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REGISTERED NUMBER:
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TRENT VALLEY ARCHITECTURAL GLAZING LTD |
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FINANCIAL STATEMENTS |
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FOR THE PERIOD 28 APRIL 2017 TO 31 MARCH 2018 |
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REGISTERED NUMBER:
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TRENT VALLEY ARCHITECTURAL GLAZING LTD |
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FINANCIAL STATEMENTS |
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FOR THE PERIOD 28 APRIL 2017 TO 31 MARCH 2018 |
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TRENT VALLEY ARCHITECTURAL GLAZING LTD (REGISTERED NUMBER: 10746774) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 28 APRIL 2017 TO 31 MARCH 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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TRENT VALLEY ARCHITECTURAL GLAZING LTD |
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COMPANY INFORMATION |
FOR THE PERIOD 28 APRIL 2017 TO 31 MARCH 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
and Statutory Auditors |
7 St John Street |
Mansfield |
Nottinghamshire |
NG18 1QH |
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BANKERS: |
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38 Mosley Street |
Manchester |
M2 3AZ |
TRENT VALLEY ARCHITECTURAL GLAZING LTD (REGISTERED NUMBER: 10746774) |
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BALANCE SHEET |
31 MARCH 2018 |
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Notes | £ |
CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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TRENT VALLEY ARCHITECTURAL GLAZING LTD (REGISTERED NUMBER: 10746774) |
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BALANCE SHEET - continued |
31 MARCH 2018 |
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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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TRENT VALLEY ARCHITECTURAL GLAZING LTD (REGISTERED NUMBER: 10746774) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 28 APRIL 2017 TO 31 MARCH 2018 |
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1. | STATUTORY INFORMATION |
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Trent Valley Architectural Glazing Ltd is a
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The company's registered number and registered office address can be found on the Company Information |
page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements have been prepared on a going concern basis which assumes the company will have |
sufficient funds to continue to pay its debts as and when they fall due and thus continue to trade. After making |
appropriate enquiries, including confirmation from the parent company of the availability of continued funding, |
and after reviewing financial forecasts and budgets, the directors have a reasonable expectation that the |
Company has adequate resources to continue in operational existence for the foreseeable future. In making their |
assessment, the directors have considered a period of at least 12 months from the date of signing these |
financial statements. |
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At the balance sheet date, the company had net liabilities of £655,022. The company is reliant on the continued |
support of the group, and it has expressed its intention to support the company. On that basis the financial |
statements have been prepared on a going concern basis. |
TRENT VALLEY ARCHITECTURAL GLAZING LTD (REGISTERED NUMBER: 10746774) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 28 APRIL 2017 TO 31 MARCH 2018 |
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3. | ACCOUNTING POLICIES - continued |
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Turnover |
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and |
the turnover can be reliably measured. Turnover is measured at the fair value of the consideration received or |
receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also |
be met before turnover is recognised |
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Sales of goods |
Turnover from the sale of goods is recognised when all of the following considerations are satisfied; |
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- the Company has transferred the significant risks and rewards of ownership to the buyer; |
- the Company retains neither continuing managerial involvement to the degree usually associated with |
ownership nor effective control over the goods sold; |
- the amount of turnover can be measured reliably |
- it is probable that the company will receive the consideration due under the transaction; and |
- the costs incurred or to be incurred in respect of the transactions can be reliably measured |
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Rendering of services |
Turnover from a contract to provide services is recognised in the period in which the services are provided in |
accordance with the stage of completion of the contract when al of the following conditions are satisfied: |
- the amount of turnover can be measured reliably |
- it is probable that the Company will receive the consideration due under the contract; |
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
- the costs incurred and the costs to complete the contract can be measured reliably |
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Stocks |
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to |
complete and sell. Cost is based on the purchase price on a first in, first out basis. Work in progress and finished |
goods include labour and attributable overheads. |
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At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is |
reduced to its selling price less costs to compete and sell. The impairment loss is recognised immediately in |
profit and loss. |
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Financial instruments |
Financial instruments and equity instruments are classified according to the substance of the contractual |
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets |
of the entity after deducting all of its financial liabilities. |
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Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar |
debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented |
as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the |
income statement. Finance costs are calculated so as to produce a constant rate of return on the outstanding |
liability. |
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Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability |
then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are |
debited direct to equity. |
TRENT VALLEY ARCHITECTURAL GLAZING LTD (REGISTERED NUMBER: 10746774) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 28 APRIL 2017 TO 31 MARCH 2018 |
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3. | ACCOUNTING POLICIES - continued |
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Taxation |
Taxation for the period 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 period 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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Leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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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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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
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Amounts recoverable on contract |
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Prepayments and accrued income |
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TRENT VALLEY ARCHITECTURAL GLAZING LTD (REGISTERED NUMBER: 10746774) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 28 APRIL 2017 TO 31 MARCH 2018 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
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Amounts owed to group undertakings |
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Social security and other taxes |
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Other creditors |
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Accruals and deferred income |
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The group loan is secured by way of fixed and floating charge on the assets of the company. |
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7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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8. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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The company paid wages and salaries (including pension contributions) to key management persons to the sum |
of £143,168 |
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9. | ULTIMATE CONTROLLING PARTY |
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The company is a wholly owned subsidiary of Glass Umbrella Limited, a company incorporated in England and |
Wale, registration number 10617905. |
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The ultimate controlling party is Mr M K White, controlling shareholder and director of Glass Umbrella Limited |