Company Registration No. SC507884 (Scotland)
GLOWORMRECORDING LTD
Unaudited accounts
for the year ended 30 June 2024
GLOWORMRECORDING LTD
Unaudited accounts
Contents
GLOWORMRECORDING LTD
Company Information
for the year ended 30 June 2024
Directors
Iain Hutchison
Andrea Gobbi
Company Number
SC507884 (Scotland)
Registered Office
226 WEST REGENT STREET
GLASGOW
G2 4DQ
SCOTLAND
Accountants
Avid Accountants Ltd
21 Blythswood Square
Glasgow
G2 4BL
Accountants' report to the board of directors on the preparation of the unaudited statutory statements of GLOWORMRECORDING LTD (The Company) for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of the company for the year ended 30 June 2024 which comprises of the profit and loss account, the balance sheet, and explanatory notes from the company's accounting records and from information and explanations which you have provided us with.
As a member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.
This report is made solely to the board of directors of the company, as a body, in accordance with the terms of our letter of engagement dated . Our work has been undertaken solely to prepare for your approval the financial statements of the company, and state those matters that we have agreed to state to the board of directors of the company as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its board of directors as a body for our work or for this report.
It is your duty to ensure that the company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and financial performance of the company. You consider that the company is exempt from the requirement to have a statutory audit for the year ended 30 June 2024.
We have not been instructed to carry out any assurance service on the financial statements of the company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Avid Accountants Ltd
Financial Accountants
21 Blythswood Square
Glasgow
G2 4BL
26 March 2025
GLOWORMRECORDING LTD
Statement of financial position
as at 30 June 2024
Tangible assets
147,101
142,454
Cash at bank and in hand
12,531
7,093
Creditors: amounts falling due within one year
(10,293)
(12,991)
Net current assets
4,084
1,105
Total assets less current liabilities
151,185
143,559
Creditors: amounts falling due after more than one year
(113,821)
(101,240)
Provisions for liabilities
Called up share capital
120
105
Revaluation reserve
14,933
14,933
Profit and loss account
21,207
27,281
Shareholders' funds
36,260
42,319
For the year ending 30 June 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 26 March 2025 and were signed on its behalf by
Iain Hutchison
Director
Company Registration No. SC507884
GLOWORMRECORDING LTD
Notes to the Accounts
for the year ended 30 June 2024
GLOWORMRECORDING LTD is a private company, limited by shares, registered in Scotland, registration number SC507884. The registered office is 226 WEST REGENT STREET, GLASGOW, G2 4DQ, SCOTLAND.
2
Compliance with accounting standards
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.
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:
Land & buildings
10 year straight line
Plant & machinery
6% per year
Fixtures & fittings
5 year straight line
Computer equipment
5 year straight line
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 July 2023
23,900
178,240
4,642
5,965
212,747
Additions
1,035
6,544
124
5,042
12,745
At 30 June 2024
24,935
184,784
4,766
11,007
225,492
At 1 July 2023
8,153
54,142
2,730
5,268
70,293
Charge for the year
2,392
5,169
464
73
8,098
At 30 June 2024
10,545
59,311
3,194
5,341
78,391
At 30 June 2024
14,390
125,473
1,572
5,666
147,101
At 30 June 2023
15,747
124,098
1,912
697
142,454
GLOWORMRECORDING LTD
Notes to the Accounts
for the year ended 30 June 2024
Amounts falling due within one year
Accrued income and prepayments
10
10
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
2,480
2,480
Trade creditors
3,400
2,933
Taxes and social security
54
-
Other creditors
1,832
1,261
7
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
8,233
14,822
Loans from directors
103,315
81,665
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).