Registered number
05110747
THERMAGLAZE WINDOWS & CONSERVATORIES LIMITED
Abbreviated Accounts
31 May 2013
THERMAGLAZE WINDOWS & CONSERVATORIES LIMITED
Registered number: 05110747
Abbreviated Balance Sheet
as at 31 May 2013
Notes 2013 2012
£ £
Fixed assets
Intangible assets 2 430,417 465,000
Tangible assets 3 71,722 63,008
502,139 528,008
Current assets
Stocks 39,193 35,771
Debtors 152,770 109,100
Cash at bank and in hand 33,762 92,662
225,725 237,533
Creditors: amounts falling due within one year (437,444) (430,793)
Net current liabilities (211,719) (193,260)
Total assets less current liabilities 290,420 334,748
Creditors: amounts falling due after more than one year (121,146) (157,878)
Provisions for liabilities (1,431) (2,319)
Net assets 167,843 174,551
Capital and reserves
Called up share capital 5 300 300
Profit and loss account 167,543 174,251
Shareholder's funds 167,843 174,551
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
D W Symes
Director
Approved by the board on 21 September 2013
THERMAGLAZE WINDOWS & CONSERVATORIES LIMITED
Notes to the Abbreviated Accounts
for the year ended 31 May 2013
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and equipment 25% reducing balance
Motor vehicles 25% reducing balance
Computers 33.33% on cost
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Leasing and hire purchase commitments
Assets held under hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding hire purchase obligation is treated in the balance sheet as a liability.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
2 Intangible fixed assets £
Cost
At 1 June 2012 775,000
Additions 5,000
At 31 May 2013 780,000
Amortisation
At 1 June 2012 310,000
Provided during the year 39,583
At 31 May 2013 349,583
Net book value
At 31 May 2013 430,417
At 31 May 2012 465,000
3 Tangible fixed assets £
Cost
At 1 June 2012 191,995
Additions 57,912
Disposals (56,990)
At 31 May 2013 192,917
Depreciation
At 1 June 2012 128,987
Charge for the year 22,126
On disposals (29,918)
At 31 May 2013 121,195
Net book value
At 31 May 2013 71,722
At 31 May 2012 63,008
4 Loans 2013 2012
£ £
Creditors include:
Secured bank loans 153,765 211,713
5 Share capital Nominal 2013 2013 2012
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
B Ordinary shares £1 each 200 200 200
300 300
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