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GLIDE DESIGN SERVICES LIMITED - Company Information

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Glide Design Services Limited

Registered Number:NI638827

For the year ended 30 June 2020

Northern Ireland

Unaudited Financial Statements

For the year ended 30 June 2020

Glide Design Services Limited

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

Registered Number :

NI638827

As at 30 June 2020

Glide Design Services Limited

Statement of Financial Position

2019

2020

Notes

Fixed assets

Property, plant and equipment

113,101

51,097

113,101

51,097

Current assets

Trade and other receivables

3,758

85,513

Cash and cash equivalents

91,130

94,888

85,513

Trade and other payables: amounts falling due within one

year

(85,798)

(60,110)

(285)

34,778

Net current assets

Total assets less current liabilities

147,879

50,812

Trade and other payables: amounts falling due after more

than one year

(10,539)

(53,474)

(17,345)

Provisions for liabilities

77,060

Net assets

40,273

Capital and reserves

Called up share capital

Retained earnings

77,059

40,272

77,060

40,273

Shareholders' funds

For the year ended 30 June 2020 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 in accordance with Section 476 of the Companies Act 2006

The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section

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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Mr Stewart Megaw Director

These financial statements were approved and authorised for issue by the Board on 14 June 2021 and were signed by:

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Registered Number :

NI638827

For the year ended 30 June 2020

Glide Design Services Limited

Statement of Financial Position Continued

The notes form part of these financial statements

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For the year ended 30 June 2020

Glide Design Services Limited

Notes to the Financial Statements

Statutory Information

Glide Design Services Limited is a private limited company, limited by shares, domiciled in Northern Ireland,

registration number NI638827.

Registered address:

27 Drumgaw Road

Armagh

BT60 2AD

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the

Companies Act 2006. The financial statements have been prepared under the historical costs convention as

modified by the revaluation of certain assets.

Turnover policy

The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT.

Tangible fixed assets depreciation policy

The cost of tangible fixed assets is their purchase cost, together with any incidental expenses of acquisition.

Depreciation is calculated so as to write off the cost, or valuation of tangible fixed assets, over the expected useful

economic lives of the assets concerned. The principal annual rates used for this purpose are:

Fixtures and Fittings 20% Reducing balance basis

Motor Vehicles 20% Reducing balance basis

Property, plant and equipment

Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

10 Reducing balance

Motor Vehicles

10 Reducing balance

Furniture and Fittings

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.

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For the year ended 30 June 2020

Glide Design Services Limited

Notes to the Financial Statements Continued

2. Property, plant and equipment

Total

Furniture and

Fittings

Motor Vehicles

Land and

Buildings

Cost or

valuation

At 01 July 2019

68,459

9,059

59,400

72,147

50,336

21,811

Additions

At 30 June 2020

21,811

59,400

59,395

140,606

Provision for depreciation and impairment

At 01 July 2019

17,362

1,265

16,097

Charge for year

10,143

5,813

4,330

At 30 June 2020

27,505

7,078

20,427

At 30 June 2020

Net book value

21,811

38,973

52,317

113,101

At 30 June 2019

43,303

7,794

51,097

3. Trade and other receivables

2019

2020

Trade debtors

252

Other debtors

3,506

3,758

4. Trade and other payables: amounts falling due within one year

2019

2020

Amounts owed to group undertaking and undertaking in which the

company has a participating interest

38,125

10,000

Taxation and social security

12,652

30,776

Other creditors

9,333

45,022

60,110

85,798

5. Trade and other payables: amounts falling due after more than one year

2019

2020

Bank loans and overdraft

50,000

Other creditors

3,474

10,539

53,474

10,539

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For the year ended 30 June 2020

Glide Design Services Limited

Notes to the Financial Statements Continued

6. Average number of persons employed

During the year the average number of employees was 1 (2019 : 1)

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