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REGISTERED NUMBER: SC408395 (Scotland)















Unaudited Financial Statements

for the Period 1 October 2022 to 31 December 2023

for

Glocast Ltd

Glocast Ltd (Registered number: SC408395)






Contents of the Financial Statements
for the Period 1 October 2022 to 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Glocast Ltd

Company Information
for the Period 1 October 2022 to 31 December 2023







DIRECTOR: A S Moffat





REGISTERED OFFICE: 19 Windsor Place
Edinburgh
EH15 2AJ





REGISTERED NUMBER: SC408395 (Scotland)





ACCOUNTANTS: One Accounting Ltd
Chartered Management Accountants
Drumsheugh Toll
2 Belford Road
Edinburgh
Midlothian
EH4 3BL

Glocast Ltd (Registered number: SC408395)

Statement of Financial Position
31 December 2023

31.12.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 132,749 190,651

CURRENT ASSETS
Debtors 5 181,584 262,709
Cash at bank 62,311 27,591
243,895 290,300
CREDITORS
Amounts falling due within one year 6 233,352 125,317
NET CURRENT ASSETS 10,543 164,983
TOTAL ASSETS LESS CURRENT
LIABILITIES

143,292

355,634

CREDITORS
Amounts falling due after more than one
year

7

(118,560

)

(204,956

)

PROVISIONS FOR LIABILITIES (21,131 ) (31,402 )
NET ASSETS 3,601 119,276

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 3,598 119,273
SHAREHOLDERS' FUNDS 3,601 119,276

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

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

The director acknowledges his 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 director and authorised for issue on 27 August 2024 and were signed by:





A S Moffat - Director


Glocast Ltd (Registered number: SC408395)

Notes to the Financial Statements
for the Period 1 October 2022 to 31 December 2023

1. STATUTORY INFORMATION

Glocast Ltd is a private company, limited by shares , registered in Scotland. 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
Plant and machinery - 33% on cost and 20% on cost
Fixtures and fittings - 20% on cost
Computer equipments - 33% on cost and 20% on cost

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Debt instruments, including loans and other accounts receivable and payable are initially measured at transaction price adjusted for transaction costs. They are subsequently recognised at amortised costs using the effective interest method.

Creditors payable within one year, typically trade payables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid.

Debtors payable within one year, typically trade receivables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be received.

Taxation
Taxation for the period 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Glocast Ltd (Registered number: SC408395)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 period was 9 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipments Totals
£    £    £    £    £   
COST
At 1 October 2022 30,736 204,137 20,182 183,660 438,715
Additions - 1,650 - 21,321 22,971
At 31 December 2023 30,736 205,787 20,182 204,981 461,686
DEPRECIATION
At 1 October 2022 5,358 155,934 5,859 80,913 248,064
Charge for period 3,842 27,295 5,046 44,690 80,873
At 31 December 2023 9,200 183,229 10,905 125,603 328,937
NET BOOK VALUE
At 31 December 2023 21,536 22,558 9,277 79,378 132,749
At 30 September 2022 25,378 48,203 14,323 102,747 190,651

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 30.9.22
£    £   
Trade debtors 54,494 171,463
Other debtors 18,989 6,688
Directors' loan accounts 108,101 84,558
181,584 262,709

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 30.9.22
£    £   
Bank loans and overdrafts (see note 8) 35,625 33,004
Other loans (see note 8) 99,850 23,612
Trade creditors 25,215 28,063
Social security and other taxes 6,109 6,101
VAT 36,529 21,110
Other creditors 26,052 8,515
Accrued expenses 3,972 4,912
233,352 125,317

Glocast Ltd (Registered number: SC408395)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 30.9.22
£    £   
Bank loans (see note 8) 22,374 66,568
Other loans (see note 8) 96,186 138,388
118,560 204,956

8. LOANS

An analysis of the maturity of loans is given below:

31.12.23 30.9.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 35,625 33,004
Other loans 99,850 23,612
135,475 56,616

Amounts falling due between one and two years:
Bank loans - 1-2 years 17,709 51,902
Other loans - 1-2 years 36,512 33,465
54,221 85,367

Amounts falling due between two and five years:
Bank loans - 2-5 years 4,665 14,666
Other loans - 2-5 years 59,674 104,923
64,339 119,589

This loan is secured by the assets of the Company.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 December 2023 and the year ended 30 September 2022:

31.12.23 30.9.22
£    £   
A S Moffat
Balance outstanding at start of period 84,558 (231 )
Amounts advanced 248,199 283,680
Amounts repaid (224,656 ) (198,891 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 108,101 84,558

The Director's loan is repayable on demand. Interest is charged throughout the year at a rate of 2% on balances exceeding £10,000.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £38,000 (2022 - £89,000) were paid to the director.