Company registration number 01312627 (England and Wales)
Pearsons Glass Limited
Unaudited Financial Statements
For the year ended 28 February 2026
Pearsons Glass Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
Pearsons Glass Limited
Statement of financial position
As at 28 February 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
3
887,129
1,031,932
Current assets
Stocks
482,318
546,575
Debtors
4
562,606
589,495
Cash at bank and in hand
19,547
45,081
1,064,471
1,181,151
Creditors: amounts falling due within one year
5
(479,241)
(613,653)
Net current assets
585,230
567,498
Total assets less current liabilities
1,472,359
1,599,430
Creditors: amounts falling due after more than one year
6
(102,323)
(85,218)
Provisions for liabilities
(81,813)
(90,338)
Net assets
1,288,223
1,423,874
Capital and reserves
Called up share capital
900
900
Capital redemption reserve
100
100
Profit and loss reserves
1,287,223
1,422,874
Total equity
1,288,223
1,423,874
Pearsons Glass Limited
Statement of financial position (continued)
As at 28 February 2026
- 2 -

For the financial year ended 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 5 May 2026 and are signed on its behalf by:
Mr P G Vellins
Director
Company registration number 01312627 (England and Wales)
Pearsons Glass Limited
Notes to the financial statements
For the year ended 28 February 2026
- 3 -
1
Accounting policies
Company information

Pearsons Glass Limited is a private company limited by shares incorporated in England and Wales. The registered office is 9-11 Maddrell Street, Liverpool, Merseyside, L3 7EH.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Revenue

These financial statements for the year ended 28 February 2026 are the first financial statements of Pearsons Glass Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 March 2024. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
0% Depreciation
Plant and equipment
15 Reducing Balance & 10% on Cost
Fixtures and fittings
20% on Reducing Balance & 15% on Reducing Balance
Computers
25% on Cost
Motor vehicles
25% on Cost and 25% on Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Pearsons Glass Limited
Notes to the financial statements (continued)
For the year ended 28 February 2026
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.9

Ultimate Controlling Party

The ultimate controlling parties are Mr P Vellins & Mrs D Vellins, who together own the majority of the share capital.

Pearsons Glass Limited
Notes to the financial statements (continued)
For the year ended 28 February 2026
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
58
66
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 March 2025
423,673
2,946,583
3,370,256
Additions
-
0
49,232
49,232
Disposals
-
0
(29,658)
(29,658)
At 28 February 2026
423,673
2,966,157
3,389,830
Depreciation and impairment
At 1 March 2025
-
0
2,338,324
2,338,324
Depreciation charged in the year
-
0
189,119
189,119
Eliminated in respect of disposals
-
0
(24,742)
(24,742)
At 28 February 2026
-
0
2,502,701
2,502,701
Carrying amount
At 28 February 2026
423,673
463,456
887,129
At 28 February 2025
423,673
608,259
1,031,932
4
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
431,899
468,176
Other debtors
130,707
121,319
562,606
589,495
Pearsons Glass Limited
Notes to the financial statements (continued)
For the year ended 28 February 2026
- 6 -
5
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
160,816
246,933
Taxation and social security
128,126
133,058
Other creditors
190,299
233,662
479,241
613,653
6
Creditors: amounts falling due after more than one year
2026
2025
£
£
Other creditors
102,323
85,218
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