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REGISTERED NUMBER: 03511084 (England and Wales)


























Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Newark Glass Group Limited

Newark Glass Group Limited (Registered number: 03511084)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Newark Glass Group Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: D M Mason
P D Mason





SECRETARY: D M Mason





REGISTERED OFFICE: 37 Pelham Street
Newark
Nottinghamshire
NG24 4XD





REGISTERED NUMBER: 03511084 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Newark Glass Group Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Newark Glass Group Limited for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Newark Glass Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Newark Glass Group Limited and state those matters that we have agreed to state to the Board of Directors of Newark Glass Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Newark Glass Group Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Newark Glass Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Newark Glass Group Limited. You consider that Newark Glass Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Newark Glass Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES


28 April 2025

Newark Glass Group Limited (Registered number: 03511084)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 3,131 3,684
Investments 5 100,000 100,000
Investment property 6 1,370,000 1,370,000
1,473,131 1,473,684

CURRENT ASSETS
Debtors 7 123 123

CREDITORS
Amounts falling due within one year 8 476,428 453,637
NET CURRENT LIABILITIES (476,305 ) (453,514 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

996,826

1,020,170

CREDITORS
Amounts falling due after more than one
year

9

(361,017

)

(383,984

)

PROVISIONS FOR LIABILITIES (700 ) (700 )
NET ASSETS 635,109 635,486

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Share premium 358,115 358,115
Retained earnings -
undistributable reserves 267,324 267,324
Retained earnings 8,670 9,047
SHAREHOLDERS' FUNDS 635,109 635,486

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Newark Glass Group Limited (Registered number: 03511084)

Balance Sheet - continued
30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by:





P D Mason - Director


Newark Glass Group Limited (Registered number: 03511084)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Newark Glass Group 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.

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.

The accounts have been prepared on a going concern basis which assumes that the director's will continue to support the company. The director's have indicated an intention to continue to support the company for the foreseeable future. However if this support was not to continue then the going concern basis may not be appropriate because at 30 April 2024 the company's net liabilities exceeded its current assets by £476,305 (2023: £453,514).

Should the company not be able to continue trading, adjustments would need to be made to the value of the assets on the Balance Sheet. Provision would need to be made for any further liabilities which may arise and fixed assets would need to be reclassified as current assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The Company only enters into basic financial instrument transactions 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 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 Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Newark Glass Group Limited (Registered number: 03511084)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 May 2023
and 30 April 2024 25,876
DEPRECIATION
At 1 May 2023 22,192
Charge for year 553
At 30 April 2024 22,745
NET BOOK VALUE
At 30 April 2024 3,131
At 30 April 2023 3,684

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 100,000
NET BOOK VALUE
At 30 April 2024 100,000
At 30 April 2023 100,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 1,370,000
NET BOOK VALUE
At 30 April 2024 1,370,000
At 30 April 2023 1,370,000

Newark Glass Group Limited (Registered number: 03511084)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. INVESTMENT PROPERTY - continued

Cost or valuation of investment properties at 30 April 2024 is represented by:

£
Valuations 241,742
Cost 1,128,258
1,370,000
The investment properties were valued by the directors on an open market value basis on 30 April 2024.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 123 123

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 21,000 19,000
Amounts owed to group undertakings 361,714 313,875
Taxation and social security 79,857 77,869
Other creditors 13,857 42,893
476,428 453,637

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 361,017 383,984

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr 278,683 305,651

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 21,000 19,000
Bank loans 361,017 383,984
382,017 402,984

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

Newark Glass Group Limited (Registered number: 03511084)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

12. RELATED PARTY DISCLOSURES

Newark Glass Company Limited

The company owns 100% of the share capital in Newark Glass Company Limited. During the year transactions took place at market value. At the year end the company owed £361,714 (2023: £313,875) to the subsidiary company. This balance is included in creditors due within one year.

Directors' loan accounts

At the year end the company owed £Nil (2023: £29,564) to D M Mason. This balance is included in other creditors.