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REGISTERED NUMBER: 08541679 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

SUSSEX GLAZING SERVICES LIMITED

SUSSEX GLAZING SERVICES LIMITED (REGISTERED NUMBER: 08541679)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


SUSSEX GLAZING SERVICES LIMITED (REGISTERED NUMBER: 08541679)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 197,173 155,665

CURRENT ASSETS
Stocks 5 2,500 -
Debtors 6 977,251 481,797
Cash at bank 81,103 200,724
1,060,854 682,521
CREDITORS
Amounts falling due within one year 7 (908,698 ) (541,265 )
NET CURRENT ASSETS 152,156 141,256
TOTAL ASSETS LESS CURRENT
LIABILITIES

349,329

296,921

CREDITORS
Amounts falling due after more than one
year

8

(240,596

)

(170,939

)

PROVISIONS FOR LIABILITIES 10 (4,400 ) (12,000 )
NET ASSETS 104,333 113,982

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 104,331 113,980
104,333 113,982

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 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 February 2025 and were signed on its behalf by:



P McInerney - Director


SUSSEX GLAZING SERVICES LIMITED (REGISTERED NUMBER: 08541679)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Sussex Glazing Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08541679

Registered office: Unit D2 Dolphin Enterprise Centre
Evershed Way
Dolphin Road
Shoreham by Sea
West Sussex
BN43 6QB

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.
Plant and machinery - 25% straight line
Fixtures and fittings - 25% straight line
Motor vehicles - 25% straight line
Computer equipment - 25% straight line

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

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

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


SUSSEX GLAZING SERVICES LIMITED (REGISTERED NUMBER: 08541679)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued
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.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES

The average number of employees during the year was 17 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 13,191 34,023 292,691 11,343 351,248
Additions 7,253 512 131,495 867 140,127
Disposals - (9,395 ) (50,870 ) (2,747 ) (63,012 )
At 31 May 2024 20,444 25,140 373,316 9,463 428,363
DEPRECIATION
At 1 June 2023 1,678 31,851 157,168 4,886 195,583
Charge for year 4,808 808 79,025 2,320 86,961
Eliminated on disposal - (9,395 ) (39,212 ) (2,747 ) (51,354 )
At 31 May 2024 6,486 23,264 196,981 4,459 231,190
NET BOOK VALUE
At 31 May 2024 13,958 1,876 176,335 5,004 197,173
At 31 May 2023 11,513 2,172 135,523 6,457 155,665

5. STOCKS
2024 2023
£    £   
Inventories 2,500 -

SUSSEX GLAZING SERVICES LIMITED (REGISTERED NUMBER: 08541679)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 29,239 7,192
Other debtors 560,305 424,429
Directors' current accounts - 6,522
Prepayments and accrued income 387,707 43,654
977,251 481,797

Included within other debtors are amounts of £560,117 (2023: £420,054) due from related companies under common control. These amounts are interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 64,855 27,273
Hire purchase contracts (see note 9) 28,285 19,490
Trade creditors 188,736 66,791
Tax 53,381 66,911
Social security and other taxes 15,252 21,174
VAT 54,025 66,146
Other creditors 24,529 13,764
Directors' current accounts 3,135 -
Accruals and deferred income 476,500 259,716
908,698 541,265

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 65,054 27,273
Bank loans - 2-5 years 25,156 27,273
Hire purchase contracts (see note 9) 150,386 116,393
240,596 170,939

SUSSEX GLAZING SERVICES LIMITED (REGISTERED NUMBER: 08541679)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 44,646 32,225
Between one and five years 161,462 130,952
206,108 163,177

Finance charges repayable:
Within one year 16,361 12,735
Between one and five years 11,076 14,559
27,437 27,294

Net obligations repayable:
Within one year 28,285 19,490
Between one and five years 150,386 116,393
178,671 135,883

Non-cancellable operating leases
2024 2023
£    £   
Within one year 21,404 21,404
Between one and five years 63,045 84,449
84,449 105,853

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 4,400 12,000

Deferred
tax
£   
Balance at 1 June 2023 12,000
Movement (7,600 )
Balance at 31 May 2024 4,400

SUSSEX GLAZING SERVICES LIMITED (REGISTERED NUMBER: 08541679)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
A Harrison
Balance outstanding at start of year 1,751 (209 )
Amounts advanced 90,384 120,272
Amounts repaid (95,212 ) (118,312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,077 ) 1,751

P McInerney
Balance outstanding at start of year 4,770 2,810
Amounts advanced 90,384 120,272
Amounts repaid (95,212 ) (118,312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (58 ) 4,770