Company No: 04526521 (England and Wales)

Contents

• Company Information
• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

Directors	R L Franklin
	J Patel

Secretary

R L Franklin

Registered office	2nd Floor
	Maritime Place Quayside
	Chatham Maritime
	Chatham
	ME4 4QZ
	United Kingdom

Company number

04526521 (England and Wales)

Accountant	Kreston Reeves LLP
	2nd Floor, Maritime Place
	Quayside
	Chatham Maritime
	Chatham
	Kent
	ME4 4QZ

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Glassbox Design Limited for the financial year ended 31 March 2026 which comprise the Balance Sheet and the related notes 1 to 10 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 at www.icaew.com/regulation.

This report is made solely to the Board of Directors of Glassbox Design Limited, as a body, in accordance with the terms of our engagement letter dated 11 March 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Glassbox Design Limited and state those matters that we have agreed to state to the Board of Directors of Glassbox Design Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Glassbox Design Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Glassbox Design 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 Glassbox Design Limited. You consider that Glassbox Design Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Glassbox Design 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.

Kreston Reeves LLP

2nd Floor, Maritime Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QZ

04 August 2026

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	7,197		1,653
		7,197		1,653
Current assets
Debtors	4	59,321		22,992
Cash at bank and in hand	5	405,189		176,947
		464,510		199,939
Creditors: amounts falling due within one year	6	( 305,794)		( 40,382)
Net current assets		158,716		159,557
Total assets less current liabilities		165,913		161,210
Net assets		165,913		161,210
Capital and reserves
Called-up share capital	8	400		400
Profit and loss account		165,513		160,810
Total shareholders' funds		165,913		161,210

For the financial year ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Glassbox Design Limited (registered number: 04526521) were approved and authorised for issue by the Board of Directors on 04 August 2026. They were signed on its behalf by:

J Patel Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Glassbox Design Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor, Maritime Place Quayside, Chatham Maritime, Chatham, ME4 4QZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets is reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment

33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Office equipment		Total
	£		£
Cost
At 01 April 2025	15,532		15,532
Additions	8,341		8,341
Disposals	( 13,920)		( 13,920)
At 31 March 2026	9,953		9,953
Accumulated depreciation
At 01 April 2025	13,879		13,879
Charge for the financial year	1,956		1,956
Disposals	( 13,079)		( 13,079)
At 31 March 2026	2,756		2,756
Net book value
At 31 March 2026	7,197		7,197
At 31 March 2025	1,653		1,653

4. Debtors

	2026		2025
	£		£
Trade debtors	53,125		16,819
Prepayments	2,563		2,540
Other debtors	3,633		3,633
	59,321		22,992

5. Cash and cash equivalents

	2026		2025
	£		£
Cash at bank and in hand	405,189		176,947

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	70,122		1,440
Accruals and deferred income	188,710		3,350
Deferred tax liability	1,907		0
Taxation and social security	45,005		35,592
Other creditors	50		0
	305,794		40,382

7. Deferred tax

	2026		2025
	£		£
At the beginning of financial year	0		0
Charged to the Statement of Income and Retained Earnings	( 1,907)		0
At the end of financial year	( 1,907)		0

8. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
400 Ordinary Share shares of £ 1.00 each	400		400

9. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. There were no outstanding contributions at the balance sheet date.

10. Related party transactions

During the year the company paid dividends of £41,600 (2025- £38,000) to the shareholders who are also Directors. All other transactions with related parties, including the remuneration of key management personnel, were concluded under normal market conditions.