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Registration number: 04610294

Clarks Glass & Glazing Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Clarks Glass & Glazing Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4 to 5

Notes to the Unaudited Financial Statements

6 to 14

 

Clarks Glass & Glazing Limited

Company Information

Director

Mr Simon Clark

Company secretary

Mrs Nicola Clark

Registered office

Unit 10 Ringmer Business Centre
Chamberlaines Lane
Ringmer
Lewes
East Sussex
BN8 5NF

Accountants

Shoreline Accountants Ltd
25 Clinton Place
Seaford
East Sussex
BN25 1NP

 

Clarks Glass & Glazing Limited

Director's Report for the Year Ended 31 December 2024

The director presents his report and the financial statements for the year ended 31 December 2024.

Director of the company

The director who held office during the year was as follows:

Mr Simon Clark (appointed 29 February 2024)

Principal activity

The principal activity of the company is Other manufacturing not elsewhere classified

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 28 February 2025
 

.........................................
Mr Simon Clark
Director

 

Accountants Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Clarks Glass & Glazing Limited
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Clarks Glass & Glazing Limited for the year ended 31 December 2024 as set out on pages 4 to 14 from the company's accounting records and from information and explanations you have given us.

It is your duty to ensure that Clarks Glass & Glazing Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Clarks Glass & Glazing Limited. You consider that Clarks Glass & Glazing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Clarks Glass & Glazing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Shoreline Accountants Ltd
25 Clinton Place
Seaford
East Sussex
BN25 1NP

28 February 2025

 

Clarks Glass & Glazing Limited

(Registration number: 04610294)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

54,423

69,955

Current assets

 

Stocks

7

9,200

8,700

Debtors

8

49,127

80,027

Cash at bank and in hand

 

589,358

461,938

 

647,685

550,665

Creditors: Amounts falling due within one year

9

(174,524)

(167,150)

Net current assets

 

473,161

383,515

Total assets less current liabilities

 

527,584

453,470

Creditors: Amounts falling due after more than one year

9

(15,720)

(38,932)

Net assets

 

511,864

414,538

Capital and reserves

 

Called up share capital

10

2

2

Retained earnings

511,862

414,536

Shareholders' funds

 

511,864

414,538

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

54,423

69,955

Current assets

 

Stocks

7

9,200

8,700

Debtors

8

49,127

80,027

Cash at bank and in hand

 

589,358

461,938

 

647,685

550,665

Creditors: Amounts falling due within one year

9

(174,524)

(167,150)

Net current assets

 

473,161

383,515

Total assets less current liabilities

 

527,584

453,470

Creditors: Amounts falling due after more than one year

9

(15,720)

(38,932)

Net assets

 

511,864

414,538

Capital and reserves

 

Called up share capital

10

2

2

Retained earnings

511,862

414,536

Shareholders' funds

 

511,864

414,538

 

Clarks Glass & Glazing Limited

(Registration number: 04610294)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 28 February 2025
 

.........................................
Mr Simon Clark
Director

 

Clarks Glass & Glazing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in Other.

The address of its registered office is:
Unit 10 Ringmer Business Centre
Chamberlaines Lane
Ringmer
Lewes
East Sussex
BN8 5NF

The principal place of business is:
Unit 10 Ringmer Business Centre
Chamberlaines Lane
Ringmer
Lewes
East Sussex
BN8 5NF

These financial statements were authorised for issue by the director on 28 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Clarks Glass & Glazing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% Reducing Balance

Motor Vehicles

25% Reducing Balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

over 18 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Clarks Glass & Glazing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Clarks Glass & Glazing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2023 - 7).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

17,449

23,045

 

Clarks Glass & Glazing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

66,000

66,000

At 31 December 2024

66,000

66,000

Amortisation

At 1 January 2024

66,000

66,000

At 31 December 2024

66,000

66,000

Carrying amount

At 31 December 2024

-

-

6

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

43,350

665

191,173

235,188

Additions

559

1,358

-

1,917

At 31 December 2024

43,909

2,023

191,173

237,105

Depreciation

At 1 January 2024

39,525

-

125,708

165,233

Charge for the year

917

166

16,366

17,449

At 31 December 2024

40,442

166

142,074

182,682

Carrying amount

At 31 December 2024

3,467

1,857

49,099

54,423

At 31 December 2023

3,825

665

65,465

69,955

7

Stocks

2024
£

2023
£

Other inventories

9,200

8,700

 

Clarks Glass & Glazing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

45,962

79,224

Amounts owed by related parties

13

-

110

Prepayments

 

693

693

Other debtors

 

2,472

-

   

49,127

80,027

 

Clarks Glass & Glazing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

20,826

22,826

Trade creditors

 

42,591

71,762

Taxation and social security

 

108,685

70,140

Accruals and deferred income

 

1,800

1,800

Other creditors

 

622

622

 

174,524

167,150

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

15,720

38,932

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share capital of £1 each

2

2

2

2

       

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

15,720

37,684

Other borrowings

-

1,248

15,720

38,932

Current loans and borrowings

 

Clarks Glass & Glazing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

2024
£

2023
£

Bank borrowings

20,826

20,826

Other borrowings

-

2,000

20,826

22,826

12

Dividends

2024

2023

£

£

Interim dividend of £43,558.00 (2023 - £57,718.00) per ordinary share

87,177

115,436

 

 

13

Related party transactions

 

Clarks Glass & Glazing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

9,100

15,925