Company registration number: 10917752
Unaudited financial statements
for the year ended 29 February 2024
for
Gladtech Solutions Ltd
Pages for filing with the Registrar
Company registration number: 10917752
Gladtech Solutions Ltd
Balance sheet
as at 29 February 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 42,936 52,151
42,936 52,151
Current assets
Debtors 114,988 34,415
Cash at bank and in hand 75,523 93,214
190,511 127,629
Creditors: amounts falling due within
one year
(31,796) (21,143)
Net current assets 158,715 106,486
Total assets less current liabilities 201,651 158,637
NET ASSETS 201,651 158,637
Capital and reserves
Called up share capital 100 100
Profit and loss account 201,551 158,537
TOTAL EQUITY 201,651 158,637
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 29 February 2024.
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 to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 10917752
Gladtech Solutions Ltd
Balance sheet - continued
as at 29 February 2024
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 26 November 2024 and signed on its behalf by:
Mr N Reddy, Director
26 November 2024
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Gladtech Solutions Ltd
Notes to the financial statements
for the year ended 29 February 2024
1 Company information
Gladtech Solutions Ltd is a private company registered in England and Wales. Its registered number is 10917752. The company is limited by shares. Its registered office is 1 Hegarty Way, Staplehurst, Tonbridge, TN12 0FY.
2 Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” including the provisions of Section 1A “Small Entities” and the Companies Act 2006. The financial statements have been prepared under the historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Plant and machinery - 20% straight line
Motor vehicles - 20% straight line
Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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Gladtech Solutions Ltd
Notes to the financial statements - continued
for the year ended 29 February 2024
3 Average number of employees
During the year the average number of employees was 1 (2023 - 1).
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 March 2023 65,189
Additions 4,778
At 29 February 2024 69,967
Depreciation
At 1 March 2023 13,038
Charge for year 13,993
At 29 February 2024 27,031
Net book value
At 29 February 2024 42,936
At 28 February 2023 52,151
5 Advances, credit and guarantees granted to directors
The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023.
2024 2023
£ £
Mr Noel REDDY
Amounts advanced 10,000 -
Balance outstanding at end of year 10,000 -
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