Registered number
08354097
GLEAM GLOBAL LTD
Filleted Accounts
31 January 2024
GLEAM GLOBAL LTD
Registered number: 08354097
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,124 1,200
Current assets
Debtors 4 23,096 23,096
Cash at bank and in hand 7,797 4,149
30,893 27,245
Creditors: amounts falling due within one year 5 (5,887) (1,508)
Net current assets 25,006 25,737
Total assets less current liabilities 29,130 26,937
Creditors: amounts falling due after more than one year 6 (14,018) (16,093)
Net assets 15,112 10,844
Capital and reserves
Called up share capital 100 100
Profit and loss account 15,012 10,744
Shareholders' funds 15,112 10,844
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Chander Shekar Reddy Poothi
Director
Approved by the board on 23 October 2024
GLEAM GLOBAL LTD
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 1,500
Additions 4,030
At 31 January 2024 5,530
Depreciation
At 1 February 2023 300
Charge for the year 1,106
At 31 January 2024 1,406
Net book value
At 31 January 2024 4,124
At 31 January 2023 1,200
4 Debtors 2024 2023
£ £
Other debtors 23,096 23,096
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 4,863 1,507
Other creditors 1,024 1
5,887 1,508
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 14,018 16,093
7 Controlling party
There is no ultimate controlling party.
8 Other information
GLEAM GLOBAL LTD is a private company limited by shares and incorporated in England. Its registered office is:
170 Favell Drive
Furzton
Milton Keynes
MK4 1AT
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