| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 April 2025 |
| for |
| Newark Glass Group Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 April 2025 |
| for |
| Newark Glass Group Limited |
| Newark Glass Group Limited (Registered number: 03511084) |
| Contents of the Financial Statements |
| for the Year Ended 30 April 2025 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 4 |
| Newark Glass Group Limited |
| Company Information |
| for the Year Ended 30 April 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants & Business Advisers |
| Chancery Court |
| 34 West Street |
| Retford |
| Nottinghamshire |
| DN22 6ES |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Newark Glass Group Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Newark Glass Group Limited for the year ended 30 April 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Newark Glass Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Newark Glass Group Limited and state those matters that we have agreed to state to the Board of Directors of Newark Glass Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Newark Glass Group Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Newark Glass Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Newark Glass Group Limited. You consider that Newark Glass Group Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Newark Glass Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants & Business Advisers |
| Chancery Court |
| 34 West Street |
| Retford |
| Nottinghamshire |
| DN22 6ES |
| Newark Glass Group Limited (Registered number: 03511084) |
| Balance Sheet |
| 30 April 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 9 | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Share premium | 12 |
| Retained earnings - |
| undistributable reserves | 12 |
| Retained earnings | 12 |
| SHAREHOLDERS' FUNDS |
| 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 |
| Newark Glass Group Limited (Registered number: 03511084) |
| Notes to the Financial Statements |
| for the Year Ended 30 April 2025 |
| 1. | STATUTORY INFORMATION |
| Newark Glass Group Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts have been prepared on a going concern basis which assumes that the director's will continue to support the company. The director's have indicated an intention to continue to support the company for the foreseeable future. However if this support was not to continue then the going concern basis may not be appropriate because at 30 April 2025 the company's net liabilities exceeded its current assets by £818,633 (2024: £476,305). |
| Should the company not be able to continue trading, adjustments would need to be made to the value of the assets on the Balance Sheet. Provision would need to be made for any further liabilities which may arise and fixed assets would need to be reclassified as current assets. |
| 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 |
| Plant and machinery | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| 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. |
| Financial instruments |
| The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. |
| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date. |
| 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. |
| Newark Glass Group Limited (Registered number: 03511084) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2025 |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2024 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| £ |
| COST |
| At 1 May 2024 |
| and 30 April 2025 |
| DEPRECIATION |
| At 1 May 2024 |
| Charge for year |
| At 30 April 2025 |
| NET BOOK VALUE |
| At 30 April 2025 |
| At 30 April 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 May 2024 |
| and 30 April 2025 |
| NET BOOK VALUE |
| At 30 April 2025 |
| At 30 April 2024 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 May 2024 |
| Revaluations | 610,000 |
| At 30 April 2025 |
| NET BOOK VALUE |
| At 30 April 2025 |
| At 30 April 2024 |
| Newark Glass Group Limited (Registered number: 03511084) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2025 |
| 6. | INVESTMENT PROPERTY - continued |
| Cost or valuation of investment properties at 30 April 2025 is represented by: |
| £ |
| Valuation - 30 April 2016 | 241,742 |
| Valuation - 30 April 2025 | 610,000 |
| Cost | 1,128,258 |
| 1,980,000 |
| The investment properties were valued by the directors on an open market value basis on 30 April 2025. The property known as Oak Tree Court, Brunel Drive, Newark was sold for £1,600,000 on the 27 August 2025. |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr | - | 278,683 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank overdraft |
| Bank loans |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | £1 | 1,000 | 1,000 |
| Newark Glass Group Limited (Registered number: 03511084) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2025 |
| 12. | RESERVES |
| Retained |
| earnings |
| Retained | Share | - undistributable |
| earnings | premium | reserves | Totals |
| £ | £ | £ | £ |
| At 1 May 2024 | 634,109 |
| Profit for the year |
| Revaluation in the year | ( |
) |
| Deferred tax | 133,118 | - | (133,118 | ) | - |
| At 30 April 2025 | 1,129,211 |
| 13. | RELATED PARTY DISCLOSURES |
| Newark Glass Company Limited |
| The company owns 100% of the share capital in Newark Glass Company Limited. During the year transactions took place at market value. At the year end the company owed £375,305 (2024: £361,714) to the subsidiary company. This balance is included in creditors due within one year. |