling due within one year
 6 
289,841
320,589

Bank and cash balances
  
123,454
8,772

  
583,402
408,210

Creditors: amounts falling due within one year
 7 
(162,430)
(207,877)

NET CURRENT ASSETS
  
 
 
420,972
 
 
200,333

TOTAL ASSETS LESS CURRENT LIABILITIES
  
488,621
248,145

Creditors: amounts falling due after more than one year
 8 
(9,640)
(19,908)

  

NET ASSETS
  
478,981
228,237


CAPITAL AND RESERVES
  

Called up share capital 
 9 
100
100

Profit and loss account
  
478,881
228,137

  
478,981
228,237


Page 1

 
INTERGLOW (CONTRACTS) LIMITED
REGISTERED NUMBER: 02025589
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr M J Webb
Director

Date: 29 November 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
INTERGLOW (CONTRACTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


GENERAL INFORMATION

Interglow (Contracts) Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Shepreth Road, Fowlmere, Royston, Hertfordshire, SG8 7TQ.
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
INTERGLOW (CONTRACTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.5

DEBTORS

Short term debtors are measured at transaction price, less any impairment.

 
2.6

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.9

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 13 (2023 - 12).

Page 4

 
INTERGLOW (CONTRACTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


TANGIBLE FIXED ASSETS





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



COST OR VALUATION


At 1 September 2023
54,900
78,213
40,695
173,808


Additions
500
37,090
688
38,278


Disposals
(13,755)
-
(2,328)
(16,083)



At 31 August 2024

41,645
115,303
39,055
196,003



DEPRECIATION


At 1 September 2023
44,337
47,486
34,173
125,996


Charge for the year on owned assets
1,661
13,091
2,311
17,063


Disposals
(12,788)
-
(1,917)
(14,705)



At 31 August 2024

33,210
60,577
34,567
128,354



NET BOOK VALUE



At 31 August 2024
8,435
54,726
4,488
67,649



At 31 August 2023
10,563
30,727
6,522
47,812


5.


STOCKS

2024
2023
£
£

Raw materials and consumables
27,827
20,708

Work in progress
142,280
58,141

170,107
78,849


Page 5

 
INTERGLOW (CONTRACTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£


Trade debtors
176,420
270,178

Amounts owed by group undertakings
32,583
-

Other debtors
68,495
40,856

Prepayments and accrued income
12,343
9,555

289,841
320,589



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank loans
10,268
10,015

Trade creditors
29,463
63,660

Amounts owed to group undertakings
-
27,781

Other taxation and social security
11,579
14,978

Other creditors
85,341
78,999

Accruals and deferred income
25,779
12,444

162,430
207,877


The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The balance owed to the pension fund at the year end was £1,935 (2023 - £2,812).
Bank loans includes a Government back 'bounce back' loan, which was drawn down in July 2020. This loan is 100% guaranteed by the government and there will be no fees or interest payable in the first 12 months. After this 12 month period, interest has been charged at 2.5% per annum. The first instalment was paid in August 2021.

Page 6

 
INTERGLOW (CONTRACTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
9,640
19,908

9,640
19,908


Bank loans includes a Government back 'bounce back' loan, which was drawn down in July 2020. This loan is 100% guaranteed by the government and there will be no fees or interest payable in the first 12 months. After this 12 month period, interest has been charged at 2.5% per annum. The first instalment was paid in August 2021.


9.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 Ordinary shares of £1 each
100
100


 
Page 7