Silverfin false false 30/09/2024 01/10/2023 30/09/2024 P Dlugosz 31/08/2024 01/02/2015 D French 11/04/2024 01/09/2010 D Tombs 01/09/2010 04 April 2025 The principal activity of the Company during the financial year is that of sealed glazing unit manufacture. 03950094 2024-09-30 03950094 bus:Director1 2024-09-30 03950094 bus:Director2 2024-09-30 03950094 bus:Director3 2024-09-30 03950094 2023-09-30 03950094 core:CurrentFinancialInstruments 2024-09-30 03950094 core:CurrentFinancialInstruments 2023-09-30 03950094 core:Non-currentFinancialInstruments 2024-09-30 03950094 core:Non-currentFinancialInstruments 2023-09-30 03950094 core:ShareCapital 2024-09-30 03950094 core:ShareCapital 2023-09-30 03950094 core:SharePremium 2024-09-30 03950094 core:SharePremium 2023-09-30 03950094 core:RetainedEarningsAccumulatedLosses 2024-09-30 03950094 core:RetainedEarningsAccumulatedLosses 2023-09-30 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 core:PlantMachinery 2024-09-30 03950094 core:Vehicles 2024-09-30 03950094 core:FurnitureFittings 2024-09-30 03950094 core:OfficeEquipment 2024-09-30 03950094 bus:OrdinaryShareClass1 2024-09-30 03950094 2023-10-01 2024-09-30 03950094 bus:FilletedAccounts 2023-10-01 2024-09-30 03950094 bus:SmallEntities 2023-10-01 2024-09-30 03950094 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 03950094 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 03950094 bus:Director1 2023-10-01 2024-09-30 03950094 bus:Director2 2023-10-01 2024-09-30 03950094 bus:Director3 2023-10-01 2024-09-30 03950094 core:PlantMachinery 2023-10-01 2024-09-30 03950094 core:Vehicles 2023-10-01 2024-09-30 03950094 core:FurnitureFittings 2023-10-01 2024-09-30 03950094 core:OfficeEquipment 2023-10-01 2024-09-30 03950094 2022-10-01 2023-09-30 03950094 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 03950094 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03950094 (England and Wales)

GLASSLINE LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

GLASSLINE LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

GLASSLINE LIMITED

BALANCE SHEET

As at 30 September 2024
GLASSLINE LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 285,945 368,659
285,945 368,659
Current assets
Stocks 4 47,226 70,308
Debtors 5 409,137 430,077
Cash at bank and in hand 360,919 396,916
817,282 897,301
Creditors: amounts falling due within one year 6 ( 451,437) ( 511,150)
Net current assets 365,845 386,151
Total assets less current liabilities 651,790 754,810
Creditors: amounts falling due after more than one year 7 ( 106,552) ( 175,447)
Net assets 545,238 579,363
Capital and reserves
Called-up share capital 8 1,000 1,000
Share premium account 309,100 309,100
Profit and loss account 235,138 269,263
Total shareholders' funds 545,238 579,363

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Glassline Limited (registered number: 03950094) were approved and authorised for issue by the Director on 04 April 2025. They were signed on its behalf by:

D Tombs
Director
GLASSLINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
GLASSLINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
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 51 -59 Nuffield Road, Nuffield Industrial Estate, Poole, BH17 0RJ, 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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 34 27

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 October 2023 1,011,501 88,615 971 8,339 1,109,426
Additions 0 11,750 0 515 12,265
Disposals 0 ( 41,990) 0 0 ( 41,990)
At 30 September 2024 1,011,501 58,375 971 8,854 1,079,701
Accumulated depreciation
At 01 October 2023 695,508 37,333 962 6,964 740,767
Charge for the financial year 63,198 12,599 2 389 76,188
Disposals 0 ( 23,199) 0 0 ( 23,199)
At 30 September 2024 758,706 26,733 964 7,353 793,756
Net book value
At 30 September 2024 252,795 31,642 7 1,501 285,945
At 30 September 2023 315,993 51,282 9 1,375 368,659

4. Stocks

2024 2023
£ £
Stocks 47,226 70,308

5. Debtors

2024 2023
£ £
Trade debtors 369,174 403,251
Prepayments 23,978 2,663
Other debtors 15,985 24,163
409,137 430,077

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 228,184 245,684
Accruals 37,139 57,795
Other taxation and social security 86,699 89,791
Obligations under finance leases and hire purchase contracts 60,090 74,089
Other creditors 39,325 43,791
451,437 511,150

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

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 106,552 175,447

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000