Company Registration No. 10618872 (England and Wales)
GLOWORKS PUBLISHING LIMITED
Unaudited accounts
for the year ended 29 February 2024
GLOWORKS PUBLISHING LIMITED
Unaudited accounts
Contents
GLOWORKS PUBLISHING LIMITED
Statement of financial position
as at 29 February 2024
Creditors: amounts falling due within one year
(51,009)
(35,160)
Net current liabilities
(51,008)
(35,159)
Net liabilities
(51,008)
(35,159)
Called up share capital
1
1
Profit and loss account
(51,009)
(35,160)
Shareholders' funds
(51,008)
(35,159)
For the year ending 29 February 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 7 November 2024 and were signed on its behalf by
M J Smith
Director
Company Registration No. 10618872
GLOWORKS PUBLISHING LIMITED
Notes to the Accounts
for the year ended 29 February 2024
GLOWORKS PUBLISHING LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10618872. The registered office is Roundhouse, 212 Regents Park Road, London, London, NW1 8AW, England.
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 financial statements have been prepared under the historical cost convention unless otherwise specificed within these accounting policies and in accordance with FRS 102 Section 1A - Small Entities.
Turnover and other revenue is recognised at fair value of the consideration received or receivable. Furthermore, revenue is recognised when it is probable that economic benefits will flow to the company and the amount of the revenue can be reliably measured.
Royalty income is recognised on a notified earnings basis. Credit is taken for royalty income, arising from the music publishing, record production and related activities, which has been received or declared by users by the period end.
These financial statements are presented in pounds sterling as this is the functional currency of the company.
Debtors and creditors falling due within one year
Debtors and creditors falling due within one year are recognised at undiscounted transaction price. Debtors are reviewed for impairment at the end of the financial year and any impairments are recognised in the profit and loss account.
The financial statements have been prepared on the assumption that the company is able to carry on business as a going concern. The directors are confident that Bucks Music Group Limited, a major shareholder and creditor, will continue to financially support the company for the foreseeable future. At 29 February 2024 Bucks Music Group Limited was owed £49,844 (2023: £34,031).
Deferred tax represents future tax consequences of transactions recognised in the current or past financial years. Deferred tax is recognised in respect of all timing differences except that deferred tax assets are only recognised to the extent that it is probable that they will be recoverable against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted by the balance sheet date that are expected to apply to the reversal of timing differences.
Amounts falling due within one year
GLOWORKS PUBLISHING LIMITED
Notes to the Accounts
for the year ended 29 February 2024
5
Creditors: amounts falling due within one year
2024
2023
Other creditors
49,844
34,031
6
Average number of employees
During the year the average number of employees was 0 (2023: 0).