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GLOPACK LIMITED

Registered Number
10169011
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

GLOPACK LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Director

UNGAN, Huseyin

Registered Address

293 Green Lanes
Palmers Green
N13 4XS

Registered Number

10169011 (England and Wales)
GLOPACK LIMITED
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Current assets
Stocks3-4,000
Debtors272,41130,093
Cash at bank and on hand3,9984,568
276,40938,661
Creditors amounts falling due within one year4(28,930)(12,115)
Net current assets (liabilities)247,47926,546
Total assets less current liabilities247,47926,546
Creditors amounts falling due after one year5(185,879)-
Net assets61,60026,546
Capital and reserves
Called up share capital1,0001,000
Profit and loss account60,60025,546
Shareholders' funds61,60026,546
The financial statements were approved and authorised for issue by the Director on 20 February 2025, and are signed on its behalf by:
UNGAN, Huseyin
Director
Registered Company No. 10169011
GLOPACK LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory 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.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year11
3.Stocks

2024

2023

££
Finished goods-4,000
Total-4,000
4.Creditors: amounts due within one year

2024

2023

££
Taxation and social security28,9305,481
Other creditors-6,634
Total28,93012,115
5.Creditors: amounts due after one year

2024

2023

££
Other creditors185,879-
Total185,879-