Propak Architectural Glazing Limited - Accounts to registrar (filleted) - small 22.3

Propak Architectural Glazing Limited - Accounts to registrar (filleted) - small 22.3

PROPAK ARCHITECTURAL GLAZING LIMITED - Company Information

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REGISTERED NUMBER: 07448854 (England and Wales)















PROPAK ARCHITECTURAL GLAZING LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2022





Wags LLP t/a Wagstaffs
Richmond House
Walkern Road
Stevenage
Hertfordshire
SG1 3QP








PROPAK ARCHITECTURAL GLAZING LIMITED (REGISTERED NUMBER: 07448854)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2022










Page

Company information 1

Accountants' report 2 to 3

Abridged statement of financial position 4 to 5

Notes to the financial statements 6 to 8


PROPAK ARCHITECTURAL GLAZING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2022







Directors: L Bennett
M Bennett
R Trevett





Registered office: Unit 1
Gunnels Wood Industrial Estate
Gunnels Wood Road
Stevenage
Hertfordshire
SG1 2BH





Registered number: 07448854 (England and Wales)





Accountants: Wags LLP t/a Wagstaffs
Richmond House
Walkern Road
Stevenage
Hertfordshire
SG1 3QP
Page 1
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PROPAK ARCHITECTURAL GLAZING 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 Statement of financial position. 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 Propak Architectural Glazing Limited for the year ended 31st August 2022 which comprise the Income statement, Abridged Statement of financial position, 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 Propak Architectural Glazing 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 Propak Architectural Glazing Limited and state those matters that we have agreed to state to the Board of Directors of Propak Architectural Glazing 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 Propak Architectural Glazing Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Propak Architectural Glazing 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 Propak Architectural Glazing Limited. You consider that Propak Architectural Glazing 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 Propak Architectural Glazing 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.






Wags LLP t/a Wagstaffs
Richmond House
Walkern Road
Stevenage
Hertfordshire
SG1 3QP


This page does not form part of the statutory financial statements

Page 2
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PROPAK ARCHITECTURAL GLAZING LIMITED



6th February 2023

This page does not form part of the statutory financial statements

Page 3
PROPAK ARCHITECTURAL GLAZING LIMITED (REGISTERED NUMBER: 07448854)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31ST AUGUST 2022

2022 2021
Notes £    £   
FIXED ASSETS
Property, plant and equipment 5 82,756 103,520

CURRENT ASSETS
Inventories 312,822 458,463
Debtors 2,444,153 776,147
Cash at bank 126,664 293,970
2,883,639 1,528,580
CREDITORS
Amounts falling due within one year (1,785,953 ) (1,495,430 )
NET CURRENT ASSETS 1,097,686 33,150
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,180,442
136,670

PROVISIONS FOR LIABILITIES (15,228 ) (19,141 )
NET ASSETS 1,165,214 117,529

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 1,165,114 117,429
SHAREHOLDERS' FUNDS 1,165,214 117,529

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2022 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 notes form part of these financial statements

Page 4
PROPAK ARCHITECTURAL GLAZING LIMITED (REGISTERED NUMBER: 07448854)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31ST AUGUST 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of financial position for the year ended 31st August 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 6th February 2023 and were signed on its behalf by:





L Bennett - Director


The notes form part of these financial statements

Page 5
PROPAK ARCHITECTURAL GLAZING LIMITED (REGISTERED NUMBER: 07448854)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2022


1. STATUTORY INFORMATION

Propak Architectural Glazing 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements are prepared on a going concern basis and under the historical cost convention.

Significant judgements and estimates
No significant judgements or estimates have had to be made by the directors in preparing these financial statements.

Revenue
Revenue represents the total invoice value, excluding value added tax, trade discounts and all other direct taxes made during the year.

Revenue recognition
Revenue is recognised when goods have been delivered and services supplied to customers such that risks and rewards of ownership have transferred to them.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 33% on cost
Computer equipment - 25% on cost

Inventories
Inventories 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.


Page 6
PROPAK ARCHITECTURAL GLAZING LIMITED (REGISTERED NUMBER: 07448854)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2022


3. ACCOUNTING POLICIES - continued
Tax
Tax 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 tax 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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 the income statement 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 the income statement in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2021 - 30 ) .

Page 7
PROPAK ARCHITECTURAL GLAZING LIMITED (REGISTERED NUMBER: 07448854)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2022


5. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
Cost
At 1st September 2021 223,006
Additions 7,760
At 31st August 2022 230,766
Depreciation
At 1st September 2021 119,486
Charge for year 28,524
At 31st August 2022 148,010
Net book value
At 31st August 2022 82,756
At 31st August 2021 103,520

6. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
75 Ordinary A £1 75 75
25 Ordinary B £1 25 25
100 100

Page 8