P.T.F. Glass Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 06492890 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2023

for

P.T.F. Glass Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

48,803

44,910

48,803

44,910

CURRENT ASSETS

Stocks

6

4,150

3,850

Debtors

7

209,472

213,879

Cash at bank

73,383

84,994

287,005

302,723

CREDITORS

Amounts falling due within one year

8

126,991

143,441

NET CURRENT ASSETS

160,014

159,282

TOTAL ASSETS LESS CURRENT LIABILITIES

208,817

204,192

CREDITORS

Amounts falling due after more than one year

9

(12,333

)

(16,000

)

PROVISIONS FOR LIABILITIES

(9,273

)

(8,533

)

NET ASSETS

187,211

179,659

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

187,111

179,559

SHAREHOLDERS' FUNDS

187,211

179,659

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 13 February 2023 and were signed on its behalf by:

P T French - Director

1.	STATUTORY INFORMATION

P.T.F. Glass Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

06492890

Registered office:

Unit 12

West Leeds Industrial Park

541 Stanningley Road

Leeds

West Yorkshire

LS13 4EN

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

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 represents net invoiced sales of services excluding value added tax. Revenue is recognised at the point at which the invoice for services is issued.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Stocks

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write down or loss occurs. The amount of any reversal of any write down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2022

and 31 January 2023

40,000

AMORTISATION

At 1 February 2022

and 31 January 2023

40,000

NET BOOK VALUE

At 31 January 2023

-

At 31 January 2022

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 February 2022

45,908

2,863

24,114

72,885

Additions

12,845

-

-

12,845

At 31 January 2023

58,753

2,863

24,114

85,730

DEPRECIATION

At 1 February 2022

14,096

2,345

11,534

27,975

Charge for year

5,732

76

3,144

8,952

At 31 January 2023

19,828

2,421

14,678

36,927

NET BOOK VALUE

At 31 January 2023

38,925

442

9,436

48,803

At 31 January 2022

31,812

518

12,580

44,910

6.

STOCKS

31.1.23

31.1.22

£

£

Stocks

4,150

3,850

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Trade debtors

202,125

206,666

Prepayments

7,347

7,213

209,472

213,879

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Bank loans and overdrafts

4,000

4,000

Trade creditors

58,420

51,679

Tax

31,791

30,422

Social security and other taxes

7,507

7,267

VAT

20,349

40,168

Directors' current accounts

1,695

847

Accrued expenses

3,229

9,058

126,991

143,441

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.23

31.1.22

£

£

Bank loans - 1-2 years

4,000

4,000

Bank loans - 2-5 years

8,333

12,000

12,333

16,000

10.	RELATED PARTY DISCLOSURES

Amount due to related party as at 31st January 2023 was £1,695 (2022 - £847)