7 false false false false false false false false false false true false false false false false false No description of principal activity 2024-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 100,000 80,000 5,000 85,000 15,000 20,000 xbrli:pure xbrli:shares iso4217:GBP 06439468 2024-02-01 2025-01-31 06439468 2025-01-31 06439468 2024-01-31 06439468 2023-02-01 2024-01-31 06439468 2024-01-31 06439468 2023-01-31 06439468 core:NetGoodwill 2024-02-01 2025-01-31 06439468 core:PlantMachinery 2024-02-01 2025-01-31 06439468 core:FurnitureFittings 2024-02-01 2025-01-31 06439468 core:MotorVehicles 2024-02-01 2025-01-31 06439468 bus:Director1 2024-02-01 2025-01-31 06439468 core:NetGoodwill 2024-01-31 06439468 core:NetGoodwill 2025-01-31 06439468 core:PlantMachinery 2024-01-31 06439468 core:FurnitureFittings 2024-01-31 06439468 core:MotorVehicles 2024-01-31 06439468 core:PlantMachinery 2025-01-31 06439468 core:FurnitureFittings 2025-01-31 06439468 core:MotorVehicles 2025-01-31 06439468 core:WithinOneYear 2025-01-31 06439468 core:WithinOneYear 2024-01-31 06439468 core:ShareCapital 2025-01-31 06439468 core:ShareCapital 2024-01-31 06439468 core:RetainedEarningsAccumulatedLosses 2025-01-31 06439468 core:RetainedEarningsAccumulatedLosses 2024-01-31 06439468 core:BetweenOneFiveYears 2024-01-31 06439468 core:NetGoodwill 2024-01-31 06439468 core:PlantMachinery 2024-01-31 06439468 core:FurnitureFittings 2024-01-31 06439468 core:MotorVehicles 2024-01-31 06439468 bus:SmallEntities 2024-02-01 2025-01-31 06439468 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 06439468 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 06439468 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 06439468 bus:FullAccounts 2024-02-01 2025-01-31 06439468 core:ComputerEquipment 2024-02-01 2025-01-31 06439468 core:ComputerEquipment 2024-01-31 06439468 core:ComputerEquipment 2025-01-31
COMPANY REGISTRATION NUMBER: 06439468
Glass & Sealed Unit Centre Limited
Unaudited financial statements
31 January 2025
Glass & Sealed Unit Centre Limited
Statement of financial position
31 January 2025
2025
2024
Note
£
£
£
£
Fixed assets
Intangible assets
5
15,000
20,000
Tangible assets
6
41,612
32,651
-------
-------
56,612
52,651
Current assets
Stocks
20,791
15,390
Debtors
7
112,684
126,180
Cash at bank and in hand
153,071
158,137
---------
---------
286,546
299,707
Creditors: Amounts falling due within one year
8
( 125,690)
( 109,010)
---------
---------
Net current assets
160,856
190,697
---------
---------
Total assets less current liabilities
217,468
243,348
Provisions
Taxation including deferred tax
( 10,403)
( 8,163)
---------
---------
Net assets
207,065
235,185
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
206,965
235,085
---------
---------
Shareholders funds
207,065
235,185
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 January 2025 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Glass & Sealed Unit Centre Limited
Statement of financial position (continued)
31 January 2025
These financial statements were approved by the board of directors and authorised for issue on 20 March 2025 , and are signed on behalf of the board by:
S Pitcher
Director
Company registration number: 06439468
Glass & Sealed Unit Centre Limited
Notes to the financial statements
Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 21, Oakwood Industrial Centre, Harling Road, Snetterton, Norfolk, NR16 2JU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures & fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of employees during the year was 7 (2024: 7 ).
5. Intangible assets
Goodwill
£
Cost
At 1 February 2024 and 31 January 2025
100,000
---------
Amortisation
At 1 February 2024
80,000
Charge for the year
5,000
---------
At 31 January 2025
85,000
---------
Carrying amount
At 31 January 2025
15,000
---------
At 31 January 2024
20,000
---------
6. Tangible assets
Plant and machinery
Fixtures & fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 February 2024
33,258
785
69,500
2,808
106,351
Additions
114
17,490
17,604
-------
----
-------
------
---------
At 31 January 2025
33,372
785
86,990
2,808
123,955
-------
----
-------
------
---------
Depreciation
At 1 February 2024
29,466
204
42,457
1,573
73,700
Charge for the year
951
145
7,125
422
8,643
-------
----
-------
------
---------
At 31 January 2025
30,417
349
49,582
1,995
82,343
-------
----
-------
------
---------
Carrying amount
At 31 January 2025
2,955
436
37,408
813
41,612
-------
----
-------
------
---------
At 31 January 2024
3,792
581
27,043
1,235
32,651
-------
----
-------
------
---------
7. Debtors
2025
2024
£
£
Trade debtors
109,536
119,415
Other debtors
3,148
6,765
---------
---------
112,684
126,180
---------
---------
8. Creditors: Amounts falling due within one year
2025
2024
£
£
Trade creditors
42,492
54,648
Social security and other taxes
26,152
22,596
Other creditors
57,046
31,766
---------
---------
125,690
109,010
---------
---------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2025
2024
£
£
Not later than 1 year
5,850
13,868
Later than 1 year and not later than 5 years
5,850
------
-------
5,850
19,718
------
-------