Glam Property Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09840126 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2018

FOR

GLAM PROPERTY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A McCaffrey

M Bedford

SECRETARY:

REGISTERED OFFICE:

32a East Street

St. Ives

Cambs

PE27 5PD

REGISTERED NUMBER:

09840126 (England and Wales)

ACCOUNTANTS:

Tacconi Green and Co

Accountants

32a East Street

St. Ives

Cambs

PE27 5PD

CURRENT ASSETS

Stocks

573,102

277,141

Debtors

3

16,074

1,966

Cash at bank

3,054

151,143

592,230

430,250

CREDITORS

Amounts falling due within one year

4

76,780

81,519

NET CURRENT ASSETS

515,450

348,731

TOTAL ASSETS LESS CURRENT LIABILITIES

515,450

348,731

CREDITORS

Amounts falling due after more than one year

5

470,000

300,000

NET ASSETS

45,450

48,731

RESERVES

Retained earnings

45,450

48,731

45,450

48,731

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 21st May 2019 and were signed on its behalf by:

A McCaffrey - Director

1.	STATUTORY INFORMATION

Glam Property Ltd 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.

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.

Any timing differences are considered immaterial and therefore no provision has been made.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

15,283

-

Corporation tax recoverable

791

-

Prepayments

-

1,966

16,074

1,966

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation

-

11,739

Inter-company balance

76,300

69,300

Accrued expenses

480

480

76,780

81,519

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other loan

470,000

300,000