| REGISTERED NUMBER: |
| Financial Statements For The Period 1 March 2024 to 31 August 2024 |
| for |
| Indeglas Limited |
| REGISTERED NUMBER: |
| Financial Statements For The Period 1 March 2024 to 31 August 2024 |
| for |
| Indeglas Limited |
| Indeglas Limited (Registered number: SC212827) |
| Contents of the Financial Statements |
| For The Period 1 March 2024 to 31 August 2024 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Indeglas Limited |
| Company Information |
| For The Period 1 March 2024 to 31 August 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Regent Court |
| 70 West Regent Street |
| Glasgow |
| G2 2QZ |
| Indeglas Limited (Registered number: SC212827) |
| Statement of Financial Position |
| 31 August 2024 |
| 2024 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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. |
| Indeglas Limited (Registered number: SC212827) |
| Statement of Financial Position - continued |
| 31 August 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Indeglas Limited (Registered number: SC212827) |
| Notes to the Financial Statements |
| For The Period 1 March 2024 to 31 August 2024 |
| 1. | STATUTORY INFORMATION |
| Indeglas Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| The turnover shown in the profit and loss account represents the sales value of work carried out during the year on long term and other contracts, exclusive of Value Added Tax. |
| Goodwill |
| Goodwill arising on the acquisition of businesses, representing any excess of the fair value of the consideration given over the fair value of the identifiable assets and liabilities acquired, is capitalised and written orr on a straight line basis over its useful economic life of 10 years. |
| 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. |
| Tangible fixed assets |
| Improvements to property | - |
| Fixed plant and equipment | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, alter making due allowance for obsolete and slow moving items. |
| Cost is purchase price on a first-in first-out basis. |
| Financial instruments |
| Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss. |
| Taxation |
| Taxation for the period 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 statement of financial position date. |
| Indeglas Limited (Registered number: SC212827) |
| Notes to the Financial Statements - continued |
| For The Period 1 March 2024 to 31 August 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 statement of financial position 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 period 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. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme arc charged lo profit or loss in the period to which they relate. |
| Long term contracts |
| The company classifies as long term those contracts where the contract activity extends over more than one accounting period. |
| The amount recognised as turnover represents the value of work carried out during the year. Where the outcome of a contract can be assessed with reasonable certainty attributable profit is recognised in proportion lo the amount of turnover recognised in the financial statements. Full provision is made for any foreseeable losses and these arc included in accruals under creditors due within one year. |
| Where the amount recognised as turnover exceeds the payments on account received and receivable in respect of that contract, the balance is included in debtors as amounts recoverable on contracts. Retentions and payments on account receivable arc included in trade debtors. Payments on account received in excess of the value of work done arc included in creditors. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 March 2024 |
| and 31 August 2024 |
| AMORTISATION |
| At 1 March 2024 |
| and 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 29 February 2024 |
| Indeglas Limited (Registered number: SC212827) |
| Notes to the Financial Statements - continued |
| For The Period 1 March 2024 to 31 August 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixed | Fixtures |
| to | plant and | and |
| property | equipment | fittings |
| £ | £ | £ |
| COST |
| At 1 March 2024 |
| Additions |
| At 31 August 2024 |
| DEPRECIATION |
| At 1 March 2024 |
| Charge for period |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 29 February 2024 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 March 2024 |
| Additions |
| At 31 August 2024 |
| DEPRECIATION |
| At 1 March 2024 |
| Charge for period |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 29 February 2024 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors | 66,984 | 69,928 |
| Directors' current accounts | 6,000 | 6,000 |
| Tax |
| VAT |
| Prepayments |
| Indeglas Limited (Registered number: SC212827) |
| Notes to the Financial Statements - continued |
| For The Period 1 March 2024 to 31 August 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2024 |
| £ | £ |
| Other loans |
| Payments on account |
| Trade creditors |
| Amounts owed to group undertakings | 37,932 | 37,327 |
| Social security and other taxes |
| VAT | 323 | - |
| Other creditors |
| Accrued expenses |
| Deferred government grants |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2024 |
| £ | £ |
| Other loans - 1-2 years | 21,648 | 44,045 |
| Other loans - 2-5 years | 70,090 | 81,434 |
| Deferred government grants |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2024 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the period ended 31 August 2024 and the year ended 29 February 2024: |
| 2024 | 2024 |
| £ | £ |
| Balance outstanding at start of period | ( |
) | ( |
) |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of period | ( |
) | ( |
) |
| Indeglas Limited (Registered number: SC212827) |
| Notes to the Financial Statements - continued |
| For The Period 1 March 2024 to 31 August 2024 |
| 11. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Mrs J B MacIntyre. |
| The company was under the control of Mrs J B MacIntyre throughout the current and previous year by virtue of her shareholding in the ultimate parent company, Kewcalian Limited. |