IRIS Accounts Production v24.3.2.46 04929503 director 1.11.23 31.10.24 31.10.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh049295032023-10-31049295032024-10-31049295032023-11-012024-10-31049295032022-10-31049295032022-11-012023-10-31049295032023-10-3104929503ns15:EnglandWales2023-11-012024-10-3104929503ns14:PoundSterling2023-11-012024-10-3104929503ns10:Director12023-11-012024-10-3104929503ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3104929503ns10:SmallEntities2023-11-012024-10-3104929503ns10:AuditExempt-NoAccountantsReport2023-11-012024-10-3104929503ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3104929503ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3104929503ns10:FullAccounts2023-11-012024-10-3104929503ns10:Director22023-11-012024-10-3104929503ns10:RegisteredOffice2023-11-012024-10-3104929503ns5:CurrentFinancialInstruments2024-10-3104929503ns5:CurrentFinancialInstruments2023-10-3104929503ns5:Non-currentFinancialInstruments2024-10-3104929503ns5:Non-currentFinancialInstruments2023-10-3104929503ns5:ShareCapital2024-10-3104929503ns5:ShareCapital2023-10-3104929503ns5:RetainedEarningsAccumulatedLosses2024-10-3104929503ns5:PlantMachinery2023-10-3104929503ns5:PlantMachinery2023-11-012024-10-3104929503ns5:PlantMachinery2024-10-3104929503ns5:PlantMachinery2023-10-3104929503ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-3104929503ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-3104929503ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-10-3104929503ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-10-31
REGISTERED NUMBER: 04929503 (England and Wales)












GLASS AFTERCARE LIMITED

Unaudited Financial Statements

for the Year Ended 31 October 2024






GLASS AFTERCARE LIMITED (REGISTERED NUMBER: 04929503)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GLASS AFTERCARE LIMITED

Company Information
for the Year Ended 31 October 2024







Director: R Milicevic





Registered office: Np-105, iCentre
Howard Way
Newport Pagnell
Milton Keynes
Buckinghamshire
MK16 9PY





Registered number: 04929503 (England and Wales)





Accountants: Michael Price Associates Ltd
NP-105, iCentre
Howard Way
Newport Pagnell
Milton Keynes
Buckinghamshire
MK16 9PY

GLASS AFTERCARE LIMITED (REGISTERED NUMBER: 04929503)

Balance Sheet
31 October 2024

31/10/24 31/10/23
as restated
Notes £    £    £    £   
Fixed assets
Tangible assets 4 18,704 15,188

Current assets
Stocks 108,180 58,250
Debtors 5 1,251,138 772,098
Cash at bank 6 64,127 217,275
1,423,445 1,047,623
Creditors
Amounts falling due within one year 7 748,558 485,032
Net current assets 674,887 562,591
Total assets less current liabilities 693,591 577,779

Creditors
Amounts falling due after more than one year 8 (235,583 ) (56,116 )

Provisions for liabilities (4,676 ) -
Net assets 453,332 521,663

Capital and reserves
Called up share capital 2 2
Retained earnings 453,330 521,661
453,332 521,663

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 19 February 2025 and were signed by:





R Milicevic - Director


GLASS AFTERCARE LIMITED (REGISTERED NUMBER: 04929503)

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

1. Statutory information

Glass Aftercare 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 is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contact value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment 25% on reducing balance
Fixtures and fittings 25% on reducing balance
Motor vehicles 25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.


GLASS AFTERCARE LIMITED (REGISTERED NUMBER: 04929503)

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

2. Accounting policies - continued
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.

Research and development
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development
expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

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.

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.

Going concern
The directors will continue to adopt the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future.

3. Employees and directors

The average number of employees during the year was 24 (2023 - 24 ) .

4. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 November 2023 57,722
Additions 9,750
At 31 October 2024 67,472
Depreciation
At 1 November 2023 42,534
Charge for year 6,234
At 31 October 2024 48,768
Net book value
At 31 October 2024 18,704
At 31 October 2023 15,188

5. Debtors: amounts falling due within one year
31/10/24 31/10/23
as restated
£    £   
Trade debtors 997,787 482,151
Amounts owed by group undertakings 94,721 76,741
Other debtors 14,268 27,514
Directors' current accounts 138,952 112,342
Prepayments and accrued income 5,410 -
R&D Tax Credit receivable - 73,350
1,251,138 772,098

GLASS AFTERCARE LIMITED (REGISTERED NUMBER: 04929503)

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

6. Cash at bank

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

7. Creditors: amounts falling due within one year
31/10/24 31/10/23
as restated
£    £   
Trade creditors 240,523 179,182
Amounts owed to group undertakings - 982
Corporation tax 25,574 -
CIS & PAYE Control Account 32,716 18,014
VAT 1,154 -
Barclaycard - Company ref: 547 6,023 5,427
TEAM FACTORS 302,523 110,213
Pension Control Account 8,952 10,988
Bank Loan Account 75,951 22,616
Accrued expenses 55,142 137,610
748,558 485,032

8. Creditors: amounts falling due after more than one year
31/10/24 31/10/23
as restated
£    £   
Bank loans and overdrafts > 1 235,583 56,116

9. Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

10. Ultimate controlling party

The controlling party is Integrasol Limited.

11. Factored debts

Trade debts are factored with full recourse and recorded gross within current assets after making due provision for changes. A corresponding liability is recognised in respect of the amounts drawn from the factor.
The interest element of the factoring charging and other factoring costs are recognised as they accrue and charged to the profit and loss account.