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REGISTERED NUMBER: 04688803 (England and Wales)















DIRECTORS' REPORT AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

RADCLIFFE GLASS & WINDOWS LTD

RADCLIFFE GLASS & WINDOWS LTD (REGISTERED NUMBER: 04688803)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Directors' Report 2

Balance Sheet 4

Notes to the Financial Statements 6


RADCLIFFE GLASS & WINDOWS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mrs K Powers
Mr C Powers





SECRETARY: Mrs K Powers





REGISTERED OFFICE: 3 Lodge Road
Radcliffe
Manchester
M26 1AL





REGISTERED NUMBER: 04688803 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
3rd Floor
St George's House
56 Peter Street
Manchester
M2 3NQ

RADCLIFFE GLASS & WINDOWS LTD (REGISTERED NUMBER: 04688803)

DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024


The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company continued to be that of the installation of windows, doors and orangeries.

REVIEW OF BUSINESS
Radcliffe Glass & Windows Ltd celebrated its 45th year of Continuous trading and had a great 2024 to match this long-term business achievement. The company significantly increased its turnover and profitability compared to 2023, which is in stark contrast to the industry trend, where 47% of companies saw a decline in sales and over 25% had to cut jobs.

With the company having ended 2023 on a record quarter, it initially experienced a steady start to the first half of 2024. The second half of the year, however, produced impressive figures, with record months experienced in 5 out of the 6 months.

An increase in turnover and profitability had been expected and calculated within the Director's strategic planning; however, with growth aspirations not being the sole focus (due to the economic climate), the anticipation was that the sales would increase, albeit organically. The 11% increase in turnover and the 42% increase in net profit are a terrific performance and far exceed conservative predictions.

The strategic planning in 2022-23, by which the Directors pivoted from growth aspirations to the decision to reduce Long-Term and Short-Term Liabilities to secure the company's long-term future, worked very well. The success of the strategic planning enables the company to be very ambitious in 2025, with more investment planned alongside further actions to reduce the company's long-term and short-term liabilities for future years.

The company's decision to utilise its cash reserves to reduce liabilities over the past two years has had only a minimal impact on the balance sheet, as expected. This strategy has been incorporated into our planning, and our long-term goals remain unchanged.

The development of the land has had a significant impact on reducing breakages and damages, and has increased the efficiency of the logistical side of the business.

In addition to a successful year of trading, the company participated in three categories at the prestigious GGP National Installer Awards for the first time. Remarkably, all three entries reached the finals, highlighting Radcliffe Glass & Windows Ltd as one of the best in the UK. Winning the award for 'Best Feature Door' further solidified this recognition, providing a significant boost to both the team and Directors by officially naming them the best in the country.

The sustained success of Radcliffe Glass & Windows in recent accounting periods can be largely attributed to the development and implementation of new operational software that enhances efficiency and sales potential. Despite facing economic challenges in 2024, the company expects that its increased efficiency, significant debt reduction, and other strategic planning efforts will lead to substantial improvements in 2025.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Mrs K Powers
Mr C Powers

HOW DID RADCLIFFE GLASS & WINDOWS ARRIVE AT THIS POINT
The extensive experience of our long-serving Directors has helped us make significant progress while navigating the challenges posed by new legislation and a stagnant economy. As we celebrate our 45th anniversary, both our customers and supply partners recognise the 45-year legacy of Radcliffe Glass & Windows. This longevity and the trust we have built have greatly contributed to our sales performance during these uncertain times.


RADCLIFFE GLASS & WINDOWS LTD (REGISTERED NUMBER: 04688803)

DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

FUTURE OUTLOOK
In 2025, Radcliffe Glass & Windows intends to build on the previous year's successes by concentrating on the following areas:

Re Brand

Further Land Development

Showroom Refurbishment and Expansion of High Value Product Range

Operational Software Development

Online Marketing Strategy

Further Team Development

EXPANSION
Rebrand - To mark the company's broader ambitions, it is rebranding while maintaining close ties to its 45-year history of continuous trading. The pedigree and longevity of the company cannot be overstated, and the new brand will serve as a trading style of the company.

Land Development - In 2024, the company further developed the land it had purchased in 2016 by introducing a large glass storage container. The separation of frames and glass from the main building has increased efficiency whilst reducing errors, breakages and damages. The separation also future proofs the company's storage capacity by over 40%, enabling JIT to be operated, including a small contingency to plug any gaps in the installation schedule.

Due to the land's size, it is expected to be further developed in 2026-27 to incorporate 2 or 3 Retail/Industrial Units for sale or lease, with one unit reserved for the company's use.

Showroom Refurbishment and Expansion - In 2024, the company expanded the showroom area further by utilising existing space more efficiently. This has enabled even more products to be showcased and new product lines to be introduced with a higher-than-average order value. This success will be further continued with the fifth phase of refurbishment, focusing on high-end quality products, in 2025.

The new products and services will enable the Company to expand its offerings to existing and prospective customers, which is expected to increase sales turnover and profitability.

Company Software Development - By 2025, this will significantly increase internal efficiencies and improve the overall customer experience for our valued customers. The developments will increase Sales generated internally and lead to the reduction of marketing spending for the company pro rata.

Online Marketing Strategy - The development of a new website, plus online social media channels, will increase the company's exposure to potential customers over a larger area. The company's 45th Anniversary will be a central focus of marketing, outlining the uniqueness of the company's offering in comparison to our competitors.

Further Team Development - As the company is at the forefront of the latest products, all team members are to be coached and updated regularly to ensure they grow their expertise and enhance customer service levels. We have improved our recruitment and onboarding processes to ensure the correct skills and mindset of new employees match those of the current team.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr C Powers - Director


16 June 2025

RADCLIFFE GLASS & WINDOWS LTD (REGISTERED NUMBER: 04688803)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 539,785 498,769
539,785 498,769

CURRENT ASSETS
Stocks 44,123 47,159
Debtors 6 50,883 33,560
Cash at bank and in hand 229,903 301,521
324,909 382,240
CREDITORS
Amounts falling due within one year 7 256,418 287,554
NET CURRENT ASSETS 68,491 94,686
TOTAL ASSETS LESS CURRENT LIABILITIES 608,276 593,455

CREDITORS
Amounts falling due after more than one year 8 (98,212 ) (108,338 )

PROVISIONS FOR LIABILITIES (105,248 ) (72,220 )
NET ASSETS 404,816 412,897

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 187,376 181,376
Retained earnings 217,340 231,421
404,816 412,897

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

RADCLIFFE GLASS & WINDOWS LTD (REGISTERED NUMBER: 04688803)

BALANCE SHEET - continued
31 DECEMBER 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 16 June 2025 and were signed on its behalf by:





Mr C Powers - Director


RADCLIFFE GLASS & WINDOWS LTD (REGISTERED NUMBER: 04688803)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Radcliffe Glass & Windows Ltd 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.

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 as modified by the revaluation of certain assets.

Changes in accounting policies
Depreciation - Motor vehicles held under finance leases have been depreciated over the life of the lease. These were previously depreciated at 25% using reducing balance method. Depreciation in 2024 is significantly lower than the expected charge to account for this change. The net book value of the leased assets are correct at the period end.

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

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.

Computer software had been amortised over their useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 2% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance and over the life of the lease

Freehold property, which is property held for use in business operations has been valued using the revaluation model. Freehold property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently, is is measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


RADCLIFFE GLASS & WINDOWS LTD (REGISTERED NUMBER: 04688803)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

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.

Goodwill
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 of five years.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 90,000 10,776 100,776
AMORTISATION
At 1 January 2024
and 31 December 2024 90,000 10,776 100,776
NET BOOK VALUE
At 31 December 2024 - - -
At 31 December 2023 - - -

RADCLIFFE GLASS & WINDOWS LTD (REGISTERED NUMBER: 04688803)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and Motor
property property machinery vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 January 2024 360,000 5,000 91,642 180,260 636,902
Additions - - 3,555 43,107 46,662
Disposals - - - (5,200 ) (5,200 )
Revaluations 8,000 - - - 8,000
At 31 December 2024 368,000 5,000 95,197 218,167 686,364
DEPRECIATION
At 1 January 2024 - 971 76,827 60,335 138,133
Charge for year - 100 2,874 9,878 12,852
Eliminated on disposal - - - (4,406 ) (4,406 )
At 31 December 2024 - 1,071 79,701 65,807 146,579
NET BOOK VALUE
At 31 December 2024 368,000 3,929 15,496 152,360 539,785
At 31 December 2023 360,000 4,029 14,815 119,925 498,769

No fixed assets were held under hire purchase contracts at year end and £119,188 (2023 - £92,005) in respect of assets held under finance lease arrangements.

Freehold property with a cost of £118,165 was revalued in 2018 to £260,000 by the company directors. The valuation was based on recent market transactions on arm's length terms for similar properties at the time. The directors reviewed the fair value of the property as at 31 December 2019 and increased this by £100,000 to £360,000. Following an independent evaluation in January 2025, the fair value of the property increased by £8,000 to £368,000. The Directors believe this valuation represents the fair value of the property at 31 December 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,676 1,715
Amounts owed by participating interests 11,285 10,910
Other debtors 29,922 20,935
50,883 33,560

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) - 49,600
Trade creditors 119,693 144,432
Taxation and social security 125,494 82,722
Other creditors 11,231 10,800
256,418 287,554

RADCLIFFE GLASS & WINDOWS LTD (REGISTERED NUMBER: 04688803)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) - 27,634
Other creditors 98,212 80,704
98,212 108,338

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans - 49,600

Amounts falling due between two and five years:
Bank loans - 2-5 years - 27,634

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, the company operated a loan account with its directors Mr C Powers and Mrs K Powers.

At the balance sheet date, Mr C Powers owed the company a total of £5,745 (2023: £168 owed to director), the total balance is included within other debtors due within one year.

At the balance sheet date, Mrs K Powers owed the company a total of £5,745 (2023 - £168 owed to director) by the company, the total balance is included within other debtors due within one year.

There has been no interest charged during the year. The amounts owed by the directors have been repaid by way of dividends within 9 months of the year end.