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Registered Number: 14029216
England and Wales

 

 

 

WE ARE GLOO LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 3,266    4,899 
3,266    4,899 
Current assets      
Debtors 185,170    85,606 
Cash at bank and in hand 7,983    8,111 
193,153    93,717 
Creditors: amount falling due within one year (181,887)   (23,405)
Net current assets 11,266    70,312 
 
Total assets less current liabilities 14,532    75,211 
Creditors: amount falling due after more than one year (216,571)   (156,011)
Net assets (202,039)   (80,800)
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account (202,139)   (80,900)
Shareholders' funds (202,039)   (80,800)
 


For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 06 August 2024 and were signed on its behalf by:


-------------------------------
Gary Ince
Director
1
General Information


The company is a private company limited by shares and registered in England and  Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in pound sterling (£) and this is the functional currency of the company.
1.

Accounting policies

Compliance with applicable reporting framework
The financial statements have been prepared under the historical cost convention and in compliance with FRS 102 Section 1A as it applies to the financial statement for the period and there were no material departures from the reporting standard.
Going concern basis
The financial statements have been prepared on the going concern basis. The directors are aware that the company suffered losses during the year and the statement of financial position reflects net liabilities. The directors indicated their ongoing support to the company and therefore they are of the opinion that the financial statements should continue to be prepared on the going concern basis.
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
Tangible fixed assets are stated at cost (or deemed cost), less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs.


Depreciation is provided at following annual rates in order to write off each asset over its estimated useful life.

Computer Equipment - Straight Line 4 years
Valuation of financial instruments policy
The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.


The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non puttable ordinary shares.


Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out right short term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.


Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Cash and cash equivalents comprise cash on hand and demand deposits and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk to changes in value.
2.

Average number of employees

Average number of employees during the year was 6 (2023 : 5).
3.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 May 2023 6,532    6,532 
Additions  
Disposals  
At 30 April 2024 6,532    6,532 
Depreciation
At 01 May 2023 1,633    1,633 
Charge for year 1,633    1,633 
On disposals  
At 30 April 2024 3,266    3,266 
Net book values
Closing balance as at 30 April 2024 3,266    3,266 
Opening balance as at 01 May 2023 4,899    4,899 


4.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

2