REGISTERED NUMBER: 10721673 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

FOR

GLANVILLES DAMANT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms C Roberts

Mr N E J Hessey

Ms A L Newton

Mrs L Elliott

Ms M F Russell

Mr R S Sangha

REGISTERED OFFICE:

The Courtyard St Cross Business Park

Monks Brook

Newport

PO30 5BF

REGISTERED NUMBER:

10721673 (England and Wales)

ACCOUNTANTS:

Gibson Whitter

Chartered Accountants

and Chartered Tax Advisers

Larch House

Parklands Business Park

Denmead

Hampshire

PO7 6XP

FIXED ASSETS

Tangible assets

4

194,515

222,626

CURRENT ASSETS

Stocks

686,701

689,000

Debtors

5

465,414

594,858

Cash at bank and in hand

796,037

500,168

1,948,152

1,784,026

CREDITORS

Amounts falling due within one year

6

946,560

1,074,687

NET CURRENT ASSETS

1,001,592

709,339

TOTAL ASSETS LESS CURRENT LIABILITIES

1,196,107

931,965

CREDITORS

Amounts falling due after more than one year

7

(60,121

)

(12,500

)

PROVISIONS FOR LIABILITIES

9

(9,852

)

(15,656

)

PENSION LIABILITY

-

(32,430

)

NET ASSETS

1,126,134

871,379

CAPITAL AND RESERVES

Called up share capital

600

600

Retained earnings

1,125,534

870,779

SHAREHOLDERS' FUNDS

1,126,134

871,379

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 and authorised for issue by the Board of Directors and authorised for issue on 9 September 2026 and were signed on its behalf by:

Ms C Roberts - Director

Mr R S Sangha - Director

1.	STATUTORY INFORMATION

Glanvilles Damant 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

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

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 etc

-

33% on cost and 20% on cost

Buildings are depreciated at 2% on cost. No depreciation has been provided on land element.

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 fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash- generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Stocks

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

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 cost of providing benefits under defined benefit plans is determined separately for each plan using the projected unit credit method, and is based on actuarial advice.

The change in the net defined benefit liability arising from employee service during the year is recognised as an employee cost. The cost of plan introductions, benefit changes, settlements and curtailments are recognised as an expense in measuring profit or loss in the period in which they arise.

The net interest element is determined by multiplying the net defined benefit liability by the discount rate, taking into account any changes in the net defined benefit liability during the period as a result of contribution and benefit payments. The net interest is recognised in profit or loss as other finance revenue or cost.

Remeasurement changes comprise actuarial gains and losses, the effect of the asset ceiling and the return on the net defined benefit liability excluding amounts included in net interest. These are recognised immediately in other comprehensive income in the period in which they occur and are not reclassified to profit and loss in subsequent periods.

The net defined benefit pension asset or liability in the balance sheet comprises the total for each plan of the present value of the defined benefit obligation (using a discount rate based on high quality corporate bonds), less the fair value of plan assets out of which the obligations are to be settled directly. Fair value is based on market price information, and in the case of quoted securities is the published bid price. The value of a net pension benefit asset is limited to the amount that may be recovered either through reduced contributions or agreed refunds from the scheme.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2025 - 41 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2025

150,000

425,843

575,843

Additions

-

1,738

1,738

At 31 March 2026

150,000

427,581

577,581

DEPRECIATION

At 1 April 2025

6,030

347,187

353,217

Charge for year

2,010

27,839

29,849

At 31 March 2026

8,040

375,026

383,066

NET BOOK VALUE

At 31 March 2026

141,960

52,555

194,515

At 31 March 2025

143,970

78,656

222,626

Included in cost of land and buildings is freehold land of £ 49,500 (2025 - £ 49,500 ) which is not depreciated.

5.

DEBTORS

31.3.26

31.3.25

£

£

Amounts falling due within one year:

Trade debtors

290,117

217,777

Other debtors

158,206

312,321

448,323

530,098

Amounts falling due after more than one year:

Other debtors

17,091

64,760

Aggregate amounts

465,414

594,858

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans and overdrafts

151,181

202,797

Trade creditors

8,030

7,812

Taxation and social security

414,740

365,701

Other creditors

372,609

498,377

946,560

1,074,687

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans

60,121

12,500

8.	LEASING AGREEMENTS

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

31.3.26

31.3.25

£

£

Within one year

117,539

126,310

Between one and five years

255,764

338,237

373,303

464,547

9.	PROVISIONS FOR LIABILITIES

31.3.26

31.3.25

£

£

Deferred tax

9,852

15,656

Deferred

tax

£

Balance at 1 April 2025

15,656

Utilised during year

(5,804

)

Balance at 31 March 2026

9,852

10.	EMPLOYEE BENEFIT OBLIGATIONS

On 1 October 2017, the company accepted responsibility for part of a defined benefit pension scheme. The scheme is closed to new contributions.

The scheme valuation is determined by a qualified actuary on the basis of triennial valuations. The most recent valuation was at 31 March 2021.

The assumptions that have the most significant effect on the results of the valuation are those relating to the rate of return in investments and the rate of increase in salaries and pensions. It was assumed that the investment returns would be 2.05% per year, that there would be no salary increases as the scheme is closed to new members and that present and future pensions would increase at the rate of 3% per year.

During the year the company settled the liability for the defined benefit pension scheme. The liability of £72,486 was paid in May 2025.

The amounts included in the balance sheet arising from the company's obligations in respect of defined benefit plans are as follows:

31.3.26

31.3.25

£

£

Present value of defined benefit obligations

-

394,680

Fair value of plan assets

-

(362,250

)

-

32,430

Movements in the present value of defined benefit obligations:

31.3.26

31.3.25

£

£

Liabilities at 1 April 2025

394,680

878,560

Movements

(394,680

)

(483,880

)

Liabilities at 31 March 2026

-

394,680

The defined benefit obligations arise from plans funded as follows:

31.3.26

31.3.25

£

£

Wholly unfunded obligations

-

-

Wholly or partly funded obligations

-

394,680

-

394,680

Movements in the fair value of plan assets:

31.3.26

31.3.25

£

£

Fair value of assets at 1 April 2025

362,250

820,080

Movements

(362,250

)

(457,830

)

Fair value of assets at 31 March 2026

-

362,250

Fair value of plan assets at the reporting period end:

31.3.26

31.3.25

£

£

Equity instruments

-

362,250

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2026 and 31 March 2025:

31.3.26

31.3.25

£

£

Mrs L Elliott

Balance outstanding at start of year

37,797

40,418

Amounts advanced

63,071

47,379

Amounts repaid

(52,311

)

(50,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

48,557

37,797

Ms A L Newton

Balance outstanding at start of year

13,384

28,674

Amounts advanced

47,970

34,710

Amounts repaid

(50,000

)

(50,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

11,354

13,384

Interest is being charged at the official rate of interest on amounts owed by the directors to the company. Interest paid by the directors on the outstanding balance during the year is £1,659 (31.3.25: £1,338).

12.	RELATED PARTY DISCLOSURES

The aggregate amount owed to the directors at the balance sheet date is £294,925 (31.3.25: £304,028).

13.	ULTIMATE CONTROLLING PARTY

The company is not under the control of any one individual.