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The Glove Store Ltd
Registered Number:06531113
For the year ended 31 March 2023
England and Wales
Unaudited Financial Statements
2
Registered Number :
06531113
As at 31 March 2023
The Glove Store Ltd
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
4,265
5,500
2
4,265
5,500
Current assets
Inventories
42,525
27,757
3
Trade and other receivables
15,458
17,274
4
71,271
Cash and cash equivalents
39,192
84,223
129,254
Trade and other payables: amounts falling due within one
year
(36,934)
(15,389)
5
92,320
68,834
Net current assets
Total assets less current liabilities
73,099
97,820
73,099
Net assets
97,820
Capital and reserves
Called up share capital
30,000
30,000
Retained earnings
43,099
67,820
73,099
97,820
Shareholders' funds
For the year ended 31 March 2023 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 31 March 2023 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their 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 David John Horrocks Director
These financial statements were approved and authorised for issue by the Board on 03 October 2023 and were signed by:
The notes form part of these financial statements
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3
For the year ended 31 March 2023
The Glove Store Ltd
Notes to the Financial Statements
Statutory Information
The Glove Store Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 06531113.
Principal place of business:
3B Colyton Business Park
The Wheeler's Yard
Colyton
Devon
EX24 6DT
Registered address:
48 The Causeway
Chippenham
Wiltshire
SN15 3DD
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.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, 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:
Plant and machinery
25% Straight line
25% Straight line
Computer equipment
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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4
For the year ended 31 March 2023
The Glove Store Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
equipment
Plant and
machinery
£
£
£
Cost or
valuation
At 01 April 2022
22,072
20,443
1,629
187
187
-
Additions
At 31 March 2023
1,629
20,630
22,259
Provision for depreciation and impairment
At 01 April 2022
16,572
15,894
678
Charge for year
1,422
1,184
238
At 31 March 2023
17,994
17,078
916
At 31 March 2023
Net book value
713
3,552
4,265
At 31 March 2022
951
4,549
5,500
3. Inventories
2022
2023
£
£
Stocks
27,757
42,525
4. Trade and other receivables
2022
2023
£
£
Trade debtors
1,624
2,308
Other debtors
15,650
13,150
15,458
17,274
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
4,688
11,941
Taxation and social security
10,636
24,952
Other creditors
65
41
15,389
36,934
6. Average number of persons employed
During the year the average number of employees was 3 (2022 : 3)
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5
For the year ended 31 March 2023
The Glove Store Ltd
Notes to the Financial Statements Continued
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