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Registered number: 06237440
Architectural Glass Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Richards Associates Limited
North Lodge
Hawkesyard
Rugeley
Staffordshire
WS15 1PS
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06237440
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investments 4 501,875 501,875
501,875 501,875
CURRENT ASSETS
Debtors 5 9,626 9,626
9,626 9,626
Creditors: Amounts Falling Due Within One Year 6 (249,855 ) (249,775 )
NET CURRENT ASSETS (LIABILITIES) (240,229 ) (240,149 )
TOTAL ASSETS LESS CURRENT LIABILITIES 261,646 261,726
NET ASSETS 261,646 261,726
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 261,546 261,626
SHAREHOLDERS' FUNDS 261,646 261,726
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M Sutton
Director
28 February 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Architectural Glass Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06237440 . The registered office is 16 Gaialands Crescent, Lichfield, WS13 7LU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
The directors continue to adopt the going concern basis of accounting in preparing financial statements.
2.3. Investments
There is an investment in a subsidiary company and the value of the investment is shown at cost. The directors believe that there is no change in the value of this investment in this year.
2.4. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset were it sold at the Balance Sheet date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Investments
Other
£
Cost
As at 1 June 2023 501,875
As at 31 May 2024 501,875
Provision
As at 1 June 2023 -
As at 31 May 2024 -
...CONTINUED
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Net Book Value
As at 31 May 2024 501,875
As at 1 June 2023 501,875
The value of the investment in the subsidiary company is shown at cost. The directors believe that there is no change in the value of this investment in this year.
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 9,626 9,626
9,626 9,626
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Accruals and deferred income 100 120
Amounts owed to other participating interests 249,755 249,655
249,855 249,775
7. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
8. Related Party Disclosures
Xternal Solutions Limited
A company in which Mr and Mrs Sutton are also directors.
During the year there was a loan from Xternal Solutions Limited of £249,754 (2023: £249,654).
This loan is interest free and repayable upon demand.
Xternal Design Solutions Limited
A company in which Mr and Mrs Sutton are also directors.
During the year there was a loan to Xternal Design Solutions Limited of £9,626 (2023: £9,626).
This loan is interest free and repayable upon demand.
9. Controlling Parties
The company's ultimate controlling party is Mr and Mrs Sutton by virtue of their interest in the share capital of the company.
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10. Subsidiary
Architectural Glass Solutions Limited owns 100% (2023: 100%) of Xternal Solutions Limited, a company under common directorship.
11. Working Capital Deficit
Current liabilities exceed current assets however, the company is able to meet any liabilities that may fall due.
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