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REGISTERED NUMBER: 07042392 (England and Wales)







Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Poesia Glass Studio Ltd

Poesia Glass Studio Ltd (Registered number: 07042392)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Poesia Glass Studio Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTOR: P G Guarino





SECRETARY:





REGISTERED OFFICE: Corner House
28 Huddersfield Road
Newhey
Rochdale
Lancashire
OL16 3QF





REGISTERED NUMBER: 07042392 (England and Wales)





ACCOUNTANTS: Brian Gumbley Accountancy Services Ltd
Corner House
28 Huddersfield Road
Newhey
Rochdale
Lancashire
OL16 3QF

Poesia Glass Studio Ltd (Registered number: 07042392)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 244,717 285,063

CURRENT ASSETS
Stocks 68,211 115,217
Debtors 5 1,571,344 1,015,392
Cash at bank 164,446 -
1,804,001 1,130,609
CREDITORS
Amounts falling due within one year 6 1,327,009 648,992
NET CURRENT ASSETS 476,992 481,617
TOTAL ASSETS LESS CURRENT
LIABILITIES

721,709

766,680

CREDITORS
Amounts falling due after more than
one year

7

379

3,567
NET ASSETS 721,330 763,113

Poesia Glass Studio Ltd (Registered number: 07042392)

Balance Sheet - continued
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 80,000 80,000
Retained earnings 641,230 683,013
721,330 763,113

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 25 April 2025 and were signed by:





P G Guarino - Director


Poesia Glass Studio Ltd (Registered number: 07042392)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Poesia Glass Studio 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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 - 15% on reducing balance
Computer equipment - 33% on cost

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

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.


Poesia Glass Studio Ltd (Registered number: 07042392)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 October 2023 394,551 - 394,551
Additions - 3,618 3,618
At 30 September 2024 394,551 3,618 398,169
DEPRECIATION
At 1 October 2023 109,488 - 109,488
Charge for year 42,759 1,205 43,964
At 30 September 2024 152,247 1,205 153,452
NET BOOK VALUE
At 30 September 2024 242,304 2,413 244,717
At 30 September 2023 285,063 - 285,063

Poesia Glass Studio Ltd (Registered number: 07042392)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
30.9.24 30.9.23
£    £   
Trade debtors 949,627 595,748
Amounts owed by associates 503,898 396,761
Other debtors 117,819 22,883
1,571,344 1,015,392

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts - 25
Other loans 81,000 90,000
Hire purchase contracts 3,120 3,120
Trade creditors 676,107 162,623
Amounts owed to associates 119,667 36,312
Tax 79,550 40,978
Other creditors 20,963 17,415
Directors' current accounts 1,927 3,955
Accrued expenses 344,675 294,564
1,327,009 648,992

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts 379 3,567