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REGISTERED NUMBER: 08916565 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Glass Digital Limited

Glass Digital Limited (Registered number: 08916565)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glass Digital Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: B Gallagher
J C R Birch
S W Close
M S Swann
C W Hall





REGISTERED OFFICE: Studio 1 & 2 First Floor
High Bridge Works
39 High Bridge
Newcastle upon Tyne
NE1 1EW





REGISTERED NUMBER: 08916565 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

Glass Digital Limited (Registered number: 08916565)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,720 5,482
Investments 5 1 1
3,721 5,483

CURRENT ASSETS
Debtors 6 121,488 335,199
Cash at bank 56,363 60,657
177,851 395,856
CREDITORS
Amounts falling due within one year 7 221,291 263,666
NET CURRENT (LIABILITIES)/ASSETS (43,440 ) 132,190
TOTAL ASSETS LESS CURRENT
LIABILITIES

(39,719

)

137,673

CREDITORS
Amounts falling due after more than one
year

8

(77,464

)

(131,988

)

PROVISIONS FOR LIABILITIES 11 - (744 )
NET (LIABILITIES)/ASSETS (117,183 ) 4,941

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings (117,283 ) 4,841
SHAREHOLDERS' FUNDS (117,183 ) 4,941

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Glass Digital Limited (Registered number: 08916565)

Balance Sheet - continued
31 December 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2024 and were signed on its behalf by:





B Gallagher - Director


Glass Digital Limited (Registered number: 08916565)

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

1. STATUTORY INFORMATION

Glass Digital 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 the provisions of Section 1A "Small Entities" 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 cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Going concern
The directors assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date the financial statements are approved.

The financial statements are prepared on the going concern basis which assumes that the company will continue to trade. If the company is unable to continue to trade, adjustments would be required to reduce the value of assets to their recoverable amounts, to provide for any further liabilities that might arise and to analyse long term liabilities as current liabilities.

Preparation of consolidated financial statements
The financial statements contain information about Glass Digital Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group or those concluded at market rate.

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

Income Recognition
Income from contracts for the provision of professional services is recognised as the service is provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Glass Digital Limited (Registered number: 08916565)

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

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 year was 24 (2022 - 31 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023 50,055
Additions 2,156
At 31 December 2023 52,211
DEPRECIATION
At 1 January 2023 44,573
Charge for year 3,918
At 31 December 2023 48,491
NET BOOK VALUE
At 31 December 2023 3,720
At 31 December 2022 5,482

Glass Digital Limited (Registered number: 08916565)

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

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 121,332 166,383
Other debtors 31 156,310
Prepayments and accrued income 125 12,506
121,488 335,199

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 64,929 100,690
Trade creditors 21,135 10,401
Amounts owed to group undertakings 24,395 4,395
Taxation and social security 69,628 107,926
Other creditors 6,140 6,971
Directors' current accounts 8,834 22,385
Accruals and deferred income 26,230 10,898
221,291 263,666

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2years 54,357 53,223
Bank loans - 2-5 years 23,107 78,765
77,464 131,988

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 30,360 15,144
Between one and five years 15,180 -
45,540 15,144

Glass Digital Limited (Registered number: 08916565)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan 46,138 64,076
CBILs loan 85,682 121,136
131,820 185,212

The bank and CBILs loans are secured via fixed and floating charges over all the property or undertakings of the company.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax - 744

Deferred
tax
£   
Balance at 1 January 2023 744
Accelerated capital allowances (744 )
Balance at 31 December 2023 -

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:
Nominal
value:
2023
£

2022
£
60 Ordinary £1 60 60
10 'A' Ordinary £1 10 10
10 'B' Ordinary £1 10 10
10 'C' Ordinary £1 10 10
10 'D' Ordinary £1 10 10

100 100

13. RELATED PARTY DISCLOSURES

There were no related party transactions other than those concluded under normal market conditions, except for those shown below.

2023 2022
£ £

Amounts due to director 8,834 22,385
No interest has been charged.