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REGISTERED NUMBER: 07214980 (England and Wales)















Glas Business Solutions Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024






Glas Business Solutions Limited (Registered number: 07214980)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glas Business Solutions Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: H Protheroe





REGISTERED OFFICE: Unit 14 Business Development Centre
Main Avenue
Treforest Industrial Estate
Pontypridd
CF37 5UR





REGISTERED NUMBER: 07214980 (England and Wales)





ACCOUNTANTS: Xeinadin South Wales & West Limited
Accountants & Business Advisors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

Glas Business Solutions Limited (Registered number: 07214980)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 5,997 6,425
Investments 5 28,000 28,000
33,997 34,425

CURRENT ASSETS
Debtors 6 270,382 260,806
Cash at bank 136,035 130,001
406,417 390,807
CREDITORS
Amounts falling due within one year 7 99,192 84,994
NET CURRENT ASSETS 307,225 305,813
TOTAL ASSETS LESS CURRENT
LIABILITIES

341,222

340,238

CREDITORS
Amounts falling due after more than one year 8 (34,677 ) (61,941 )

PROVISIONS FOR LIABILITIES 9 (1,499 ) -
NET ASSETS 305,046 278,297

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 305,044 278,295
SHAREHOLDERS' FUNDS 305,046 278,297

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Glas Business Solutions Limited (Registered number: 07214980)

Balance Sheet - continued
31 July 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 April 2025 and were signed by:





H Protheroe - Director


Glas Business Solutions Limited (Registered number: 07214980)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Glas Business Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover includes revenue earned from the rendering of services.Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for the work performed to date to the total estimated contract costs

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

Glas Business Solutions Limited (Registered number: 07214980)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 August 2023 39,941
Additions 4,936
At 31 July 2024 44,877
DEPRECIATION
At 1 August 2023 33,516
Charge for year 5,364
At 31 July 2024 38,880
NET BOOK VALUE
At 31 July 2024 5,997
At 31 July 2023 6,425

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2023
and 31 July 2024 28,000
NET BOOK VALUE
At 31 July 2024 28,000
At 31 July 2023 28,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Other debtors 270,382 260,806

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 17,326 10,107
Trade creditors 485 -
Taxation and social security 24,807 18,313
Other creditors 56,574 56,574
99,192 84,994

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans 34,677 61,941

Glas Business Solutions Limited (Registered number: 07214980)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

9. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax 1,499 -

Deferred
tax
£   
Charge to Income Statement during year 1,499
Balance at 31 July 2024 1,499

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
H Protheroe
Balance outstanding at start of year 51,386 56,243
Amounts advanced 89,132 67,267
Amounts repaid (81,578 ) (72,124 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 58,940 51,386

The balance is repayable on demand and will be repaid within 9 months of the year end. Interest has been charged at 2.25% (2023: 2.5%).

11. RELATED PARTY DISCLOSURES

The reporting entity was owed £199,062 (2023: £197,040) by companies under common control as at the balance sheet date.