Registered Number:SC337082 |
For the year ended 28 February 2024
Scotland
Unaudited Financial Statements
For the year ended 28 February 2024
Gloss Developments Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
Gloss Developments Ltd
Statement of Financial Position
2023
2024
Property, plant and equipment |
31,274
31,897
2
31,274
31,897
34,468
128,000
3
Trade and other receivables |
73,504
94,746
4
169,349
Cash and cash equivalents |
183,992
406,738
277,321
Trade and other payables: amounts falling due within one |
year |
(96,270)
(236,777)
5
181,051
169,961
Net current assets
Total assets less current liabilities |
201,235
212,948
Trade and other payables: amounts falling due after more |
than one year |
(38,082)
(27,546)
6
173,689
Net assets
174,866
2
2
173,687
174,864
173,689
174,866
Shareholders' funds
For the year ended 28 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 of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006 |
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 11 October 2024 and were signed by: |
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For the year ended 28 February 2024
Gloss Developments Ltd
Statement of Financial Position Continued
The notes form part of these financial statements |
2 of 4
For the year ended 28 February 2024
Gloss Developments Ltd
Notes to the Financial Statements
Statutory Information
Gloss Developments Ltd is a private limited company, limited by shares, domiciled in Scotland, registration number |
SC337082. |
28 Orchard Brae Gardens
Edinburgh
EH4 2HJ
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Tools
Computer equipment
Motor vehicles
Fixtures and fittings
2. Property, plant and equipment |
Motor vehicles
Tools
109,492
17,340
5,608
52,377
34,167
9,799
475
-
-
9,324
52,377
5,608
17,815
119,291
43,491
Provision for depreciation and impairment |
77,595
11,281
4,717
39,806
21,791
Charge for year
10,422
1,632
223
3,142
5,425
88,017
12,913
4,940
42,948
27,216
16,275
9,429
668
4,902
31,274
12,376
12,571
891
6,059
31,897
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For the year ended 28 February 2024
Gloss Developments Ltd
Notes to the Financial Statements Continued
2023
2024
128,000
34,468
4. Trade and other receivables |
2023
2024
93,997
73,504
749
-
73,504
94,746
5. Trade and other payables: amounts falling due within one year |
2023
2024
Bank loans and overdraft (secured) |
5,970
-
108,210
19,890
Taxation and social security |
69,817
26,847
52,780
49,533
236,777
96,270
6. Trade and other payables: amounts falling due after more than one year |
2023
2024
27,546
38,082
7. Average number of persons employed |
During the year the average number of employees was 10 (2023 : 8)
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