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Registered number: 12275757









ST ALBANS GLAZING SYSTEMS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
ST ALBANS GLAZING SYSTEMS LTD
REGISTERED NUMBER: 12275757

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1,983
3,383

Tangible assets
 5 
34,682
43,859

  
36,665
47,242

Current assets
  

Stocks
  
4,915
24,450

Debtors: amounts falling due within one year
 6 
52,756
100,084

Cash at bank and in hand
 7 
60,042
101,905

  
117,713
226,439

Creditors: amounts falling due within one year
 8 
(295,027)
(420,425)

Net current liabilities
  
 
 
(177,314)
 
 
(193,986)

Total assets less current liabilities
  
(140,649)
(146,744)

Creditors: amounts falling due after more than one year
 9 
(10,840)
(21,911)

  

Net liabilities
  
(151,489)
(168,655)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(151,491)
(168,657)

  
(151,489)
(168,655)


Page 1

 
ST ALBANS GLAZING SYSTEMS LTD
REGISTERED NUMBER: 12275757
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 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 profit and loss account 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 by: 




S Cottenham
Director

Date: 21 July 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ST ALBANS GLAZING SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

St Albans Glazing Systems Ltd is a company limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the Company information page. The nature of the Company's operations and its principal activities are set out in the Directors’ report. 

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

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources as it receives and will continue to receive financial support from a connected company. It is judged that these are sufficient for ongoing operational existence in the foreseeable future. Therefore, the directors have adopted the going concern basis of accounting in preparing the financial statements. 

 
2.3

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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

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

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
ST ALBANS GLAZING SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

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, .

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
3 years straight line
Office equipment
-
3 years 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 profit or loss.

Page 4

 
ST ALBANS GLAZING SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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 profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 6).

Page 5

 
ST ALBANS GLAZING SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Intangible assets




Computer software

£



Cost


At 1 November 2023
4,200



At 31 October 2024

4,200



Amortisation


At 1 November 2023
817


Charge for the year on owned assets
1,400



At 31 October 2024

2,217



Net book value



At 31 October 2024
1,983



At 31 October 2023
3,383



Page 6

 
ST ALBANS GLAZING SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 November 2023
83,468
44,831
1,300
129,599


Additions
13,995
1,370
-
15,365


Disposals
(18,795)
-
-
(18,795)



At 31 October 2024

78,668
46,201
1,300
126,169



Depreciation


At 1 November 2023
46,652
37,788
1,300
85,740


Charge for the year on owned assets
3,499
3,616
-
7,115


Charge for the year on financed assets
6,463
-
-
6,463


Disposals
(7,831)
-
-
(7,831)



At 31 October 2024

48,783
41,404
1,300
91,487



Net book value



At 31 October 2024
29,885
4,797
-
34,682



At 31 October 2023
36,816
7,043
-
43,859

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
29,885
36,816

29,885
36,816

Page 7

 
ST ALBANS GLAZING SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Debtors

2024
2023
£
£


Trade debtors
12,992
32,917

Other debtors
20,676
21,012

Prepayments and accrued income
12,501
39,568

Tax recoverable
6,587
6,587

52,756
100,084



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
60,042
101,905

60,042
101,905



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
239,235
305,222

Other taxation and social security
5,261
15,719

Obligations under finance lease and hire purchase contracts
11,071
11,073

Other creditors
6,971
24,653

Accruals and deferred income
32,489
63,758

295,027
420,425



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
10,840
21,911

10,840
21,911


Page 8

 
ST ALBANS GLAZING SYSTEMS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
11,071
11,073

Between 1-5 years
10,840
21,911

21,911
32,984


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,615 (2023: £3,514) . Contributions totalling £544 (2023: £400) were payable to the fund at the balance sheet date and are included in creditors.


12.


Related party transactions

Included in other debtors is a balance of £1,748 (2023: £2,804) due to a related party connected by a common shareholder and £18,298 (2023: £18,298) due to directors. There is no interest paid on these amounts and the balance is repayable on demand.
Included in trade creditors is a balance of £221,114 (2023: £283,982) due to a related party connected by a common shareholder. There is no interest paid on this amount and the balance is repayable on demand.

 
Page 9