Glassjacks Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 07576849 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

GLASSJACKS LTD

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

A Lewis

REGISTERED OFFICE:

29 Field View

Knightwood Chandler's Ford

Eastleigh

Hampshire

SO53 4LJ

REGISTERED NUMBER:

07576849 (England and Wales)

ACCOUNTANTS:

Magenta Accounts Limited

2a Poles Copse

Poles Lane

Otterbourne

Winchester

Hampshire

SO21 2DZ

The following reproduces the text of the report prepared for the director 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 Director 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 Glassjacks Ltd for the year ended 31 March 2018 which comprise the Statement of Income and

Retained Earnings, Balance Sheet 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Glassjacks Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Glassjacks Ltd and state those matters that we have agreed to state to the director of Glassjacks Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Glassjacks Ltd 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 Glassjacks Ltd. You consider that Glassjacks Ltd 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 Glassjacks Ltd. 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.

Magenta Accounts Limited

2a Poles Copse

Poles Lane

Otterbourne

Winchester

Hampshire

SO21 2DZ

29 June 2018

FIXED ASSETS

Tangible assets

4

2,519

2,831

CURRENT ASSETS

Stocks

46,260

31,600

Debtors

5

20,972

8,414

Cash at bank

44,116

53,407

111,348

93,421

CREDITORS

Amounts falling due within one year

6

24,553

31,872

NET CURRENT ASSETS

86,795

61,549

TOTAL ASSETS LESS CURRENT LIABILITIES

89,314

64,380

CREDITORS

Amounts falling due after more than one year

7

48,684

47,081

NET ASSETS

40,630

17,299

CAPITAL AND RESERVES

Called up share capital

9

10

10

Retained earnings

10

40,620

17,289

SHAREHOLDERS' FUNDS

40,630

17,299

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 29 June 2018 and were signed by:

A Lewis - Director

1.	STATUTORY INFORMATION

Glassjacks Ltd 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

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

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

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

and 31 March 2018

5,294

DEPRECIATION

At 1 April 2017

2,463

Charge for year

312

At 31 March 2018

2,775

NET BOOK VALUE

At 31 March 2018

2,519

At 31 March 2017

2,831

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

10,462

2,272

PAYE Debtor

66

257

Prepayments and accrued income

10,444

5,885

20,972

8,414

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Tax

11,410

9,583

VAT

5,235

3,780

Other creditors

-

10,000

Net pay control

210

571

Accruals and deferred income

7,698

7,938

24,553

31,872

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Directors' loan accounts

48,684

47,081

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.18

31.3.17

£

£

Within one year

7,200

6,000

Between one and five years

13,200

17,000

20,400

23,000

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

10

Ordinary

1

10

10

10.

RESERVES

Retained

earnings

£

At 1 April 2017

17,289

Profit for the year

48,331

Dividends

(25,000

)

At 31 March 2018

40,620

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £12,500 (2017 - £18,500) were paid to the director .

The director, Mr A Lewis, provided a loan to the company for working capital. Interest accrues at a rate of 2.5%

on the balance. Amount due as at the balance sheet date £48,684 (2017 - £47,081).

Mrs H Lewis, wife of the director, was voted dividends totalling £12,500 during the year. Amount due as at the

balance sheet date nil (2017 - £10,000).