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REGISTERED NUMBER: 01508832 (England and Wales)














Financial Statements

for the Year Ended 31 July 2024

for

Maghull Double Glazing (Sales) Limited

Maghull Double Glazing (Sales) Limited (Registered number: 01508832)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Maghull Double Glazing (Sales) Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: I G Hollow
D Rimmer
R Hollow





SECRETARY: I G Hollow





REGISTERED OFFICE: Unit 1B, Sefton Industrial Estate
Sefton Lane
Maghull
Liverpool
Merseyside
L31 8BY





REGISTERED NUMBER: 01508832 (England and Wales)





ACCOUNTANTS: SB&P
Chartered Accountants
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

Maghull Double Glazing (Sales) Limited (Registered number: 01508832)

Statement of Financial Position
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 10,993 18,945

CURRENT ASSETS
Stocks 5 47,000 57,400
Debtors 6 3,727 28,223
Cash at bank and in hand 73,181 52,969
123,908 138,592
CREDITORS
Amounts falling due within one year 7 69,448 48,519
NET CURRENT ASSETS 54,460 90,073
TOTAL ASSETS LESS CURRENT LIABILITIES 65,453 109,018

CREDITORS
Amounts falling due after more than one year 8 (9,472 ) (19,695 )

PROVISIONS FOR LIABILITIES (2,694 ) (3,545 )
NET ASSETS 53,287 85,778

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 53,187 85,678
SHAREHOLDERS' FUNDS 53,287 85,778

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

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

Maghull Double Glazing (Sales) Limited (Registered number: 01508832)

Statement of Financial Position - continued
31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2025 and were signed on its behalf by:





I G Hollow - Director


Maghull Double Glazing (Sales) Limited (Registered number: 01508832)

Notes to the Financial Statements
for the Year Ended 31 July 2024


1. STATUTORY INFORMATION

Maghull Double Glazing (Sales) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents the fair value of goods and services provided under contracts with customers to the extent that there is a right to consideration. It is measured at fair value of the consideration due. Where goods and services are incomplete at the year end, turnover represents the value of the goods and services provided to that date based on an appropriate proportion of the total expected consideration at completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 10% on cost
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 3 ) .

Maghull Double Glazing (Sales) Limited (Registered number: 01508832)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023
and 31 July 2024 14,508 23,110 51,143 3,827 92,588
DEPRECIATION
At 1 August 2023 14,508 21,743 33,625 3,767 73,643
Charge for year - 696 7,196 60 7,952
At 31 July 2024 14,508 22,439 40,821 3,827 81,595
NET BOOK VALUE
At 31 July 2024 - 671 10,322 - 10,993
At 31 July 2023 - 1,367 17,518 60 18,945

5. STOCKS
31.7.24 31.7.23
£    £   
Stocks 47,000 57,400

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors - 25,535
Amounts owed by group undertakings 2,642 2,642
Other debtors 46 46
Prepayments 1,039 -
3,727 28,223

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 10,154 9,889
Trade creditors 34,677 19,881
Tax - 120
Social security and other taxes 1,610 1,885
VAT 14,322 4,866
Other creditors (1,645 ) 3
Directors' current accounts 6,316 6,316
Accruals and deferred income 4,014 5,559
69,448 48,519

Maghull Double Glazing (Sales) Limited (Registered number: 01508832)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans - 1-2 years 9,472 10,152
Bank loans - 2-5 years - 9,543
9,472 19,695

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 19,626 29,584

The "Bounce Back" bank loan is guaranteed by HM Government.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100 Ordinary £1 100 100