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Company Registration Number: 05610458
 
 
Absolutely Gleaming Ltd
 
Unaudited Financial Statements
 
for the financial year ended 30 November 2024
Absolutely Gleaming Ltd
DIRECTOR AND OTHER INFORMATION

 
Director G Farrall
 
 
Company Secretary G Farrall
 
 
Company Registration Number 05610458
 
 
Registered Office and Business Address Sovereign House, Stockport Road
Cheadle
Cheshire
SK8 2EA
UK
 
 
Accountants Langers
Chartered Certified Accountants
8-10 Gatley Road
Cheadle
Cheshire
SK8 1PY
UK



Absolutely Gleaming Ltd
Company Registration Number: 05610458
STATEMENT OF FINANCIAL POSITION
as at 30 November 2024

2024 2023
Notes £ £
 
Non-Current Assets
Property, plant and equipment 4 11,004 13,081
───────── ─────────
 
Current Assets
Stocks 5 830 830
Debtors 6 258,623 234,838
Cash and cash equivalents 679,004 563,610
───────── ─────────
938,457 799,278
───────── ─────────
Creditors: amounts falling due within one year 7 (218,053) (182,327)
───────── ─────────
Net Current Assets 720,404 616,951
───────── ─────────
Total Assets less Current Liabilities 731,408 630,032
 
Creditors:
amounts falling due after more than one year 8 (10,440) (20,643)
 
Provisions for liabilities 9 (2,751) (1,668)
───────── ─────────
Net Assets 718,217 607,721
═════════ ═════════
 
Capital and Reserves
Called up share capital 8 8
Other reserves (48,912) (48,912)
Retained earnings 767,121 656,625
───────── ─────────
Equity attributable to owners of the company 718,217 607,721
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.
           
For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges her responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 8 August 2025
           
           
________________________________          
G Farrall          
Director          
           



Absolutely Gleaming Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 November 2024

   
1. General Information
 
Absolutely Gleaming Ltd is a company limited by shares incorporated and registered in England. The registered number of the company is 05610458. The registered office of the company is Sovereign House, Stockport Road, Cheadle, Cheshire, SK8 2EA, UK which is also the principal place of business of the company. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 30 November 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 25% Reducing balance
  Motor vehicles - 25% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 73, (2023 - 73).
 
  2024 2023
  Number Number
 
Director 1 1
Non-directors 72 72
  ───────── ─────────
  73 73
  ═════════ ═════════
         
4. Property, plant and equipment
  Plant and Motor Total
  machinery vehicles  
       
  £ £ £
Cost
At 1 December 2023 16,432 26,050 42,482
Additions 3,865 - 3,865
Disposals (6,092) - (6,092)
  ───────── ───────── ─────────
At 30 November 2024 14,205 26,050 40,255
  ───────── ───────── ─────────
Depreciation
At 1 December 2023 11,910 17,491 29,401
Charge for the financial year 2,085 2,139 4,224
On disposals (4,374) - (4,374)
  ───────── ───────── ─────────
At 30 November 2024 9,621 19,630 29,251
  ───────── ───────── ─────────
Net book value
At 30 November 2024 4,584 6,420 11,004
  ═════════ ═════════ ═════════
At 30 November 2023 4,522 8,559 13,081
  ═════════ ═════════ ═════════
       
5. Stocks 2024 2023
  £ £
 
Raw materials 830 830
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
6. Debtors 2024 2023
  £ £
 
Trade debtors 189,276 163,311
Other debtors 1,614 600
Director's current account 63,636 65,896
Prepayments and accrued income 4,097 5,031
  ───────── ─────────
  258,623 234,838
  ═════════ ═════════
       
7. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bank loan 10,218 9,972
Trade creditors 2,075 2,665
Taxation 143,463 106,880
Other creditors 59,096 59,820
Accruals 3,201 2,990
  ───────── ─────────
  218,053 182,327
  ═════════ ═════════
       
8. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Bank loan 10,440 20,643
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 7) 10,218 9,972
Repayable between one and two years 10,440 10,218
Repayable between two and five years - 10,425
  ───────── ─────────
  20,658 30,615
  ═════════ ═════════
 
         
9. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start 1,668 1,668 1,487
Charged to profit and loss 1,083 1,083 181
  ───────── ───────── ─────────
At financial year end 2,751 2,751 1,668
  ═════════ ═════════ ═════════
       
10. Capital commitments
 
The company had no material capital commitments at the financial year-ended 30 November 2024.
           
11. Related party transactions
 
In the year ended 30 November 2024 the director G Farrall owed £63,636 to the company (2023: £65,896). Interest has been charged to the director at HMRC advisory rates on this loan which is repayable on demand and classified in debtors due within one year.
   
12. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial year-end.