Specialist Glass Products Limited

Registered number

04632413

Report and Financial Statements

31 March 2025

Specialist Glass Products Limited
Report and accounts
Contents




Page

Company information	1
Directors' report	2
Strategic report	3
Independent auditor's report	4-6
Income statement	7
Statement of comprehensive income	8
Statement of financial position	9
Statement of changes in equity	10
Statement of cash flows	11
Notes to the financial statements	12-19

Specialist Glass Products Limited

Company Information

Directors

John Andrew Taylor

Jonathan Taylor

Auditors

Wheawill & Sudworth Limited

PO Box B30

35 Westgate

Huddersfield

West Yorkshire

HD1 1PA

Bankers

Lloyds Bank plc

Westgate

Huddersfield

West Yorkshire

HD1 2DN

Registered office

Unit 2

Milnsbridge Business Centre

Colne Vale Road

Milnsbridge

HD3 4NY

Registered number

04632413

Specialist Glass Products Limited
Registered number:		04632413
Directors' Report

The directors present their report and financial statements for the year ended 31 March 2025.

Principal activities
The company's principal activity during the year continued to be bespoke glass manufacturing.

Directors
The following persons served as directors during the year:
	John Andrew Taylor
	Jonathan Taylor

Directors' responsibilities

The directors are responsible for preparing the report and financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
●	select suitable accounting policies and then apply them consistently;
●	make judgements and estimates that are reasonable and prudent;
●	state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
●	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


Disclosure of information to auditors

Each person who was a director at the time this report was approved confirms that:
●	so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
●	he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.


Dividends
Ordinary dividends were paid amounting to £528000. The directors do not recommend payment of a further dividend.

This report was approved by the board on 11 December 2025 and signed on its behalf.



John Andrew Taylor
Director

Specialist Glass Products Limited
Strategic Report

Review of the business The principal activity of the company during the year was that of bespoke glass manufacturing. There have not been any significant changes in the company's activity during the last year and the directors are not aware of any significant changes in the year to come. The turnover of the company has decreased slightly from £11.61 million to £10.55 million as shown on the company’s income statement. The operating profit has also fallen by £0.84 million to £1.00 million. The directors are satisfied with the level of operating profits generated. The net assets of the business have risen during the year from £3.92 million to £4.07 million. The company has generated negative cash flows of £0.55 million due to increased investments in assets and paying down the mortgage whilst still ensuring the company has adequate working capital and can adhere to agreed payment terms with suppliers. The balance sheet shows cash reserves of £1.19 million at the year end. Principal risks and uncertainties The business remains exposed to a range of risk factors including the sourcing and pricing of raw materials, volatility in global commodity and currency markets and general economic and political uncertainties. There are managed through careful market and data analysis, sensible planning and early reaction to changes affecting the business. Management continues to closely monitor developments in relation to Brexit and the potential consequential political and economic uncertainties in order to mitigate any risks to the business.
Development and performance The directors are continuing to pursue initiatives to continue turnover growth and improve the gross margin. Particular emphasis is being placed on production efficiencies with investment in new machinery. Financial key performance indicators A range of KPIs, including order intake, margin achievement, production efficiency and collection of trade receivables, will continue to be monitored as part of the on-going management of the company's operations. Outlook Based on current data, the directors anticipate progression in the business during 2025/26.

This report was approved by the board on 11 December 2025 and signed on its behalf.



John Andrew Taylor
Director

Specialist Glass Products Limited
Independent auditor's report
to the members of Specialist Glass Products Limited

Opinion

We have audited the financial statements of Specialist Glass Products Limited (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
●	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;
●	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
●	have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
●	the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
●	the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
●	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
●	the financial statements are not in agreement with the accounting records and returns; or
●	certain disclosures of directors’ remuneration specified by law are not made; or
●	we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed: We obtained an understanding of the legal and regulatory framework applicable to the entity, including enquiries of management regarding known or suspected instances of non-compliance with laws and regulations; We focused on laws and regulations that could give rise to a material misstatement in the financial statements. Our tests included, but were not limited to: • agreement of the financial statement disclosures to underlying supporting documentation; • enquiries of management regarding known or suspected instances of non-compliance with laws and regulations; and • obtaining an understanding of the control environment in place to prevent and detect irregularities.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. • Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. • Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.


David Butterworth
(Senior Statutory Auditor)		PO Box B30
for and on behalf of		35 Westgate
Wheawill & Sudworth Limited		Huddersfield
Statutory Auditor		West Yorkshire
11 December 2025		HD1 1PA

Specialist Glass Products Limited
Income Statement
for the year ended 31 March 2025


Notes		2025		2024
£			£

Turnover	2	10,548,516		11,609,012

Cost of sales		(7,618,445)		(7,816,518)

Gross profit		2,930,071		3,792,494

Distribution costs		(329,082)		(308,360)
Administrative expenses		(1,636,860)		(1,652,769)
Other operating income		7,800		7,800

Operating profit	3	971,929		1,839,165

Profit/(loss) on sale of fixed assets		22,131		(28,008)
Interest receivable		27,514		25,869
Interest payable	6	(143,323)		(158,735)

Profit on ordinary activities before taxation		878,251		1,678,291

Tax on profit on ordinary activities	7	(75,458)		(350,595)

Profit for the financial year		802,793		1,327,696

Specialist Glass Products Limited
Statement of Comprehensive Income
for the year ended 31 March 2025


Notes	2025		2024
£		£

Profit for the financial year	802,793		1,327,696

Other comprehensive income	-		-

Total comprehensive income for the year	802,793		1,327,696

Specialist Glass Products Limited
Statement of Financial Position
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	8		5,189,748			4,775,752

Current assets
Stocks	9	324,209			385,722
Debtors	10	1,618,666			1,497,676
Cash at bank and in hand		1,189,599			1,742,322
		3,132,474			3,625,720

Creditors: amounts falling due within one year	12	(1,678,083)			(2,366,764)

Net current assets			1,454,391			1,258,956

Total assets less current liabilities			6,644,139			6,034,708

Creditors: amounts falling due after more than one year	13		(1,986,890)			(1,822,010)

Provisions for liabilities
Deferred taxation	16		(453,312)			(283,554)

Net assets			4,203,937			3,929,144

Capital and reserves
Called up share capital	17		520			520
Profit and loss account	18		4,203,417			3,928,624

Total equity			4,203,937			3,929,144




John Andrew Taylor
Director
Approved by the board on 11 December 2025

Specialist Glass Products Limited
Statement of Changes in Equity
for the year ended 31 March 2025

Share		Share		Other		Profit		Total
capital		premium		reserves		and loss
account
£		£		£		£		£

At 1 April 2023	520		-		-		3,128,928		3,129,448

Profit for the financial year							1,327,696		1,327,696

Dividends							(528,000)		(528,000)

At 31 March 2024	520		-		-		3,928,624		3,929,144



At 1 April 2024	520		-		-		3,928,624		3,929,144

Profit for the financial year							802,793		802,793

Dividends							(528,000)		(528,000)

At 31 March 2025	520		-		-		4,203,417		4,203,937

Specialist Glass Products Limited
Statement of Cash Flows
for the year ended 31 March 2025

Notes	2025		2024
£		£
Operating activities
Profit for the financial year	802,793		1,327,696

Adjustments for:
(Profit)/loss on sale of fixed assets	(22,131)		28,008
Interest receivable	(27,514)		(25,869)
Interest payable	143,323		158,735
Tax on profit on ordinary activities	75,458		350,595
Depreciation	850,678		694,534
Decrease in stocks	61,513		11,492
(Increase)/decrease in debtors	(120,990)		35,374
Decrease in creditors	(499,359)		(244,466)
	1,263,771		2,336,099

Interest received	27,514		25,869
Interest paid	(76,624)		(94,822)
Interest element of finance lease payments	(66,699)		(63,913)
Corporation tax paid	(141,612)		(258,736)

Cash generated by operating activities	1,006,350		1,944,497

Investing activities
Payments to acquire tangible fixed assets	(400,690)		(810,696)
Proceeds from sale of tangible fixed assets	51,240		1,317

Cash used in investing activities	(349,450)		(809,379)

Financing activities
Equity dividends paid	(528,000)		(528,000)
Repayment of loans	(203,641)		(517,839)
Capital element of finance lease payments	(477,982)		(498,015)

Cash used in financing activities	(1,209,623)		(1,543,854)

Net cash used
Cash generated by operating activities	1,006,350		1,944,497
Cash used in investing activities	(349,450)		(809,379)
Cash used in financing activities	(1,209,623)		(1,543,854)

Net cash used	(552,723)		(408,736)

Cash and cash equivalents at 1 April	1,742,322		2,151,058
Cash and cash equivalents at 31 March	1,189,599		1,742,322

Cash and cash equivalents comprise:
Cash at bank	1,189,599		1,742,322

Specialist Glass Products Limited
Notes to the Accounts
for the year ended 31 March 2025

	General information
	The company is a private company limited by shares, registration number 04632413 and registered in England and Wales. The address of the registered office is Unit 2, Milnsbridge Business Centre, Colne Vale Road, Milnsbridge, HD3 4NY.

1	Summary of significant accounting policies

	Basis of preparation
	The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

	Judgements and key sources of estimation uncertainty
	The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

	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:

	Freehold buildings			over 50 years
	Leasehold land and buildings			over the lease term
	Plant and machinery			25% reducing balance
	Fixtures, fittings, tools and equipment			15% reducing balance/over 4 years for equipment


	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	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 are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

	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.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Government grants
	Government grants are recognised using the accruals modal and performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.


2	Analysis of turnover					2025		2024
£							£

	Sale of goods					10,548,516		11,609,012

	By geographical market:

	UK					10,006,430		10,926,863
	Europe					508,785		682,149
	North America					33,301		-
						10,548,516		11,609,012
3	Operating profit					2025		2024
£							£
	This is stated after charging:

	Depreciation of owned fixed assets					320,957		394,249
	Depreciation of assets held under finance leases and hire purchase contracts					529,721		300,285
	Profit/(Loss) on disposal of tangible fixed assets					(22,131)		28,008
	Operating lease rentals - plant and machinery					68,693		127,085
	Operating lease rentals - land and buildings					117,200		117,200
	Auditors' remuneration for audit services					6,750		6,000
	Key management personnel compensation (including directors' emoluments)					242,874		221,776


4	Directors' emoluments					2025		2024
£							£

	Emoluments					93,357		73,851
	Company contributions to defined contribution pension plans					48,000		48,000
						141,357		121,851


	Number of directors to whom retirement benefits accrued:					2025		2024
Number							Number

	Defined contribution plans					2		2


5	Staff costs					2025		2024
£							£

	Wages and salaries					3,308,474		3,469,769
	Social security costs					317,092		323,962
	Other pension costs					349,955		322,660
						3,975,521		4,116,391


	Average number of employees during the year					Number	Number

	Administration					23		23
	Manufacturing					75		75
	Marketing					8		8
						106		106


6	Interest payable					2025		2024
£							£

	Bank loans and overdrafts					76,624		94,822
	Finance charges payable under finance leases and hire purchase contracts					66,699		63,913
						143,323		158,735


7	Taxation					2025		2024
£							£
	Analysis of charge in period
	Current tax:
	UK corporation tax on profits of the period					63,707		380,002
	Adjustments in respect of previous periods					(158,007)		(80,381)
						(94,300)		299,621

	Deferred tax:
	Origination and reversal of timing differences					169,758		50,974


	Tax on profit on ordinary activities					75,458		350,595


	Factors affecting tax charge for period
	The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:

						2025		2024
£							£
	Profit on ordinary activities before tax					878,251		1,678,291

	Standard rate of corporation tax in the UK					25%		25%

£							£
	Profit on ordinary activities multiplied by the standard rate of corporation tax					219,563		419,573

	Effects of:
	Expenses not deductible for tax purposes					5,491		6,215
	Timing differences in respect of fixed assets					8,411		8,413
	Adjustments to tax charge in respect of previous periods					(158,007)		(80,381)
	Deferred tax not provided					-		(3,225)

	Overprovision in current year					75,458		350,595


	Factors that may affect future tax charges
	There are no factors that may affect future tax charges.



8	Tangible fixed assets
		Land and buildings		Plant and machinery		Fixtures, fittings, tools and equipment		Total
		At cost		At cost		At cost
£			£		£		£
	Cost or valuation
	At 1 April 2024	3,099,911		6,563,040		552,845		10,215,796
	Additions	-		1,293,783		-		1,293,783
	Disposals	-		(38,812)		-		(38,812)
	At 31 March 2025	3,099,911		7,818,011		552,845		11,470,767

	Depreciation
	At 1 April 2024	280,332		4,902,718		256,994		5,440,044
	Charge for the year	46,996		731,263		72,419		850,678
	On disposals	-		(9,703)		-		(9,703)
	At 31 March 2025	327,328		5,624,278		329,413		6,281,019

	Carrying amount
	At 31 March 2025	2,772,583		2,193,733		223,432		5,189,748
	At 31 March 2024	2,819,579		1,660,322		295,851		4,775,752

						2025		2024
£							£
	Carrying value of plant and machinery included above held under finance leases and hire purchase contracts					1,589,149		900,857


9	Stocks					2025		2024
£							£

	Raw materials and consumables					299,209		359,204
	Work in progress					25,000		26,518
						324,209		385,722


10	Debtors					2025		2024
£							£

	Trade debtors					1,395,139		1,421,925
	Other debtors					211,919		57,577
	Prepayments and accrued income					11,608		18,174
						1,618,666		1,497,676



11	Net debt reconciliation
Cash
B/fwd					flows		C/fwd
£					£		£
	Net cash
	Cash at bank and in hand			1,742,322		(552,723)		1,189,599
				1,742,322		(552,723)		1,189,599

	Debt
	Bank loans			1,104,495		(203,641)		900,854
	Obligations under finance leases			1,026,540		415,111		1,441,651
				2,131,035		211,470		2,342,505


	Total			(388,713)		(764,193)		(1,152,906)


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

	Bank loans					153,789		198,625
	Obligations under finance lease and hire purchase contracts					529,426		445,800
	Trade creditors					612,384		796,202
	Corporation tax					63,711		299,623
	Other taxes and social security costs					99,863		328,942
	Other creditors					103,428		222,702
	Accruals and deferred income					115,482		74,870
						1,678,083		2,366,764

	The finance leases and hire purchase contracts are secured on the assets which they relate to. Borrowings are secured by charges over the company's assets.


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

	Bank loans					747,065		905,870
	Obligations under finance lease and hire purchase contracts					912,225		580,740
	Other creditors					327,600		335,400
						1,986,890		1,822,010


14	Loans					2025		2024
£							£
	Loans not wholly repayable within five years:
	Mortgage					487,969		600,985



15	Obligations under finance leases and hire purchase					2025		2024
	contracts					£	£

	Amounts payable:
	Within one year					529,426		445,800
	Within two to five years					795,558		580,740
	After five years					116,667		-
						1,441,651		1,026,540
16	Deferred taxation					2025		2024
£							£

	Accelerated capital allowances					453,312		283,554


						2025		2024
£							£

	At 1 April					283,554		232,580
	Charged to the profit and loss account					169,758		50,974

	At 31 March					453,312		283,554



17	Share capital	Nominal		2025		2025		2024
value			Number		£		£
	Allotted, called up and fully paid:
	A Ordinary shares	£1 each		250		250		250
	C Ordinary shares	£1 each		250		250		250
	D Ordinary shares	£1 each		10		10		10
	F Ordinary shares	£1 each		10		10		10
						520		520


18	Profit and loss account					2025		2024
£							£

	At 1 April					3,928,624		3,128,928
	Profit for the financial year					802,793		1,327,696
	Dividends					(528,000)		(528,000)

	At 31 March					4,203,417		3,928,624




19	Dividends					2025		2024
£							£

	Dividends on ordinary shares (note 18)					528,000		528,000


20	Reserves

	Profit & loss account The profit and loss account represents cumulative profits and losses, net of dividends and other adjustments.


21	Other financial commitments

	Total future minimum lease payments under non-cancellable operating leases:

		Land and buildings		Land and buildings	Other		Other
		2025		2024		2025		2024
£			£		£		£
	Falling due:
	within one year	-		-		69,331		45,555
	within two to five years	-		-		80,983		72,998
		-		-		150,314		118,553


22	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	John Andrew Taylor
	Directors loan - no fixed repayment terms	28,429		204,252		(205,000)		27,681

	Jonathan Taylor
	Directors loan - no fixed repayment terms	27,065		202,315		(205,000)		24,380

		55,494		406,567		(410,000)		52,061


23	Related party transactions

	At the year end, the company had loans totalling £85,244 (2024 £207,657) owing to key management personnel. These loans are unsecured, repayable upon demand and currently interest free.


24	Controlling party

	There is no one controlling party.


25	Presentation currency

	The financial statements are presented in Sterling.


26	Legal form of entity and country of incorporation

	Specialist Glass Products Limited is a private company limited by shares and incorporated in England.


27	Principal place of business

	The address of the company's principal place of business and registered office is:

	Unit 2
	Milnsbridge Business Centre
	Colne Vale Road
	Milnsbridge
	Huddersfield
	HD3 4NY