| REGISTERED NUMBER: |
| GLASS GURUS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 17 JANUARY 2024 TO 31 JANUARY 2025 |
| REGISTERED NUMBER: |
| GLASS GURUS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 17 JANUARY 2024 TO 31 JANUARY 2025 |
| GLASS GURUS LIMITED (REGISTERED NUMBER: SC795524) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 17 JANUARY 2024 TO 31 JANUARY 2025 |
| Page |
| Statement of Financial Position | 1 |
| Notes to the Financial Statements | 2 |
| GLASS GURUS LIMITED (REGISTERED NUMBER: SC795524) |
| STATEMENT OF FINANCIAL POSITION |
| 31 JANUARY 2025 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| The financial statements were approved by the director and authorised for issue on |
| GLASS GURUS LIMITED (REGISTERED NUMBER: SC795524) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 17 JANUARY 2024 TO 31 JANUARY 2025 |
| 1. | STATUTORY INFORMATION |
| Glass Gurus Limited is a private company, limited by shares, registered in Scotland. The company's registered office address is 20 Sussex Grove, Glenboig, Coatbridge, Scotland, ML5 2TR. |
| The presentation currency of the financial statements is Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from the standard. The financial statements have been prepared under the historical cost convention. |
| Judgements |
| The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The director considers there are no such significant judgements. |
| Provisions |
| Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date. |
| Turnover |
| Turnover represents the invoice value of services rendered in the year, exclusive of value added tax. The company's policy is to recognise income when substantively all risks and rewards in connection with the services have been passed to the buyer. |
| Goodwill |
| Goodwill, being the amount paid in connection with the purchase of a customer list in 2024, is being amortised evenly over its estimated useful life of ten years. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Fixed assets are included in the balance sheet at cost less accumulated depreciation and accumulated impairment losses. |
| Impairment of non-financial assets |
| At each reporting date non-financial assets not carried at fair value, like plant and equipment and goodwill, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss. |
| GLASS GURUS LIMITED (REGISTERED NUMBER: SC795524) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 17 JANUARY 2024 TO 31 JANUARY 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to and from related parties. |
| Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received. |
| Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss. |
| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
| Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities. |
| Taxation |
| Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
| The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the director considers it to be more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the average tax rates which would apply when the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date. |
| With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense. |
| Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was NIL. |
| GLASS GURUS LIMITED (REGISTERED NUMBER: SC795524) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 17 JANUARY 2024 TO 31 JANUARY 2025 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| Additions |
| At 31 January 2025 |
| AMORTISATION |
| Charge for period |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| Additions |
| At 31 January 2025 |
| DEPRECIATION |
| Charge for period |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Taxation and social security |
| Other creditors |
| 7. | RELATED PARTY DISCLOSURES |
| At the balance sheet date, the amount owed to the director is £423. This loan is unsecured, interest free and has no fixed repayment terms. |