| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| FOR |
| EUROGLAZE LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| FOR |
| EUROGLAZE LIMITED |
| EUROGLAZE LIMITED (REGISTERED NUMBER: 06014038) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| EUROGLAZE LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 36 - 40 Doncaster Road |
| Barnsley |
| South Yorkshire |
| S70 1TL |
| EUROGLAZE LIMITED (REGISTERED NUMBER: 06014038) |
| BALANCE SHEET |
| 31ST DECEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Revaluation reserve | 13 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| EUROGLAZE LIMITED (REGISTERED NUMBER: 06014038) |
| BALANCE SHEET - continued |
| 31ST DECEMBER 2024 |
| 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 were approved by the Board of Directors and authorised for issue on |
| EUROGLAZE LIMITED (REGISTERED NUMBER: 06014038) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Euroglaze Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of the business in 2014, has been fully amortised. |
| 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. |
| The amortisation of development costs will commence on completion of the project. |
| Tangible fixed assets |
| Long leasehold | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account and Retained Earnings, 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. |
| EUROGLAZE LIMITED (REGISTERED NUMBER: 06014038) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 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 balance sheet 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 year 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. |
| 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 are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Development |
| Goodwill | costs | Totals |
| £ | £ | £ |
| COST |
| At 1st January 2024 |
| and 31st December 2024 |
| AMORTISATION |
| At 1st January 2024 |
| Amortisation for year |
| At 31st December 2024 |
| NET BOOK VALUE |
| At 31st December 2024 |
| At 31st December 2023 |
| EUROGLAZE LIMITED (REGISTERED NUMBER: 06014038) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Long | Plant and | and |
| leasehold | machinery | fittings |
| £ | £ | £ |
| COST OR VALUATION |
| At 1st January 2024 |
| Additions |
| Disposals |
| At 31st December 2024 |
| DEPRECIATION |
| At 1st January 2024 |
| Charge for year |
| Eliminated on disposal |
| At 31st December 2024 |
| NET BOOK VALUE |
| At 31st December 2024 |
| At 31st December 2023 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1st January 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31st December 2024 |
| DEPRECIATION |
| At 1st January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31st December 2024 |
| NET BOOK VALUE |
| At 31st December 2024 |
| At 31st December 2023 |
| EUROGLAZE LIMITED (REGISTERED NUMBER: 06014038) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Cost or valuation at 31st December 2024 is represented by: |
| Fixtures |
| Long | Plant and | and |
| leasehold | machinery | fittings |
| £ | £ | £ |
| Valuation in 2014 | 86,529 | 64,312 | - |
| Valuation in 2021 | 138,821 | - | - |
| Cost | 526,449 | 300,794 | 91,924 |
| 751,799 | 365,106 | 91,924 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| Valuation in 2014 | - | - | 150,841 |
| Valuation in 2021 | - | - | 138,821 |
| Cost | 69,756 | 109,923 | 1,098,846 |
| 69,756 | 109,923 | 1,388,508 |
| If leasehold land and buildings had not been revalued they would have been included at the following historical cost: |
| 2024 | 2023 |
| £ | £ |
| Cost | 524,650 | 524,650 |
| Value of land in freehold land and buildings | 132,000 | 132,000 |
| Leasehold land and buildings were valued on an open market basis basis on 6th October 2021 by PPH Commercial . |
| 6. | STOCKS |
| 2024 | 2023 |
| £ | £ |
| Stocks |
| Work-in-progress |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Prepayments |
| EUROGLAZE LIMITED (REGISTERED NUMBER: 06014038) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts and finance leases |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 111,334 | 141,369 |
| Other creditors |
| Accrued expenses |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Hire purchase contracts and finance leases |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 38,852 | 64,303 |
| Finance leases | - | 2,306 |
| 38,852 | 66,609 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Hire purchase contracts and finance leases | 84,384 | 128,308 |
| Barclays Bank plc held a legal charge over the company property, and a debenture on the banks standard form in respect of the loan to the company. Additionally, the company's director, Mr M Nettleton provided a personal guarantee to the sum of £50,000. |
| EUROGLAZE LIMITED (REGISTERED NUMBER: 06014038) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2024 |
| 11. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax | 95,878 | 101,864 |
| Deferred |
| tax |
| £ |
| Balance at 1st January 2024 |
| Provided during year | ( |
) |
| Balance at 31st December 2024 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary A | £1 | 96 | 96 |
| Ordinary B | £1 | 1 | 1 |
| Ordinary C | £1 | 1 | 1 |
| Ordinary D | £1 | 1 | 1 |
| Ordinary E | £1 | 1 | 1 |
| 100 | 100 |
| 13. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1st January 2024 |
| Deferred tax adjustment | 2,616 |
| At 31st December 2024 |
| 14. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The company's director, Mr M E Nettleton, provided a personal guarantee to the sum of £50,000 in favour of Barclays Bank plc in respect of a property loan advanced to the company. |