1 October 2023 false No description of principal activity Taxfiler 2024.6 12747790business:PrivateLimitedCompanyLtd2023-10-012024-09-30 127477902023-09-30 127477902023-10-012024-09-30 12747790business:AuditExemptWithAccountantsReport2023-10-012024-09-30 12747790business:FilletedAccounts2023-10-012024-09-30 127477902024-09-30 12747790business:Director12023-10-012024-09-30 12747790business:Director22023-10-012024-09-30 12747790business:Director52023-10-012024-09-30 12747790business:Director62023-10-012024-09-30 12747790business:CompanySecretary12023-10-012024-09-30 12747790business:RegisteredOffice2023-10-012024-09-30 127477902023-09-30 12747790core:WithinOneYear2024-09-30 12747790core:WithinOneYear2023-09-30 12747790core:ShareCapitalcore:PreviouslyStatedAmount2024-09-30 12747790core:ShareCapitalcore:PreviouslyStatedAmount2023-09-30 12747790core:SharePremiumcore:PreviouslyStatedAmount2024-09-30 12747790core:SharePremiumcore:PreviouslyStatedAmount2023-09-30 12747790core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-09-30 12747790core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-09-30 12747790core:PreviouslyStatedAmount2024-09-30 12747790core:PreviouslyStatedAmount2023-09-30 12747790business:SmallEntities2023-10-012024-09-30 12747790countries:EnglandWales2023-10-012024-09-30 12747790core:PlantMachinery2023-10-012024-09-30 12747790core:FurnitureFittings2023-10-012024-09-30 12747790core:ComputerEquipment2023-10-012024-09-30 12747790core:IntangibleAssetsOtherThanGoodwill2023-09-30 12747790core:IntangibleAssetsOtherThanGoodwill2024-09-30 12747790core:PlantMachinery2023-09-30 12747790core:MotorVehicles2023-09-30 12747790core:FurnitureFittings2023-09-30 12747790core:MotorVehicles2023-10-012024-09-30 12747790core:PlantMachinery2024-09-30 12747790core:MotorVehicles2024-09-30 12747790core:FurnitureFittings2024-09-30 1274779012023-10-012024-09-30 127477902022-08-012023-09-30 iso4217:GBP xbrli:pure
Company Registration No. 12747790 (England and Wales)
GLOOPRO PROCUREMENT SYSTEMS LIMITED Unaudited accounts for the year ended 30 September 2024
GLOOPRO PROCUREMENT SYSTEMS LIMITED Unaudited accounts Contents
Page
- 2 -
GLOOPRO PROCUREMENT SYSTEMS LIMITED Company Information for the year ended 30 September 2024
Directors
OLUSANYA, Oluwaseyin OLUSANYA, Olumide OGUNREMI Babatunde KUDEHINBU Olatoye
Secretary
VISTRA COSEC LIMITED
Company Number
12747790 (England and Wales)
Registered Office
FIRST FLOOR, TEMPLEBACK 10 TEMPLE BACK BRISTOL BS1 6FL UNITED KINGDOM
Accountants
Trinity Essex Limited 111 High Street Sittingbourne Kent ME10 4AJ
- 3 -
GLOOPRO PROCUREMENT SYSTEMS LIMITED Statement of financial position as at 30 September 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,320 
2,786 
Current assets
Inventories
1,290 
1,342 
Debtors
241,516 
418,392 
Cash at bank and in hand
36,268 
9,496 
279,074 
429,230 
Creditors: amounts falling due within one year
(188,566)
(284,235)
Net current assets
90,508 
144,995 
Total assets less current liabilities
91,828 
147,781 
Provisions for liabilities
Deferred tax
(28,152)
- 
Net assets
63,676 
147,781 
Capital and reserves
Called up share capital
3,806 
3,806 
Share premium
393,267 
532,900 
Profit and loss account
(333,397)
(388,925)
Shareholders' funds
63,676 
147,781 
For the year ending 30 September 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2025 and were signed on its behalf by
OLUSANYA, Olumide Director Company Registration No. 12747790
- 4 -
GLOOPRO PROCUREMENT SYSTEMS LIMITED Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
GLOOPRO PROCUREMENT SYSTEMS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12747790. The registered office is FIRST FLOOR, TEMPLEBACK, 10 TEMPLE BACK, BRISTOL, BS1 6FL, UNITED KINGDOM.
2
Compliance with accounting standards
The Director presented their report for the subsidiary company Pamente Limited, a private limited company, incorporated in Nigeria under the companies and Allies Matters Act 2020. The Company with a trading name of Gloopro (formerly Gloo.ng) is a cost-effective and secure cloud-based enterprise eProcurement and commerce platform designed to help large and medium enterprise gain end to end visibility into their purchasing activities and processes; control and cost and materials flow organisation-wide; and streamline and manage vendors related to material and service inputs to their business. The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit. At the end of each reporting period, monetary items denominated in foreign currencies are translated at the rate prevailing at that date. Non-Monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing at the date when fair value was determined
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20%
Fixtures & fittings
20%
Computer equipment
20%
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
- 5 -
GLOOPRO PROCUREMENT SYSTEMS LIMITED Notes to the Accounts for the year ended 30 September 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 October 2023
1,036 
At 30 September 2024
1,036 
Amortisation
At 1 October 2023
1,036 
At 30 September 2024
1,036 
Net book value
At 30 September 2024
- 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 October 2023
33,073 
4,446 
19,400 
56,919 
Additions
- 
- 
1,157 
1,157 
Disposals
- 
- 
(1,893)
(1,893)
At 30 September 2024
33,073 
4,446 
18,664 
56,183 
Depreciation
At 1 October 2023
32,996 
4,328 
16,809 
54,133 
Charge for the year
77 
118 
2,428 
2,623 
On disposals
- 
- 
(1,893)
(1,893)
At 30 September 2024
33,073 
4,446 
17,344 
54,863 
Net book value
At 30 September 2024
- 
- 
1,320 
1,320 
At 30 September 2023
77 
118 
2,591 
2,786 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
163,074 
418,392 
Accrued income and prepayments
1,709 
- 
Other debtors
76,733 
- 
241,516 
418,392 
- 6 -
GLOOPRO PROCUREMENT SYSTEMS LIMITED Notes to the Accounts for the year ended 30 September 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
54,693 
143,344 
Trade creditors
90,202 
97,810 
Taxes and social security
35,761 
12,385 
Other creditors
1,909 
- 
Loans from directors
2,053 
30,696 
Accruals
3,948 
- 
188,566 
284,235 
8
Capital commitments
2024 
2023 
£ 
£ 
There were no capital commitments as at the statement of financial position date
9
Contingent liabilities
There were no contingent liabilities as at the end of the year (
10
Transactions with related parties
i). Related parties include the Board of Directors,the Managing Director, close family members and companies which are controlled by these individuals. ii). Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Company, including the Directors of the Company Due to related party 2024 2023 Director's current account £2,053 £30,696
11
Post balance sheet events
No events or transactions have occurred since the statement of financial position date, which have not been taken into consideration in the preparation of these financial statements.
12
Average number of employees
During the year the average number of employees was 26 (2023: 23).
- 7 -