Registered number
09092020
Glow Cloud Limited
Filleted Accounts
30 June 2023
Glow Cloud Limited
Registered number: 09092020
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 742 927
Current assets
Debtors 4 13,260 -
Cash at bank and in hand 406,651 409,167
419,911 409,167
Creditors: amounts falling due within one year 5 (24,206) (27,688)
Net current assets 395,705 381,479
Net assets 396,447 382,406
Capital and reserves
Called up share capital 100 100
Profit and loss account 396,347 382,306
Shareholder's funds 396,447 382,406
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms Nadia Hussain
Director
Approved by the board on 5 March 2024
Glow Cloud Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered 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 or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022 2,110
At 30 June 2023 2,110
Depreciation
At 1 July 2022 1,183
Charge for the year 185
At 30 June 2023 1,368
Net book value
At 30 June 2023 742
At 30 June 2022 927
4 Debtors 2023 2022
£ £
Other debtors 13,260 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 22,035 25,456
Director's account 171 232
Other creditors 2,000 2,000
24,206 27,688
6 Other information
Glow Cloud Limited is a private company limited by shares and incorporated in England. Its registered office is:
Laxmi House
2-B Draycott Avenue
Kenton, Harrow
Middlesex
HA3 0BU
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