Glen Office Supplies Limited - Accounts to registrar (filleted) - small 18.2

Glen Office Supplies Limited - Accounts to registrar (filleted) - small 18.2

GLEN OFFICE SUPPLIES LIMITED - Company Information

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REGISTERED NUMBER: 05388654 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2018

for

Glen Office Supplies Limited
Glen Office Supplies Limited (Registered number: 05388654)






Contents of the Financial Statements
for the Year Ended 31 December 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glen Office Supplies Limited

Company Information
for the Year Ended 31 December 2018







DIRECTORS: M Glen
J Glen





SECRETARY: M Glen





REGISTERED OFFICE: Unit 3
Faverdale Industrial Estate
Darlington
Co. Durham
DL3 0PP





REGISTERED NUMBER: 05388654 (England and Wales)





ACCOUNTANTS: J P Walters & Co
Chartered Accountants
67 Duke Street
Darlington
Co. Durham
DL3 7SD
Page 1
Glen Office Supplies Limited (Registered number: 05388654)

Balance Sheet
31 December 2018

31.12.18 31.12.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,626 21,228
Investments 5 1 1
16,627 21,229

CURRENT ASSETS
Stocks 31,578 27,117
Debtors 6 127,849 148,058
Cash at bank and in hand 132,343 110,658
291,770 285,833
CREDITORS: AMOUNTS FALLING
DUE WITHIN ONE YEAR
7
131,166
139,824
NET CURRENT ASSETS 160,604 146,009
TOTAL ASSETS LESS CURRENT
LIABILITIES
177,231
167,238

CREDITORS: AMOUNTS FALLING
DUE AFTER MORE THAN ONE YEAR
8
7,151
8,185
NET ASSETS 170,080 159,053

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 170,077 159,050
SHAREHOLDERS' FUNDS 170,080 159,053

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 notes form part of these financial statements

Page 2 continued...
Glen Office Supplies Limited (Registered number: 05388654)

Balance Sheet - continued
31 December 2018


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 27 August 2019 and were signed on its behalf by:




M Glen - Director



J Glen - Director


The notes form part of these financial statements

Page 3
Glen Office Supplies Limited (Registered number: 05388654)

Notes to the Financial Statements
for the Year Ended 31 December 2018

1. STATUTORY INFORMATION

Glen Office Supplies 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 - 25% on reducing balance and 15% on reducing balance

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.

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.

Page 4 continued...
Glen Office Supplies Limited (Registered number: 05388654)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2018

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2017 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2018
and 31 December 2018 38,313
DEPRECIATION
At 1 January 2018 17,085
Charge for year 4,602
At 31 December 2018 21,687
NET BOOK VALUE
At 31 December 2018 16,626
At 31 December 2017 21,228

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2018
and 31 December 2018 1
NET BOOK VALUE
At 31 December 2018 1
At 31 December 2017 1

6. DEBTORS LESS THAN ONE YEAR
31.12.18 31.12.17
£    £   
Trade debtors 121,198 137,980
Other debtors 6,651 10,078
127,849 148,058

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.18 31.12.17
£    £   
Trade creditors 100,482 107,229
Tax 13,633 11,921
Social security and other taxes 2,597 2,314
VAT 10,630 12,403
Accruals 3,824 5,957
131,166 139,824

Page 5 continued...
Glen Office Supplies Limited (Registered number: 05388654)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2018

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.18 31.12.17
£    £   
Directors loan accounts 7,151 8,185

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Directors loan accounts 7,151 8,185

9. ULTIMATE CONTROLLING PARTY

The controlling party is the Directors.

Page 6