Company registration number 06815658 (England and Wales)
BOURNEMOUTH GLASS COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
BOURNEMOUTH GLASS COMPANY LIMITED
CONTENTS
Page
Strategic report
1 - 2
Balance sheet
3 - 4
Notes to the financial statements
5 - 10
BOURNEMOUTH GLASS COMPANY LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -

The directors present the strategic report for the year ended 31 August 2024.

Principal activities

The company, which has been trading for 16 years, provides UPVC, aluminum and composite window and door systems to a wide range of customers in Bournemouth and the surrounding area.

In addition to this core business, which continues, branded as “Residential”, two additional Business Divisions were created during this period. “Facades”, which specialises in designing complex building envelope cladding packages in a range of materials and “Secure” which has developed an innovative new window system aimed primarily at the Prison and Secure Unit market.

All three divisions operate in the UK, currently focused geographically on the South of England but with plans to expand. Most contracts are obtained by competitive tender.

Key performance indicators (KPIs)

The directors consider the following to be key performance indicators of the business:

 

 

 

31/08/2024

31/08/2023

31/03/2023

 

 

 

£

£

£

Turnover

 

 

1,845k

1,450k

2,546k

Gross profit

 

 

343k

506k

589k

Net profit/ (loss) after tax

 

 

(148k)

223k

127k

 

 

 

(full year)

(five months)

(full year)

Review of the business

On 08/09/2023 the current owner, AJGE Ltd, acquired 100% of the share capital of the company. Accounts were prepared for the period to 31/08/2023 (five months) and the accounting period will now remain as 31st August in line with AJGE Ltd.

Historically the business had a seasonal cycle of very high turnover / profitability in the summer, largely due to work in schools during the school summer holidays, and low profitability during Christmas / Winter as other work naturally diminished. Therefore the five month period to 31/08/23 captures the high part of this cycle.

Since acquisition there has been significant investment and reshaping of the Residential Division. This includes up skilling of the workforce with a range of industry specific technical as well as health and safety related training. This enables the teams to be deployed to better quality work on larger housing and commercial developments, where the barriers to entry are higher but bring with it a more consistent / less cyclical flow of work at improved margin.

The creation of the Facades Division during this period incurred additional costs of circa £150k including hiring three senior managers and setup costs of new office premises in Cambridge. Several projects have already been secured and this division is expected to contribute c. £3m to turnover in F/Y 25.

Another major investment made during the period was the establishment of the Secure Division and the development of a new, secure barless window. In excess of £100k has been spent with a milestone of successfully completing UK Ministry of Justice (MoJ) destruction testing. The long term potential for this product is excellent as it aligns with the UK government's ongoing prison expansion and refurbishment program.

Other investments have been made in Company IT / systems infrastructure, and specialist software, which has been put in place to provide efficient operation and allow for future growth of BGC.

In summary, this year has been a pivotal period for BGC, marked by strategic reshaping and the establishment of new divisions that are set to drive future growth. Outturn for F/Y 25 is forecast at c. £5m turnover at a Net Margin of c. 9% The Board are confident that the investments made will yield substantial returns and position BGC as a leading player in the glazing industry.

BOURNEMOUTH GLASS COMPANY LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
Research and development

Research and development will continue in the Secure Division as work on the Barless Window progresses. Ongoing R&D work includes lifecycle testing and a patent application.

Strategy and future developments

The strategy is for organic growth across all three divisions. Growth in the Residential Division will be partly through expanding geographically as well as increasing the number of customers who fit the correct profile. The Facades Division will aim to gradually increase the size of contracts won whilst spreading all work across a number of customers to avoid concentration. The Secure Division will aim to penetrate the market with the barless window product however this is likely to take some time and significant sales are not expected in F/Y 25.

On behalf of the board

Mr A J Price
Director
24 March 2025
BOURNEMOUTH GLASS COMPANY LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
125,232
32,972
Current assets
Stocks
105,061
108,999
Debtors
5
324,949
378,373
Cash at bank and in hand
314,033
151,045
744,043
638,417
Creditors: amounts falling due within one year
6
(653,917)
(549,673)
Net current assets
90,126
88,744
Total assets less current liabilities
215,358
121,716
Creditors: amounts falling due after more than one year
7
(236,627)
-
0
Provisions for liabilities
(16,012)
(8,243)
Net (liabilities)/assets
(37,281)
113,473
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(37,381)
113,373
Total equity
(37,281)
113,473
BOURNEMOUTH GLASS COMPANY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 4 -

For the financial year ended 31 August 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 24 March 2025 and are signed on its behalf by:
Mr A J Price
Director
Company registration number 06815658 (England and Wales)
BOURNEMOUTH GLASS COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
1
Accounting policies
Company information

Bournemouth Glass Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 7, Chantry Park, Poole, Dorset, United Kingdom, BH17 OUJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet 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. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
25% reducing balance
Motor vehicles
25% reducing balance
BOURNEMOUTH GLASS COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 6 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

BOURNEMOUTH GLASS COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 7 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

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

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

BOURNEMOUTH GLASS COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 8 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

BOURNEMOUTH GLASS COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 9 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
12
9
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023
73,246
Additions
127,066
At 31 August 2024
200,312
Depreciation and impairment
At 1 September 2023
40,274
Depreciation charged in the year
34,806
At 31 August 2024
75,080
Carrying amount
At 31 August 2024
125,232
At 31 August 2023
32,972
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
225,385
336,303
Other debtors
99,564
42,070
324,949
378,373
BOURNEMOUTH GLASS COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 10 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
-
0
37,582
Trade creditors
215,924
205,958
Taxation and social security
18,279
121,117
Other creditors
419,714
185,016
653,917
549,673
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
236,627
-
0
8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
16,012
8,243
2024
Movements in the year:
£
Liability at 1 September 2023
8,243
Charge to profit or loss
7,769
Liability at 31 August 2024
16,012
9
Related party transactions

AJGE Limited is the parent of the company.

During the year AJGE Limited loaned the company £236,627 which can be found under other borrowings, contained within the notes to the financial statements.

 

The loan is interest bearing at 5% per annum.

2024-08-312023-09-01falsefalsefalse24 March 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityMr C W PrestonMrs A J OakleyMr C J OakleyMr M SwinhoeMr A J Price068156582023-09-012024-08-3106815658bus:Director52023-09-012024-08-31068156582024-08-31068156582023-08-3106815658core:OtherPropertyPlantEquipment2024-08-3106815658core:OtherPropertyPlantEquipment2023-08-3106815658core:CurrentFinancialInstrumentscore:WithinOneYear2024-08-3106815658core:CurrentFinancialInstrumentscore:WithinOneYear2023-08-3106815658core:Non-currentFinancialInstrumentscore:AfterOneYear2024-08-3106815658core:Non-currentFinancialInstrumentscore:AfterOneYear2023-08-3106815658core:CurrentFinancialInstruments2024-08-3106815658core:CurrentFinancialInstruments2023-08-3106815658core:ShareCapital2024-08-3106815658core:ShareCapital2023-08-3106815658core:RetainedEarningsAccumulatedLosses2024-08-3106815658core:RetainedEarningsAccumulatedLosses2023-08-3106815658core:ComputerEquipment2023-09-012024-08-3106815658core:MotorVehicles2023-09-012024-08-31068156582023-04-012023-08-3106815658core:OtherPropertyPlantEquipment2023-08-3106815658core:OtherPropertyPlantEquipment2023-09-012024-08-3106815658core:WithinOneYear2024-08-3106815658core:WithinOneYear2023-08-3106815658core:Non-currentFinancialInstruments2024-08-3106815658core:Non-currentFinancialInstruments2023-08-3106815658bus:PrivateLimitedCompanyLtd2023-09-012024-08-3106815658bus:SmallCompaniesRegimeForAccounts2023-09-012024-08-3106815658bus:FRS1022023-09-012024-08-3106815658bus:AuditExemptWithAccountantsReport2023-09-012024-08-3106815658bus:Director12023-09-012024-08-3106815658bus:Director22023-09-012024-08-3106815658bus:Director32023-09-012024-08-3106815658bus:Director42023-09-012024-08-3106815658bus:FullAccounts2023-09-012024-08-31xbrli:purexbrli:sharesiso4217:GBP