Silverfin false false 30/09/2023 01/10/2022 30/09/2023 P Dlugosz 01/02/2015 D J French 01/09/2010 D Tombs 01/09/2010 18 April 2024 The principal activity of the Company during the financial year is that of sealed glazing unit manufacture. 03950094 2023-09-30 03950094 bus:Director1 2023-09-30 03950094 bus:Director2 2023-09-30 03950094 bus:Director3 2023-09-30 03950094 2022-09-30 03950094 core:CurrentFinancialInstruments 2023-09-30 03950094 core:CurrentFinancialInstruments 2022-09-30 03950094 core:Non-currentFinancialInstruments 2023-09-30 03950094 core:Non-currentFinancialInstruments 2022-09-30 03950094 core:ShareCapital 2023-09-30 03950094 core:ShareCapital 2022-09-30 03950094 core:SharePremium 2023-09-30 03950094 core:SharePremium 2022-09-30 03950094 core:RetainedEarningsAccumulatedLosses 2023-09-30 03950094 core:RetainedEarningsAccumulatedLosses 2022-09-30 03950094 core:PlantMachinery 2022-09-30 03950094 core:Vehicles 2022-09-30 03950094 core:FurnitureFittings 2022-09-30 03950094 core:OfficeEquipment 2022-09-30 03950094 core:PlantMachinery 2023-09-30 03950094 core:Vehicles 2023-09-30 03950094 core:FurnitureFittings 2023-09-30 03950094 core:OfficeEquipment 2023-09-30 03950094 2022-10-01 2023-09-30 03950094 bus:FilletedAccounts 2022-10-01 2023-09-30 03950094 bus:SmallEntities 2022-10-01 2023-09-30 03950094 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 03950094 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 03950094 bus:Director1 2022-10-01 2023-09-30 03950094 bus:Director2 2022-10-01 2023-09-30 03950094 bus:Director3 2022-10-01 2023-09-30 03950094 core:PlantMachinery 2022-10-01 2023-09-30 03950094 core:Vehicles 2022-10-01 2023-09-30 03950094 core:FurnitureFittings 2022-10-01 2023-09-30 03950094 core:OfficeEquipment 2022-10-01 2023-09-30 03950094 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure

Company No: 03950094 (England and Wales)

GLASSLINE LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

GLASSLINE LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

GLASSLINE LIMITED

BALANCE SHEET

As at 30 September 2023
GLASSLINE LIMITED

BALANCE SHEET (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 368,659 465,459
368,659 465,459
Current assets
Stocks 4 70,308 63,777
Debtors 5 430,077 462,990
Cash at bank and in hand 396,916 692,209
897,301 1,218,976
Creditors: amounts falling due within one year 6 ( 511,150) ( 568,788)
Net current assets 386,151 650,188
Total assets less current liabilities 754,810 1,115,647
Creditors: amounts falling due after more than one year 7 ( 175,447) ( 243,998)
Net assets 579,363 871,649
Capital and reserves
Called-up share capital 1,000 1,000
Share premium account 309,100 309,100
Profit and loss account 269,263 561,549
Total shareholders' funds 579,363 871,649

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Glassline Limited (registered number: 03950094) were approved and authorised for issue by the Board of Directors on 18 April 2024. They were signed on its behalf by:

D Tombs
Director
GLASSLINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
GLASSLINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Glassline Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 27 27

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 October 2022 1,011,501 107,169 971 8,339 1,127,980
Additions 0 21,475 0 0 21,475
Disposals 0 ( 40,029) 0 0 ( 40,029)
At 30 September 2023 1,011,501 88,615 971 8,339 1,109,426
Accumulated depreciation
At 01 October 2022 616,509 38,535 959 6,518 662,521
Charge for the financial year 78,999 18,704 3 446 98,152
Disposals 0 ( 19,906) 0 0 ( 19,906)
At 30 September 2023 695,508 37,333 962 6,964 740,767
Net book value
At 30 September 2023 315,993 51,282 9 1,375 368,659
At 30 September 2022 394,992 68,634 12 1,821 465,459

4. Stocks

2023 2022
£ £
Stocks 70,308 63,777

5. Debtors

2023 2022
£ £
Trade debtors 403,251 430,527
Prepayments 2,663 8,020
Other debtors 24,163 24,443
430,077 462,990

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 245,684 369,999
Accruals 57,795 41,967
Corporation tax 0 1,879
Other taxation and social security 89,791 71,259
Obligations under finance leases and hire purchase contracts 74,089 65,215
Other creditors 43,791 18,469
511,150 568,788

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Obligations under finance leases and hire purchase contracts 175,447 243,998