Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-3121No description of principal activityfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-09-01truefalse15false 12175890 2023-09-01 2024-08-31 12175890 2022-09-01 2023-08-31 12175890 2024-08-31 12175890 2023-08-31 12175890 2022-09-01 12175890 c:Director1 2023-09-01 2024-08-31 12175890 d:PlantMachinery 2023-09-01 2024-08-31 12175890 d:PlantMachinery 2024-08-31 12175890 d:PlantMachinery 2023-08-31 12175890 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 12175890 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 12175890 d:MotorVehicles 2023-09-01 2024-08-31 12175890 d:MotorVehicles 2024-08-31 12175890 d:MotorVehicles 2023-08-31 12175890 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 12175890 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 12175890 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 12175890 d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 12175890 d:CurrentFinancialInstruments 2024-08-31 12175890 d:CurrentFinancialInstruments 2023-08-31 12175890 d:Non-currentFinancialInstruments 2024-08-31 12175890 d:Non-currentFinancialInstruments 2023-08-31 12175890 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 12175890 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 12175890 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 12175890 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 12175890 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-08-31 12175890 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 12175890 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-08-31 12175890 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 12175890 d:ShareCapital 2024-08-31 12175890 d:ShareCapital 2023-08-31 12175890 d:RetainedEarningsAccumulatedLosses 2024-08-31 12175890 d:RetainedEarningsAccumulatedLosses 2023-08-31 12175890 d:AcceleratedTaxDepreciationDeferredTax 2024-08-31 12175890 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 12175890 c:OrdinaryShareClass1 2023-09-01 2024-08-31 12175890 c:OrdinaryShareClass1 2024-08-31 12175890 c:FRS102 2023-09-01 2024-08-31 12175890 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 12175890 c:FullAccounts 2023-09-01 2024-08-31 12175890 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12175890 d:HirePurchaseContracts d:WithinOneYear 2024-08-31 12175890 d:HirePurchaseContracts d:WithinOneYear 2023-08-31 12175890 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-08-31 12175890 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-08-31 12175890 2 2023-09-01 2024-08-31 12175890 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-08-31 12175890 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-08-31 12175890 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-08-31 12175890 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-08-31 12175890 d:LeasedAssetsHeldAsLessee 2024-08-31 12175890 d:LeasedAssetsHeldAsLessee 2023-08-31 12175890 e:PoundSterling 2023-09-01 2024-08-31 12175890 d:EntityControlledByKeyManagementPersonnel1 2023-09-01 2024-08-31 12175890 d:EntityControlledByKeyManagementPersonnel1 2024-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12175890









STEEL & GLASS SOLUTIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
STEEL & GLASS SOLUTIONS LIMITED
REGISTERED NUMBER: 12175890

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024


2024

2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
534,706
479,103

Current assets
  

Debtors: amounts falling due after more than one year
 5 
66,000
66,000

Debtors: amounts falling due within one year
 5 
870,895
590,701

Cash at bank and in hand
 6 
268,871
632,744

  
1,205,766
1,289,445

Creditors: amounts falling due within one year
 7 
(790,323)
(851,148)

Net current assets
  
 
 
415,443
 
 
438,297

Creditors: amounts falling due after more than one year
 8 
(127,389)
(180,253)

Provisions for liabilities
  

Deferred tax
 11 
(133,678)
(119,777)

Net assets
  
689,082
617,370


Capital and reserves
  

Called up share capital 
 12 
100
100

Profit and loss account
  
688,982
617,270

  
689,082
617,370

Page 1

 
STEEL & GLASS SOLUTIONS LIMITED
REGISTERED NUMBER: 12175890
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 February 2025.




J Lambert
Director

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
STEEL & GLASS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Steel & Glass Solutions Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 3 Brook Business Centre, Cowley Mill Road, Uxbridge, United Kingdom, UB8 2FX.
The company specialises in manufacturing of metal structures and parts of structures.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The directors have also taken consideration of the impact of inflationary pressures on the business and the withdrawal of the United Kingdom from the European Union. The directors note that the company is trading adequately and has sufficient working capital and other finance available to continue trading for a period of not less than 12 months from the date of signing these financial statements. As such, the directors believe that there are no significant uncertainties in their assessment of whether the business is a going concern and therefore have prepared the accounts on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

Page 3

 
STEEL & GLASS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 4

 
STEEL & GLASS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
25%
Reducing balance
Motor vehicles
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
STEEL & GLASS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 21 (2023 - 15).


4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Total

£
£
£



Cost


At 1 September 2023
562,411
122,319
684,730


Additions
206,103
-
206,103


Disposals
(800)
(12,000)
(12,800)



At 31 August 2024

767,714
110,319
878,033



Depreciation


At 1 September 2023
153,753
51,874
205,627


Charge for the year on owned assets
71,144
8,093
79,237


Charge for the year on financed assets
54,918
12,198
67,116


Disposals
(186)
(8,467)
(8,653)



At 31 August 2024

279,629
63,698
343,327



Net book value



At 31 August 2024
488,085
46,621
534,706



At 31 August 2023
408,658
70,445
479,103

Page 6

 
STEEL & GLASS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
164,752
219,670

Motor vehicles
-
35,891

164,752
255,561


5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
66,000
66,000

66,000
66,000


2024
2023
£
£

Due within one year

Trade debtors
205,704
488,108

Other debtors
104,762
69,339

Prepayments and accrued income
560,429
33,254

870,895
590,701



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
268,871
632,744

268,871
632,744


Page 7

 
STEEL & GLASS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
161,082
283,206

Amounts owed to group undertakings
314,696
192,343

Corporation tax
157,847
74,163

Other taxation and social security
15,444
14,531

Obligations under finance lease and hire purchase contracts
48,000
59,601

Other creditors
1,863
1,863

Accruals and deferred income
81,391
215,441

790,323
851,148


Obligations under finance leases and hire purchase contracts are secured over the assets to which they relate.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
17,010
25,833

Obligations under finance leases and hire purchase contracts
110,379
154,420

127,389
180,253


Obligations under finance leases and hire purchase contracts are secured over the assets to which they relate.

Page 8

 
STEEL & GLASS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Amounts falling due 2-5 years

Bank loans
7,010
15,833


27,010
35,833



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
48,000
59,601

Between 1-5 years
110,379
154,420

158,379
214,021


11.


Deferred taxation




2024
2023


£

£






At beginning of year
119,777
112,551


Charged to the Statement of comprehensive income
13,901
7,226



At end of year
133,678
119,777

Page 9

 
STEEL & GLASS SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
 
11.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
133,678
119,777

133,678
119,777


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100



13.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company, in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £8,659 (2023 - £5,950). Contributions totalling £1,863 (2023 - £1,863) were payable at the reporting date and are included in other creditors.


14.


Related party transactions

Included within other creditors is an amount of £314,696 (2023 - £192,343) due to the parent undertaking.
 
Included within other creditors is an amount of £Nil (2023 - £Nil) due to J Lambert, a director of the company. During the year, £Nil (2023 - £21,161) of the loan was repaid to the director. The loan is interest free and repayable on demand.


15.


Ultimate parent undertaking and controlling party

PL Holdings Limited is the immediate and ultimate parent undertaking.
 
The ultimate controlling parties are J Lambert and W Few due to their significant shareholdings in the parent undertaking.
Page 10