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REGISTERED NUMBER: 11998050 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Universal Glass Systems Ltd

Universal Glass Systems Ltd (Registered number: 11998050)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Universal Glass Systems Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: E Vata





REGISTERED OFFICE: 9 Chestnut Manor
359 Croydon Road
Wallington
Surrey
SM6 7PF





REGISTERED NUMBER: 11998050 (England and Wales)





ACCOUNTANTS: CWF & Partners Ltd
Chartered Accountants
67 Westow Street
Upper Norwood
London
SE19 3RW

Universal Glass Systems Ltd (Registered number: 11998050)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,175 9,567

CURRENT ASSETS
Debtors 5 82,453 29,085
Cash at bank 44,601 31,360
127,054 60,445
CREDITORS
Amounts falling due within one year 6 86,701 42,134
NET CURRENT ASSETS 40,353 18,311
TOTAL ASSETS LESS CURRENT
LIABILITIES

53,528

27,878

CREDITORS
Amounts falling due after more than one
year

7

(4,565

)

(7,541

)

PROVISIONS FOR LIABILITIES (3,294 ) (2,392 )
NET ASSETS 45,669 17,945

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 45,668 17,944
45,669 17,945

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Universal Glass Systems Ltd (Registered number: 11998050)

Balance Sheet - continued
31 May 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 director and authorised for issue on 7 February 2025 and were signed by:





E Vata - Director


Universal Glass Systems Ltd (Registered number: 11998050)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Universal Glass Systems Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 25% on cost

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Universal Glass Systems Ltd (Registered number: 11998050)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 13,211
Additions 8,000
At 31 May 2024 21,211
DEPRECIATION
At 1 June 2023 3,644
Charge for year 4,392
At 31 May 2024 8,036
NET BOOK VALUE
At 31 May 2024 13,175
At 31 May 2023 9,567

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 11,650
DEPRECIATION
At 1 June 2023 2,913
Charge for year 2,184
At 31 May 2024 5,097
NET BOOK VALUE
At 31 May 2024 6,553
At 31 May 2023 8,737

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 82,453 28,797
Other debtors - 288
82,453 29,085

Universal Glass Systems Ltd (Registered number: 11998050)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 2,976 2,593
Trade creditors 35,100 24,350
Taxation and social security 44,208 12,125
Other creditors 4,417 3,066
86,701 42,134

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 4,565 7,541