REGISTERED NUMBER: 05051641 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

JO DOWNS GLASS DESIGN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms J Downs

Mr S H Downs

SECRETARY:

Mr E R Downs

REGISTERED OFFICE:

1a Parliament Square

Parliament Street

Crediton

Devon

EX17 2AW

REGISTERED NUMBER:

05051641 (England and Wales)

ACCOUNTANTS:

Gravita Western Limited

Keble House

Southernhay Gardens

Exeter

Devon

EX1 1NT

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

89,978

97,180

89,978

97,180

CURRENT ASSETS

Stocks

413,757

424,739

Debtors

7

95,612

168,469

Cash at bank and in hand

211,028

279,258

720,397

872,466

CREDITORS

Amounts falling due within one year

8

(256,157

)

(217,510

)

NET CURRENT ASSETS

464,240

654,956

TOTAL ASSETS LESS CURRENT LIABILITIES

554,218

752,136

CREDITORS

Amounts falling due after more than one year

9

(11,321

)

(23,692

)

NET ASSETS

542,897

728,444

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

542,797

728,344

SHAREHOLDERS' FUNDS

542,897

728,444

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.

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 8 September 2025 and were signed on its behalf by:

Ms J Downs - Director

1.	COMPANY INFORMATION

Jo Downs Glass Design Limited 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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods falling within the company's ordinary activities.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

25% reducing balance / 10% straight line

Improvements to property

-

Straight line over 5 to 15 years

Plant and machinery

-

10% on cost

Fixtures, fittings and equipment

-

25% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

Cash and cash equivalents

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 38 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

Branding

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

60,000

41,195

101,195

AMORTISATION

At 1 January 2024

and 31 December 2024

60,000

41,195

101,195

NET BOOK VALUE

At 31 December 2024

-

-

-

At 31 December 2023

-

-

-

6.	TANGIBLE FIXED ASSETS

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 January 2024

43,013

31,073

317,332

Additions

-

-

14,055

Transfer to ownership

-

-

-

Reclassification/transfer

-

-

-

At 31 December 2024

43,013

31,073

331,387

DEPRECIATION

At 1 January 2024

43,013

3,124

271,973

Charge for year

-

2,219

13,041

Transfer to ownership

-

-

-

Reclassification/transfer

-

-

-

At 31 December 2024

43,013

5,343

285,014

NET BOOK VALUE

At 31 December 2024

-

25,730

46,373

At 31 December 2023

-

27,949

45,359

Fixtures,

fittings

and

Motor

equipment

vehicles

Totals

£

£

£

COST

At 1 January 2024

88,381

60,976

540,775

Additions

995

-

15,050

Transfer to ownership

-

(27,081

)

(27,081

)

Reclassification/transfer

-

27,081

27,081

At 31 December 2024

89,376

60,976

555,825

DEPRECIATION

At 1 January 2024

81,300

44,185

443,595

Charge for year

2,794

4,198

22,252

Transfer to ownership

-

(13,693

)

(13,693

)

Reclassification/transfer

-

13,693

13,693

At 31 December 2024

84,094

48,383

465,847

NET BOOK VALUE

At 31 December 2024

5,282

12,593

89,978

At 31 December 2023

7,081

16,791

97,180

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

-

27,081

27,081

Additions

11,541

-

11,541

Transfer to ownership

-

(27,081

)

(27,081

)

At 31 December 2024

11,541

-

11,541

DEPRECIATION

At 1 January 2024

-

13,693

13,693

Charge for year

866

-

866

Transfer to ownership

-

(13,693

)

(13,693

)

At 31 December 2024

866

-

866

NET BOOK VALUE

At 31 December 2024

10,675

-

10,675

At 31 December 2023

-

13,388

13,388

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors and accrued income

1,136

26,788

Other debtors

2,804

3,123

Directors' current accounts

-

29,986

Tax

-

24,072

Prepayments

91,672

84,500

95,612

168,469

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,435

10,903

Hire purchase contracts (see note 10)

2,258

1,750

Trade creditors

49,087

34,627

Social security and other taxes

18,618

21,377

Company pension contributions

3,915

4,099

VAT

77,296

58,857

Other creditors

69,594

73,920

Directors' current accounts

2,123

-

Accrued expenses

22,831

11,977

256,157

217,510

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

3,731

10,440

Bank loans - 2-5 years

-

3,544

Hire purchase contracts (see note 10)

7,590

9,708

11,321

23,692

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

2,258

1,750

Between one and five years

7,590

9,708

9,848

11,458

Non-cancellable

operating leases

2024

2023

£

£

Within one year

130,713

178,985

Between one and five years

317,187

394,775

In more than five years

358,000

426,000

805,900

999,760

11.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

9,848

11,458

Hire purchase liabilities are secured over the asset to which the liability relates.

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Ms J Downs

Balance outstanding at start of year

29,985

182,607

Amounts advanced

1,428

-

Amounts repaid

(33,536

)

(152,622

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2,123

)

29,985

Interest has been charged at the H M Revenue and Customs official rate.