Company Registration No. 13384306 (England and Wales)
GLITTERGLAM PROPERTIES LTD
Unaudited accounts
for the year ended 31 March 2024
GLITTERGLAM PROPERTIES LTD
Unaudited accounts
Contents
GLITTERGLAM PROPERTIES LTD
Company Information
for the year ended 31 March 2024
Directors
Mr Paolino Mario Nola
Mrs Anna Nola
Company Number
13384306 (England and Wales)
Registered Office
34 Cannonbury Ave
Pinner
Middx
HA5 1TS
UK
Accountants
Fielding Accountancy Services Ltd
48 Beechcroft Road
Bushey
Herts
WD23 2JU
GLITTERGLAM PROPERTIES LTD
Statement of financial position
as at 31 March 2024
Investment property
451,754
451,754
Cash at bank and in hand
2,317
1,403
Creditors: amounts falling due within one year
(121,208)
(132,236)
Net current liabilities
(118,891)
(130,833)
Total assets less current liabilities
333,171
321,305
Creditors: amounts falling due after more than one year
(322,856)
(322,856)
Net assets/(liabilities)
10,315
(1,551)
Called up share capital
100
100
Profit and loss account
10,215
(1,651)
Shareholders' funds
10,315
(1,551)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 August 2024 and were signed on its behalf by
Mr Paolino Mario Nola
Director
Company Registration No. 13384306
GLITTERGLAM PROPERTIES LTD
Notes to the Accounts
for the year ended 31 March 2024
GLITTERGLAM PROPERTIES LTD is a private company, limited by shares, registered in England and Wales, registration number 13384306. The registered office is 34 Cannonbury Ave, Pinner, Middx, HA5 1TS, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. 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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover comprises Rental Income from Investment Properties
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Investment properties are shown at cost or most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities(effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the directors opinion, compliance with the standard is necessary for
the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Investment properties were valued on an open market basis on 31st March 2022 by the directors, being at cost value.
The company accounts for property acquisitions on exchange of contract.
GLITTERGLAM PROPERTIES LTD
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2023
300
300
600
At 31 March 2024
300
300
600
At 1 April 2023
108
108
216
Charge for the year
38
38
76
At 31 March 2024
146
146
292
At 31 March 2024
154
154
308
At 31 March 2023
192
192
384
Fair value at 1 April 2023
451,754
Three company investment properties were acquired during 2022 and are shown at their original cost.
The Director considers that this remains the current market value and as such no revaluation is considered necessary at this time.
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
2,380
-
Loans from directors
117,988
131,268
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
322,856
322,856
Long Term Creditors comprise property Mortgage Loans on an Interest Only Basis hence all such loans are shown as Long Term Liabilities over 5 years.
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
GLITTERGLAM PROPERTIES LTD
Notes to the Accounts
for the year ended 31 March 2024
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).