REGISTERED NUMBER: SC643595 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Glasshouse Events Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

H M A Nicol

A G Nicol

J C M Nicol

REGISTERED OFFICE:

Unit 4 Butlerfield Industrial Estate

Bonnyrigg

Midlothian

EH19 3JQ

REGISTERED NUMBER:

SC643595 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

FIXED ASSETS

Intangible assets

4

-

27,388

Tangible assets

5

59,129

47,312

59,129

74,700

CURRENT ASSETS

Debtors

6

115,090

74,988

Cash at bank and in hand

195,394

253,212

310,484

328,200

CREDITORS

Amounts falling due within one year

7

324,367

411,534

NET CURRENT LIABILITIES

(13,883

)

(83,334

)

TOTAL ASSETS LESS CURRENT LIABILITIES

45,246

(8,634

)

PROVISIONS FOR LIABILITIES

8

14,782

11,828

NET ASSETS/(LIABILITIES)

30,464

(20,462

)

CAPITAL AND RESERVES

Called up share capital

9

1

1

Share premium

10

34,999

34,999

Retained earnings

10

(4,536

)

(55,462

)

SHAREHOLDERS' FUNDS

30,464

(20,462

)

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 16 December 2025 and were signed on its behalf by:

H M A Nicol - Director

1.	STATUTORY INFORMATION

Glasshouse Events 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value.

The financial statements have been prepared on a going concern basis, the acceptability of which is dependent on the continued support of the director.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five 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

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Computer equipment; 25 % per annum

Plant and machinery; 20 % per annum

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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 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 contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

268,020

AMORTISATION

At 1 April 2024

240,632

Amortisation for year

27,388

At 31 March 2025

268,020

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

27,388

5.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 April 2024

157,271

1,082

158,353

Additions

41,514

-

41,514

At 31 March 2025

198,785

1,082

199,867

DEPRECIATION

At 1 April 2024

110,301

740

111,041

Charge for year

29,526

171

29,697

At 31 March 2025

139,827

911

140,738

NET BOOK VALUE

At 31 March 2025

58,958

171

59,129

At 31 March 2024

46,970

342

47,312

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and

machinery

£

COST

At 1 April 2024

and 31 March 2025

19,600

DEPRECIATION

At 1 April 2024

17,597

Charge for year

2,003

At 31 March 2025

19,600

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

2,003

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

110,003

54,209

Other debtors

5,087

20,779

115,090

74,988

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

20,130

51,646

Taxation and social security

5,657

6,053

Other creditors

298,580

353,835

324,367

411,534

8.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

14,782

11,828

Deferred

tax

£

Balance at 1 April 2024

11,828

Provided during year

2,954

Balance at 31 March 2025

14,782

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary

0.01

1

1

10.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 April 2024

(55,462

)

34,999

(20,463

)

Profit for the year

50,926

50,926

At 31 March 2025

(4,536

)

34,999

30,463

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

A G Nicol

Balance outstanding at start of year

3,065

1,807

Amounts advanced

4,214

3,065

Amounts repaid

(7,279

)

(1,807

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

3,065

J C M Nicol

Balance outstanding at start of year

2,467

1,457

Amounts advanced

3,342

2,467

Amounts repaid

(5,809

)

(1,457

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

2,467

As at 31 March 2025, the company owed a director £290,986 (2024: £346,075).

12.	RELATED PARTY DISCLOSURES

During the year there were no related party transactions (2024: none).

13.	ULTIMATE CONTROLLING PARTY

The controlling party is H M A Nicol.