THE ONE GLOVE COMPANY LIMITED

Company Registration Number:
05313328 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2024

Period of accounts

Start date: 01 June 2023

End date: 31 May 2024

THE ONE GLOVE COMPANY LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2024

Balance sheet
Notes

THE ONE GLOVE COMPANY LIMITED

Balance sheet

As at 31 May 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 39,070 0
Tangible assets: 4 6,151 15,602
Total fixed assets: 45,221 15,602
Current assets
Stocks: 141,410 187,982
Debtors:   345,136 452,623
Cash at bank and in hand: 437,971 201,064
Total current assets: 924,517 841,669
Creditors: amounts falling due within one year:   (500,692) (424,099)
Net current assets (liabilities): 423,825 417,570
Total assets less current liabilities: 469,046 433,172
Creditors: amounts falling due after more than one year:     (21,667)
Provision for liabilities:   (2,965)
Total net assets (liabilities): 469,046 408,540
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 468,046 407,540
Shareholders funds: 469,046 408,540

The notes form part of these financial statements

THE ONE GLOVE COMPANY LIMITED

Balance sheet statements

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

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 for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 17 February 2025
and signed on behalf of the board by:

Name: M Leighton
Status: Director

The notes form part of these financial statements

THE ONE GLOVE COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transfered to the buyer (usually on the despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Intangible fixed assets and amortisation policy

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.

Valuation and information policy

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

THE ONE GLOVE COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

2. Employees

2024 2023
Average number of employees during the period 4 3

THE ONE GLOVE COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Intangible Assets

Total
Cost £
At 01 June 2023 0
Additions 48,838
At 31 May 2024 48,838
Amortisation
At 01 June 2023 0
Charge for year 9,768
At 31 May 2024 9,768
Net book value
At 31 May 2024 39,070
At 31 May 2023 0

THE ONE GLOVE COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Tangible Assets

Total
Cost £
At 01 June 2023 59,324
Additions 1,762
At 31 May 2024 61,086
Depreciation
At 01 June 2023 43,722
Charge for year 11,213
At 31 May 2024 54,935
Net book value
At 31 May 2024 6,151
At 31 May 2023 15,602