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Company No: 04695586 (England and Wales)

SUPERIOR GLASS LIMITED

Abridged Unaudited Financial Statements
For the financial year ended 30 April 2024

SUPERIOR GLASS LIMITED

Abridged Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

SUPERIOR GLASS LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
SUPERIOR GLASS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTOR Mark Wren
REGISTERED OFFICE Design House Unit 1
Bell Lane
Bellbrook Industrial Estate
Uckfield
TN22 1QL
United Kingdom
COMPANY NUMBER 04695586 (England and Wales)
ACCOUNTANT Synergee
Pluto House
6 Vale Avenue
Tunbridge Wells
TN1 1DJ
SUPERIOR GLASS LIMITED

BALANCE SHEET

As at 30 April 2024
SUPERIOR GLASS LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 8,919 11,893
8,919 11,893
Current assets
Stocks 3,000 2,140
Debtors 100,648 54,246
Cash at bank and in hand 1,723,511 1,409,586
1,827,159 1,465,972
Creditors: amounts falling due within one year ( 251,466) ( 194,303)
Net current assets 1,575,693 1,271,669
Total assets less current liabilities 1,584,612 1,283,562
Net assets 1,584,612 1,283,562
Capital and reserves
Called-up share capital 103 103
Profit and loss account 1,584,509 1,283,459
Total shareholder's funds 1,584,612 1,283,562

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Superior Glass Limited (registered number: 04695586) were approved and authorised for issue by the Director on 14 January 2025. They were signed on its behalf by:

Mark Wren
Director
SUPERIOR GLASS LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
SUPERIOR GLASS LIMITED

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Superior Glass Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Design House Unit 1, Bell Lane, Bellbrook Industrial Estate, Uckfield, TN22 1QL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is [number] years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 9 14

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2023 50,000 50,000
At 30 April 2024 50,000 50,000
Accumulated amortisation
At 01 May 2023 50,000 50,000
At 30 April 2024 50,000 50,000
Net book value
At 30 April 2024 0 0
At 30 April 2023 0 0

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 May 2023 118,539 118,539
At 30 April 2024 118,539 118,539
Accumulated depreciation
At 01 May 2023 106,646 106,646
Charge for the financial year 2,974 2,974
At 30 April 2024 109,620 109,620
Net book value
At 30 April 2024 8,919 8,919
At 30 April 2023 11,893 11,893

5. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Rent paid 12,000 12,000

During the year the company paid rent of £12,000 (2023: £12,000) to M A Wren in respect of the business premises.