REGISTERED NUMBER: 01088154 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GLASS NORTHAMPTON LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

R J Knight

A K Steel

J M Knight

C C Brown

M J Astle

REGISTERED OFFICE:

25-29 Bailiff Street

Northampton

NN1 3DX

REGISTERED NUMBER:

01088154 (England and Wales)

ACCOUNTANTS:

Shaw Gibbs Limited

Eagle House

28 Billing Road

Northampton

NN1 5AJ

FIXED ASSETS

Tangible assets

4

110,250

84,365

CURRENT ASSETS

Stocks

229,047

106,228

Debtors

5

543,577

309,941

Cash at bank

295,311

533,338

1,067,935

949,507

CREDITORS

Amounts falling due within one year

6

557,689

505,967

NET CURRENT ASSETS

510,246

443,540

TOTAL ASSETS LESS CURRENT LIABILITIES

620,496

527,905

CREDITORS

Amounts falling due after more than one year

7

(5,000

)

(15,833

)

PROVISIONS FOR LIABILITIES

(22,805

)

(19,410

)

NET ASSETS

592,691

492,662

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

587,691

487,662

SHAREHOLDERS' FUNDS

592,691

492,662

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

R J Knight - Director

A K Steel - Director

1.	STATUTORY INFORMATION

Glass Northampton Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of goods and services supplied under contract where turnover is recognised when the company obtains a right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

over the life of the lease

Plant and machinery

-

33% on reducing balance and 10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

Stocks

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

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 35 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

98,774

178,599

147,880

136,466

561,719

Additions

32,732

-

4,397

-

37,129

Disposals

-

(799

)

(500

)

-

(1,299

)

At 31 December 2024

131,506

177,800

151,777

136,466

597,549

DEPRECIATION

At 1 January 2024

98,774

143,805

112,762

122,013

477,354

Charge for year

620

3,492

3,519

3,614

11,245

Eliminated on disposal

-

(800

)

(500

)

-

(1,300

)

At 31 December 2024

99,394

146,497

115,781

125,627

487,299

NET BOOK VALUE

At 31 December 2024

32,112

31,303

35,996

10,839

110,250

At 31 December 2023

-

34,794

35,118

14,453

84,365

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

319,695

258,805

VAT

24,872

-

Prepayments and accrued income

199,010

51,136

543,577

309,941

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other loans

10,000

10,000

Trade creditors

79,151

73,324

Amounts owed to group undertakings

78,668

79,118

Tax

29,722

51,061

Social security and other taxes

22,763

27,319

VAT

-

28,055

Other creditors

53,177

51,247

Accruals and deferred income

284,208

185,843

557,689

505,967

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other loans - 2-5 years

5,000

15,833

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

109,666

107,690

Between one and five years

36,853

46,123

146,519

153,813

9.	CONTINGENT LIABILITIES

Unlimited cross-guarantees have been given to the company's bankers in respect of the bank borrowings of the company and its parent company, Glass Northampton Holdings Limited. As at 31 December 2024 total bank borrowings amounted to £Nil (2023: £Nil).

10.	ULTIMATE CONTROLLING PARTY

The company's shares are owned 100% by Glass Northampton Holdings Limited, a company with the same Registered Office as Glass Northampton Limited.