REGISTERED NUMBER: 06060206 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Smartglass Limited

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

R P Green

V C Green

SECRETARY:

R P Green

REGISTERED OFFICE:

Unit 8 Harelaw Industrial Estate

North Road

Stanley

County Durham

DH9 8UX

REGISTERED NUMBER:

06060206 (England and Wales)

ACCOUNTANTS:

Ford Campbell Freedman Limited

Chartered accountants

2nd Floor

33 Park Place

Leeds

LS1 2RY

BANKERS:

Starling Bank

7th Floor

Norfolk House

31 St James Square

London

SW1Y 4JR

The following reproduces the text of the report prepared for the directors 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors 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 Smartglass Limited for the year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position 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 Board of Directors of Smartglass Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Smartglass Limited and state those matters that we have agreed to state to the Board of Directors of Smartglass Limited, as a body, 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 Smartglass Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Smartglass 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 Smartglass Limited. You consider that Smartglass 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 Smartglass 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.

Ford Campbell Freedman Limited

Chartered accountants

2nd Floor

33 Park Place

Leeds

LS1 2RY

9 December 2025

FIXED ASSETS

Investments

5

12,739

33

Investment property

6

175,302

-

188,041

33

CURRENT ASSETS

Debtors

7

1,490,104

1,249,344

Cash at bank

1,953

5,137

1,492,057

1,254,481

CREDITORS

Amounts falling due within one year

8

613,139

615,932

NET CURRENT ASSETS

878,918

638,549

TOTAL ASSETS LESS CURRENT LIABILITIES

1,066,959

638,582

CREDITORS

Amounts falling due after more than one year

9

274,470

432,926

NET ASSETS

792,489

205,656

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

791,489

204,656

792,489

205,656

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 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 December 2025 and were signed on its behalf by:

R P Green - Director

1.	STATUTORY INFORMATION

Smartglass 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The comparative period covers 15 months, and is therefore not directly comparable.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in associates

Investments in associate undertakings are recognised at cost.

Other investments are held at fair value.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

4.	EMPLOYEES AND DIRECTORS

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

5.	FIXED ASSET INVESTMENTS

2025

2024

£

£

Participating interests

33

33

Other investments not loans

12,706

-

12,739

33

Additional information is as follows:

Interest in

associate

£

COST

At 1 April 2024

and 31 March 2025

33

NET BOOK VALUE

At 31 March 2025

33

At 31 March 2024

33

Investments (neither listed nor unlisted) were as follows:

2025

2024

£

£

Antiques and collectables

12,706

-

Antiques and collectables to the value of £12,706 have not been depreciated.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

175,302

At 31 March 2025

175,302

NET BOOK VALUE

At 31 March 2025

175,302

The directors believe the cost fairly represents the fair value of the property at the reporting date.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

1,667

Other debtors

1,490,104

1,247,677

1,490,104

1,249,344

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

9,535

9,990

Taxation and social security

302,959

108,512

Other creditors

300,645

497,430

613,139

615,932

At the end of the period the company had secured creditors falling due within one year of £200,000 (2024: £200,000).

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

6,262

15,797

Other creditors

268,208

417,129

274,470

432,926

At the end of the period the company had secured creditors falling due after more than one year of £268,208 (2024: £417,152).

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2025 and the period ended 31 March 2024:

2025

2024

£

£

R P Green

Balance outstanding at start of year

952,712

1,007,003

Amounts advanced

182,691

113,709

Amounts repaid

(1,716

)

(168,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,133,687

952,712

Loans with directors have interest charged at 2.25% and are repayable on demand.

11.	RELATED PARTY DISCLOSURES

Services provided to company under common control

During the period the company sold services amounting to £845,000 (2024: £380,000) to a company under common control. At the period end the balance owed to that company was as follows:

2025

2024

£

£

Amount due from related party at the balance sheet date

100,643

257,430

Related party transaction

During the year £3,750 rental income was received from a relative of the directors.

12.	ULTIMATE CONTROLLING PARTY

In the opinion of the directors there is no single controlling party, as defined by FRS 102.