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REGISTERED NUMBER: 05196713 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 August 2024

for

GLS Foodservice Designs Limited

GLS Foodservice Designs Limited (Registered number: 05196713)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


GLS Foodservice Designs Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: G L Stow





REGISTERED OFFICE: Venture House
Calne Road
Lyneham
Chippenham
SN15 4PP





BUSINESS ADDRESS: Unit 008
Bowman House Business Centre
Bowman Court, Whitehill Lane
Royal Wootton Bassett
SN4 7DB





REGISTERED NUMBER: 05196713 (England and Wales)





ACCOUNTANTS: Venture
Chartered Accountants
Venture House
Calne Road
Lyneham
Chippenham
SN15 4PP

GLS Foodservice Designs Limited (Registered number: 05196713)

Statement of Financial Position
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 4 959 734

CURRENT ASSETS
Debtors 5 31,574 169,622
Cash at bank 259,992 358,942
291,566 528,564
CREDITORS
Amounts falling due within one year 6 133,857 365,727
NET CURRENT ASSETS 157,709 162,837
TOTAL ASSETS LESS CURRENT
LIABILITIES

158,668

163,571

CREDITORS
Amounts falling due after more than one
year

7

-

(10,047

)

PROVISIONS FOR LIABILITIES (185 ) (185 )
NET ASSETS 158,483 153,339

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 158,383 153,239
SHAREHOLDERS' FUNDS 158,483 153,339

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

GLS Foodservice Designs Limited (Registered number: 05196713)

Statement of Financial Position - continued
31 August 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 13 January 2025 and were signed by:





G L Stow - Director


GLS Foodservice Designs Limited (Registered number: 05196713)

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

1. STATUTORY INFORMATION

GLS Foodservice Designs 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.

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

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

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other payables, bank loans and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 statement of financial position date.


GLS Foodservice Designs Limited (Registered number: 05196713)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 2 (2023 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 September 2023 7,733
Additions 773
At 31 August 2024 8,506
DEPRECIATION
At 1 September 2023 6,999
Charge for year 548
At 31 August 2024 7,547
NET BOOK VALUE
At 31 August 2024 959
At 31 August 2023 734

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 23,883 59,865
Other debtors 7,691 109,757
31,574 169,622

GLS Foodservice Designs Limited (Registered number: 05196713)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 34,183 51,055
Taxation and social security 17,462 4,849
Other creditors 82,212 309,823
133,857 365,727

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Other creditors - 10,047

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 ordinary £1 100 100