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Registered number: 04294988
Global Glass & Windows Limited
Unaudited Financial Statements
For The Year Ended 31 October 2024
The Boss Partnership
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 04294988
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 120,679 136,556
Investment Properties 6 100,000 100,000
220,679 236,556
CURRENT ASSETS
Stocks 7 300 300
Debtors 8 477,051 287,746
Cash at bank and in hand 392,060 353,199
869,411 641,245
Creditors: Amounts Falling Due Within One Year 10 (178,203 ) (134,205 )
NET CURRENT ASSETS (LIABILITIES) 691,208 507,040
TOTAL ASSETS LESS CURRENT LIABILITIES 911,887 743,596
Creditors: Amounts Falling Due After More Than One Year 11 (2,519 ) (6,749 )
NET ASSETS 909,368 736,847
CAPITAL AND RESERVES
Called up share capital 12 100 100
Other reserves 28,350 28,350
Profit and Loss Account 880,918 708,397
SHAREHOLDERS' FUNDS 909,368 736,847
Page 1
Page 2
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
G J Small
Director
02/06/2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Global Glass & Windows Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04294988 . The registered office is Unit 14 Hyssop Close, Cannock, Staffordshire, WS11 7FB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% SL
Plant & Machinery 25% RB
Motor Vehicles 25% RB
Fixtures & Fittings 15% RB
Computer Equipment 25% RB
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
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Page 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2023 110,000
As at 31 October 2024 110,000
Amortisation
As at 1 November 2023 110,000
As at 31 October 2024 110,000
Net Book Value
As at 31 October 2024 -
As at 1 November 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 November 2023 83,497 26,831 103,195 381
Additions - 921 - -
As at 31 October 2024 83,497 27,752 103,195 381
Depreciation
As at 1 November 2023 11,453 23,034 44,231 112
Provided during the period 1,670 963 14,741 40
As at 31 October 2024 13,123 23,997 58,972 152
Net Book Value
As at 31 October 2024 70,374 3,755 44,223 229
As at 1 November 2023 72,044 3,797 58,964 269
Computer Equipment Total
£ £
Cost
As at 1 November 2023 8,545 222,449
Additions 1,040 1,961
As at 31 October 2024 9,585 224,410
...CONTINUED
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Page 6
Depreciation
As at 1 November 2023 7,063 85,893
Provided during the period 424 17,838
As at 31 October 2024 7,487 103,731
Net Book Value
As at 31 October 2024 2,098 120,679
As at 1 November 2023 1,482 136,556
6. Investment Property
2024
£
Fair Value
As at 1 November 2023 and 31 October 2024 100,000
7. Stocks
2024 2023
£ £
Stock 300 300
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 22,331 6,053
Amounts recoverable on contracts 8,931 8,931
Other debtors 445,789 272,762
477,051 287,746
9. Current Asset Investments
10. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 29,379 17,204
Bank loans and overdrafts 4,230 4,230
Other creditors 78,296 84,047
Taxation and social security 66,298 28,724
178,203 134,205
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11. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 2,519 6,749
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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