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REGISTERED NUMBER: SC639601 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

GLAMPITECT LIMITED

GLAMPITECT LIMITED (REGISTERED NUMBER: SC639601)

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










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


GLAMPITECT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: C Macleod





REGISTERED OFFICE: 113 St. Johns Road
Edinburgh
Lothian
EH12 7SB





REGISTERED NUMBER: SC639601 (Scotland)





ACCOUNTANTS: DPC Accountants Ltd
Stone House
Stone Road Business Park
Stoke-On-Trent
ST4 6SR

GLAMPITECT LIMITED (REGISTERED NUMBER: SC639601)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 6,666 20,000
Tangible assets 5 27,105 16,959
33,771 36,959

CURRENT ASSETS
Debtors 6 156,408 145,558
Cash at bank - 26,021
156,408 171,579
CREDITORS
Amounts falling due within one year 7 (147,143 ) (166,981 )
NET CURRENT ASSETS 9,265 4,598
TOTAL ASSETS LESS CURRENT
LIABILITIES

43,036

41,557

CREDITORS
Amounts falling due after more than one
year

8

(80,309

)

(82,363

)

PROVISIONS FOR LIABILITIES - (3,221 )
NET LIABILITIES (37,273 ) (44,027 )

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings (37,283 ) (44,037 )
(37,273 ) (44,027 )

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.

GLAMPITECT LIMITED (REGISTERED NUMBER: SC639601)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 June 2025 and were signed by:





C Macleod - Director


GLAMPITECT LIMITED (REGISTERED NUMBER: SC639601)

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


1. STATUTORY INFORMATION

Glampitect Limited is a private company, limited by shares , registered in Scotland. 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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reports. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(a) Critical accounting estimates and assumptions

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. See tangible assets note for the carrying amount of the assets and the accounting policy for the useful economic lives for each class of assets.

(ii) Impairment of debtors

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See debtors note for the net carrying amount of the debtors.

(ii) Stock Provision
The group manufactures and supply's control panels which are associated with repairs and
servicing. Given the volume of stock held it is necessary to consider the recoverability of the cost of stock and the associated provision required. When calculating the stock provision, management considers the nature and condition of the stock, as well as applying assumptions around anticipated saleability of the stock.

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

GLAMPITECT LIMITED (REGISTERED NUMBER: SC639601)

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


2. ACCOUNTING POLICIES - continued

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website are being amortised evenly over their estimated useful life of three years.

TANGIBLE FIXED ASSETS
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

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 straight line
Plant and Machinery 20- % on straight line
Computer Equipment - 33.33% on straight line
Motor Vehicles - 20% on straight line

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purpose of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash- generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or group of assets.

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.


GLAMPITECT LIMITED (REGISTERED NUMBER: SC639601)

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 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 12 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 September 2023
and 31 August 2024 40,000
AMORTISATION
At 1 September 2023 20,000
Charge for year 13,334
At 31 August 2024 33,334
NET BOOK VALUE
At 31 August 2024 6,666
At 31 August 2023 20,000

GLAMPITECT LIMITED (REGISTERED NUMBER: SC639601)

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


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 37,320
Additions 23,058
At 31 August 2024 60,378
DEPRECIATION
At 1 September 2023 20,361
Charge for year 12,912
At 31 August 2024 33,273
NET BOOK VALUE
At 31 August 2024 27,105
At 31 August 2023 16,959

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 25,919 41,368
Amounts owed by associates 94,818 99,589
Other debtors 35,671 4,601
156,408 145,558

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 30,932 16,833
Hire purchase contracts 3,115 -
Trade creditors 34,447 38,999
Taxation and social security 42,621 43,280
Other creditors 36,028 67,869
147,143 166,981

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 53,647 78,896
Hire purchase contracts 16,665 -
Other creditors 9,997 3,467
80,309 82,363

GLAMPITECT LIMITED (REGISTERED NUMBER: SC639601)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.8.24 31.8.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans payable more than
5 years by instalments 11,353 20,672
11,353 20,672

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31.8.24 31.8.23
£    £   
C Macleod
Balance outstanding at start of year - -
Amounts advanced 17,000 -
Amounts repaid (7,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,000 -