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REGISTERED NUMBER: 02930541 (England and Wales)



















CLEARGLAZE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






CLEARGLAZE LIMITED (REGISTERED NUMBER: 02930541)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


CLEARGLAZE LIMITED (REGISTERED NUMBER: 02930541)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,788,968 1,692,981

CURRENT ASSETS
Stocks 65,728 285,523
Debtors 5 3,009,226 2,258,919
Cash at bank 253,013 146,460
3,327,967 2,690,902
CREDITORS
Amounts falling due within one year 6 1,532,807 1,083,923
NET CURRENT ASSETS 1,795,160 1,606,979
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,584,128

3,299,960

CREDITORS
Amounts falling due after more than one year 7 (554,200 ) (788,777 )

PROVISIONS FOR LIABILITIES (445,044 ) (319,889 )
NET ASSETS 2,584,884 2,191,294

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,584,784 2,191,194
SHAREHOLDERS' FUNDS 2,584,884 2,191,294

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

CLEARGLAZE LIMITED (REGISTERED NUMBER: 02930541)

BALANCE SHEET - continued
31 DECEMBER 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 April 2025 and were signed on its behalf by:





Mr S J Graziano - Director


CLEARGLAZE LIMITED (REGISTERED NUMBER: 02930541)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Clearglaze Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02930541

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
Herts
SG4 0TY

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.

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinions, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover is derived from sales of sealed units and is recognised when the goods are delivered to the customer. Turnover is recorded at the fair value of the consideration received or receivable, and excludes value added tax and rebates.

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.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

CLEARGLAZE LIMITED (REGISTERED NUMBER: 02930541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations are charged to profit or loss over the relevant period. The capital element of the future payments are treated as a liability.

CLEARGLAZE LIMITED (REGISTERED NUMBER: 02930541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2023 - 51 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2024 180,670 2,865,156 106,136
Additions - 307,823 29,771
At 31 December 2024 180,670 3,172,979 135,907
DEPRECIATION
At 1 January 2024 180,670 1,363,480 92,618
Charge for year - 228,655 5,174
At 31 December 2024 180,670 1,592,135 97,792
NET BOOK VALUE
At 31 December 2024 - 1,580,844 38,115
At 31 December 2023 - 1,501,676 13,518

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2024 262,173 120,310 3,534,445
Additions 36,628 2,498 376,720
At 31 December 2024 298,801 122,808 3,911,165
DEPRECIATION
At 1 January 2024 84,386 120,310 1,841,464
Charge for year 46,799 105 280,733
At 31 December 2024 131,185 120,415 2,122,197
NET BOOK VALUE
At 31 December 2024 167,616 2,393 1,788,968
At 31 December 2023 177,787 - 1,692,981

CLEARGLAZE LIMITED (REGISTERED NUMBER: 02930541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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
£   
COST
At 1 January 2024
and 31 December 2024 1,429,954
DEPRECIATION
At 1 January 2024 233,906
Charge for year 179,407
At 31 December 2024 413,313
NET BOOK VALUE
At 31 December 2024 1,016,641
At 31 December 2023 1,196,048

The net book value of tangible fixed assets includes £1,016,641 (2023 - £1,196,048) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 977,936 880,820
Amounts recoverable on contract 48,776 48,603
Other debtors 1,982,514 1,329,496
3,009,226 2,258,919

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 79,465 79,465
Hire purchase contracts 158,573 185,959
Trade creditors 421,124 498,550
Taxation and social security 529,433 208,777
Other creditors 344,212 111,172
1,532,807 1,083,923

CLEARGLAZE LIMITED (REGISTERED NUMBER: 02930541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 101,863 177,868
Hire purchase contracts 452,337 610,909
554,200 788,777

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase - 98,064

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 610,910 796,868

The hire purchase liabilities are secured over the assets they relate to.

9. RELATED PARTY DISCLOSURES

Aces Property Investments Limited
A company under the control of S J Graziano.

Amount due from the related party at the balance sheet date: £80,000 (2023 - £80,000).

Graziano Holdings Limited
A company over which S J Graziano and N Graziano have significant influence.

Amount due from the related party at the balance sheet date: £170,654 (2023 - £215,911).

10. ULTIMATE PARENT COMPANY

The ultimate parent company of Clearglaze Limited is Deuces Holdings Limited which was incorporated in England and Wales.

The registered office of the ultimate parent company is the same as that of Clearglaze Limited as shown on the Company Information page.

The parent company, Deuces Holdings Limited, has not prepared group accounts as it is exempted from the requirement to do so by Section 398 of the Companies Act 2006. The company meets the qualifying conditions for a small sized group as laid down in section 398 of the Act.