| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 January 2025 |
| for |
| GLOWMADE LTD |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 January 2025 |
| for |
| GLOWMADE LTD |
| GLOWMADE LTD (REGISTERED NUMBER: 09655330) |
| Contents of the Financial Statements |
| for the year ended 31 January 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| GLOWMADE LTD |
| Company Information |
| for the year ended 31 January 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Preston Park House |
| South Road |
| Brighton |
| East Sussex |
| BN1 6SB |
| GLOWMADE LTD (REGISTERED NUMBER: 09655330) |
| Balance Sheet |
| 31 January 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Share premium |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| GLOWMADE LTD (REGISTERED NUMBER: 09655330) |
| Balance Sheet - continued |
| 31 January 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| GLOWMADE LTD (REGISTERED NUMBER: 09655330) |
| Notes to the Financial Statements |
| for the year ended 31 January 2025 |
| 1. | STATUTORY INFORMATION |
| Glowmade Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue is measured at the fair value of the consideration received or receivable net of VAT and trade discounts, and is recognised as follows: |
| Revenue from the sale of video games services is recognised as contract activity progresses. Revenue not billed is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors. |
| 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. |
| Amortisation of computer software commences upon completion of the website. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost, or deemed cost, [or valuation] less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Computer equipment | - | 20% straight line |
| Fixtures & fittings | - | 25% reducing balance |
| Leasehold improvements | - | 10% on cost over lease term |
| Financial instruments |
| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. |
| 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. |
| GLOWMADE LTD (REGISTERED NUMBER: 09655330) |
| Notes to the Financial Statements - continued |
| for the year ended 31 January 2025 |
| 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. |
| Impairment |
| At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 February 2024 |
| Additions |
| At 31 January 2025 |
| AMORTISATION |
| Charge for year |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| GLOWMADE LTD (REGISTERED NUMBER: 09655330) |
| Notes to the Financial Statements - continued |
| for the year ended 31 January 2025 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Improvements | and | Computer |
| to property | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 February 2024 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 January 2025 |
| DEPRECIATION |
| At 1 February 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| 6. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 February 2024 |
| and 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| GLOWMADE LTD (REGISTERED NUMBER: 09655330) |
| Notes to the Financial Statements - continued |
| for the year ended 31 January 2025 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax | 148,618 | - |
| Deferred tax |
| £ |
| Provided during year |
| Balance at 31 January 2025 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| A Ordinary | £0.01 | 7 | 10 |
| Ordinary | £0.01 | 10 | 10 |
| 17 | 20 |
| During the year, there was a purchase of own shares of 304 ordinary A shares. |
| GLOWMADE LTD (REGISTERED NUMBER: 09655330) |
| Notes to the Financial Statements - continued |
| for the year ended 31 January 2025 |
| 12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 January 2025 and 31 January 2024: |
| 2025 | 2024 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Director's loan is interest free and repayable on demand. |
| 13. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of the exemption under FRS 102 from disclosing transactions between the company and its subsidiaries Binocular Bonanza Limited, Monocle Mayhem Limited and Spectacular Skulduggery Ltd. |
| 14. | PURCHASE OF OWN SHARES |
| During the year, the company purchased and cancelled 304 ordinary A shares of £0.01 each at a price of £2,220.39 per share. The total consideration paid was £675,000. |
| The nominal value of the shares cancelled (£3) has been transferred to a Capital Redemption Reserve, in accordance with the Companies Act 2006. The remaining £674,997 was charged to retained earnings. |