GLOWORKS PUBLISHING LIMITED

Company Registration Number:
10618872 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2023

Period of accounts

Start date: 1 March 2022

End date: 28 February 2023

GLOWORKS PUBLISHING LIMITED

Contents of the Financial Statements

for the Period Ended 28 February 2023

Balance sheet
Additional notes
Balance sheet notes

GLOWORKS PUBLISHING LIMITED

Balance sheet

As at 28 February 2023

Notes 2023 2022


£

£
Current assets
Debtors: 3 1 1
Total current assets: 1 1
Creditors: amounts falling due within one year: 4 ( 35,160 ) ( 23,675 )
Net current assets (liabilities): (35,159) (23,674)
Total assets less current liabilities: (35,159) ( 23,674)
Total net assets (liabilities): (35,159) (23,674)
Capital and reserves
Called up share capital: 1 1
Profit and loss account: (35,160 ) (23,675 )
Total Shareholders' funds: ( 35,159 ) (23,674)

The notes form part of these financial statements

GLOWORKS PUBLISHING LIMITED

Balance sheet statements

For the year ending 28 February 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 17 November 2023
and signed on behalf of the board by:

Name: M J SMITH
Status: Director

The notes form part of these financial statements

GLOWORKS PUBLISHING LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover and other revenue is recognised at fair value of the consideration received or receivable. Furthermore, revenue is recognised when it is probable that economic benefits will flow to the company and the amount of the revenue can be reliably measured. Royalty income is recognised on a notified earnings basis. Credit is taken for royalty income, arising from the music publishing, record production and related activities, which has been received or declared by users by the period end.

    Other accounting policies

    Going concernThe financial statements have been prepared on the assumption that the company is able to carry on business as a going concern. The directors are confident that Bucks Music Group Limited, a major shareholder and creditor, will continue to financially support the company for the foreseeable future.Presentation currencyThese financial statements are presented in pounds sterling as this is the functional currency of the company.Debtors and creditors falling due within one yearDebtors and creditors falling due within one year are recognised at undiscounted transaction price. Debtors are reviewed for impairment at the end of the financial year and any impairments are recognised in the profit and loss account. TaxationTaxation comprises current taxation and deferred tax.Current tax represents the amount of tax payable in respect of taxable profit for the current or past financial years. The company’s liability to current tax is measured using tax rates that have been enacted by the balance sheet date.Deferred tax represents future tax consequences of transactions recognised in the current or past financial years. Deferred tax is recognised in respect of all timing differences except that deferred tax assets are only recognised to the extent that it is probable that they will be recoverable against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

GLOWORKS PUBLISHING LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

GLOWORKS PUBLISHING LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

3. Debtors

2023 2022
£ £
Other debtors 1 1
Total 1 1

GLOWORKS PUBLISHING LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Other creditors 35,160 23,675
Total 35,160 23,675

Other creditors include £34,031 (2022: £22,618) due to Bucks Music Group Limited, a shareholder in the company.