Gloworm Solutions Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08640104 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

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

481

1,077

CURRENT ASSETS

Debtors

5

4,174

1,882

Cash at bank

7,865

3,360

12,039

5,242

CREDITORS

Amounts falling due within one year

6

8,970

5,418

NET CURRENT ASSETS/(LIABILITIES)

3,069

(176

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,550

901

PROVISIONS FOR LIABILITIES

7

91

205

NET ASSETS

3,459

696

CAPITAL AND RESERVES

Called up share capital

8

10

10

Retained earnings

9

3,449

686

SHAREHOLDERS' FUNDS

3,459

696

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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 18 April 2024 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 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 September 2022

and 31 August 2023

5,728

665

6,393

DEPRECIATION

At 1 September 2022

4,652

664

5,316

Charge for year

596

-

596

At 31 August 2023

5,248

664

5,912

NET BOOK VALUE

At 31 August 2023

480

1

481

At 31 August 2022

1,076

1

1,077

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.23

31.8.22

£

£

Trade debtors

4,174

1,882

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.23

31.8.22

£

£

Trade creditors

803

-

Tax

5,315

5,061

Directors' current accounts

757

357

Accrued expenses

2,095

-

8,970

5,418

7.	PROVISIONS FOR LIABILITIES

31.8.23

31.8.22

£

£

Deferred tax

91

205

Deferred

tax

£

Balance at 1 September 2022

205

Utilised during year

(114

)

Balance at 31 August 2023

91

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.23

31.8.22

value:

£

£

10

Ordinary

10

10

10

9.

RESERVES

Retained

earnings

£

At 1 September 2022

686

Profit for the year

22,003

Dividends

(19,240

)

At 31 August 2023

3,449

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £19,240 (2022 - £21,300) 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 £757.