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REGISTERED NUMBER: 10764296 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31st May 2024

for

Glow Inflatables Ltd

Glow Inflatables Ltd (Registered number: 10764296)






Contents of the Financial Statements
for the Year Ended 31st May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glow Inflatables Ltd

Company Information
for the Year Ended 31st May 2024







DIRECTORS: A J Hutchinson
S Knights
J Hutchinson





REGISTERED OFFICE: Unit 21
97A East Road
Sleaford
Lincolnshire
NG34 7EH





REGISTERED NUMBER: 10764296 (England and Wales)





ACCOUNTANTS: Barker & Co
Chartered Accountants
Watling Offices
Smockington Lane
Wolvey
Hinckley
Leicestershire
LE10 3AY

Glow Inflatables Ltd (Registered number: 10764296)

Balance Sheet
31st May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 200,762 127,221

CURRENT ASSETS
Debtors 5 124,933 75,298
Cash at bank 311,559 241,940
436,492 317,238
CREDITORS
Amounts falling due within one year 6 232,563 129,885
NET CURRENT ASSETS 203,929 187,353
TOTAL ASSETS LESS CURRENT
LIABILITIES

404,691

314,574

CREDITORS
Amounts falling due after more than one
year

7

(90,548

)

(84,364

)

PROVISIONS FOR LIABILITIES (50,000 ) (25,000 )
NET ASSETS 264,143 205,210

CAPITAL AND RESERVES
Called up share capital 9 90 90
Retained earnings 264,053 205,120
SHAREHOLDERS' FUNDS 264,143 205,210

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

Glow Inflatables Ltd (Registered number: 10764296)

Balance Sheet - continued
31st May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th January 2025 and were signed on its behalf by:




A J Hutchinson - Director S Knights - Director




J Hutchinson - Director


Glow Inflatables Ltd (Registered number: 10764296)

Notes to the Financial Statements
for the Year Ended 31st May 2024

1. STATUTORY INFORMATION

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

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 historical cost convention.

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.
Motor vehicles - 25% on reducing balance
Equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

Glow Inflatables Ltd (Registered number: 10764296)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024

4. TANGIBLE FIXED ASSETS
Motor
vehicles Equipment Totals
£    £    £   
COST
At 1st June 2023 139,765 22,319 162,084
Additions 112,893 6,146 119,039
At 31st May 2024 252,658 28,465 281,123
DEPRECIATION
At 1st June 2023 30,163 4,700 34,863
Charge for year 40,227 5,271 45,498
At 31st May 2024 70,390 9,971 80,361
NET BOOK VALUE
At 31st May 2024 182,268 18,494 200,762
At 31st May 2023 109,602 17,619 127,221

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 104,705 55,754
Prepayments 20,228 19,544
124,933 75,298

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 57,863 16,405
Trade creditors 60,635 42,101
Social security and other taxes 100,112 57,363
Directors' current accounts 676 936
Accrued expenses 3,277 3,080
232,563 129,885

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 15,000 25,000
Hire purchase contracts 75,548 59,364
90,548 84,364

Glow Inflatables Ltd (Registered number: 10764296)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire Purchase 133,411 75,769

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
30 Ordinary A £1 30 30
15 Ordinary B £2 30 30
10 Ordinary C £3 30 30
90 90

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st May 2024 and 31st May 2023:

2024 2023
£    £   
A J Hutchinson and J Hutchinson
Balance outstanding at start of year (936 ) (624 )
Amounts advanced 260 -
Amounts repaid - (312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (676 ) (936 )

No Interest was payable on the Directors' Loan Account (2023 £Nil)