25 31 March 2025 false false false false false false false false false false true false false false false true false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 422,828 123,087 299,741 xbrli:pure xbrli:shares iso4217:GBP 03816408 2023-05-01 2024-04-30 03816408 2024-04-30 03816408 2023-04-30 03816408 2022-05-01 2023-04-30 03816408 2023-04-30 03816408 2022-04-30 03816408 core:PlantMachinery 2023-05-01 2024-04-30 03816408 core:FurnitureFittings 2023-05-01 2024-04-30 03816408 core:MotorVehicles 2023-05-01 2024-04-30 03816408 bus:Director1 2023-05-01 2024-04-30 03816408 core:PlantMachinery 2023-04-30 03816408 core:FurnitureFittings 2023-04-30 03816408 core:MotorVehicles 2023-04-30 03816408 core:PlantMachinery 2024-04-30 03816408 core:FurnitureFittings 2024-04-30 03816408 core:MotorVehicles 2024-04-30 03816408 core:DeferredTaxation 2023-05-01 2024-04-30 03816408 core:WithinOneYear 2024-04-30 03816408 core:WithinOneYear 2023-04-30 03816408 core:UKTax 2023-05-01 2024-04-30 03816408 core:UKTax 2022-05-01 2023-04-30 03816408 core:ShareCapital 2024-04-30 03816408 core:ShareCapital 2023-04-30 03816408 core:RetainedEarningsAccumulatedLosses 2024-04-30 03816408 core:RetainedEarningsAccumulatedLosses 2023-04-30 03816408 core:AcceleratedTaxDepreciationDeferredTax 2024-04-30 03816408 core:AcceleratedTaxDepreciationDeferredTax 2023-04-30 03816408 core:PlantMachinery 2023-04-30 03816408 core:FurnitureFittings 2023-04-30 03816408 core:MotorVehicles 2023-04-30 03816408 core:DeferredTaxation 2023-04-30 03816408 core:DeferredTaxation 2024-04-30 03816408 bus:SmallEntities 2023-05-01 2024-04-30 03816408 bus:Audited 2023-05-01 2024-04-30 03816408 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 03816408 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03816408 bus:FullAccounts 2023-05-01 2024-04-30
COMPANY REGISTRATION NUMBER: 03816408
EUROPEAN TOUGHENED GLASS (MANCHESTER) LIMITED
FILLETED FINANCIAL STATEMENTS
30 April 2024
EUROPEAN TOUGHENED GLASS (MANCHESTER) LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
6
1,250,512
1,488,749
Current assets
Stocks
79,165
147,939
Debtors
7
1,718,604
1,050,907
Cash at bank and in hand
98,182
79,081
-------------
-------------
1,895,951
1,277,927
Creditors: amounts falling due within one year
8
5,512,932
5,081,273
-------------
-------------
Net current liabilities
3,616,981
3,803,346
-------------
-------------
Total assets less current liabilities
( 2,366,469)
( 2,314,597)
Provisions
Taxation including deferred tax
9
299,741
422,828
-------------
-------------
Net liabilities
( 2,666,210)
( 2,737,425)
-------------
-------------
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss account
11
( 2,676,210)
( 2,747,425)
-------------
-------------
Shareholders deficit
( 2,666,210)
( 2,737,425)
-------------
-------------
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 statement of income and retained earnings has not been delivered.
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.
EUROPEAN TOUGHENED GLASS (MANCHESTER) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 31 March 2025 , and are signed on behalf of the board by:
M Johal
Director
Company registration number: 03816408
EUROPEAN TOUGHENED GLASS (MANCHESTER) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 168 Church Road, Hove, East Sussex, BN3 2DL.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
In accordance with their responsibilities, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements. For this purpose, the directors have considered the adequacy of the company's cash resources covering the period 12 months ahead of the approval of these financial statements. The directors have reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis in preparing these financial statements.
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. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
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.
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 & machinery
-
5% straight line
Fixtures & fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 25 (2023: 28 ).
5. Tax on profit/(loss)
Major components of tax (income)/expense
2024
2023
£
£
Current tax:
UK current tax expense
57,212
1,495
Deferred tax:
Origination and reversal of timing differences
( 123,087)
48,869
----------
---------
Tax on profit/(loss)
( 65,875)
50,364
----------
---------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2023
6,409,440
320,917
135,565
6,865,922
Additions
50
50
Disposals
( 84,139)
( 84,139)
-------------
----------
----------
-------------
At 30 April 2024
6,325,351
320,917
135,565
6,781,833
-------------
----------
----------
-------------
Depreciation
At 1 May 2023
4,968,982
273,157
135,034
5,377,173
Charge for the year
193,045
9,573
133
202,751
Disposals
( 48,603)
( 48,603)
-------------
----------
----------
-------------
At 30 April 2024
5,113,424
282,730
135,167
5,531,321
-------------
----------
----------
-------------
Carrying amount
At 30 April 2024
1,211,927
38,187
398
1,250,512
-------------
----------
----------
-------------
At 30 April 2023
1,440,458
47,760
531
1,488,749
-------------
----------
----------
-------------
7. Debtors
2024
2023
£
£
Trade debtors
102,174
256,942
Amounts owed by group undertakings
715,586
483,062
Prepayments and accrued income
794,588
118,957
Amounts owed by related parties
106,256
191,946
-------------
-------------
1,718,604
1,050,907
-------------
-------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
581,938
397,149
Amounts owed to group undertakings and undertakings in which the company has a participating interest
3,348,616
3,142,588
Corporation tax
57,382
1,495
Social security and other taxes
48,725
61,485
Other creditors
1,476,271
1,478,556
-------------
-------------
5,512,932
5,081,273
-------------
-------------
9. Provisions
Deferred tax (note 10)
£
At 1 May 2023
422,828
Additions
( 123,087)
----------
At 30 April 2024
299,741
----------
10. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions (note 9)
299,741
422,828
----------
----------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
299,741
422,828
----------
----------
11. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
12. Summary audit opinion
The auditor's report dated 31 March 2025 was unqualified .
The senior statutory auditor was David Guest FCA , for and on behalf of UHY Hacker Young (S.E.) Limited .
13. Related party transactions
The company is less than 100% owned within the group. The company had the following transactions and balances with fellow group undertakings, namely: At 30 April 2024, creditors, amounts falling due within one year, included amounts owed to group undertakings and undertakings in which the company has a participating interest, amounting to £3,348,616 (2023: £3,142,588), in respect of loans. The loans are interest free, unsecured and repayable on demand. At 30 April 2024, debtors included amounts due from group undertakings amounting to £715,586 (2023: £483,062), in respect of loans. The loans are interest free, unsecured and repayable on demand. At 30 April 2024, debtors included amounts due from related parties amounting to £106,256 (2023: £191,946), in respect of loans to companies under common control. The loans are interest free, unsecured and repayable on demand. During the year, the company recognised income receivable amounting £613,797 (2023: £145,853),from related parties under common control.
14. Controlling party
The company is an 80% subsidiary of European Glass Group Limited, a company incorporated in England and Wales and which prepares consolidated accounts. The registered office of European Glass Group Limited is 168 Church Road, Hove, East Sussex, BN32DL. The ultimate controlling parties are M Johal and F Johal through their control of European Glass Group Limited.