Gloworm Solutions Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08640104 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

FOR

GLOWORM SOLUTIONS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

O Wells

Mrs S Wells

REGISTERED OFFICE:

126 Weyhill Road

Andover

Hampshire

SP10 3BE

REGISTERED NUMBER:

08640104 (England and Wales)

ACCOUNTANT:

Richard Kyte Associates

Chartered Certified Accountant

126 Weyhill Road

Andover

Hampshire

SP10 3BE

FIXED ASSETS

Tangible assets

4

1,862

2,142

CURRENT ASSETS

Debtors

5

1,300

4,581

Cash at bank

2,821

-

4,121

4,581

CREDITORS

Amounts falling due within one year

6

4,549

4,156

NET CURRENT (LIABILITIES)/ASSETS

(428

)

425

TOTAL ASSETS LESS CURRENT LIABILITIES

1,434

2,567

PROVISIONS FOR LIABILITIES

7

354

407

NET ASSETS

1,080

2,160

CAPITAL AND RESERVES

Called up share capital

8

10

10

Retained earnings

9

1,070

2,150

SHAREHOLDERS' FUNDS

1,080

2,160

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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 22 March 2022 and were signed on its behalf by:

O Wells - Director

1.	STATUTORY INFORMATION

Gloworm Solutions 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.

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

-

25% on cost

Computer equipment

-

33% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 September 2020

5,252

665

5,917

Additions

476

-

476

At 31 August 2021

5,728

665

6,393

DEPRECIATION

At 1 September 2020

3,111

664

3,775

Charge for year

756

-

756

At 31 August 2021

3,867

664

4,531

NET BOOK VALUE

At 31 August 2021

1,861

1

1,862

At 31 August 2020

2,141

1

2,142

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Trade debtors

1,300

3,626

Other debtors

-

834

Tax

-

121

1,300

4,581

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Bank loans and overdrafts

-

442

Tax

4,141

2,455

Social security and other taxes

120

-

Directors' current accounts

288

1,259

4,549

4,156

7.	PROVISIONS FOR LIABILITIES

31.8.21

31.8.20

£

£

Deferred tax

354

407

Deferred

tax

£

Balance at 1 September 2020

407

Utilised during year

(53

)

Balance at 31 August 2021

354

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.21

31.8.20

value:

£

£

10

Ordinary

10

10

10

9.

RESERVES

Retained

earnings

£

At 1 September 2020

2,150

Profit for the year

17,420

Dividends

(18,500

)

At 31 August 2021

1,070

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £18,500 (2020 - £9,300) were paid to the directors .

The company was under the control of the 2 directors, Mr O. Wells and Mrs S. Wells, who between them own 100% of the company's shares. At the balance sheet date, they were owed a total of £288.