Gleem Paint Solutions Limited 14891203 false 2023-05-24 2024-05-31 2024-05-31 The principal activity of the company is Painting Digita Accounts Production Advanced 6.30.9574.0 true 14891203 2023-05-24 2024-05-31 14891203 2024-05-31 14891203 bus:OrdinaryShareClass1 2024-05-31 14891203 core:CurrentFinancialInstruments 2024-05-31 14891203 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 14891203 core:FurnitureFittingsToolsEquipment 2024-05-31 14891203 bus:SmallEntities 2023-05-24 2024-05-31 14891203 bus:AuditExemptWithAccountantsReport 2023-05-24 2024-05-31 14891203 bus:FilletedAccounts 2023-05-24 2024-05-31 14891203 bus:SmallCompaniesRegimeForAccounts 2023-05-24 2024-05-31 14891203 bus:RegisteredOffice 2023-05-24 2024-05-31 14891203 bus:Director1 2023-05-24 2024-05-31 14891203 bus:Director2 2023-05-24 2024-05-31 14891203 bus:OrdinaryShareClass1 2023-05-24 2024-05-31 14891203 bus:PrivateLimitedCompanyLtd 2023-05-24 2024-05-31 14891203 bus:Agent1 2023-05-24 2024-05-31 14891203 core:FurnitureFittingsToolsEquipment 2023-05-24 2024-05-31 14891203 core:OfficeEquipment 2023-05-24 2024-05-31 14891203 core:PlantMachinery 2023-05-24 2024-05-31 14891203 countries:EnglandWales 2023-05-24 2024-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14891203

Gleem Paint Solutions Limited

Unaudited Filleted Abridged Financial Statements

for the Period from 24 May 2023 to 31 May 2024

 

Gleem Paint Solutions Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Gleem Paint Solutions Limited

Company Information

Directors

Mr Gwyn Weeks

Lee Gambling

Registered office

Unit 8b
22 Millfield Industrial Estate
Chard
TA20 2BB

Accountants

David Evans & Co Limited Stowegate House
Lombard Street
Lichfield
Staffs
WS13 6DP

 

Gleem Paint Solutions Limited

(Registration number: 14891203)
Abridged Balance Sheet as at 31 May 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

1,785

Current assets

 

Stocks

5

225

Debtors

6

13,395

Cash at bank and in hand

 

12,818

 

26,438

Prepayments and accrued income

 

188

Creditors: Amounts falling due within one year

(3,280)

Net current assets

 

23,346

Total assets less current liabilities

 

25,131

Accruals and deferred income

 

(14,327)

Net assets

 

10,804

Capital and reserves

 

Called up share capital

7

20,000

Retained earnings

(9,196)

Shareholders' funds

 

10,804

For the financial period ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 February 2025 and signed on its behalf by:
 

 

Gleem Paint Solutions Limited

(Registration number: 14891203)
Abridged Balance Sheet as at 31 May 2024

.........................................
Mr Gwyn Weeks
Director

.........................................
Lee Gambling
Director

 

Gleem Paint Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 24 May 2023 to 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 8b
22 Millfield Industrial Estate
Chard
TA20 2BB

These financial statements were authorised for issue by the Board on 10 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

20% Straight line depreciation

Office equipment

20% Straight line depreciation

 

Gleem Paint Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 24 May 2023 to 31 May 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call 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 of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3.

 

Gleem Paint Solutions Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 24 May 2023 to 31 May 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

1,515

1,515

Acquired through business combinations

590

590

At 31 May 2024

2,105

2,105

Depreciation

Charge for the period

320

320

At 31 May 2024

320

320

Carrying amount

At 31 May 2024

1,785

1,785

5

Stocks

2024
£

Other inventories

225

6

Debtors

Debtors includes £Nil due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary shares of £1 each

20,000

20,000