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REGISTERED NUMBER: 03596903 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 September 2024

for

CHANNEL GLAZING LIMITED

CHANNEL GLAZING LIMITED (REGISTERED NUMBER: 03596903)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHANNEL GLAZING LIMITED

Company Information
for the Year Ended 30 September 2024







DIRECTORS: S A S Edmonds
G K Edmonds



SECRETARY: Mrs D Edmonds



REGISTERED OFFICE: 100 Church Street
Brighton
East Sussex
BN1 1UJ



REGISTERED NUMBER: 03596903 (England and Wales)



ACCOUNTANTS: Paddenburg & Co Limited
100 Church Street
Brighton
East Sussex
BN1 1UJ



BANKERS: HSBC Bank Plc
153 North Street
Brighton
East Sussex
BN1 1SW

CHANNEL GLAZING LIMITED (REGISTERED NUMBER: 03596903)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - 18,910
- 18,910

CURRENT ASSETS
Stocks 6 - 37,000
Debtors 7 169,360 299,442
Cash at bank 371,994 248,691
541,354 585,133
CREDITORS
Amounts falling due within one year 8 219,223 199,645
NET CURRENT ASSETS 322,131 385,488
TOTAL ASSETS LESS CURRENT
LIABILITIES

322,131

404,398

CREDITORS
Amounts falling due after more than one
year

9

-

(17,365

)

PROVISIONS FOR LIABILITIES 10 - (4,728 )
NET ASSETS 322,131 382,305

CAPITAL AND RESERVES
Called up share capital 104 104
Retained earnings 322,027 382,201
SHAREHOLDERS' FUNDS 322,131 382,305

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CHANNEL GLAZING LIMITED (REGISTERED NUMBER: 03596903)

Balance Sheet - continued
30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by:




S A S Edmonds - Director



G K Edmonds - Director


CHANNEL GLAZING LIMITED (REGISTERED NUMBER: 03596903)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Channel Glazing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 historical cost convention.

Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1998, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

CHANNEL GLAZING LIMITED (REGISTERED NUMBER: 03596903)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023 4,900
Disposals (4,900 )
At 30 September 2024 -
AMORTISATION
At 1 October 2023 4,900
Eliminated on disposal (4,900 )
At 30 September 2024 -
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 October 2023 42,239 9,363 35,873 87,475
Disposals (42,239 ) (9,363 ) (35,873 ) (87,475 )
At 30 September 2024 - - - -
DEPRECIATION
At 1 October 2023 37,279 7,193 24,093 68,565
Charge for year 745 435 2,940 4,120
Eliminated on disposal (38,024 ) (7,628 ) (27,033 ) (72,685 )
At 30 September 2024 - - - -
NET BOOK VALUE
At 30 September 2024 - - - -
At 30 September 2023 4,960 2,170 11,780 18,910

6. STOCKS
2024 2023
£    £   
Stocks - 37,000

CHANNEL GLAZING LIMITED (REGISTERED NUMBER: 03596903)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 109,600 295,317
Other debtors 59,760 -
Prepayments - 4,125
169,360 299,442

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 17,409 10,077
Trade creditors 3,442 113,503
Tax 56,898 31,974
Social security and other taxes 3,324 3,158
VAT 20,764 20,151
Company credit card 10,063 2,382
Wages payable 46,197 -
Directors' loan accounts 50,626 13,400
Accrued expenses 10,500 5,000
219,223 199,645

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years - 10,332
Bank loan +2 years - 7,033
- 17,365

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 4,728

Deferred
tax
£   
Balance at 1 October 2023 4,728
Accelerated capital allowances (4,728 )
Balance at 30 September 2024 -

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party as both directors have equal beneficial share holding in the company.