Registered number
10152189
Klarity Glass Limited
Report and Unaudited Accounts
30 April 2024
Collins
Chartered Accountants
West Midlands
Klarity Glass Limited
Registered number: 10152189
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 3 1,357 1,582
Current assets
Debtors 4 5,831 7,684
Cash at bank and in hand 36,913 53,038
42,744 60,722
Creditors: amounts falling due within one year 5 (11,704) (10,562)
Net current assets 31,040 50,160
Net assets 32,397 51,742
Capital and reserves
Called up share capital 100 100
Profit and loss account 32,297 51,642
Shareholders' funds 32,397 51,742
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P J Wardleworth
Director
Approved by the board on 10 January 2025
Klarity Glass Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 ( as applicable to small companies), The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the sale of goods, this is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office Equipment over 3 years
Debtors
Short term debtors are measured at transaction price , less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are also recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Office equipment
£
Cost
At 1 May 2023 6,088
Additions 1,666
At 30 April 2024 7,754
Depreciation
At 1 May 2023 4,506
Charge for the year 1,891
At 30 April 2024 6,397
Net book value
At 30 April 2024 1,357
At 30 April 2023 1,582
4 Debtors 2024 2023
£ £
Trade debtors 4,503 3,830
VAT receivable - 2,669
Prepayments and accrued income 1,161 1,185
Corporation tax 167 -
Other debtors - -
5,831 7,684
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 6,185 6,775
Corporation tax (225) 2,687
Other taxes and social security costs 4,594 -
Accruals and deferred income 1,150 1,100
11,704 10,562
6 Other information
Klarity Glass Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 3
Lifford Lane
Birmingham
B30 3DY
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