Glass Assist Uk Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07451346 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Glass Assist Uk Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

K Flowers

C Flowers

SECRETARY:

REGISTERED OFFICE:

Whitfield House St. Johns Road

Meadowfield Industrial Es

Durham

DH7 8XL

REGISTERED NUMBER:

07451346 (England and Wales)

ACCOUNTANTS:

Switch Accountants

Switch House

City West Business Park

St John's Road

Meadowfield

Durham

DH7 8ER

FIXED ASSETS

Tangible assets

4

199,882

245,822

Investment property

5

780,000

979,882

1,025,822

CURRENT ASSETS

Stocks

2,000

Debtors

6

762,580

817,782

Cash at bank

336,258

137,260

1,100,838

957,042

CREDITORS

Amounts falling due within one year

7

791,275

817,739

NET CURRENT ASSETS

309,563

139,303

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,289,445

1,165,125

CREDITORS

Amounts falling due after more than one
year

8

(419,011

)

(271,802

)

PROVISIONS FOR LIABILITIES

(37,978

)

(112,944

)

NET ASSETS

832,456

780,379

CAPITAL AND RESERVES

Called up share capital

200

Retained earnings

832,256

780,179

832,456

780,379

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 29 September 2025 and were signed on its behalf by:

K Flowers - Director

1.	STATUTORY INFORMATION

Glass Assist Uk 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year 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 balance sheet date.

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

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.

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 24 (2023 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

504,095

Additions

140,557

Disposals

(58,917

)

At 31 December 2024

585,735

DEPRECIATION

At 1 January 2024

258,273

Charge for year

167,355

Eliminated on disposal

(39,775

)

At 31 December 2024

385,853

NET BOOK VALUE

At 31 December 2024

199,882

At 31 December 2023

245,822

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

294,735

Additions

80,258

Disposals

(28,250

)

At 31 December 2024

346,743

DEPRECIATION

At 1 January 2024

163,380

Charge for year

124,673

Eliminated on disposal

(26,358

)

At 31 December 2024

261,695

NET BOOK VALUE

At 31 December 2024

85,048

At 31 December 2023

131,355

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

780,000

NET BOOK VALUE

At 31 December 2024

780,000

At 31 December 2023

780,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

629,194

692,267

Amounts owed by participating interests

120,000

Other debtors

13,386

5,515

762,580

817,782

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

15,686

Finance leases

33,128

27,416

Trade creditors

430,601

425,611

Taxation and social security

43,030

71,748

Other creditors

268,830

277,278

791,275

817,739

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

Bank loans

58,294

73,576

Finance leases

159,521

142,314

Other creditors

201,196

55,912

419,011

271,802