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Registered number: 02297891
County Glassware Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Adders Accountants Ltd
Moulton Park Business Centre
Redhouse Road
Northampton
NN3 6AQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02297891
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 27,250 29,300
Tangible Assets 5 61,803 69,422
89,053 98,722
CURRENT ASSETS
Stocks 6 38,167 37,851
Debtors 7 94,269 147,960
Cash at bank and in hand 1,104 468
133,540 186,279
Creditors: Amounts Falling Due Within One Year 8 (73,797 ) (151,340 )
NET CURRENT ASSETS (LIABILITIES) 59,743 34,939
TOTAL ASSETS LESS CURRENT LIABILITIES 148,796 133,661
Creditors: Amounts Falling Due After More Than One Year 9 (126,857 ) (111,299 )
NET ASSETS 21,939 22,362
CAPITAL AND RESERVES
Called up share capital 10 20,100 20,100
Profit and Loss Account 1,839 2,262
SHAREHOLDERS' FUNDS 21,939 22,362
Page 1
Page 2
For the year ending 30 June 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
Mrs Denise Chinn
Director
05/03/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
County Glassware Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02297891 . The registered office is 4 Faraday Court, Park Farm Industrial Estate, Wellingborough, Northants , NN8 6XY.
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. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 10% RB
Plant & Machinery 10/15% SL
Motor Vehicles 15% SL
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 7)
6 7
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4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 38,200
As at 30 June 2024 38,200
Amortisation
As at 1 July 2023 8,900
Provided during the period 2,050
As at 30 June 2024 10,950
Net Book Value
As at 30 June 2024 27,250
As at 1 July 2023 29,300
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 July 2023 14,055 345,541 25,530 385,126
Additions - 9,892 - 9,892
Disposals - (4,484 ) (24,560 ) (29,044 )
As at 30 June 2024 14,055 350,949 970 365,974
Depreciation
As at 1 July 2023 10,840 279,334 25,530 315,704
Provided during the period 748 16,244 - 16,992
Disposals - (3,965 ) (24,560 ) (28,525 )
As at 30 June 2024 11,588 291,613 970 304,171
Net Book Value
As at 30 June 2024 2,467 59,336 - 61,803
As at 1 July 2023 3,215 66,207 - 69,422
6. Stocks
2024 2023
£ £
Finished goods 38,167 37,851
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 25,436 39,382
Other debtors 68,833 108,578
94,269 147,960
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 25,168 95,973
Bank loans and overdrafts 28,114 36,642
Other creditors 14,137 15,227
Taxation and social security 6,378 3,498
73,797 151,340
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 126,857 111,299
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 20,100 20,100
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