REGISTERED NUMBER: SC230901 (Scotland)

Glass Scotland Limited

Unaudited Financial Statements

for the Period 1 May 2025 to 31 March 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K J Peden

Mrs L Peden

REGISTERED OFFICE:

139 Gilmore Place

Edinburgh

EH3 9PP

REGISTERED NUMBER:

SC230901 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

Bank of Scotland

75 George Street

Edinburgh

EH2 3EW

FIXED ASSETS

Intangible assets

4

2,865

3,125

Tangible assets

5

42,874

43,169

45,739

46,294

CURRENT ASSETS

Stocks

95,900

94,801

Debtors

6

91,576

113,002

Cash at bank and in hand

557,986

747,022

745,462

954,825

CREDITORS

Amounts falling due within one year

7

201,960

301,954

NET CURRENT ASSETS

543,502

652,871

TOTAL ASSETS LESS CURRENT LIABILITIES

589,241

699,165

PROVISIONS FOR LIABILITIES

2,876

9,642

NET ASSETS

586,365

689,523

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

586,363

689,521

586,365

689,523

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the period 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 19 October 2026 and were signed on its behalf by:

K J Peden - Director

1.	STATUTORY INFORMATION

Glass Scotland Limited is a private company, limited by shares , registered in Scotland. 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

The turnover is shown in the profit and loss account represents net invoiced sales of Joinery & Glazing services, excluding value added tax. Revenue is recognised when the service has been supplied to the customer.

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.

Personalised number plates is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

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

Short leasehold

-

25% on cost

Plant and machinery etc

-

33% on cost and 25% on cost

Stocks

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

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are repayable on demand.

Taxation

Taxation for the period 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 period 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

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.

Provisions

Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 22 (2025 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 May 2025

and 31 March 2026

5,209

AMORTISATION

At 1 May 2025

2,084

Charge for period

260

At 31 March 2026

2,344

NET BOOK VALUE

At 31 March 2026

2,865

At 30 April 2025

3,125

5.	TANGIBLE FIXED ASSETS

Plant and

Short

machinery

leasehold

etc

Totals

£

£

£

COST

At 1 May 2025

3,021

115,466

118,487

Additions

-

27,979

27,979

Disposals

-

(5,541

)

(5,541

)

At 31 March 2026

3,021

137,904

140,925

DEPRECIATION

At 1 May 2025

3,021

72,297

75,318

Charge for period

-

25,842

25,842

Eliminated on disposal

-

(3,109

)

(3,109

)

At 31 March 2026

3,021

95,030

98,051

NET BOOK VALUE

At 31 March 2026

-

42,874

42,874

At 30 April 2025

-

43,169

43,169

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

84,015

67,914

Other debtors

7,561

45,088

91,576

113,002

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

19,043

81,350

Taxation and social security

58,455

71,007

Other creditors

124,462

149,597

201,960

301,954

8.	LEASING AGREEMENTS

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

2026

2025

£

£

Within one year

13,125

13,125

Between one and five years

6,563

19,688

19,688

32,813

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 March 2026 and the year ended 30 April 2025:

2026

2025

£

£

K J Peden

Balance outstanding at start of period

8,561

162,692

Amounts advanced

12,582

73,622

Amounts repaid

(21,161

)

(227,753

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

(18

)

8,561

Mrs L Peden

Balance outstanding at start of period

-

-

Amounts advanced

7,926

-

Amounts repaid

(8,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

(74

)

-

Interest is charged at 3.75% on overdrawn balances relating to this loan.