Company Registration No. 04863758 (England and Wales)
Bromyard Glass Limited
Unaudited accounts
for the year ended 31 August 2024
Bromyard Glass Limited
Unaudited accounts
Contents
Bromyard Glass Limited
Company Information
for the year ended 31 August 2024
Directors
Gillian Mary James
Bryan David James
Benjamin Alan James
Secretary
Gillian Mary James
Company Number
04863758 (England and Wales)
Registered Office
C/O BROMYARD GLASS, GLENDOWER
ROAD, SOUTHERN AVENUE
INDUSTRIAL ESTATE, LEOMINSTER
HEREFORDSHIRE
HR6 0RL
Accountants
The Practice - Chartered Management Accountants
2 New Street
Ledbury
Herefordshire
HR8 2DX
Bromyard Glass Limited
Statement of financial position
as at 31 August 2024
Intangible assets
124
1,974
Tangible assets
37,742
44,235
Cash at bank and in hand
39,102
47,055
Creditors: amounts falling due within one year
(53,846)
(53,250)
Net current assets
92,450
92,814
Total assets less current liabilities
130,316
139,023
Provisions for liabilities
Deferred tax
(6,975)
(10,177)
Net assets
123,341
128,846
Called up share capital
220
220
Profit and loss account
121,641
127,146
Shareholders' funds
123,341
128,846
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 May 2025 and were signed on its behalf by
Bryan David James
Director
Company Registration No. 04863758
Bromyard Glass Limited
Notes to the Accounts
for the year ended 31 August 2024
Bromyard Glass Limited is a private company, limited by shares, registered in England and Wales, registration number 04863758. The registered office is C/O BROMYARD GLASS, GLENDOWER, ROAD, SOUTHERN AVENUE, INDUSTRIAL ESTATE, LEOMINSTER, HEREFORDSHIRE, HR6 0RL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Leashold Property Improvements 50% on cost
Plant & machinery
20% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
20% on reducing balance
Computer equipment
33% on cost
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is twenty years.
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date if the fair value can be measured reliably.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis.
Patents and licences: 5% on cost
Bromyard Glass Limited
Notes to the Accounts
for the year ended 31 August 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
The tax expense represents the sum of the tax currently payable and deferred tax
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential
Bromyard Glass Limited
Notes to the Accounts
for the year ended 31 August 2024
4
Intangible fixed assets
Goodwill
Other
Total
At 1 September 2023
36,000
999
36,999
At 31 August 2024
36,000
999
36,999
At 1 September 2023
34,200
825
35,025
Charge for the year
1,800
50
1,850
At 31 August 2024
36,000
875
36,875
At 31 August 2024
-
124
124
At 31 August 2023
1,800
174
1,974
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 September 2023
2,517
151,764
32,460
4,979
28,463
220,183
At 31 August 2024
2,517
151,764
32,460
4,979
29,354
221,074
At 1 September 2023
2,517
128,984
12,680
4,814
26,953
175,948
Charge for the year
-
2,288
3,955
20
1,121
7,384
At 31 August 2024
2,517
131,272
16,635
4,834
28,074
183,332
At 31 August 2024
-
20,492
15,825
145
1,280
37,742
At 31 August 2023
-
22,780
19,780
165
1,510
44,235
Amounts falling due within one year
Trade debtors
40,833
57,220
Accrued income and prepayments
6,656
5,372
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
21,625
20,141
Taxes and social security
24,773
23,870
Other creditors
2,300
1,487
Loans from directors
5,148
7,752
Bromyard Glass Limited
Notes to the Accounts
for the year ended 31 August 2024
Allotted, called up and fully paid:
154 Ordinary A of £1 each
154
154
66 Ordinary B of £1 each
66
66
9
Transactions with related parties
Directors' Loan - Loans from Directors 0% interest, with no set repayment date.
Loan £5,148 (2023 - £7,752)
The Ultimate controlling party is Mr B D James and Mrs GM James
11
Average number of employees
During the year the average number of employees was 9 (2023: 9).