REGISTERED NUMBER: 01312627 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2025

for

Pearsons Glass Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P G Vellins

D R Vellins

A M Vellins

B Stanley

S Mckay

SECRETARY:

D R Vellins

REGISTERED OFFICE:

9-11 Maddrell Street

Liverpool

Merseyside

L3 7EH

REGISTERED NUMBER:

01312627 (England and Wales)

ACCOUNTANTS:

DJH Liverpool

3rd Floor Pacific Chambers

11-13 Victoria Street

Liverpool

Merseyside

L2 5QQ

FIXED ASSETS

Tangible assets

4

1,031,932

1,027,773

CURRENT ASSETS

Stocks

546,575

547,469

Debtors

5

589,497

775,016

Cash at bank and in hand

45,081

71,875

1,181,153

1,394,360

CREDITORS

Amounts falling due within one year

6

613,653

582,332

NET CURRENT ASSETS

567,500

812,028

TOTAL ASSETS LESS CURRENT LIABILITIES

1,599,432

1,839,801

CREDITORS

Amounts falling due after more than one year

7

(85,218

)

(83,871

)

PROVISIONS FOR LIABILITIES

10

(90,338

)

(30,143

)

NET ASSETS

1,423,876

1,725,787

CAPITAL AND RESERVES

Called up share capital

900

900

Capital redemption reserve

11

100

100

Retained earnings

11

1,422,876

1,724,787

SHAREHOLDERS' FUNDS

1,423,876

1,725,787

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 August 2025 and were signed on its behalf by:

P G Vellins - Director

1.	STATUTORY INFORMATION

Pearsons Glass 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance and 10% on cost

Fixtures and fittings

-

20% on reducing balance and 15% on reducing balance

Motor vehicles

-

25% on cost and 25% reducing balance

Computer equipment

-

25% on cost

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 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items and the inclusion of attributable overheads.

Foreign exchange transactions

All gains and losses are charged or credited to the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 66 (2024 - 71 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Improvements

Plant and

and

to property

machinery

fittings

£

£

£

COST

At 1 March 2024

386,462

1,858,213

495,008

Additions

37,211

22,617

5,556

Disposals

-

-

-

At 28 February 2025

423,673

1,880,830

500,564

DEPRECIATION

At 1 March 2024

-

1,381,691

434,073

Charge for year

-

178,511

16,869

Eliminated on disposal

-

-

-

At 28 February 2025

-

1,560,202

450,942

NET BOOK VALUE

At 28 February 2025

423,673

320,628

49,622

At 29 February 2024

386,462

476,522

60,935

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 March 2024

404,486

73,370

3,217,539

Additions

146,071

45,228

256,683

Disposals

(103,966

)

-

(103,966

)

At 28 February 2025

446,591

118,598

3,370,256

DEPRECIATION

At 1 March 2024

364,664

9,338

2,189,766

Charge for year

52,920

4,224

252,524

Eliminated on disposal

(103,966

)

-

(103,966

)

At 28 February 2025

313,618

13,562

2,338,324

NET BOOK VALUE

At 28 February 2025

132,973

105,036

1,031,932

At 29 February 2024

39,822

64,032

1,027,773

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 March 2024

752,240

417,094

1,169,334

Additions

-

146,071

146,071

Transfer to ownership

(387,480

)

(417,094

)

(804,574

)

At 28 February 2025

364,760

146,071

510,831

DEPRECIATION

At 1 March 2024

471,228

114,890

586,118

Charge for year

45,169

9,873

55,042

Transfer to ownership

(407,955

)

(114,890

)

(522,845

)

At 28 February 2025

108,442

9,873

118,315

NET BOOK VALUE

At 28 February 2025

256,318

136,198

392,516

At 29 February 2024

281,012

302,204

583,216

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade debtors

468,178

666,780

Other debtors

16,461

1,623

Prepayments

104,858

106,613

589,497

775,016

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Hire purchase contracts

132,162

123,878

Trade creditors

246,933

192,752

Tax

-

(10,211

)

Social security and other taxes

45,900

48,773

VAT

87,158

107,158

Other creditors

90,811

92,248

Accrued expenses

10,689

27,734

613,653

582,332

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

29.2.24

£

£

Hire purchase contracts

85,218

83,871

8.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.25

29.2.24

£

£

Hire purchase contracts

217,380

207,749

The HP liabilities are secured against the assets to which they relate.

9.	FINANCIAL INSTRUMENTS

RBS Invoice Finance Limited holds a fixed and floating charge over the undertaking and all property and assets, present and future, including goodwill, book debts, uncalled capital, buildings, fixtures and plant and machinery.

10.	PROVISIONS FOR LIABILITIES

28.2.25

29.2.24

£

£

Deferred tax provision

90,338

30,143

Deferred tax

£

Balance at 1 March 2024

30,143

Provided during year

60,195

Balance at 28 February 2025

90,338

11.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 March 2024

1,724,787

100

1,724,887

Deficit for the year

(211,911

)

(211,911

)

Dividends

(90,000

)

(90,000

)

At 28 February 2025

1,422,876

100

1,422,976

12.	RELATED PARTY DISCLOSURES

The company operates from premises owned by Pearsons Glass Pension Fund. Rent of £70,500 was paid in the year.

13.	ULTIMATE CONTROLLING PARTY

The company is controlled by P G Vellins and D R Vellins.