Indeglas Limited - Accounts to registrar (filleted) - small 18.2
Indeglas Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
INDEGLAS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28TH FEBRUARY 2019 |
INDEGLAS LIMITED (REGISTERED NUMBER: SC212827) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28TH FEBRUARY 2019 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
INDEGLAS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 28TH FEBRUARY 2019 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
4 Royal Crescent |
Glasgow |
G3 7SL |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
INDEGLAS 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 Balance Sheet. 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 Indeglas Limited for the year ended 28th February 2019 which comprise the Income |
Statement, Balance Sheet, 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
This report is made solely to the Board of Directors of Indeglas 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 Indeglas Limited and state those matters that we have agreed to state to the Board of Directors of Indeglas Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Indeglas 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 Indeglas Limited. You consider that Indeglas 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 Indeglas 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. |
Chartered Accountants |
4 Royal Crescent |
Glasgow |
G3 7SL |
INDEGLAS LIMITED (REGISTERED NUMBER: SC212827) |
BALANCE SHEET |
28TH FEBRUARY 2019 |
28.2.19 | 28.2.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
INDEGLAS LIMITED (REGISTERED NUMBER: SC212827) |
BALANCE SHEET - continued |
28TH FEBRUARY 2019 |
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 on its behalf by: |
INDEGLAS LIMITED (REGISTERED NUMBER: SC212827) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28TH FEBRUARY 2019 |
1. | STATUTORY INFORMATION |
Indeglas Limited is a |
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 |
Turnover |
The turnover shown in the profit and loss account represents the sales value of work carried out during the |
year on long term and other contracts, exclusive of Value Added Tax. |
Goodwill |
Goodwill arising on the acquisition of businesses, representing any excess of the fair value of the |
consideration given over the fair value of the identifiable assets and liabilities acquired, is capitalised and |
written off on a straight line basis over its useful economic life of 10 years. |
Tangible fixed assets |
Improvements to property | - 3 to 10 years straight line |
Plant and machinery | - 10 to 33% straight line |
Fixtures and fittings | - 10 to 20 % straight line |
Motor vehicles | - 25 - 65% straight line |
Computer equipment | - 33% straight line |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete |
and slow moving items. |
Cost is purchase price on a first-in first-out basis. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual |
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is |
any contract that evidences a residual interest in the assets of the company after deducting all of its |
liabilities. |
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. |
INDEGLAS LIMITED (REGISTERED NUMBER: SC212827) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2019 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
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. |
Long term contracts |
The company classifies as long term those contracts where the contract activity extends over more than |
one accounting period. |
The amount recognised as turnover represents the value of work carried out during the year. Where the |
outcome of a contract can be assessed with reasonable certainty attributable profit is recognised in |
proportion to the amount of turnover recognised in the financial statements. Full provision is made for |
any foreseeable losses and these are included in accruals under creditors due within one year. |
Where the amount recognised as turnover exceeds the payments on account received and receivable in |
respect of that contract, the balance is included in debtors as amounts recoverable on contracts. Retentions |
and payments on account receivable are included in trade debtors. Payments on account received in excess |
of the value of work done are included in creditors. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st March 2018 |
and 28th February 2019 |
AMORTISATION |
At 1st March 2018 |
and 28th February 2019 |
NET BOOK VALUE |
At 28th February 2019 |
At 28th February 2018 |
INDEGLAS LIMITED (REGISTERED NUMBER: SC212827) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2019 |
5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1st March 2018 |
Additions |
At 28th February 2019 |
DEPRECIATION |
At 1st March 2018 |
Charge for year |
At 28th February 2019 |
NET BOOK VALUE |
At 28th February 2019 |
At 28th February 2018 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1st March 2018 |
Additions |
At 28th February 2019 |
DEPRECIATION |
At 1st March 2018 |
Charge for year |
At 28th February 2019 |
NET BOOK VALUE |
At 28th February 2019 |
At 28th February 2018 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.19 | 28.2.18 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts recoverable on contracts |
Other debtors |
INDEGLAS LIMITED (REGISTERED NUMBER: SC212827) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2019 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.19 | 28.2.18 |
£ | £ |
Payments on account |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
28.2.19 | 28.2.18 |
£ | £ |
Other creditors |
9. | LOANS |
An analysis of the maturity of loans is given below: |
28.2.19 | 28.2.18 |
£ | £ |
Amounts falling due within one year or on demand: |
Other loans |
Amounts falling due between one and two years: |
Other loans - 1-2 years |
Amounts falling due between two and five years: |
Other loans - 2-5 years |
10. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
28.2.19 | 28.2.18 |
£ | £ |
Within one year |
Between one and five years |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 28.2.19 | 28.2.18 |
value: | £ | £ |
Ordinary | £1 | 3 | 3 |
12. | ULTIMATE CONTROLLING PARTY |
The company was under the control of virtue of her shareholding in the ultimate parent company, Kewcalian Limited. |