IRIS Accounts Production v25.1.0.734 11712321 director 1.4.24 31.3.25 31.3.25 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh117123212024-03-31117123212025-03-31117123212024-04-012025-03-31117123212023-03-31117123212023-04-012024-03-31117123212024-03-3111712321ns15:EnglandWales2024-04-012025-03-3111712321ns14:PoundSterling2024-04-012025-03-3111712321ns10:Director12024-04-012025-03-3111712321ns10:PrivateLimitedCompanyLtd2024-04-012025-03-3111712321ns10:SmallEntities2024-04-012025-03-3111712321ns10:AuditExemptWithAccountantsReport2024-04-012025-03-3111712321ns10:SmallCompaniesRegimeForDirectorsReport2024-04-012025-03-3111712321ns10:SmallCompaniesRegimeForAccounts2024-04-012025-03-3111712321ns10:FullAccounts2024-04-012025-03-3111712321ns10:OrdinaryShareClass12024-04-012025-03-3111712321ns10:RegisteredOffice2024-04-012025-03-3111712321ns5:CurrentFinancialInstruments2025-03-3111712321ns5:CurrentFinancialInstruments2024-03-3111712321ns5:ShareCapital2025-03-3111712321ns5:ShareCapital2024-03-3111712321ns5:RetainedEarningsAccumulatedLosses2025-03-3111712321ns5:RetainedEarningsAccumulatedLosses2024-03-3111712321ns5:PlantMachinery2024-04-012025-03-3111712321ns5:FurnitureFittings2024-04-012025-03-3111712321ns5:MotorVehicles2024-04-012025-03-3111712321ns5:ComputerEquipment2024-04-012025-03-3111712321ns5:PlantMachinery2024-03-3111712321ns5:FurnitureFittings2024-03-3111712321ns5:MotorVehicles2024-03-3111712321ns5:ComputerEquipment2024-03-3111712321ns5:PlantMachinery2025-03-3111712321ns5:FurnitureFittings2025-03-3111712321ns5:MotorVehicles2025-03-3111712321ns5:ComputerEquipment2025-03-3111712321ns5:PlantMachinery2024-03-3111712321ns5:FurnitureFittings2024-03-3111712321ns5:MotorVehicles2024-03-3111712321ns5:ComputerEquipment2024-03-3111712321ns5:WithinOneYearns5:CurrentFinancialInstruments2025-03-3111712321ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3111712321ns5:DeferredTaxation2024-03-3111712321ns5:DeferredTaxation2024-04-012025-03-3111712321ns5:DeferredTaxation2025-03-3111712321ns10:OrdinaryShareClass12025-03-3111712321ns5:RetainedEarningsAccumulatedLosses2024-03-3111712321ns5:RetainedEarningsAccumulatedLosses2024-04-012025-03-31
REGISTERED NUMBER: 11712321 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Glassline Gfc Ltd

Glassline Gfc Ltd (Registered number: 11712321)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 4


Glassline Gfc Ltd

Company Information
for the Year Ended 31 March 2025







DIRECTOR: Mr Atanas Yuriev Petkov





REGISTERED OFFICE: 12 Park Lane
Tilehurst
Reading
Berkshire
RG31 5DL





REGISTERED NUMBER: 11712321 (England and Wales)





ACCOUNTANTS: Avalon Accounting Limited
12 Park Lane
Tilehurst
Reading
Berkshire
RG31 5DL

Glassline Gfc Ltd

Report of the Accountants to the Director of
Glassline Gfc Ltd

The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2025 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Avalon Accounting Limited
12 Park Lane
Tilehurst
Reading
Berkshire
RG31 5DL


Date: .............................................

Glassline Gfc Ltd (Registered number: 11712321)

Balance Sheet
31 March 2025

2025 2024
Notes £    £   
FIXED ASSETS
Tangible assets 4 13,904 16,628

CURRENT ASSETS
Debtors 5 1,523,147 28,826
Cash at bank 683,171 1,117,614
2,206,318 1,146,440
CREDITORS
Amounts falling due within one year 6 (383,532 ) (134,201 )
NET CURRENT ASSETS 1,822,786 1,012,239
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,836,690

1,028,867

CAPITAL AND RESERVES
Called up share capital 8 12 12
Retained earnings 9 1,836,678 1,028,855
SHAREHOLDERS' FUNDS 1,836,690 1,028,867

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 14 May 2025 and were signed by:





Mr Atanas Yuriev Petkov - Director


Glassline Gfc Ltd (Registered number: 11712321)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

Glassline Gfc 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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 3 ) .

Glassline Gfc Ltd (Registered number: 11712321)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2024 2,247 1,669 22,342 4,082 30,340
Additions - - - 2,130 2,130
Disposals (543 ) - - - (543 )
At 31 March 2025 1,704 1,669 22,342 6,212 31,927
DEPRECIATION
At 1 April 2024 1,345 1,141 9,113 2,113 13,712
Charge for year 170 132 3,307 1,025 4,634
Eliminated on disposal (323 ) - - - (323 )
At 31 March 2025 1,192 1,273 12,420 3,138 18,023
NET BOOK VALUE
At 31 March 2025 512 396 9,922 3,074 13,904
At 31 March 2024 902 528 13,229 1,969 16,628

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 4,776 12,958
Inter Company Loan 1,501,000 -
Deferred tax asset 3,476 3,159
Prepayments 13,895 12,709
1,523,147 28,826

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors - 4,280
Corporation tax 336,077 121,137
Social security and other tax 12,305 2,650
VAT 31,844 3,702
Credit card 80 49
Directors' current accounts 2,633 1,262
Accruals 593 1,121
383,532 134,201

7. DEFERRED TAX
£   
Balance at 1 April 2024 (3,159 )
Provided during year (317 )
Balance at 31 March 2025 (3,476 )

Glassline Gfc Ltd (Registered number: 11712321)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
12 Ordinary £1 12 12

9. RESERVES
Retained
earnings
£   

At 1 April 2024 1,028,855
Profit for the year 1,005,823
Dividends (198,000 )
At 31 March 2025 1,836,678

10. RELATED PARTY DISCLOSURES

During the year, company owed amount of -£1,501,000 to IPT Property Ltd, in which Mr. Atanas Yuriev Petkov is also a director.
Opening Balance : NIL
Transactions during the year :- £1,501,000
Closing balance :- £1,501,000

During the year, dividend of £66,000 (PY - £72,000) paid to Mr. Atanas Yuriev Petkov, £66,000 (PY -72,000) paid to Mr. Atanas Taterski and £66,000 (PY - £72,000) paid to Mr. Martin Ivanov. Mr. Atanas Yuriev Petkov is also a director of the company.