REGISTERED NUMBER: 03020644 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2026

for

Glass World (Cardiff) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Mr P Zehetmayr

Mrs J Zehetmayr

Mr D P Treharne

Mr W H J Zehetmayr

Secretary:

Registered office:

Unit B

Parc Erin

Tonyrefail

RCT

CF39 8WW

Registered number:

03020644 (England and Wales)

Accountants:

Curtis Bowden & Thomas Limited

Chartered Certified Accountants

101 Dunraven Street

Tonypandy

CF40 1AR

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

2,154,398

2,142,999

Investments

6

2,193,862

-

4,348,260

2,142,999

Current assets

Stocks

238,647

226,346

Debtors

7

630,992

415,748

Cash at bank

204,984

474,427

1,074,623

1,116,521

Creditors

Amounts falling due within one year

8

925,433

548,915

Net current assets

149,190

567,606

Total assets less current liabilities

4,497,450

2,710,605

Creditors

Amounts falling due after more than one year

9

(2,280,500

)

(636,000

)

Provisions for liabilities

(321,213

)

(310,580

)

Net assets

1,895,737

1,764,025

Capital and reserves

Called up share capital

350

300

Retained earnings

1,895,387

1,763,725

Shareholders' funds

1,895,737

1,764,025

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 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 1 July 2026 and were signed on its behalf by:

Mr W H J Zehetmayr - Director

1.	Statutory information

Glass World (Cardiff) 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

10% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

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.

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 40 (2025 - 41 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 April 2025

and 31 March 2026

300,000

Amortisation

At 1 April 2025

and 31 March 2026

300,000

Net book value

At 31 March 2026

-

At 31 March 2025

-

5.	Tangible fixed assets

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Cost

At 1 April 2025

980,418

1,915,958

104,525

223,158

3,224,059

Additions

-

80,358

2,656

119,433

202,447

Disposals

-

-

-

(41,678

)

(41,678

)

At 31 March 2026

980,418

1,996,316

107,181

300,913

3,384,828

Depreciation

At 1 April 2025

108,164

768,336

72,015

132,545

1,081,060

Charge for year

18,538

116,772

8,393

38,585

182,288

Eliminated on disposal

-

-

-

(32,918

)

(32,918

)

At 31 March 2026

126,702

885,108

80,408

138,212

1,230,430

Net book value

At 31 March 2026

853,716

1,111,208

26,773

162,701

2,154,398

At 31 March 2025

872,254

1,147,622

32,510

90,613

2,142,999

6.	Fixed asset investments

Shares in

group

undertakings

£

Cost

Additions

2,193,862

At 31 March 2026

2,193,862

Net book value

At 31 March 2026

2,193,862

7.

Debtors: amounts falling due within one year

31.3.26

31.3.25

£

£

Trade debtors

487,137

415,748

Other debtors

143,855

-

630,992

415,748

8.

Creditors: amounts falling due within one year

31.3.26

31.3.25

£

£

Trade creditors

187,332

111,370

Amounts owed to group undertakings

200,000

-

Taxation and social security

161,149

83,856

Other creditors

376,952

353,689

925,433

548,915

9.

Creditors: amounts falling due after more than one year

31.3.26

31.3.25

£

£

Amounts owed to group undertakings

400,000

-

Other creditors

1,880,500

636,000

2,280,500

636,000

10.	Related party disclosures

Included in Other Creditors, falling due after more than one year, is an amount of £1,369,500 (2025 : £619,500) of amounts loaned to the company by related parties. Interest is charged at commercial rates on these family loans.

11.	Ultimate controlling party

The directors are the ultimate controlling party in the company.

12.	Investment in subsidiary

Included within Fixed Asset Investment is the companies acquisition of Slenderpane Limited.

Slenderpane Limited is a 100% subsidiary of Glass World (Cardiff) Limited.

13.	Deferred income

Included within other creditors is as amount of £16,500 (2025 : £22,000) being the balance of a deferred government grant in relation to the purchase of plant and equipment. The grant is being released to the profit and loss account in accordance with the depreciation policy of the asset.