REGISTERED NUMBER: 11712321 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2026

for

Glassline Gfc Ltd

Page

Company Information

1

Report of the Accountants

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTOR:

Mr Atanas Yuriev Petkov

REGISTERED OFFICE:

12 Park Lane

Tilehurst

Reading

Berkshire

RG31 5DL

REGISTERED NUMBER:

11712321 (England and Wales)

ACCOUNTANTS:

RAA Avalon Accounting Ltd

12 Park Lane

Tilehurst

Reading

Berkshire

RG31 5DL

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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2026 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

RAA Avalon Accounting Ltd

12 Park Lane

Tilehurst

Reading

Berkshire

RG31 5DL

Date: .............................................

Fixed assets

Tangible assets

4

59,408

13,904

Current assets

Debtors

5

1,549,138

1,523,147

Investments

6

98,631

-

Cash at bank

799,069

683,171

2,446,838

2,206,318

Creditors

Amounts falling due within one year

7

(209,126

)

(383,532

)

Net current assets

2,237,712

1,822,786

Total assets less current liabilities

2,297,120

1,836,690

Provisions for liabilities

8

(14,852

)

-

Net assets

2,282,268

1,836,690

Capital and reserves

Called up share capital

9

12

12

Retained earnings

10

2,282,256

1,836,678

Shareholders' funds

2,282,268

1,836,690

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 6 May 2026 and were signed by:

Mr Atanas Yuriev Petkov - Director

1.	STATUTORY INFORMATION

Glassline Gfc Ltd 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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2025 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2025

1,704

1,669

22,342

6,212

31,927

Additions

323

580

66,000

-

66,903

Disposals

-

-

(7,542

)

-

(7,542

)

At 31 March 2026

2,027

2,249

80,800

6,212

91,288

DEPRECIATION

At 1 April 2025

1,192

1,273

12,420

3,138

18,023

Charge for year

208

244

18,581

769

19,802

Eliminated on disposal

-

-

(5,945

)

-

(5,945

)

At 31 March 2026

1,400

1,517

25,056

3,907

31,880

NET BOOK VALUE

At 31 March 2026

627

732

55,744

2,305

59,408

At 31 March 2025

512

396

9,922

3,074

13,904

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

27,049

4,776

Inter Company Loan

1,501,000

1,501,000

VAT

10,817

-

Deferred tax asset

-

3,476

Prepayments

10,272

13,895

1,549,138

1,523,147

6.	CURRENT ASSET INVESTMENTS

2026

2025

£

£

Investments

98,631

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Corporation tax

204,467

336,077

Social security and other tax

661

12,305

VAT

-

31,844

Credit card

215

80

Directors' current accounts

3,053

2,633

Accruals

730

593

209,126

383,532

8.	PROVISIONS FOR LIABILITIES

2026

£

Deferred tax

14,852

Deferred

tax

£

Balance at 1 April 2025

(3,476

)

Provided during year

18,328

Balance at 31 March 2026

14,852

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

12

Ordinary

£1

12

12

10.

RESERVES

Retained

earnings

£

At 1 April 2025

1,836,678

Profit for the year

640,578

Dividends

(195,000

)

At 31 March 2026

2,282,256

11.	RELATED PARTY DISCLOSURES

During the year, company owed amount of-£1,501,000(PY - £1,501,000) to IPT Property Ltd, in which Mr. Atanas Yuriev Petkov is also a director.

Opening Balance : £1,501,000

Transactions during the year :- Nil

Closing balance :- £1,501,000

During the year, dividend of £65,000 (PY - £66,000) paid to Mr. Atanas Yuriev Petkov, £65,000 (PY -66,000) paid to Mr. Atanas Taterski and £65,000 (PY - £66,000) paid to Mr. Martin Ivanov. Mr. Atanas Yuriev Petkov is also a director of the company.