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Company registration number: 02052685
Glasslights Ltd
Trading as Tynant Nursing Home
Unaudited filleted financial statements
31 October 2024
Glasslights Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Glasslights Ltd
Directors and other information
Directors Dr Riaz Ahmad
Teresa Ahmad
Secretary Dr Riaz Ahmad
Company number 02052685
Registered office Viaduct Road
Cymmer
Port Talbot
SA13 3NR
Business address Viaduct Road
Cymmer
Port Talbot
SA13 3NR
Accountants C C Jenkins & Partners Ltd
34 - 35 Tydraw Street
Port Talbot
West Glamorgan
SA13 1BT
Bankers Barclays Bank Plc
Kingsway Business Center
Swansea
Nat West Plc
Solicitors Cameron,Jones,Hussell & Howe
1/3 Grove Place
Port Talbot
SA13 1BT
Glasslights Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Glasslights Ltd
Year ended 31 October 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 October 2024 which comprise the statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
C C Jenkins & Partners Ltd
Chartered Certified Accountants
34 - 35 Tydraw Street
Port Talbot
West Glamorgan
SA13 1BT
3 July 2025
Glasslights Ltd
Statement of financial position
31 October 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 1,502,571 1,549,256
_______ _______
1,502,571 1,549,256
Current assets
Stocks 3,500 3,500
Debtors 6 84,653 27,045
Cash at bank and in hand 681,435 562,782
_______ _______
769,588 593,327
Creditors: amounts falling due
within one year 7 ( 246,758) ( 383,633)
_______ _______
Net current assets 522,830 209,694
_______ _______
Total assets less current liabilities 2,025,401 1,758,950
Creditors: amounts falling due
after more than one year 8 ( 51,800) ( 171,812)
_______ _______
Net assets 1,973,601 1,587,138
_______ _______
Capital and reserves
Called up share capital 2,902 2,902
Profit and loss account 1,970,699 1,584,236
_______ _______
Shareholders funds 1,973,601 1,587,138
_______ _______
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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 July 2025 , and are signed on behalf of the board by:
Dr Riaz Ahmad
Director
Company registration number: 02052685
Glasslights Ltd
Notes to the financial statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in UK. The address of the registered office is Tynant, Viaduct Road, Cymmer, Port Talbot, SA13 3NR.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - 2 % straight line
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: 110 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 November 2023 and 31 October 2024 2,226,436 70,814 368,230 25,425 2,690,905
_______ _______ _______ _______ _______
Depreciation
At 1 November 2023 685,809 69,874 362,521 23,445 1,141,649
Charge for the year 44,528 235 1,427 495 46,685
_______ _______ _______ _______ _______
At 31 October 2024 730,337 70,109 363,948 23,940 1,188,334
_______ _______ _______ _______ _______
Carrying amount
At 31 October 2024 1,496,099 705 4,282 1,485 1,502,571
_______ _______ _______ _______ _______
At 31 October 2023 1,540,627 940 5,709 1,980 1,549,256
_______ _______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 84,653 27,045
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 115,867 93,411
Corporation tax ( 86,708) 115,214
Social security and other taxes 29,532 16,159
Other creditors 188,067 158,849
_______ _______
246,758 383,633
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 51,800 171,812
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Dr Riaz Ahmad ( 2,917) ( 647,754) 646,546 ( 4,125)
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Dr Riaz Ahmad ( 74,720) ( 333,242) 405,045 ( 2,917)
_______ _______ _______ _______