2023-03-01 SC337082 2024-02-28 SC337082 2023-03-01 2024-02-28 SC337082 2023-02-28 SC337082 2022-03-01 2023-02-28 SC337082 uk-core:WithinOneYear 2023-02-28 SC337082 uk-core:WithinOneYear 2024-02-28 SC337082 uk-core:AfterOneYear 2023-02-28 SC337082 uk-core:AfterOneYear 2024-02-28 SC337082 uk-core:ShareCapital 2024-02-28 SC337082 uk-core:ShareCapital 2023-02-28 SC337082 uk-core:RetainedEarningsAccumulatedLosses 2024-02-28 SC337082 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 SC337082 uk-bus:Director1 2023-03-01 2024-02-28 SC337082 uk-core:ToolsEquipment 2023-03-01 2024-02-28 SC337082 uk-core:ComputerEquipment 2023-03-01 2024-02-28 SC337082 uk-core:MotorCars 2023-03-01 2024-02-28 SC337082 uk-core:FurnitureFittings 2023-03-01 2024-02-28 SC337082 uk-core:ComputerEquipment 2023-02-28 SC337082 uk-core:FurnitureFittings 2023-02-28 SC337082 uk-core:MotorCars 2023-02-28 SC337082 uk-core:ToolsEquipment 2023-02-28 SC337082 uk-core:MotorCars 2024-02-28 SC337082 uk-core:FurnitureFittings 2024-02-28 SC337082 uk-core:ComputerEquipment 2024-02-28 SC337082 uk-core:ToolsEquipment 2024-02-28 SC337082 uk-core:WithinOneYear uk-core:Secured 2024-02-28 SC337082 uk-core:WithinOneYear uk-core:Secured 2023-02-28 SC337082 uk-core:AfterOneYear uk-core:Secured 2024-02-28 SC337082 uk-core:AfterOneYear uk-core:Secured 2023-02-28 iso4217:GBP xbrli:pure SC337082 uk-bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-28 SC337082 uk-bus:FRS102 2023-03-01 2024-02-28 SC337082 uk-bus:FilletedAccounts 2023-03-01 2024-02-28 SC337082 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28
Gloss Developments Ltd
Registered Number:SC337082
For the year ended 28 February 2024
Scotland
Unaudited Financial Statements
2
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
3
Registered Number :
SC337082
As at 28 February 2024
Gloss Developments Ltd
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
31,274
31,897
2
31,274
31,897
Current assets
Inventories
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
Capital and reserves
Called up share capital
2
2
Retained earnings
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.
Paul Rogers Director
These financial statements were approved and authorised for issue by the Board on 11 October 2024 and were signed by:
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4
Registered Number :
SC337082
For the year ended 28 February 2024
Gloss Developments Ltd
Statement of Financial Position Continued
The notes form part of these financial statements
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5
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.
Registered address:
28 Orchard Brae Gardens
Edinburgh
EH4 2HJ
The presentation currency is £ sterling.
1. Accounting policies
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
25% Reducing balance
25% Reducing balance
Computer equipment
25% Reducing balance
Motor vehicles
25% Reducing balance
Fixtures and fittings
2. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
Motor vehicles
Tools
£
£
£
£
£
Cost or
valuation
At 01 March 2023
109,492
17,340
5,608
52,377
34,167
9,799
475
-
-
9,324
Additions
At 28 February 2024
52,377
5,608
17,815
119,291
43,491
Provision for depreciation and impairment
At 01 March 2023
77,595
11,281
4,717
39,806
21,791
Charge for year
10,422
1,632
223
3,142
5,425
At 28 February 2024
88,017
12,913
4,940
42,948
27,216
At 28 February 2024
Net book value
16,275
9,429
668
4,902
31,274
At 28 February 2023
12,376
12,571
891
6,059
31,897
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6
For the year ended 28 February 2024
Gloss Developments Ltd
Notes to the Financial Statements Continued
3. Inventories
2023
2024
£
£
Stocks
128,000
34,468
4. Trade and other receivables
2023
2024
£
£
Trade debtors
93,997
73,504
Other debtors
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
-
Trade creditors
108,210
19,890
Taxation and social security
69,817
26,847
Other creditors
52,780
49,533
236,777
96,270
6. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
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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