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Registered number: 08693050
Glasseswebb Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
BBK Partnership
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors Mr Timothy Webb
Mrs Moira Webb
Mrs Jennifer Anne Pike
Company Number 08693050
Registered Office 1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Accountants BBK Partnership
Chartered Accountants & Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Page 1
Page 2
Balance Sheet
Registered number: 08693050
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,243 2,928
2,243 2,928
CURRENT ASSETS
Stocks 5 5,786 5,433
Debtors 6 4,786 6,864
Cash at bank and in hand 131,045 109,541
141,617 121,838
Creditors: Amounts Falling Due Within One Year 7 (33,406 ) (33,450 )
NET CURRENT ASSETS (LIABILITIES) 108,211 88,388
TOTAL ASSETS LESS CURRENT LIABILITIES 110,454 91,316
NET ASSETS 110,454 91,316
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 110,354 91,216
SHAREHOLDERS' FUNDS 110,454 91,316
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For the year ending 30 September 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.
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
Mr Timothy Webb
Director
24/06/2025
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Glasseswebb Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08693050 . The registered office is 1 Beauchamp Court, 10 Victors Way, Barnet, Hertfordshire, EN5 5TZ.
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. 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:
Motor Vehicles 25%
Fixtures & Fittings 20%
Computer Equipment 20%
2.4. 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.
2.5. 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.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2023 19,594 2,528 2,256 24,378
As at 30 September 2024 19,594 2,528 2,256 24,378
Depreciation
As at 1 October 2023 17,632 1,865 1,953 21,450
Provided during the period 491 133 61 685
As at 30 September 2024 18,123 1,998 2,014 22,135
Net Book Value
As at 30 September 2024 1,471 530 242 2,243
As at 1 October 2023 1,962 663 303 2,928
5. Stocks
2024 2023
£ £
Stock 5,786 5,433
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,786 6,864
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,761 5,685
Bank loans and overdrafts 5,909 5,909
Corporation tax 20,265 14,947
Other taxes and social security 82 81
VAT 1,070 1,981
Directors' loan accounts 3,319 4,847
33,406 33,450
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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