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Glide Design Services Limited
Registered Number:NI638827
For the year ended 30 June 2023
Northern Ireland
Unaudited Financial Statements
2
For the year ended 30 June 2023
Glide Design Services Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
NI638827
As at 30 June 2023
Glide Design Services Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
433,367
280,211
2
433,367
280,211
Current assets
Trade and other receivables
58,598
61,821
3
75,216
Cash and cash equivalents
38,534
100,355
133,814
Trade and other payables: amounts falling due within one
year
(151,646)
(171,915)
4
(17,832)
(71,560)
Net current liabilities
Total assets less current liabilities
361,807
262,379
Trade and other payables: amounts falling due after more
than one year
(28,963)
(19,039)
5
(44,879)
(48,574)
Provisions for liabilities
297,889
Net assets
184,842
Capital and reserves
Called up share capital
1
1
Retained earnings
297,888
184,841
297,889
184,842
Shareholders' funds
For the year ended 30 June 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 30 June 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his 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 Stewart Megaw Director
These financial statements were approved and authorised for issue by the Board on 08 March 2024 and were signed by:
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4
Registered Number :
NI638827
For the year ended 30 June 2023
Glide Design Services Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 30 June 2023
Glide Design Services Limited
Notes to the Financial Statements
Statutory Information
Glide Design Services Limited is a private limited company, limited by shares, domiciled in Northern Ireland,
registration number NI638827.
Registered address:
27 Drumgaw Road
Armagh
BT60 2AD
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.
Turnover policy
The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of VAT.
Tangible fixed assets depreciation policy
The cost of tangible fixed assets is their purchase cost, together with any incidental expenses of acquisition.
Depreciation is calculated so as to write off the cost, or valuation of tangible fixed assets, over the expected useful
economic lives of the assets concerned. The principal annual rates used for this purpose are:
Fixtures and Fittings 20% Reducing balance basis
Motor Vehicles 20% Reducing balance basis
Property, plant and equipment
Property, plant and equipment, 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:
10 Reducing balance
Motor Vehicles
10 Reducing balance
Furniture and Fittings
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
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6
For the year ended 30 June 2023
Glide Design Services Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Furniture and
Fittings
Motor Vehicles
Land and
Buildings
£
£
£
£
Cost or
valuation
At 01 July 2022
318,095
135,078
45,400
137,617
179,566
59,507
62,000
58,059
Additions
At 30 June 2023
195,676
107,400
194,585
497,661
Provision for depreciation and impairment
At 01 July 2022
37,884
29,258
8,626
-
Charge for year
26,410
16,533
9,877
-
At 30 June 2023
64,294
45,791
18,503
-
At 30 June 2023
Net book value
195,676
88,897
148,794
433,367
At 30 June 2022
137,617
36,774
105,820
280,211
3. Trade and other receivables
2022
2023
£
£
Trade debtors
61,821
58,598
4. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft
10,648
10,648
Amounts owed to group undertaking and undertaking in which the
company has a participating interest
94,625
94,625
Taxation and social security
41,258
39,045
Other creditors
25,384
7,328
171,915
151,646
5. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Bank loans and overdraft
19,039
28,963
6. Average number of persons employed
During the year the average number of employees was 1 (2022 : 1)
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7
For the year ended 30 June 2023
Glide Design Services Limited
Notes to the Financial Statements Continued
5 of 5