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REGISTERED NUMBER: 02159815 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Saper Glass Industries Limited

Saper Glass Industries Limited (Registered number: 02159815)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Saper Glass Industries Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: G M McCarthy
P J McCarthy
M G J Deeks
Mrs S A McCarthy





SECRETARY: Mrs S A McCarthy





REGISTERED OFFICE: Thames House
Longreach Road
Barking
Essex
IG11 0JR





REGISTERED NUMBER: 02159815 (England and Wales)

Saper Glass Industries Limited (Registered number: 02159815)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 456,195 325,213
Investments 5 1,044,793 1,019,793
1,500,988 1,345,006

CURRENT ASSETS
Stocks 150,200 150,200
Debtors 6 2,868,804 2,380,935
Cash at bank and in hand 47,509 84,720
3,066,513 2,615,855
CREDITORS
Amounts falling due within one year 7 2,691,041 1,963,647
NET CURRENT ASSETS 375,472 652,208
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,876,460

1,997,214

CREDITORS
Amounts falling due after more than one
year

8

(338,130

)

(593,839

)

PROVISIONS FOR LIABILITIES (109,000 ) -
NET ASSETS 1,429,330 1,403,375

CAPITAL AND RESERVES
Called up share capital 10 10
Other reserves 1,017,792 992,792
Retained earnings 411,528 410,573
SHAREHOLDERS' FUNDS 1,429,330 1,403,375

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Saper Glass Industries Limited (Registered number: 02159815)

Balance Sheet - continued
30 June 2024


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 Board of Directors and authorised for issue on 19 March 2025 and were signed on its behalf by:





P J McCarthy - Director


Saper Glass Industries Limited (Registered number: 02159815)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Saper Glass Industries 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.

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 as modified by the revaluation of certain assets.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
The financial statements contain information about Saper Glass Industries Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

TURNOVER
Turnover represents revenue due from construction contracts which is accounted for as noted under Construction contracts below.

Rental income is included in the accounts in the period in which it falls due.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

STOCKS
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials.

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' 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.

Cash and cash equivalents
These comprise cash at bank and any short term highly liquid bank deposits with an original maturity of three month or less.

Debtors
Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is evidence that the asset is impaired.

Trade creditors
Trade creditors are not interest bearing and are stated at their nominal value.

Saper Glass Industries Limited (Registered number: 02159815)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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.

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
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception of the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest element. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of liability.

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line over the lease term.

Where they have entered into sale and leaseback transactions that results in a finance lease the sale and repurchase of the asset are not recognised in the accounts.Any difference between the sales price and the carrying amount received is amortised over the term of the lease. The related financing is accounted for as for finance leases above..

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.

Saper Glass Industries Limited (Registered number: 02159815)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

CONSTRUCTION CONTRACTS
Where the outcome of a construction contract can be estimated reliably, revenue costs are recognised by reference to the stage of completion of the contract activity at he reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract costs are recognised as expenses in the period in which they are incurred and contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable.

The "percentage of completion method" is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for the work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

EQUITY INVESTMENTS
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2023 - 46 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 1,555,990
Additions 188,481
At 30 June 2024 1,744,471
DEPRECIATION
At 1 July 2023 1,230,777
Charge for year 57,499
At 30 June 2024 1,288,276
NET BOOK VALUE
At 30 June 2024 456,195
At 30 June 2023 325,213

Saper Glass Industries Limited (Registered number: 02159815)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2023 78,050
Additions 161,006
At 30 June 2024 239,056
DEPRECIATION
At 1 July 2023 31,903
Charge for year 8,753
At 30 June 2024 40,656
NET BOOK VALUE
At 30 June 2024 198,400
At 30 June 2023 46,147

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 July 2023 1,019,793
Revaluations 25,000
At 30 June 2024 1,044,793
NET BOOK VALUE
At 30 June 2024 1,044,793
At 30 June 2023 1,019,793

Cost or valuation at 30 June 2024 is represented by:

Shares in
group
undertakings
£   
Valuation in 2024 1,044,792
Cost 1
1,044,793

Saper Glass Industries Limited (Registered number: 02159815)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. FIXED ASSET INVESTMENTS - continued

The shares held in the subsidiary, which are in an unlisted investment, have been valued at he year end by the directors value at fair value in accordance with the company's accounting policy.

No deferred taxation has been provided on the fair value movement as any retained profits in the subsidiary would be paid to the company by way of dividend which would not incur a tax charge for the company.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 795,591 712,320
Other debtors 2,073,213 1,668,615
2,868,804 2,380,935

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 584,864 120,329
Hire purchase contracts (see note 9) 43,400 23,118
Trade creditors 1,713,849 1,479,065
Amounts owed to group undertakings 108,825 108,825
Taxation and social security 161,038 140,152
Other creditors 79,065 92,158
2,691,041 1,963,647

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 219,048 577,595
Hire purchase contracts (see note 9) 119,082 16,244
338,130 593,839

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.6.24 30.6.23
£    £   
Net obligations repayable:
Within one year 43,400 23,118
Between one and five years 119,082 16,244
162,482 39,362

Saper Glass Industries Limited (Registered number: 02159815)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank overdrafts 384,923 85,925
Bank loans 418,989 611,999
Hire purchase contracts 162,482 39,362
966,394 737,286

The bank loans and overdrafts are secured by a fixed and floating charge over the assets of the company.

The hire purchase contracts are secured against the assets concerned.

11. OTHER FINANCIAL COMMITMENTS

The company has a cross guarantee with Saper Longreach Limited, its subsidiary, to secure each others liabilities. At the year end, Saper Longreach Limited owed its bankers £1,023,220 (2023: £1,003,196).