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REGISTERED NUMBER: 01601435 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 December 2023

for

GLEVUM FINANCIAL SERVICES LIMITED

GLEVUM FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 01601435)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GLEVUM FINANCIAL SERVICES LIMITED

Company Information
for the year ended 31 December 2023







DIRECTORS: C A Lutton
Mrs C R Lutton





SECRETARY: Mrs C R Lutton





REGISTERED OFFICE: c/o MGB Accountants - Suite 22
Trym Lodge, 1 Henbury Road
Westbury-on-Trym
Bristol
BS9 3HQ





REGISTERED NUMBER: 01601435 (England and Wales)





ACCOUNTANTS: Mitchell Glanville (Bristol) Limited
c/o MGB Accountants - Suite 22
Trym Lodge, 1 Henbury Road
Westbury-on-Trym
Bristol
BS9 3HQ

GLEVUM FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 01601435)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 306,018 305,860
Investments 5 50 50
306,068 305,910

CURRENT ASSETS
Debtors 6 93,069 68,159
Cash at bank 510,292 578,336
603,361 646,495
CREDITORS
Amounts falling due within one year 7 413,726 411,056
NET CURRENT ASSETS 189,635 235,439
TOTAL ASSETS LESS CURRENT
LIABILITIES

495,703

541,349

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 495,603 541,249
SHAREHOLDERS' FUNDS 495,703 541,349

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:





C A Lutton - Director


GLEVUM FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 01601435)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Glevum Financial Services 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

No depreciation is provided on freehold land and property as the directors consider the market value to be at least equal to the cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

GLEVUM FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 01601435)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 197,421 58,438 1,342
Additions - 818 -
Disposals - - -
At 31 December 2023 197,421 59,256 1,342
DEPRECIATION
At 1 January 2023 - 56,456 560
Charge for year - 701 196
Eliminated on disposal - - -
At 31 December 2023 - 57,157 756
NET BOOK VALUE
At 31 December 2023 197,421 2,099 586
At 31 December 2022 197,421 1,982 782

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 490,505 13,854 761,560
Additions 52,320 666 53,804
Disposals (80,624 ) - (80,624 )
At 31 December 2023 462,201 14,520 734,740
DEPRECIATION
At 1 January 2023 388,468 10,216 455,700
Charge for year 34,173 911 35,981
Eliminated on disposal (62,959 ) - (62,959 )
At 31 December 2023 359,682 11,127 428,722
NET BOOK VALUE
At 31 December 2023 102,519 3,393 306,018
At 31 December 2022 102,037 3,638 305,860

GLEVUM FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 01601435)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 388,468
Disposals (34,331 )
At 31 December 2023 354,137
DEPRECIATION
At 1 January 2023 331,144
Charge for year 11,459
Eliminated on disposal (22,845 )
At 31 December 2023 319,758
NET BOOK VALUE
At 31 December 2023 34,379
At 31 December 2022 57,324

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 50
NET BOOK VALUE
At 31 December 2023 50
At 31 December 2022 50

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,970 2,770
Other debtors 89,099 65,389
93,069 68,159

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,186 -
Trade creditors 8,917 28,477
Taxation and social security - 5,387
Other creditors 394,623 377,192
413,726 411,056

8. RELATED PARTY DISCLOSURES

Included within turnover is £11,700 (2022: 6,865) charged to Laser Alarms Limited (a company controlled by C A Lutton) for rent. The company also charged £11,700 (2022: £12,600) to Laser Alarms Limited for management fees and £41,600 (2022: £40,800) for vehicle leasing costs.

GLEVUM FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 01601435)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

9. ULTIMATE CONTROLLING PARTY

The company is controlled by C A Lutton and Mrs C R Lutton.