REGISTERED NUMBER: 00371181 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

GLASSWORKS HOUNSELL LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

Mr W R Brinkman

Mr O G Brinkman

Mr N A Ferguson

SECRETARY:

Miss G Patel

REGISTERED OFFICE:

C/o Glassworks Hounsell

Park Lane

HALESOWEN

West Midlands

B63

2QS

REGISTERED NUMBER:

00371181 (England and Wales)

ACCOUNTANTS:

E R Grove & Co Limited

Chartered Accountants

Grove House

Coombs Wood Court

Steel Park Road

Halesowen

West Midlands

B62 8BF

The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Glassworks Hounsell Limited for the year ended 31 March 2026 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Glassworks Hounsell Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Glassworks Hounsell Limited and state those matters that we have agreed to state to the Board of Directors of Glassworks Hounsell Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Glassworks Hounsell Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Glassworks Hounsell Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Glassworks Hounsell Limited. You consider that Glassworks Hounsell Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Glassworks Hounsell Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

E R Grove & Co Limited

Chartered Accountants

Grove House

Coombs Wood Court

Steel Park Road

Halesowen

West Midlands

B62 8BF

9 July 2026

FIXED ASSETS

Intangible assets

4

40,700

44,275

Tangible assets

5

164,536

190,716

205,236

234,991

CURRENT ASSETS

Stocks

411,868

432,206

Debtors

6

1,008,762

503,651

Cash at bank and in hand

307,380

1,271,265

1,728,010

2,207,122

CREDITORS

Amounts falling due within one year

7

782,450

816,815

NET CURRENT ASSETS

945,560

1,390,307

TOTAL ASSETS LESS CURRENT LIABILITIES

1,150,796

1,625,298

CAPITAL AND RESERVES

Called up share capital

19,280

19,280

Share premium

2,212

2,212

Retained earnings

1,129,304

1,603,806

SHAREHOLDERS' FUNDS

1,150,796

1,625,298

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 9 July 2026 and were signed on its behalf by:

Mr W R Brinkman - Director

1.	STATUTORY INFORMATION

Glassworks Hounsell 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of fifteen years.

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.

Improvements to property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2025 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2025

and 31 March 2026

55,000

AMORTISATION

At 1 April 2025

10,725

Amortisation for year

3,575

At 31 March 2026

14,300

NET BOOK VALUE

At 31 March 2026

40,700

At 31 March 2025

44,275

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 April 2025

43,714

1,620,134

17,000

1,680,848

Additions

-

19,583

-

19,583

Disposals

-

(48,718

)

-

(48,718

)

At 31 March 2026

43,714

1,590,999

17,000

1,651,713

DEPRECIATION

At 1 April 2025

8,773

1,464,527

16,832

1,490,132

Charge for year

874

35,038

42

35,954

Eliminated on disposal

-

(38,909

)

-

(38,909

)

At 31 March 2026

9,647

1,460,656

16,874

1,487,177

NET BOOK VALUE

At 31 March 2026

34,067

130,343

126

164,536

At 31 March 2025

34,941

155,607

168

190,716

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

938,400

431,025

Other debtors

70,362

72,626

1,008,762

503,651

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

279,634

359,455

Taxation and social security

156,821

127,008

Other creditors

345,995

330,352

782,450

816,815

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2026

2025

£

£

Within one year

39,491

40,181

Between one and five years

2,219

3,860

41,710

44,041

9.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed its parent undertaking £179,029 (2025: £102,439).

10.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Metrogrand Limited, a company registered in England and Wales. A copy of the financial statements of the holding company may be obtained from its registered office at Park Lane, Halesowen, West Midlands B63 2QS.