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Registered Number: 12058899
England and Wales

 

 

 

GLAM AND GRACE LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 July 2022

End date: 30 June 2023
  2023   2022
    £ £   £ £
Fixed assets   6,892      14,323 
Current assets 49,900      52,338   
Creditors: amount falling due within one year (56,637)     (65,660)  
Net current liabilities   (6,737)     (13,322)
Total assets less current liabilities   155      1,001 
Net assets   155      1,001 
 

         
Capital and reserves   155      1,001 
 
NOTES TO THE ACCOUNTS

General Information
Glam and Grace Limited is a private company, limited by shares, registered in England and Wales, registration number 12058899, registration address 9 Stubbington Green, Fareham, Hampshire, PO14 2JG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
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:
Computer Equipment, Furniture and Fixtures 4
Stocks
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.
2.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 July 2022 28,289    3,441    31,730 
Additions 328      328 
Disposals   (1,019)   (1,019)
At 30 June 2023 28,617    2,422    31,039 
Depreciation
At 01 July 2022 15,008    1,380    16,388 
Charge for year 7,154    605    7,759 
On disposals    
At 30 June 2023 22,162    1,985    24,147 
Net book values
Closing balance as at 30 June 2023 6,455    437    6,892 
Opening balance as at 01 July 2022 13,281    1,042    14,323 


3.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).


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.

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.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts.
The financial statements were approved by the director on 11 March 2024 and were signed by:


--------------------------------
Robeena Bryan
Director
1