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REGISTERED NUMBER: 12829051 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

GLASS EYED LIMITED

GLASS EYED LIMITED (REGISTERED NUMBER: 12829051)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GLASS EYED LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: H J Fletcher
B J Fletcher





REGISTERED OFFICE: 9 New Street
Cubbington
Leamington Spa
CV32 7LA





REGISTERED NUMBER: 12829051 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

GLASS EYED LIMITED (REGISTERED NUMBER: 12829051)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,646 2,520

CURRENT ASSETS
Debtors 5 1,875 2,141

CREDITORS
Amounts falling due within one year 6 4,699 6,123
NET CURRENT LIABILITIES (2,824 ) (3,982 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,178

)

(1,462

)

PROVISIONS FOR LIABILITIES (313 ) -

ACCRUALS AND DEFERRED INCOME - 1
NET LIABILITIES (1,491 ) (1,461 )

CAPITAL AND RESERVES
Called up and paid share capital 10 10
Retained earnings (1,501 ) (1,471 )
(1,491 ) (1,461 )

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 directors acknowledge their 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.

GLASS EYED LIMITED (REGISTERED NUMBER: 12829051)

BALANCE SHEET - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 March 2025 and were signed on its behalf by:





B J Fletcher - Director


GLASS EYED LIMITED (REGISTERED NUMBER: 12829051)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Glass Eyed 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.

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 reducing balance
Computer equipment - 33% on cost

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Going concern
The financial statements have been prepared on the going concern basis, on the understanding that the company will receive continued support from the director for a period of at least 12 months from the date of these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

GLASS EYED LIMITED (REGISTERED NUMBER: 12829051)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 2,020 1,500 3,520
DEPRECIATION
At 1 September 2023 505 495 1,000
Charge for year 379 495 874
At 31 August 2024 884 990 1,874
NET BOOK VALUE
At 31 August 2024 1,136 510 1,646
At 31 August 2023 1,515 1,005 2,520

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,875 1,875
Prepayments and accrued income - 266
1,875 2,141

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 242 -
Directors' current accounts 4,097 4,833
Accruals and deferred income 360 1,290
4,699 6,123

7. RELATED PARTY DISCLOSURES

Included in other debtors are amounts owed totalling £493 to a company of which the director has an involvement. This loan is interest free with no fixed terms of this payment.