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Company Registration No. 08818950 (England and Wales)
Specialist Glass Repairs Ltd Unaudited accounts for the year ended 31 December 2024
Specialist Glass Repairs Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Specialist Glass Repairs Ltd Company Information for the year ended 31 December 2024
Directors
Stephen Wells Phillip Wells
Company Number
08818950 (England and Wales)
Registered Office
63 Amberley Gardens Epsom KT19 0NQ England
Accountants
BPS Accountancy Boscobel Penshurst Road Speldhurst Kent TN3 0PQ
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Specialist Glass Repairs Ltd Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
5,750 
6,750 
Tangible assets
5
52,075 
27,455 
57,825 
34,205 
Current assets
Debtors
6
30,302 
23,993 
Cash at bank and in hand
102 
375 
30,404 
24,368 
Creditors: amounts falling due within one year
7
(137,000)
(126,721)
Net current liabilities
(106,596)
(102,353)
Total assets less current liabilities
(48,771)
(68,148)
Creditors: amounts falling due after more than one year
8
(30,913)
(8,217)
Provisions for liabilities
Deferred tax
(9,894)
(5,216)
Net liabilities
(89,578)
(81,581)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(89,678)
(81,681)
Shareholders' funds
(89,578)
(81,581)
For the year ending 31 December 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2025 and were signed on its behalf by
Phillip Wells Director Company Registration No. 08818950
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Specialist Glass Repairs Ltd Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Specialist Glass Repairs Ltd is a private company, limited by shares, registered in England and Wales, registration number 08818950. The registered office is 63 Amberley Gardens, Epsom, KT19 0NQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
Intangible fixed assets
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Franchise - 10 years
Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss . Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Motor vehicles
20% on cost
Fixtures & fittings
20% on cost
Computer equipment
20% on cost
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.
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Specialist Glass Repairs Ltd Notes to the Accounts for the year ended 31 December 2024
Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.
Pension
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contribution 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 the statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the statement of income and retained earnings in the year that the company becomes aware of the obligation and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet.
Going concern
The accounts are prepared on the basis that the directors of the company have agreed they will not withdraw funds until the company has the available profits and cash flow and continue to support the company for the foreseeable future. At the balance sheet date, liabilities exceed assets by £89,578 (2022: £81,581). However the financial statements have been prepared on a going concern basis as the company has the continuing support from its directors, P Wells and S Wells. The directors are therefore satisfied that the financial statements have been correctly prepared on the going concern basis.
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Specialist Glass Repairs Ltd Notes to the Accounts for the year ended 31 December 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2024
20,717 
At 31 December 2024
20,717 
Amortisation
At 1 January 2024
13,967 
Charge for the year
1,000 
At 31 December 2024
14,967 
Net book value
At 31 December 2024
5,750 
At 31 December 2023
6,750 
5
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2024
55,545 
9,540 
1,585 
66,670 
Additions
37,750 
- 
- 
37,750 
Disposals
(1,000)
- 
- 
(1,000)
At 31 December 2024
92,295 
9,540 
1,585 
103,420 
Depreciation
At 1 January 2024
28,174 
9,540 
1,501 
39,215 
Charge for the year
12,282 
- 
31 
12,313 
On disposals
(183)
- 
- 
(183)
At 31 December 2024
40,273 
9,540 
1,532 
51,345 
Net book value
At 31 December 2024
52,022 
- 
53 
52,075 
At 31 December 2023
27,371 
- 
84 
27,455 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
29,701 
23,993 
Other debtors
601 
- 
30,302 
23,993 
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Specialist Glass Repairs Ltd Notes to the Accounts for the year ended 31 December 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
24,166 
16,989 
VAT
13,809 
11,740 
Obligations under finance leases and hire purchase contracts
10,400 
- 
Trade creditors
3,794 
9,147 
Taxes and social security
- 
2,469 
Other creditors
84,831 
86,376 
137,000 
126,721 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
2,417 
8,217 
Obligations under finance leases and hire purchase contracts
28,496 
- 
30,913 
8,217 
9
Pension commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable by the company to the fund and amounted to £3,755 (2023: £2,677). Contributions totalling £675 (2023: £460) were payable to fund at the balance sheet date and are included in other creditors.
10
Transactions with related parties
Specialist Glass Repairs UK Ltd is an associated company of Specialist Glass Repairs Ltd as both companies are controlled by the same directors and shareholders. As at the balance sheet date, other creditors include an amount due to Specialist Glass Repairs UK Ltd of £6,966 (2023: £4,257). As at the balance sheet date, other creditors include an amount of £75,590 (2023: £80,060) payable to P Wells, a director of the company.
11
Average number of employees
During the year the average number of employees was 5 (2023: 5).
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