REGISTERED NUMBER: SC291198 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Intaglio Glass & Design Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTOR:

G Duncan

SECRETARY:

Mrs G J Duncan

REGISTERED OFFICE:

29 Brandon Street

Hamilton

South Lanarkshire

ML3 6DA

REGISTERED NUMBER:

SC291198 (Scotland)

ACCOUNTANTS:

Sharles Ltd

Chartered Accountants

29 Brandon Street

Hamilton

ML3 6DA

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

54,336

66,351

54,336

66,351

CURRENT ASSETS

Stocks

7

2,500

2,500

Debtors

8

63,052

54,626

Cash at bank and in hand

54,390

56,400

119,942

113,526

CREDITORS

Amounts falling due within one year

9

92,949

78,008

NET CURRENT ASSETS

26,993

35,518

TOTAL ASSETS LESS CURRENT LIABILITIES

81,329

101,869

CREDITORS

Amounts falling due after more than one year

10

(15,421

)

(28,320

)

PROVISIONS FOR LIABILITIES

(9,224

)

(8,588

)

NET ASSETS

56,684

64,961

CAPITAL AND RESERVES

Called up share capital

13

10,000

10,000

Retained earnings

46,684

54,961

SHAREHOLDERS' FUNDS

56,684

64,961

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 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 16 December 2025 and were signed by:

G Duncan - Director

1.	STATUTORY INFORMATION

Intaglio Glass & Design Limited is a private company, limited by shares , registered in Scotland. 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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is derived from services and products supplied by the company.

Turnover is measured at the fair value of services and products supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to the income statement as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amounts of stocks recognised as an expense in the period in which the reversal occurs.

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 taxation

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.

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 profit or loss in the period to which they relate.

Government grants

Grants which are deemed to be revenue in nature are credited to the profit and loss account as they become receivable. Grants of a capital nature are reflected as deferred income in the balance sheet and released to the profit and loss account over the estimated useful life of the assets to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 8 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

30,000

AMORTISATION

At 1 April 2024

and 31 March 2025

30,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

and 31 March 2025

248,170

24,560

55,508

18,508

346,746

DEPRECIATION

At 1 April 2024

208,508

18,071

35,828

17,988

280,395

Charge for year

5,949

973

4,920

173

12,015

At 31 March 2025

214,457

19,044

40,748

18,161

292,410

NET BOOK VALUE

At 31 March 2025

33,713

5,516

14,760

347

54,336

At 31 March 2024

39,662

6,489

19,680

520

66,351

7.

STOCKS

2025

2024

£

£

Stocks

2,500

2,500

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

57,790

50,886

Other debtors

2,530

2,530

Directors' current accounts

2,616

-

Prepayments and accrued income

116

1,210

63,052

54,626

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 11)

12,184

10,757

Trade creditors

36,100

34,339

Tax

19,268

9,388

Social security and other taxes

3,066

3,703

VAT

16,740

13,236

Directors' current accounts

-

720

Accrued expenses

4,087

4,096

Deferred government grants

1,504

1,769

92,949

78,008

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 11)

6,901

18,296

Deferred government grants

8,520

10,024

15,421

28,320

11.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank loans

12,184

10,757

Amounts falling due between one and two years:

Bank loans - 1-2 years

6,901

12,218

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

6,078

12.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

19,085

29,053

The bank loan is secured by a bond and floating charge over the company's assets, and a guarantee from the director, Mr G Duncan, for £120,750.

The pension fund loan is secured over all of the company's assets.

The bank loan is supported by a 100% guarantee from the UK Government.

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

10,000

Ordinary

£1

10,000

10,000

14.	RELATED PARTY DISCLOSURES

During the year the company paid rent of £19,800 (2024: £19,800) to Revoil Design Ltd. A company under common control.

There is also a loan account between the two companies.

The balance owed by Revoil Design Ltd at the year end was £1,530. (2024: £1,530).

There is also a loan account between Cool Coatings Ltd. A company under common control.

The balance owed by Cool Coatings Ltd at the year end was £1,000. (2024: £1,000)

The company operates a loan account with the director, G Duncan.

During the year, the company repaid loans totalling £3,336 to the director. At the year end, the balance due from the director was £2,616 (2024: £720 due to director). This balance is due to be repaid within 9 months.

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 Intaglio Glass & Design Limited for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the director of Intaglio Glass & Design Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Intaglio Glass & Design Limited and state those matters that we have agreed to state to the director of Intaglio Glass & Design Limited in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Intaglio Glass & Design 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 Intaglio Glass & Design Limited. You consider that Intaglio Glass & Design 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 Intaglio Glass & Design 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.

Sharles Ltd

Chartered Accountants

29 Brandon Street

Hamilton

ML3 6DA

16 December 2025