REGISTERED NUMBER: 02584174 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Compass Glass Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTOR:

M P Haines

REGISTERED OFFICE:

1-2 Charterhouse Mews

London

EC1M 6BB

REGISTERED NUMBER:

02584174 (England and Wales)

ACCOUNTANTS:

ansteybond

1-2 Charterhouse Mews

London

EC1M 6BB

FIXED ASSETS

Intangible assets

4

3,183

14,593

Tangible assets

5

81,563

43,008

84,746

57,601

CURRENT ASSETS

Stocks

218,085

175,207

Debtors

6

490,862

646,422

Cash in hand

7

7

708,954

821,636

CREDITORS

Amounts falling due within one year

7

(382,737

)

(557,659

)

NET CURRENT ASSETS

326,217

263,977

TOTAL ASSETS LESS CURRENT LIABILITIES

410,963

321,578

CREDITORS

Amounts falling due after more than one year

8

(119,202

)

(82,295

)

NET ASSETS

291,761

239,283

CAPITAL AND RESERVES

Called up share capital

60,000

60,000

Retained earnings

231,761

179,283

SHAREHOLDERS' FUNDS

291,761

239,283

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 27 October 2025 and were signed by:

M P Haines - Director

1.	STATUTORY INFORMATION

Compass Glass 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.

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.

The financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover

Turnover represents amounts receivable for goods sold and services provided, excluding value added tax and including retentions.

Intangible assets

The intangible assets relate to the development of the Sunvista glazing system. The amounts capitalised represent identifiable costs of developing this system. Amortisation is charged over ten years, being the estimated useful life of the asset. Amortisation began upon the commercial launch of the system.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% reducing balance

Fixtures and fittings

25% reducing balance

Commercial and motor vehicles

25% reducing balance

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contract and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

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 the profit and loss account in the period to which they relate. The assets of the scheme are held separately from those of the company in an independently administered fund.

Long term contracts

Amounts recoverable on contracts, which are included in debtors, are stated at the net sales value of work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

Revenue recognition

Revenues are recognised when the service is rendered, outstanding revenues are reflected on the balance sheet as debtors.

Cash and cash equivalents

Cash and Cash Equivalents are included in the balance sheet at cost. Cash and Cash Equivalents are comprised of cash within the bank, cash in hand and short term deposits with a maturity of three months or less.

Trade and other debtors

Trade and Other Debtors are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and Other Creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which cases they are stated at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 October 2023

325,715

Additions

3,537

At 30 September 2024

329,252

AMORTISATION

At 1 October 2023

311,122

Charge for year

14,947

At 30 September 2024

326,069

NET BOOK VALUE

At 30 September 2024

3,183

At 30 September 2023

14,593

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2023

289,373

Additions

63,614

Disposals

(14,750

)

At 30 September 2024

338,237

DEPRECIATION

At 1 October 2023

246,365

Charge for year

10,309

At 30 September 2024

256,674

NET BOOK VALUE

At 30 September 2024

81,563

At 30 September 2023

43,008

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Trade debtors

2,842

45,357

Amounts recoverable on contract

440,930

565,182

Other debtors

47,090

35,883

490,862

646,422

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Bank loans and overdrafts

153,325

101,091

Hire purchase contracts

14,228

1,079

Trade creditors

129,226

120,246

Taxation and social security

74,657

283,975

Other creditors

11,301

51,268

382,737

557,659

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.24

30.9.23

£

£

Bank loans

72,749

82,295

Hire purchase contracts

46,453

-

119,202

82,295

9.	RELATED PARTY DISCLOSURES

At the balance sheet date, included within other debtors is the amount of £12,029 (2023: -£32,958) due to Mr M Haines, the director of the company.

10.	ULTIMATE CONTROLLING PARTY

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Compass Glass Limited for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Compass Glass Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Compass Glass Limited and state those matters that we have agreed to state to the director of Compass Glass Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Compass Glass Limited and its director for our work or for this report.

It is your duty to ensure that Compass Glass Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Compass Glass Limited. You consider that Compass Glass Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Compass Glass Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

ansteybond

1-2 Charterhouse Mews

London

EC1M 6BB

27 October 2025