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REGISTERED NUMBER: SC408395 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Glocast Ltd

Glocast Ltd (Registered number: SC408395)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Glocast Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTOR: A S Moffat





REGISTERED OFFICE: 19 Windsor Place
Edinburgh
EH15 2AJ





REGISTERED NUMBER: SC408395 (Scotland)





ACCOUNTANTS: One Accounting Ltd
Chartered Management Accountants
Drumsheugh Toll
2 Belford Road
Edinburgh
Midlothian
EH4 3BL

Glocast Ltd (Registered number: SC408395)

Statement of Financial Position
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 110,981 132,749

CURRENT ASSETS
Debtors 5 243,653 181,584
Cash at bank 13,549 62,311
257,202 243,895
CREDITORS
Amounts falling due within one year 6 279,707 233,352
NET CURRENT (LIABILITIES)/ASSETS (22,505 ) 10,543
TOTAL ASSETS LESS CURRENT
LIABILITIES

88,476

143,292

CREDITORS
Amounts falling due after more than one year 7 (64,400 ) (118,560 )

PROVISIONS FOR LIABILITIES (23,130 ) (21,131 )
NET ASSETS 946 3,601

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 943 3,598
SHAREHOLDERS' FUNDS 946 3,601

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 26 August 2025 and were signed by:





A S Moffat - Director


Glocast Ltd (Registered number: SC408395)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Glocast Ltd 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.

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.
Improvements to property - 10% on cost
Plant and machinery - 33% on cost and 20% on cost
Fixtures and fittings - 20% on cost
Computer equipments - 33% on cost and 20% on cost

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Debt instruments, including loans and other accounts receivable and payable are initially measured at transaction price adjusted for transaction costs. They are subsequently recognised at amortised costs using the effective interest method.

Creditors payable within one year, typically trade payables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid.

Debtors payable within one year, typically trade receivables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be received.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Glocast Ltd (Registered number: SC408395)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

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 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipments Totals
£    £    £    £    £   
COST
At 1 January 2024 30,736 205,787 20,182 204,981 461,686
Additions - - 250 29,923 30,173
Disposals - (29,886 ) - (2,389 ) (32,275 )
At 31 December 2024 30,736 175,901 20,432 232,515 459,584
DEPRECIATION
At 1 January 2024 9,200 183,229 10,905 125,603 328,937
Charge for year 3,074 12,724 4,038 32,105 51,941
Eliminated on disposal - (29,886 ) - (2,389 ) (32,275 )
At 31 December 2024 12,274 166,067 14,943 155,319 348,603
NET BOOK VALUE
At 31 December 2024 18,462 9,834 5,489 77,196 110,981
At 31 December 2023 21,536 22,558 9,277 79,378 132,749

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 81,867 54,494
Other debtors 39,586 18,989
Directors' loan accounts 118,693 108,101
Prepayments and accrued income 3,507 -
243,653 181,584

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts (see note 8) 17,868 35,625
Other loans (see note 8) 80,469 99,850
Trade creditors 56,086 25,215
Tax 36,804 -
Social security and other taxes 17,584 6,109
VAT 64,527 36,529
Other creditors 2,184 26,052
Accrued expenses 4,185 3,972
279,707 233,352

Glocast Ltd (Registered number: SC408395)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans (see note 8) 4,666 22,374
Other loans (see note 8) 59,734 96,186
64,400 118,560

8. LOANS

An analysis of the maturity of loans is given below:

31.12.24 31.12.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 160 -
Bank loans 17,708 35,625
Other loans 80,469 99,850
98,337 135,475

Amounts falling due between one and two years:
Bank loans - 1-2 years 4,666 17,709
Other loans - 1-2 years 39,143 36,512
43,809 54,221

Amounts falling due between two and five years:
Bank loans - 2-5 years - 4,665
Other loans - 2-5 years 20,591 59,674
20,591 64,339

This loan is secured by the assets of the Company.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 December 2024 and the period ended 31 December 2023:

31.12.24 31.12.23
£    £   
A S Moffat
Balance outstanding at start of year 108,101 84,558
Amounts advanced 100,904 248,199
Amounts repaid (90,312 ) (224,656 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 118,693 108,101

The Director's loan is repayable on demand. Interest is charged throughout the year at a rate of 2.25% on balances exceeding £10,000.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £59,900 (2023 - £38,000) were paid to the director.