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
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
GLOOPRO PROCUREMENT SYSTEMS LIMITED
Statement of financial position
as at 30 September 2024
Tangible assets
1,320
2,786
Cash at bank and in hand
36,268
9,496
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
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
GLOOPRO PROCUREMENT SYSTEMS LIMITED
Notes to the Accounts
for the year ended 30 September 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
GLOOPRO PROCUREMENT SYSTEMS LIMITED
Notes to the Accounts
for the year ended 30 September 2024
4
Intangible fixed assets
Other
At 30 September 2024
1,036
At 30 September 2024
1,036
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
Disposals
-
-
(1,893)
(1,893)
At 30 September 2024
33,073
4,446
18,664
56,183
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
At 30 September 2024
-
-
1,320
1,320
At 30 September 2023
77
118
2,591
2,786
Amounts falling due within one year
Trade debtors
163,074
418,392
Accrued income and prepayments
1,709
-
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
Loans from directors
2,053
30,696
8
Capital commitments
2024
2023
There were no capital commitments as at the statement of financial position date
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).