IRIS Accounts Production v25.1.0.734 02955676 director 1.10.23 30.9.24 30.9.24 true false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh029556762023-09-30029556762024-09-30029556762023-10-012024-09-30029556762022-09-30029556762022-10-012023-09-30029556762023-09-3002955676ns15:EnglandWales2023-10-012024-09-3002955676ns14:PoundSterling2023-10-012024-09-3002955676ns10:Director12023-10-012024-09-3002955676ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3002955676ns10:SmallEntities2023-10-012024-09-3002955676ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-3002955676ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3002955676ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3002955676ns10:FullAccounts2023-10-012024-09-300295567612023-10-012024-09-3002955676ns10:OrdinaryShareClass12023-10-012024-09-3002955676ns10:RegisteredOffice2023-10-012024-09-3002955676ns5:CurrentFinancialInstruments2024-09-3002955676ns5:CurrentFinancialInstruments2023-09-3002955676ns5:Non-currentFinancialInstruments2024-09-3002955676ns5:Non-currentFinancialInstruments2023-09-3002955676ns5:ShareCapital2024-09-3002955676ns5:ShareCapital2023-09-3002955676ns5:RetainedEarningsAccumulatedLosses2024-09-3002955676ns5:RetainedEarningsAccumulatedLosses2023-09-3002955676ns5:NetGoodwill2023-10-012024-09-3002955676ns5:IntangibleAssetsOtherThanGoodwill2023-10-012024-09-3002955676ns5:LongLeaseholdAssetsns5:LandBuildings2023-10-012024-09-3002955676ns5:PlantMachinery2023-10-012024-09-3002955676ns5:FurnitureFittings2023-10-012024-09-3002955676ns5:MotorVehicles2023-10-012024-09-3002955676ns5:NetGoodwill2023-09-3002955676ns5:NetGoodwill2024-09-3002955676ns5:NetGoodwill2023-09-3002955676ns5:LongLeaseholdAssetsns5:LandBuildings2023-09-3002955676ns5:PlantMachinery2023-09-3002955676ns5:FurnitureFittings2023-09-3002955676ns5:MotorVehicles2023-09-3002955676ns5:LongLeaseholdAssetsns5:LandBuildings2024-09-3002955676ns5:PlantMachinery2024-09-3002955676ns5:FurnitureFittings2024-09-3002955676ns5:MotorVehicles2024-09-3002955676ns5:LongLeaseholdAssetsns5:LandBuildings2023-09-3002955676ns5:PlantMachinery2023-09-3002955676ns5:FurnitureFittings2023-09-3002955676ns5:MotorVehicles2023-09-3002955676ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-09-3002955676ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-09-3002955676ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-10-012024-09-3002955676ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-09-3002955676ns5:CostValuation2023-09-3002955676ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3002955676ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3002955676ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-09-3002955676ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-09-3002955676ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-09-3002955676ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-09-3002955676ns5:HirePurchaseContracts2024-09-3002955676ns5:HirePurchaseContracts2023-09-3002955676ns5:WithinOneYear2024-09-3002955676ns5:WithinOneYear2023-09-3002955676ns5:BetweenOneFiveYears2024-09-3002955676ns5:BetweenOneFiveYears2023-09-3002955676ns5:AllPeriods2024-09-3002955676ns5:AllPeriods2023-09-3002955676ns5:Secured2024-09-3002955676ns5:Secured2023-09-3002955676ns10:OrdinaryShareClass12024-09-30
REGISTERED NUMBER: 02955676 (England and Wales)











CROFT GLASS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024






CROFT GLASS LIMITED (REGISTERED NUMBER: 02955676)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 9


CROFT GLASS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTOR: M J Gardiner





REGISTERED OFFICE: 20 Eversley Road
Bexhill-on-Sea
East Sussex
TN40 1HE





REGISTERED NUMBER: 02955676 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
20 Eversley Road
Bexhill-on-Sea
East Sussex
TN40 1HE

CROFT GLASS LIMITED (REGISTERED NUMBER: 02955676)

BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 243,259 278,977
Investments 6 100 100
243,359 279,077

CURRENT ASSETS
Stocks 64,424 43,136
Debtors 7 722,546 708,997
Cash in hand 390 340
787,360 752,473
CREDITORS
Amounts falling due within one year 8 510,192 596,838
NET CURRENT ASSETS 277,168 155,635
TOTAL ASSETS LESS CURRENT
LIABILITIES

520,527

434,712

CREDITORS
Amounts falling due after more than one
year

9

(45,512

)

(42,420

)

PROVISIONS FOR LIABILITIES (11,068 ) (15,905 )
NET ASSETS 463,947 376,387

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 463,847 376,287
SHAREHOLDERS' FUNDS 463,947 376,387

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CROFT GLASS LIMITED (REGISTERED NUMBER: 02955676)

BALANCE SHEET - continued
30TH SEPTEMBER 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 director and authorised for issue on 7th May 2025 and were signed by:





M J Gardiner - Director


CROFT GLASS LIMITED (REGISTERED NUMBER: 02955676)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


1. STATUTORY INFORMATION

Croft Glass 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.

Preparation of consolidated financial statements
The financial statements contain information about Croft Glass Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 1994, has been fully amortised over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Long leasehold - 2% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures, fittings and equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

CROFT GLASS LIMITED (REGISTERED NUMBER: 02955676)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

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.

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.

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

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

CROFT GLASS LIMITED (REGISTERED NUMBER: 02955676)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st October 2023
and 30th September 2024 17,000
AMORTISATION
At 1st October 2023
and 30th September 2024 17,000
NET BOOK VALUE
At 30th September 2024 -
At 30th September 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Long Plant and and Motor
leasehold machinery equipment vehicles Totals
£    £    £    £    £   
COST
At 1st October 2023
and 30th September
2024

376,511

71,122

94,375

232,032

774,040
DEPRECIATION
At 1st October 2023 210,248 71,005 93,242 120,568 495,063
Charge for year 7,530 30 290 27,868 35,718
At 30th September 2024 217,778 71,035 93,532 148,436 530,781
NET BOOK VALUE
At 30th September 2024 158,733 87 843 83,596 243,259
At 30th September 2023 166,263 117 1,133 111,464 278,977

CROFT GLASS LIMITED (REGISTERED NUMBER: 02955676)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st October 2023 136,655
Transfer to ownership (24,995 )
At 30th September 2024 111,660
DEPRECIATION
At 1st October 2023 52,078
Charge for year 21,145
Transfer to ownership (17,087 )
At 30th September 2024 56,136
NET BOOK VALUE
At 30th September 2024 55,524
At 30th September 2023 84,577

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakin
£   
COST
At 1st October 2023
and 30th September 2024 100
NET BOOK VALUE
At 30th September 2024 100
At 30th September 2023 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 71,637 81,694
Amounts owed by group undertakings 646,538 622,108
Other debtors 4,371 5,195
722,546 708,997

CROFT GLASS LIMITED (REGISTERED NUMBER: 02955676)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 33,434 21,187
Hire purchase contracts (see note 10) 24,877 47,248
Deposits held in advance 207,676 247,514
Trade creditors 131,292 186,968
Amounts owed to group undertakings 153 153
Taxation and social security 84,884 81,344
Other creditors 27,876 12,424
510,192 596,838

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 36,033 6,168
Hire purchase contracts (see note 10) 9,479 36,252
45,512 42,420

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 24,877 47,248
Between one and five years 9,479 36,252
34,356 83,500

Non-cancellable operating leases
2024 2023
£    £   
Within one year 36,000 55,000
Between one and five years 66,000 124,167
102,000 179,167

CROFT GLASS LIMITED (REGISTERED NUMBER: 02955676)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 7,340 15,269
Bank loans 62,127 -
Hire purchase contracts 34,356 83,500
103,823 98,769

The bank loan and overdraft is secured on a fixed and floating charge over the assets of the company.
The net obligations under hire purchase contracts are secured on the assets to which they relate.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

13. PARENT COMPANY

The company is a subsidiary of Saracen Holdings Limited, a company incorporated in England and Wales. The parent company has the same registered office address as the company.