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Registration number: 08636406

Glotime Tv Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Glotime Tv Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Glotime Tv Limited

Company Information

Director

Ms Jacqueline Dee Anderson

Registered office

Bridge House
Pattenden Lane
Marden
Kent
TN12 9QJ

Accountants

T B Tax Services
Bridge House
Pattenden Lane
Marden
Kent
TN12 9QJ

 

Glotime Tv Limited

(Registration number: 08636406)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Current assets

 

Debtors

4

-

12,000

Creditors: Amounts falling due within one year

5

(35,374)

(74,596)

Total assets less current liabilities

 

(35,374)

(62,596)

Creditors: Amounts falling due after more than one year

5

(102,099)

(89,061)

Net liabilities

 

(137,473)

(151,657)

Capital and reserves

 

Called up share capital

6

200

200

Retained earnings

(137,673)

(151,857)

Shareholders' deficit

 

(137,473)

(151,657)

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 5 September 2022
 

.........................................
Ms Jacqueline Dee Anderson
Director

 

Glotime Tv Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Bridge House
Pattenden Lane
Marden
Kent
TN12 9QJ
England

These financial statements were authorised for issue by the director on 5 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Glotime Tv Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2020 - 1).

4

Debtors

Current

2021
£

2020
£

Trade debtors

-

12,000

 

Glotime Tv Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

5

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

7

8,693

7,697

Trade creditors

 

22,530

20,227

Taxation and social security

 

651

3,225

Accruals and deferred income

 

3,500

43,447

 

35,374

74,596

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

7

102,099

89,061

6

Share capital

7

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Other borrowings

102,099

89,061

2021
£

2020
£

Current loans and borrowings

Bank overdrafts

9,193

8,197

Other borrowings

(500)

(500)

8,693

7,697