Registered number
15290045
Salisbury Glass Group Holdings Limited
Report and Financial Statements
31 May 2024
Salisbury Glass Group Holdings Limited
Report and accounts
Contents
Page
Company information 1
Strategic report 2
Directors' report 4
Statement of directors' responsibilities 5
Independent auditor's report 6
Consolidated Income statement 9
Consolidated Statement of comprehensive income 10
Consolidated Statement of financial position 11
Statement of financial position 12
Statement of changes in equity 13
Statement of cash flows 14
Notes to the financial statements 15
Salisbury Glass Group Holdings Limited
Company Information
Directors
Mr L Gower
Mr P I Tomlinson
Mr D W H Naish
Auditors
Taylors
Rosedean House
4 Argyle Road
Barnet
EN5 4DX
Solicitors
Lester Aldridge
Russell House
Oxford Road
Bournmouth
BH8 8EX
Registered office
Newton Road
Churchfields
Salisbury
Wiltshire
SP2 7QA
Registered number
15290045
Salisbury Glass Group Holdings Limited
Strategic Report
Principal activities
The group's principal activity during the period continued to be that of the manufacture, supply and installation of double glazing and ancillary products including rain screen cladding and curtain walling primarily to the commercial market.
Business review
The economy at large and weakness in the property market gave rise to challenging trading conditions throughout the period with similar pressure on margins.

Economies within the group have been identified and implemented to deliver improved efficiencies and strengthen resilience.

The Board has identified that the group has no liability to remedial cladding works following changes in Government policy for cladding applied to mid and high-rise buildings.

The Board is optimistic that the group is well placed going forward and has the resources necessary to deliver good results
During the period the Salisbury Glass Group reorganised the company structure in a management buyout. The company acquired 100% shareholding in Salisbury Glass Commercial Holdings Limited and Salisbury Glass Centre Holdings Ltd.

Key performance indicators
The key financial highlights are
2024
Turnover £2,147,206
Gross profit margin 23.10%
Profit (Loss) before tax and interest 119,818
Cash flow from operations £2,537,277
Shareholders funds £102,742
Average number of employees 131
Principal risks and uncertainties
The principal risks and uncertainties remain vested in the economy at large and in particular the health of the property market. Supply chain shortages and cost increases have proved challenging since the start of the global pandemic. Changes to the labour market have proved challenging and the business has experienced problems with both availability and rising costs.
Future developments
The company continues to build on strong long-standing relationships with customers and supply chain partners to deliver a competitive high-quality product.
Salisbury Glass Group Holdings Limited
Strategic Report
Financial instrument risk
The company's principal financial instruments comprise bank balances, trade creditors, trade debtors and loans to the company. The main purpose of these agreements is to finance the company's operations.
Due to the nature of the financial instruments used by the company there is no exposure to price risk. The company's approach to managing other risks applicable to the financial instruments concerned is shown below.
In respect of bank balances, the liquidity risk is managed by maintaining a balance for continuity of funding. The company makes use of money market and deposit account facilities when funds are available.
In respect of loans these comprise of loans from the directors and loans to and from group companies. The company manages the liquidity risk by ensuring there are sufficient funds to meet the payments. The loans from directors are charged at the rate of 5% per annum and are payable on demand.
Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.
Trade creditors liquidity risk is managed by ensuring sufficient finds are available to meet amounts due.
This report was approved by the board on 10 February 2025 and signed on its behalf.
D Naish
Director
Salisbury Glass Group Holdings Limited
Registered number: 15290045
Directors' Report
The directors present their report and group financial statements for the period ended 31 May 2024.
Principal place of business
Salisbury Glass Commercial Limited is a company incorporated and domiciled in England and has its registered office and principal place of business at Newton Road, Churchfields, Salisbury, Wiltshire, SP2 7QA.
Dividends
Dividends of £40,787 were paid during the period. The directors do not recommend payment of a final dividend.
Directors
The following persons served as directors during the period:
Mr L Gower Appointed 22 April 2024
Mr P I Tomlinson Appointed 22 April 2024
Mr D W H Naish Appointed 16 November 2023
Disclosure of information to auditors
Each person who was a director at the time this report was approved confirms that:
so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.
This report was approved by the board on 10 February 2025 and signed on its behalf.
D Naish
Director
Salisbury Glass Group Holdings Limited
Statement of Directors' Responsibilities
The directors are responsible for preparing the report and financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Salisbury Glass Group Holdings Limited
Independent auditor's report
to the members of Salisbury Glass Group Holdings Limited
Opinion
We have audited the financial statements of Salisbury Glass Group Holdings Limited (the 'parent company') and its subsidiaries (the 'Group') for the period ended 31 May 2024 which comprise the Consolidated Income Statement, the Statement of Consolidated Comprehensive Income, the Statement of Consolidated Financial Position, the Statement of Financial Position, the Consolidated Statement of Changes in Equity, the Consolidated Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the group and parent company's affairs as at 31 May 2024 and of its profit for the period then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the group strategic report and the directors’ report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
the group strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the group strategic report or the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or parent company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In planning and designing our audit tests we identify and assess the risks of material misstatement within the financial statements, whether due to fraud or error. Our assessment of these risks includes consideration of the nature of the industry and sector, the control environment and the business performance along with the results of our enquiries of management about their own identification and assessment of risks and irregularities. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the company operates in; focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, UK tax legislation and other laws and regulations identified as risk areas identified from our discussions with management.
We communicated relevant identified laws and regulations and potential fraud risks to all engagement team members including internal specialists, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

After consideration of the above risks we then carried out audit procedures including the following:
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

reading minutes of management meetings;

reviewing correspondence with H M Revenue & Customs;

enquiring of management and reviewing any correspondence with legal advisors concerning actual and potential litigation and claims;

reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
There are inherent limitations in our audit procedures described above. The more removed that the laws and regulations are from financial transactions the less likely it is that we would be aware on non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Rajesh Gulabivala
(Senior Statutory Auditor) Rosedean House
for and on behalf of 4 Argyle Road
Taylors Barnet
Statutory Auditor EN5 4DX
10 February 2025
Salisbury Glass Group Holdings Limited
Consolidated Income Statement
for the period from 16 November 2023 to 31 May 2024
Notes 2024
£
Turnover 3 2,147,206
Cost of sales (1,653,833)
Gross profit 493,373
Distribution costs (27,344)
Administrative expenses (350,435)
Other operating income 4,224
Operating profit 4 119,818
Income from investments 40,787
Interest receivable 17,376
Interest payable 7 (15,992)
Profit on ordinary activities before taxation 161,989
Tax on profit on ordinary activities 8 (33,716)
Profit for the period 128,273
Salisbury Glass Group Holdings Limited
Consolidated Statement of Comprehensive Income
for the period from 16 November 2023 to 31 May 2024
Notes 2024
£
Profit for the period 128,273
Other comprehensive income -
Total comprehensive income for the period 128,273
Salisbury Glass Group Holdings Limited
Consolidated Statement of Financial Position
as at 31 May 2024
Notes 2024
£
Fixed assets
Intangible assets 9 926,496
Tangible assets 10 482,042
1,408,538
Current assets
Stocks 12 810,168
Debtors 13 3,222,187
Cash at bank and in hand 2,210,214
6,242,569
Creditors: amounts falling due within one year 14 (3,883,212)
Net current assets 2,359,357
Total assets less current liabilities 3,767,895
Creditors: amounts falling due after more than one year 15 (3,545,686)
Provisions for liabilities
Deferred taxation 16 (119,467)
Net assets 102,742
Capital and reserves
Called up share capital 17 1,000
Pre-acquisition reserves 18 14,256
Profit and loss account 19 87,486
Total equity 102,742
D Naish
Director
Approved by the board on 10 February 2025
Salisbury Glass Group Holdings Limited
Statement of Financial Position
as at 31 May 2024
Notes 2024
£
Fixed assets
Investments 11 6,140,000
Current assets
Debtors 13 820
Creditors: amounts falling due within one year 14 (400,088)
Net current liabilities (399,268)
Total assets less current liabilities 5,740,732
Creditors: amounts falling due after more than one year 15 (5,739,732)
Net assets 1,000
Capital and reserves
Called up share capital 17 1,000
Total equity 1,000
D Naish
Director
Approved by the board on 10 February 2025
Salisbury Glass Group Holdings Limited
Statement of Changes in Equity
for the period from 16 November 2023 to 31 May 2024
Share Pre-acquisition Profit Total
capital reserves and loss
account
£ £ £ £
Group
At 16 November 2023 - - - -
Profit for the period - - 128,273 128,273
Pre-acquisition reserves - 14,256 - 14,256
Dividends - - (40,787) (40,787)
Shares issued 1,000 - - 1,000
At 31 May 2024 1,000 14,256 87,486 102,742
Company
Other comprehensive income for the financial period - - 40,787 40,787
Dividends - (40,787) (40,787)
Shares issued 1,000 - - 1,000
At 31 May 2024 1,000 - - 1,000
Salisbury Glass Group Holdings Limited
Consolidated Statement of Cash Flows
for the period from 16 November 2023 to 31 May 2024
Notes 2024
£
Operating activities
Profit for the period 128,273
Adjustments for:
Income from investments (40,787)
Interest receivable (17,376)
Interest payable 15,992
Tax on profit on ordinary activities 33,716
Depreciation 16,210
Amortisation of goodwill 6,750
Increase in debtors (3,222,187)
Increase in creditors 5,574,515
2,495,106
Dividends received 40,787
Interest received 17,376
Interest paid (15,992)
Cash generated by operating activities 2,537,277
Investing activities
Payments to acquire intangible fixed assets (933,246)
Payments to acquire tangible fixed assets (498,252)
Cash used in investing activities (1,431,498)
Financing activities
Equity dividends paid (40,787)
Proceeds from the issue of shares 1,120,276
Repayment of loans 24,946
Cash generated by financing activities 1,104,435
Net cash generated
Cash generated by operating activities 2,537,277
Cash used in investing activities (1,431,498)
Cash generated by financing activities 1,104,435
Net cash generated 2,210,214
Cash and cash equivalents at 16 November -
Cash and cash equivalents at 31 May 2,210,214
Cash and cash equivalents comprise:
Cash at bank 2,210,214
Salisbury Glass Group Holdings Limited
Notes to the Accounts
for the period from 16 November 2023 to 31 May 2024
1 Summary of significant accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Profit and Loss Account in these financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Government grants
Grants relating to revenue are recognized on an accruals basis, such that grant income matches the expense it is intended to compensate.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Critical accounting estimates and judgements
In the application of the Group's accounting policies, the directors are required to make judgements estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an on going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Critical accounting estimates and judgements
The following judgements and estimates have had the most significant effect on amounts recognised in the financial statements.
a) Revenue recognition and contract losses
Recognised amounts of construction contract revenues reflect the directors' best estimate of long-term contracts outcome and stage of completion. This includes the assessment of the profitability of long-term contracts. Management undertakes detailed reviews on regular basis in order to exercise judgement over the outcome of each contract and associated risks and opportunities.
The value of work completed at the Balance Sheet date is assessed by undertaking surveys and completing internal valuation of works completed and in progress. Regular management reviews of contract progress are undertaken.
b) Plant and machinery
Plant and machinery included within tangible assets has a significant carrying value. Plant and machinery is depreciated on a straight-line basis. The useful life of tangible assets are reviewed regularly in light of technological change, prospective utilisation and physical condition of the assets. Plant and machinery is reviewed annually for indicators of impairment.
c) Carrying value of trade debtors, amounts recoverable on contracts and other receivables
The Group makes an estimate of the recoverable value of trade debtors, amounts recoverable on contracts and other receivable. When assessing impairment of trade debtors, amounts recoverable on contracts and other receivables, management considers factors including the current credit rating of the trade debtors, the aging profile of the trade debtors and historical experience. Allowance for doubtful debt provisions against billed debtors, amounts recoverable on contracts and other receivables are made on a specific basis, based on the estimates of the recoverability determined by market knowledge and past experience.
3 Analysis of turnover 2024
£
Sale of goods 2,132,089
Services rendered 15,117
2,147,206
By geographical market:
UK 2,147,206
4 Operating profit 2024
£
This is stated after charging:
Depreciation of owned fixed assets 16,210
Amortisation of goodwill 6,750
Operating lease rentals - land and buildings 13,433
Auditors' remuneration for audit services 13,600
Auditors' remuneration for other services 1,400
5 Directors' emoluments 2024
£
Emoluments 5,473
Company contributions to defined contribution pension plans 684
6,157
Highest paid director:
Emoluments 1,229
Number of directors to whom retirement benefits accrued: 2024
Number
Defined contribution plans 3
6 Staff costs 2024
£
Wages and salaries 475,252
Social security costs 46,430
Other pension costs 11,404
533,086
Average number of employees during the year Number
Administration 50
Manufacturing 81
131
7 Interest payable 2024
£
Bank loans and overdrafts 15,992
8 Taxation 2024
£
Analysis of charge in period
Current tax:
UK corporation tax on profits of the period 33,716
Tax on profit on ordinary activities 33,716
Factors affecting tax charge for period
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:
2024
£
Profit on ordinary activities before tax 161,989
Standard rate of corporation tax in the UK 25%
£
Profit on ordinary activities multiplied by the standard rate of corporation tax 40,497
Effects of:
Expenses not deductible for tax purposes (2,805)
Capital allowances for period in excess of depreciation (3,976)
Current tax charge for period 33,716
9 Intangible fixed assets £
Goodwill:
Cost
Additions 933,246
At 31 May 2024 933,246
Amortisation
Provided during the period 6,750
At 31 May 2024 6,750
Carrying amount
At 31 May 2024 926,496
Goodwill represents the excess paid for assets over their fair value. The goodwill has arisen on the demerger of the company with Salisbury Glass Commercial Limited. The directors consider that goodwill has an estimated economic life of 20 years on the basis that all products sold carry a 10 year warranty and are expected to have an additional life of 10 years after the expiry of the warranty.
10 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
At cost At cost At cost
£ £ £ £
Cost or valuation
Additions 1,794 182,616 313,842 498,252
At 31 May 2024 1,794 182,616 313,842 498,252
Depreciation
Charge for the period 39 9,386 6,785 16,210
At 31 May 2024 39 9,386 6,785 16,210
Carrying amount
At 31 May 2024 1,755 173,230 307,057 482,042
11 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
Additions 6,140,000 - 6,140,000
At 31 May 2024 6,140,000 - 6,140,000
The company holds 20% or more of the share capital of the following companies:
Capital and Profit (loss)
Company Shares held reserves for the year
Class % £ £
Salisbury Glass Commercial Holdings Limited Ordinary 100 100 -
Salisbury Glass Centre Holdings Ltd Ordinary 100 2,000,000 7,929
The company indrectly holds 20% or more of the share capital of the following companies:
Salisbury Glass Commercial Ltd Ordinary 100 4,573,528 792,567
Salisbury Glass Centre Limited Ordinary 100 1,668,213 -
On 22nd April 2024 the company acquired the entire issued share capital of Salisbury Glass Commercial Holdings Limited and Salisbury Glass Centre Holdings Limited.
Group Company
12 Stocks 2024 2024
£ £
Raw materials and consumables 522,229 -
Work in progress 287,939 -
810,168 -
Group Company
13 Debtors 2024 2024
£ £
Trade debtors 2,542,933 -
Other debtors 679,254 820
3,222,187 820
Amounts due after more than one year included in:
Trade debtors 110,956 -
Group Company
14 Creditors: amounts falling due within one year 2024 2024
£ £
Bank loans 9,890 -
Trade creditors 1,325,495 -
Corporation tax 263,331 -
Other taxes and social security costs 194,155 -
Other creditors 2,075,224 384,971
Accruals and deferred income 15,117 15,117
3,883,212 400,088
Group Company
15 Creditors: amounts falling due after one year 2024 2024
£ £
Preference shares 1,105,020 1,105,020
Bank loans 15,056 -
Trade creditors 115,783 -
Amounts owed to group undertakings - 2,324,883
Other creditors 2,309,827 2,309,829
3,545,686 5,739,732
Group Company
16 Deferred taxation 2024 2024
£ £
Accelerated capital allowances 119,467 -
Group Company
2024
£
At 16 November 74,297 -
Charged to the profit and loss account 45,170 -
At 31 May 119,467 -
17 Share capital Nominal 2024 2024
value Number £
Allotted, called up and fully paid:
A Ordinary shares £1 each 500 500
B Ordinary shares £1 each 200 200
C Ordinary shares £1 each 150 150
D Ordinary shares £1 each 150 150
1,000
Preference shares £1 each 1,105,020 1,105,020
1,106,020
18 Pre-acquisition reserves 2024
£
Arising during period 14,256
At 31 May 14,256
19 Profit and loss account 2024
£
At 16 November -
Profit for the period 128,273
Dividends (40,787)
At 31 May 87,486
20 Dividends 2024
£
Dividends on ordinary shares (note 19) 40,787
21 Other financial commitments
Total future minimum lease payments under non-cancellable operating leases:
Land and buildings
2024
£
Falling due:
within two to five years 105,867
in over five years 229,167
335,034
22 Related party transactions
The company has taken advantage of FRS 102 Paragraph 33.1A not to disclose intra group transactions as all subsidiaries are wholly owned.
M S Gower - Director & J Gower - Spouse
M S Gower and Mrs J Gower jointly own a one third share in one property and a half share in two other properties which are rented to a group company at arm's length. M S & J S Gower received £4,814 for the period under review. M S Gower received interest at 5% on his term loan account, for the priod under review this amounted to £165. Mrs J Gower also received 5% interest on her loan account, for the period under review this amounted to £166.
I Paton - Director & J S Paton - Spouse
I Paton and Mrs J S Paton jointly own a half share in two properties which are rented to a group company at arm's length. I & J S Paton received £4,353 for the period under review. I Paton received interest at 5% on his term loan account, for the period under review this amounted to £2. Mrs J S Paton also received 5% interest on her loan account, for the period under review this amounted to £1.
S Gower - brother of M S Gower
S Gower jointly owns one third share of a property rented to a group company at arm's length. S Gower recieved rent of £461 for the period under review.
P Gower - brother of M S Gower
P Gower jointly owns one third share of a property rented to a group company at arm's length. P Gower recieved rent of £461 for the period under review.
23 Controlling party
The controlling party is Luke Gower, the company director.
24 Presentation currency
The financial statements are presented in Sterling and rounded to the nearest £.
25 Legal form of entity and country of incorporation
Salisbury Glass Group Holdings Limited is a private company limited by shares and incorporated in England.
26 Principal place of business
The address of the company's principal place of business and registered office is:
Newton Road
Churchfields
Salisbury
Wiltshire
SP2 7QA
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