Company registration number 02723960 (England and Wales)
THE WORLD OF GLASS ENTERPRISES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
THE WORLD OF GLASS ENTERPRISES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
THE WORLD OF GLASS ENTERPRISES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,474
2,212
Current assets
Stocks
8,002
8,002
Debtors
4
8,793
7,350
Cash at bank and in hand
1,152
1,022
17,947
16,374
Creditors: amounts falling due within one year
5
(55,655)
(45,401)
Net current liabilities
(37,708)
(29,027)
Total assets less current liabilities
(36,234)
(26,815)
Creditors: amounts falling due after more than one year
6
(16,141)
(25,980)
Net liabilities
(52,375)
(52,795)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(52,377)
(52,797)
Total equity
(52,375)
(52,795)
THE WORLD OF GLASS ENTERPRISES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 27 January 2025 and are signed on its behalf by:
Ms S E Taylor
Director
Company registration number 02723960 (England and Wales)
THE WORLD OF GLASS ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

The World of Glass Enterprises Limited is a private company limited by shares incorporated in England and Wales. The registered office is Chalon Way East, St Helens, Merseyside, WA10 1BX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Comparatives

The comparatives have been reclassified to net the management charges against admissions income, which is income that the company receives for the benefit of its parent company, The World of Glass (St Helens) Limited. There has been no effect on the results for the year.

1.3
Going concern

The company cannot continue to trade without the support of its charitable parent company, The World of Glass (St Helens) Limited. In assessing its funding requirements for the future, the trustees of the parent company consider it will continue to receive adequate funding for the foreseeable future. Further details of the going concern consideration can be found in the financial statements of the parent company.true

 

The directors consider that in preparing the financial statements they have taken into account all information that could reasonably be expected to be available. On this basis they consider it is appropriate to prepare the financial statements on the going concern basis.

1.4
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.

 

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% straight line
Fixtures and fittings
25% straight line

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.

THE WORLD OF GLASS ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
7
11
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
3,188
17,618
20,806
Depreciation and impairment
At 1 April 2023
3,188
15,406
18,594
Depreciation charged in the year
-
0
738
738
At 31 March 2024
3,188
16,144
19,332
Carrying amount
At 31 March 2024
-
0
1,474
1,474
At 31 March 2023
-
0
2,212
2,212
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
8,793
7,151
Other debtors
-
0
199
8,793
7,350
THE WORLD OF GLASS ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
9,648
9,648
Trade creditors
6,059
2,957
Amounts owed to group undertakings
20,073
20,073
Taxation and social security
14,310
9,265
Other creditors
5,565
3,458
55,655
45,401
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
16,141
25,980
7
Parent company

The company is a wholly owned subsidiary of The World of Glass (St Helens) Limited.

8
Going concern

Although the financial statements show net current liabilities of £37,708 (2023 £29,027) and net liabilities of £52,375 (2023 £52,795), the directors are of the opinion that the financial statements can be prepared on the going concern basis on the grounds that the charitable parent company, The World of Glass (St Helens) Limited will continue to provide support to enable the company to trade profitably in the future.

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