Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-302025-05-13true262023-10-01falseNo description of principal activity23trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01549111 2023-10-01 2024-09-30 01549111 2022-10-01 2023-09-30 01549111 2024-09-30 01549111 2023-09-30 01549111 2022-10-01 01549111 c:Director2 2023-10-01 2024-09-30 01549111 d:PlantMachinery 2023-10-01 2024-09-30 01549111 d:PlantMachinery 2024-09-30 01549111 d:PlantMachinery 2023-09-30 01549111 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 01549111 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 01549111 d:MotorVehicles 2023-10-01 2024-09-30 01549111 d:MotorVehicles 2024-09-30 01549111 d:MotorVehicles 2023-09-30 01549111 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 01549111 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 01549111 d:OfficeEquipment 2023-10-01 2024-09-30 01549111 d:OfficeEquipment 2024-09-30 01549111 d:OfficeEquipment 2023-09-30 01549111 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 01549111 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 01549111 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 01549111 d:LeasedAssetsHeldAsLessee 2023-10-01 2024-09-30 01549111 d:CurrentFinancialInstruments 2024-09-30 01549111 d:CurrentFinancialInstruments 2023-09-30 01549111 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 01549111 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 01549111 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 01549111 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 01549111 d:ShareCapital 2024-09-30 01549111 d:ShareCapital 2023-09-30 01549111 d:CapitalRedemptionReserve 2024-09-30 01549111 d:CapitalRedemptionReserve 2023-09-30 01549111 d:RetainedEarningsAccumulatedLosses 2024-09-30 01549111 d:RetainedEarningsAccumulatedLosses 2023-09-30 01549111 d:AcceleratedTaxDepreciationDeferredTax 2024-09-30 01549111 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 01549111 c:FRS102 2023-10-01 2024-09-30 01549111 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 01549111 c:FullAccounts 2023-10-01 2024-09-30 01549111 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 01549111 2 2023-10-01 2024-09-30 01549111 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 01549111









GLASSEX LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
GLASSEX LIMITED
REGISTERED NUMBER: 01549111

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
871,247
472,096

Current assets
  

Stocks
  
585,196
714,996

Debtors: amounts falling due within one year
 5 
1,404,889
1,506,532

Cash at bank and in hand
  
2,207,586
2,535,727

  
4,197,671
4,757,255

Creditors: amounts falling due within one year
 6 
(1,127,271)
(2,053,036)

Net current assets
  
 
 
3,070,400
 
 
2,704,219

Total assets less current liabilities
  
3,941,647
3,176,315

Creditors: amounts falling due after more than one year
  
(47,044)
(100,260)

Provisions for liabilities
  

Deferred tax
 7 
(246,083)
(24,614)

Net assets
  
3,648,520
3,051,441


Capital and reserves
  

Called up share capital 
  
80
80

Capital redemption reserve
  
20
20

Profit and loss account
  
3,648,420
3,051,341

  
3,648,520
3,051,441


Page 1

 
GLASSEX LIMITED
REGISTERED NUMBER: 01549111
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider 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 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.

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 statement of income and retained earnings 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 13 May 2025.




A M Gibbons
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
GLASSEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Glassex Limited (the "company") is a private company limited by shares, incorporated in England and Wales, Its registration number is 01549111. The registered office is Unit 1 Io Centre, Lea Road, Waltham Abbey, EN9 1AS.

The principal activity of the company during the year under review was that of glass merchants.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Government grants

Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

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 charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
straight line
Motor vehicles
-
25%
straight line
Office equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

Page 3

 
GLASSEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and the estimated selling price less costs to complete and sell. At each reporting 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 the Statement of income and retained earnings. 

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.7

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.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. 

 
2.9

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of income and retained earnings on a straight-line basis over the lease term.

 
2.10

Leasing and hire purchases

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 profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
GLASSEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.12

Taxation

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.


 
2.13

Interest income

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


3.


Employees

The average monthly number of employees, including directors, during the year was 26 (2023 - 23).

Page 5

 
GLASSEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost


At 1 October 2023
552,776
1,072,644
52,955
1,678,375


Additions
432,600
205,479
-
638,079


Disposals
-
(91,421)
-
(91,421)



At 30 September 2024

985,376
1,186,702
52,955
2,225,033



Depreciation


At 1 October 2023
358,575
795,275
52,429
1,206,279


Charge for the year on owned assets
93,472
78,045
244
171,761


Charge for the year on financed assets
-
67,167
-
67,167


Disposals
-
(91,421)
-
(91,421)



At 30 September 2024

452,047
849,066
52,673
1,353,786



Net book value



At 30 September 2024
533,329
337,636
282
871,247



At 30 September 2023
194,201
277,369
526
472,096

Page 6

 
GLASSEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
632,644
812,334

Amounts owed by group undertakings
-
299,100

Other debtors
498,209
181,073

Prepayments and accrued income
274,036
214,025

1,404,889
1,506,532



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
161,131
337,256

Corporation tax
103,195
99,909

Other taxation and social security
35,022
30,771

Obligations under finance lease and hire purchase contracts
53,181
79,276

Other creditors
528,097
316,356

Accruals
246,645
1,189,468

1,127,271
2,053,036


Security
Net obligations under hire purchase contracts amounting to £53,181 (2023 - £79,276) are secured on the assets to which they relate. 

Page 7

 
GLASSEX LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Deferred taxation




2024
2023


£

£






At beginning of year
(24,614)
(43,077)


Utilised in year
(221,469)
18,463



At end of year
(246,083)
(24,614)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(246,083)
(24,614)


8.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and ammounted to £59,380 (2023 - £21,579). There were no outstanding or prepaid contributions at the year end (2023 - £Nil). 


9.


Related party transactions

At the year end, included within other debtors, are amounts of £Nil (2023 - £299,100) owed by its parent company.
At the year end, included within other debtors, are amounts of £341,062 
(2023 - £1,000) owed to companies under common control of the directors.

 
Page 8