Glass Canvas Group Limited - Filleted accounts

Registered number

10666253

Glass Canvas Group Limited

Report and Accounts

31 March 2025

Glass Canvas Group Limited
Registered number:		10666253
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		25,161			37,062
Investments	4		1,298			1,298
			26,459			38,360

Current assets
Debtors	5	124,089			121,234
Cash at bank and in hand		17,603			14,734
		141,692			135,968

Creditors: amounts falling due within one year	6	(134,539)			(138,766)

Net current assets/(liabilities)			7,153			(2,798)

Total assets less current liabilities			33,612			35,562

Creditors: amounts falling due after more than one year	7		(31,413)			(30,371)



Net assets			2,199			5,191

Capital and reserves
Called up share capital			1,292			1,292
Profit and loss account			907			3,899

Shareholders' funds			2,199			5,191

At the year end the company was owed £2,744 (2024: £nil) from A Goodeve, the company's director and shareholder.
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 G Austin
Director
Approved by the board on 15 December 2025

Glass Canvas Group 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	25% straight line
	Fixtures and fittings	25% straight line

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	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.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	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			8		11


3	Tangible fixed assets
		Fixtures and fittings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 April 2024	56,843		77,463		134,306
	Additions	-		1,286		1,286
	Disposals	-		-		-
	At 31 March 2025	56,843		78,749		135,592

	Depreciation
	At 1 April 2024	35,038		62,206		97,244
	Charge for the year	6,464		6,723		13,187
	On disposals	-		-		-
	At 31 March 2025	41,502		68,929		110,431

	Net book value
	At 31 March 2025	15,341		9,820		25,161
	At 31 March 2024	21,805		15,257		37,062


4	Investments
Investments in
subsidiary
undertakings
£
	Cost
	At 1 April 2024					1,298

	At 31 March 2025					1,298


5	Debtors			2025		2024
£					£

	Trade debtors			59,301		57,750
	Amounts owed by group undertakings and undertakings in which the company has a participating interest			53,010		48,596
	Other debtors			11,778		14,888
				124,089		121,234


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

	Bank loans and overdrafts			32,906		29,028
	Trade creditors			5,151		19,966
	Amounts owed to group undertakings and undertakings in which the company has a participating interest			9,431		13,950
	Taxation and social security costs			84,067		61,014
	Other creditors			2,984		14,808
				134,539		138,766


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

	Bank loans			31,413		30,371


8	Related party transactions


	During the year the company entered into the following transactions with relates parties:

	Glass Canvas (Sheffield) Limited:

	A company in which Mr A Goodeve, Mr W Nuttall and Mr G Austin are Directors. At the Balance Sheet date the company owed £9,431 (2024: £13,950) to Glass Canvas (Sheffield) Limited.


	Glass Canvas Productions Limited:

	A company in which Mr A Goodeve and Mr W Nuttall are Directors. At the Balance Sheet date the company was owed £53,010 (2024: £48,596) from Glass Canvas Productions Limited.



9	Other information

	Glass Canvas Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
	The Stanley Building
	7 Pancras Square
	London
	N1C 4AG