Glass Inspirations Limited - Filleted accounts

Glass Inspirations Limited
Registered number:		06574881
Statement of Financial Position
as at 31 March 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		8,839			14,807

Current assets
Stocks		26,627			15,560
Debtors	4	53,284			55,021
Cash at bank and in hand		63,447			74,895
		143,358			145,476

Creditors: amounts falling due within one year	5	(48,930)			(43,487)

Net current assets			94,428			101,989

Total assets less current liabilities			103,267			116,796

Creditors: amounts falling due after more than one year	6		(4,795)			(10,244)

Provisions for liabilities			(1,679)			(2,813)


Net assets			96,793			103,739

Capital and reserves
Called up share capital			40			40
Profit and loss account			96,753			103,699

Shareholder's funds			96,793			103,739

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




J Breakwell
Director
Approved by the board on 8 June 2026

Glass Inspirations Limited
Notes to the Accounts
for the year ended 31 March 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.

	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:

	Plant and machinery			20% reducing balance
	Motor vehicles			25% reducing balance

	Inventories
	Inventories 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, 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. 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.

	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
	The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.



2	Employees and directors					2026		2025
Number							Number

	Average number of directors and persons employed by the company					7		7


3	Tangible fixed assets
				Plant and machinery etc		Motor vehicles		Total
£					£		£
	Cost
	At 1 April 2025			10,779		26,790		37,569
	Additions			-		7,500		7,500
	Disposals			-		(19,300)		(19,300)
	At 31 March 2026			10,779		14,990		25,769

	Depreciation
	At 1 April 2025			9,722		13,040		22,762
	Charge for the year			212		2,665		2,877
	On disposals			-		(8,709)		(8,709)
	At 31 March 2026			9,934		6,996		16,930

	Net book value
	At 31 March 2026			845		7,994		8,839
	At 31 March 2025			1,057		13,750		14,807




4	Debtors					2026		2025
£							£

	Trade debtors					12,331		14,832
	Prepayments					910		-
	Other debtors					40,043		40,189
						53,284		55,021


5	Creditors: amounts falling due within one year					2026		2025
£							£

	Bank loans and overdrafts					1,775		10,388
	Obligations under finance lease and hire purchase contracts					2,497		4,415
	Trade creditors					21,101		12,262
	Accruals					1,180		1,130
	Corporation tax					8,330		5,420
	Other taxes and social security costs					12,852		9,058
	Other creditors					1,195		814
						48,930		43,487


6	Creditors: amounts falling due after one year					2026		2025
£							£

	Bank loans					-		1,848
	Obligations under finance lease and hire purchase contracts					4,795		8,396
						4,795		10,244


7	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	J Breakwell
	Repayable on demand	30,018		659		1,113		30,472

		30,018		659		1,113		30,472


8	Other information

	Glass Inspirations Limited is a private company limited by shares and incorporated in England. Its registered office is:
	269 Farnborough Road
	Farnborough
	Hampshire
	GU14 7LY