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REGISTERED NUMBER: 02860780 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Glanford Electronics Limited

Glanford Electronics Limited (Registered number: 02860780)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Glanford Electronics Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: G D Cowling
Mrs H Glew





SECRETARY: Mrs H Glew





REGISTERED OFFICE: Glanford House
Exmoor Avenue
Skippingdale Business Park
Scunthorpe
North Lincolnshire
DN15 8NJ





REGISTERED NUMBER: 02860780 (England and Wales)

Glanford Electronics Limited (Registered number: 02860780)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 60,845 48,067

CURRENT ASSETS
Stocks 167,614 147,223
Debtors 5 140,438 97,918
Cash at bank and in hand 478,522 481,068
786,574 726,209
CREDITORS
Amounts falling due within one year 6 89,055 98,206
NET CURRENT ASSETS 697,519 628,003
TOTAL ASSETS LESS CURRENT
LIABILITIES

758,364

676,070

PROVISIONS FOR LIABILITIES 13,252 9,156
NET ASSETS 745,112 666,914

CAPITAL AND RESERVES
Called up share capital 6 6
Capital redemption reserve 1 1
Retained earnings 745,105 666,907
SHAREHOLDERS' FUNDS 745,112 666,914

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 April 2024 and were signed on its behalf by:





G D Cowling - Director


Glanford Electronics Limited (Registered number: 02860780)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Glanford Electronics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 37% on reducing balance
Computer equipment - Straight line over 3 years

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

Glanford Electronics Limited (Registered number: 02860780)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 3,818 177,473 28,437 26,197 235,925
Additions - - 21,619 - 21,619
Disposals - - (13,011 ) - (13,011 )
At 31 October 2023 3,818 177,473 37,045 26,197 244,533
DEPRECIATION
At 1 November 2022 3,814 132,568 26,598 24,878 187,858
Charge for year - 6,736 1,013 838 8,587
Eliminated on disposal - - (12,757 ) - (12,757 )
At 31 October 2023 3,814 139,304 14,854 25,716 183,688
NET BOOK VALUE
At 31 October 2023 4 38,169 22,191 481 60,845
At 31 October 2022 4 44,905 1,839 1,319 48,067

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 135,240 93,704
Other debtors 5,198 4,214
140,438 97,918

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 29,810 47,498
Taxation and social security 55,277 47,170
Other creditors 3,968 3,538
89,055 98,206

7. ULTIMATE CONTROLLING PARTY

The company is controlled by the Directors.