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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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30 JUNE 2019 |
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HARLOW GLASS LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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30 JUNE 2019 |
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FOR |
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HARLOW GLASS LIMITED |
HARLOW GLASS LIMITED (REGISTERED NUMBER: 03186123) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2019 |
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Company information | 1 |
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Balance sheet | 2 |
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Notes to the financial statements | 3 |
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HARLOW GLASS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2019 |
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Directors: |
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Registered office: |
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Registered number: |
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Accountants: |
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31 Guardian Close |
Hornchurch |
Essex |
RM11 1FT |
HARLOW GLASS LIMITED (REGISTERED NUMBER: 03186123) |
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BALANCE SHEET |
30 JUNE 2019 |
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2019 | 2018 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Current assets |
Stocks |
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Debtors | 5 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 6 | ( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities | ( |
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Net assets |
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Capital and reserves |
Called up share capital |
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Capital redemption reserve |
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Retained earnings |
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Shareholders' funds |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006
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(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. |
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In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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HARLOW GLASS LIMITED (REGISTERED NUMBER: 03186123) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2019 |
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1. | Statutory information |
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Harlow Glass Limited is a
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number and registered office address can be found on the Company Information page. |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of |
Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and |
the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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Turnover |
Turnover comprises revenue recognised by the Company in respect of glass services supplied during the year, exclusive of |
Value Added Tax and trade discounts. |
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The company manufactures glass and offers service such as re-glazing and architectural and structural installations for the |
architectural and "fil-out" market. |
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Tangible fixed assets |
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write |
off the cost or valuation of fixed asset, less their estimated residual value, over their expected useful lives on the following |
bases: |
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Plant & Machinery - 25% reducing balance |
Motor vehicles - 25% reducing balance |
Fixtures & Fittings - 25% reducing balance |
Improvement to premises - 20% straight line |
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Stocks |
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving |
stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
HARLOW GLASS LIMITED (REGISTERED NUMBER: 03186123) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
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2. | Accounting policies - continued |
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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. |
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Turnover |
100% of the Company's turnover (2017: 100%) is attributable to the United Kingdom. |
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The turnover in the year is wholly attributable to the interior glazing and partitioning contracting trade. |
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3. | Employees and directors |
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The average number of employees during the year was
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4. | Tangible fixed assets |
Improvements | Fixtures |
to | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2018 |
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Additions |
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At 30 June 2019 |
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DEPRECIATION |
At 1 July 2018 |
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Charge for year |
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At 30 June 2019 |
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NET BOOK VALUE |
At 30 June 2019 |
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At 30 June 2018 |
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5. | Debtors |
2019 | 2018 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Other debtors |
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Directors' current accounts | 108,010 | 111,632 |
Prepayments and accrued income |
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Amounts falling due after more than one year: |
Other debtors | 359,713 | 359,713 |
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Aggregate amounts |
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Included within other debtors is an amount due from Sustain Design and Development Limited amounting to £333,334 |
(2018: £333,334). |
HARLOW GLASS LIMITED (REGISTERED NUMBER: 03186123) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2019 |
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6. | Creditors: amounts falling due within one year |
2019 | 2018 |
£ | £ |
Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 39,975 | 59,323 |
Accrued expenses |
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7. | Directors' advances, credits and guarantees |
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Sustain Design & Developments Limited (previously D&C London Limited) |
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The inter Company debtor balance due from Sustain Design & Developments Limited at the year end was £333,334 (2018: |
£333,334). This is included within other debtors due after more than one year. |
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During the year C J Morris was a director and shareholder of Sustain Design and Developments Limited. |
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8. | Ultimate controlling party |
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On 30 June 2017 Mr D Morris gifted to his son Carl Morris 14 shares and to his son Thomas Morris 10 shares . Mr D |
Morris remains the majority shareholder and controlling party. |
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9. | D morris |
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D Morris is a director of the company. |
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The balance owed from D Morris at the year end, included within debtors, was £108,010 (2018: £111,632). |
During the year D Morris was charged £3,719 (2018: £2,494) interest on the loan. |