Glass Planet Limited - Filleted accounts

Registered number

10891177

Glass Planet Limited

Filleted Accounts

31 March 2025

Glass Planet Limited
Registered number:		10891177
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		26,289			33,947

Current assets
Stocks		63,000			81,000
Debtors	4	140,523			133,798
		203,523			214,798

Creditors: amounts falling due within one year	5	(161,506)			(141,637)

Net current assets			42,017			73,161

Total assets less current liabilities			68,306			107,108

Creditors: amounts falling due after more than one year	6		(26,105)			(64,075)

Provisions for liabilities			(4,995)			(6,450)


Net assets			37,206			36,583

Capital and reserves
Called up share capital			1			1
Profit and loss account			37,205			36,582

Shareholder's funds			37,206			36,583

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr M D Evans
Director
Approved by the board on 29 August 2025

Glass Planet Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			20% Reducing balance
	Motor vehicles			25% Reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					7		7


3	Tangible fixed assets
				Plant and machinery etc		Motor vehicles		Total
£					£		£
	Cost
	At 1 April 2024			40,797		34,895		75,692
	At 31 March 2025			40,797		34,895		75,692

	Depreciation
	At 1 April 2024			24,199		17,546		41,745
	Charge for the year			3,320		4,338		7,658
	At 31 March 2025			27,519		21,884		49,403

	Net book value
	At 31 March 2025			13,278		13,011		26,289
	At 31 March 2024			16,598		17,349		33,947


4	Debtors					2025		2024
£							£

	Trade debtors					136,523		129,798
	Other debtors					4,000		4,000
						140,523		133,798


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					52,961		42,407
	Obligations under finance lease and hire purchase contracts					6,395		5,859
	Trade creditors					61,942		56,513
	Taxation and social security costs					18,083		13,974
	Other creditors					22,125		22,884
						161,506		141,637


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					19,172		50,747
	Obligations under finance lease and hire purchase contracts					6,933		13,328
						26,105		64,075


7	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Mr M D Evans
	Directors current account	(20,354)		1,852		(1,380)		(19,882)

		(20,354)		1,852		(1,380)		(19,882)


8	Controlling party

	Mr M D Evans by virtue of his shareholding and as sole director has ultimate control of the company.


9	Other information

	Glass Planet Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Meadowbank
	Cwm Gelli
	Blackwood
	Gwent
	NP12 1BX