Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-3119true2023-04-01falseNo description of principal activity24falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07932223 2023-04-01 2024-03-31 07932223 2022-04-01 2023-03-31 07932223 2024-03-31 07932223 2023-03-31 07932223 1 2023-04-01 2024-03-31 07932223 d:Director1 2023-04-01 2024-03-31 07932223 c:Buildings c:ShortLeaseholdAssets 2023-04-01 2024-03-31 07932223 c:Buildings c:ShortLeaseholdAssets 2024-03-31 07932223 c:Buildings c:ShortLeaseholdAssets 2023-03-31 07932223 c:PlantMachinery 2023-04-01 2024-03-31 07932223 c:PlantMachinery 2024-03-31 07932223 c:PlantMachinery 2023-03-31 07932223 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07932223 c:MotorVehicles 2023-04-01 2024-03-31 07932223 c:MotorVehicles 2024-03-31 07932223 c:MotorVehicles 2023-03-31 07932223 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07932223 c:OfficeEquipment 2023-04-01 2024-03-31 07932223 c:OfficeEquipment 2024-03-31 07932223 c:OfficeEquipment 2023-03-31 07932223 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07932223 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07932223 c:Goodwill 2024-03-31 07932223 c:Goodwill 2023-03-31 07932223 c:CurrentFinancialInstruments 2024-03-31 07932223 c:CurrentFinancialInstruments 2023-03-31 07932223 c:Non-currentFinancialInstruments 2024-03-31 07932223 c:Non-currentFinancialInstruments 2023-03-31 07932223 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 07932223 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 07932223 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 07932223 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 07932223 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-03-31 07932223 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-03-31 07932223 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-03-31 07932223 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-03-31 07932223 c:ShareCapital 2024-03-31 07932223 c:ShareCapital 2023-03-31 07932223 c:RevaluationReserve 2023-04-01 2024-03-31 07932223 c:RevaluationReserve 2024-03-31 07932223 c:RevaluationReserve 2023-03-31 07932223 c:RetainedEarningsAccumulatedLosses 2024-03-31 07932223 c:RetainedEarningsAccumulatedLosses 2023-03-31 07932223 d:FRS102 2023-04-01 2024-03-31 07932223 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07932223 d:FullAccounts 2023-04-01 2024-03-31 07932223 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07932223 c:AcceleratedTaxDepreciationDeferredTax 2024-03-31 07932223 c:AcceleratedTaxDepreciationDeferredTax 2023-03-31 07932223 2 2023-04-01 2024-03-31 07932223 c:Goodwill c:OwnedIntangibleAssets 2023-04-01 2024-03-31 07932223 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 07932223









UK GLASS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
UK GLASS LIMITED
REGISTERED NUMBER: 07932223

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
3,861
4,190

Tangible assets
 6 
156,518
162,462

  
160,379
166,652

Current assets
  

Stocks
 7 
46,250
40,000

Debtors: amounts falling due within one year
 8 
514,385
398,445

Cash at bank and in hand
 9 
437
262

  
561,072
438,707

Creditors: amounts falling due within one year
 10 
(1,179,310)
(924,640)

Net current liabilities
  
 
 
(618,238)
 
 
(485,933)

Total assets less current liabilities
  
(457,859)
(319,281)

Creditors: amounts falling due after more than one year
 11 
(177,435)
(233,190)

Provisions for liabilities
  

Deferred tax
 13 
(39,129)
(30,868)

  
 
 
(39,129)
 
 
(30,868)

Net liabilities
  
(674,423)
(583,339)


Capital and reserves
  

Called up share capital 
  
2
2

Revaluation reserve
 14 
142,289
142,289

Profit and loss account
 14 
(816,714)
(725,630)

  
(674,423)
(583,339)


Page 1

 
UK GLASS LIMITED
REGISTERED NUMBER: 07932223
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 April 2025.




................................................
W S Evans
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
UK GLASS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

UK Glass Limited is a company limited by shares incorporated in England within the United Kingdom. The address of the registered office is given on the company information page of these financial statements. 
The company's principal activity is that of designing, manufacturing and installing glass structures. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The director has reviewed the company’s financial position and its ability to continue as a going concern. The director and the company’s management team have considered various options available to maintain operations as a going concern and meet its debt and other financial obligations as and when they fall due. Such options include, but is not limited to, restructuring and streamlining of the company’s operations. Additionally, the company is currently undergoing negotiations with the landlord in respect of the location where it operates and is expecting a favourable restructuring of the rent obligations. 
The director and the company’s management team have reviewed the trading performance and cash flow position after the reporting date which has significantly improved. Therefore, in the director's assessment the company has sufficient resources to continue operating as a going concern for a period of not less than 12 months from the approval date of the financial statements.

 
2.3

Revenue

Revenue comprises revenue recognised by a company in respect of specialist glass production and installations supplied during the year, exclusive of Value Added Tax and trade discounts. Income is recognised when the right to receive that income has been earned.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
UK GLASS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Long-term contracts

Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


  
2.9

Intangible fixed assets and amortisation

Licence costs have been capitalised as an intangible asset of the company on the basis that these costs will generate future economic benefits for a period greater than twelve months. The licences are initially recorded at cost and subsequent recognition is under the historic cost model less any accumulated amortisation and any accumulated impairment losses. The licence costs are amortised over the length of contractual agreements for the licences.
Amortisation is provided at the following rates: 
Licences:                                                     5-10% straight line

Page 4

 
UK GLASS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Short-term leasehold property
-
33%
straight line
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
25%
reducing balance

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Leasing and hire purchase

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
UK GLASS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

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. The following judgements have had the most significant effect on amounts recognised in the financial statements:
- Work in Progress is based on the completion stage of the project which is based on the costs incurred at the balance sheet date.


4.


Employees

The average monthly number of employees, including directors, during the year was 19 (2023 - 24).

Page 6

 
UK GLASS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Intangible assets




Licences

£



Cost


At 1 April 2023
6,911



At 31 March 2024

6,911



Amortisation


At 1 April 2023
2,721


Charge for the year on owned assets
329



At 31 March 2024

3,050



Net book value



At 31 March 2024
3,861



At 31 March 2023
4,190



Page 7

 
UK GLASS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
12,045
223,720
107,040
38,114
380,919


Additions
-
421
40,470
-
40,891



At 31 March 2024

12,045
224,141
147,510
38,114
421,810



Depreciation


At 1 April 2023
4,015
128,654
55,179
30,610
218,458


Charge for the year on owned assets
4,015
23,775
17,168
1,876
46,834



At 31 March 2024

8,030
152,429
72,347
32,486
265,292



Net book value



At 31 March 2024
4,015
71,712
75,163
5,628
156,518



At 31 March 2023
8,030
95,066
51,862
7,504
162,462


7.


Stocks

2024
2023
£
£

Finished goods and goods for resale
46,250
40,000

46,250
40,000


Page 8

 
UK GLASS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Debtors

2024
2023
£
£


Trade debtors
32,268
35,023

Other debtors
82,621
31,675

Prepayments and accrued income
221,894
216,520

Amounts recoverable on long term contracts
177,602
115,227

514,385
398,445



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
437
262

Less: bank overdrafts
(12,438)
-

(12,001)
262



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
12,438
-

Bank loans
50,000
50,000

Trade creditors
891,574
612,976

Other taxation and social security
179,753
198,924

Obligations under finance lease and hire purchase contracts
21,380
12,773

Other creditors
10,915
40,967

Accruals and deferred income
13,250
9,000

1,179,310
924,640


A floating charge is held against all company assets in favour of HSBC Bank Plc. This charge is in respect of  the overdraft facility.

Page 9

 
UK GLASS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
64,414
112,500

Net obligations under finance leases and hire purchase contracts
59,098
41,575

Other creditors
53,923
79,115

177,435
233,190



12.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
50,000
50,000


50,000
50,000

Amounts falling due 1-2 years

Bank loans
64,414
95,833


64,414
95,833

Amounts falling due 2-5 years

Bank loans
-
16,667


-
16,667


114,414
162,500


Page 10

 
UK GLASS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

13.


Deferred taxation




2024


£






At beginning of year
(30,868)


Charged to profit or loss
(8,261)



At end of year
(39,129)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(39,129)
(30,868)

(39,129)
(30,868)


14.


Reserves

Revaluation reserve

The revaluation reserve comprises of fair value gains relating to revalued plant and machinery. A transfer is made from the revaluation reserve to the profit and loss reserves equivalent to the excess depreciation that has been charged in respect of the revalued assets. The revaluation reserve is not a distributable reserve under the Companies Act 2006.  


15.


Post balance sheet events

Following the conclusion of negotiations with the Company's landlord after the reporting date, the financial statements for the subsequent accounting period will be adjusted by approximately £900,000 to reverse the provision for accumulated rent which is expected to have a positive impact on the Company's profit & loss account, before any taxation adjustments.

 
Page 11