Registration number: 06708715

Gladiator Foam Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 6

Gladiator Foam Limited

(Registration number: 06708715)
Statement of Financial Position as at 30 September 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	8,615	10,645
Current assets
Stocks	5	9,866	12,495
Debtors	6	3,777	10,212
Cash at bank and in hand		-	1,713
		13,643	24,420
Creditors: Amounts falling due within one year	7	(84,272)	(90,349)
Net current liabilities		(70,629)	(65,929)
Total assets less current liabilities		(62,014)	(55,284)
Creditors: Amounts falling due after more than one year	7	(43,565)	(47,044)
Net liabilities		(105,579)	(102,328)
Capital and reserves
Called up share capital		1	1
Retained earnings		(105,580)	(102,329)
Shareholders' deficit		(105,579)	(102,328)

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 30 September 2025
 

......................................... Mr D P Miller Director

Gladiator Foam Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 12
The Glover Centre
Egmont Street
Mossley
Lancashire
OL5 9PY

These financial statements were authorised for issue by the director on 30 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurances from the directors that they will continue to give financial support to the company for the foreseeable future and for a period not less than 12 months from the date of signing these financial statements.

On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. However, should the financial support mentioned above not be forthcoming the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be be necessary should this basis not continue to be appropriate.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Gladiator Foam Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Government grants

Government grants are included within the profit and loss account on the accruals basis.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Gladiator Foam Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 4).

4	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
At 1 October 2023	31,992	31,992
At 30 September 2024	31,992	31,992
Depreciation
At 1 October 2023	21,347	21,347
Charge for the year	2,030	2,030
At 30 September 2024	23,377	23,377
Carrying amount
At 30 September 2024	8,615	8,615
At 30 September 2023	10,645	10,645

5

Stocks

	2024 £	2023 £
Other inventories	9,866	12,495

6

Debtors

Current	2024 £	2023 £
Trade debtors	-	10,212
Other debtors	3,777	-
	3,777	10,212

Gladiator Foam Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	8	15,063	12,295
Trade creditors		11,504	4,011
Taxation and social security		39,043	39,481
Accruals and deferred income		3,367	3,427
Other creditors		15,295	31,135
		84,272	90,349

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	8	43,565	47,044

8	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	43,565	47,044

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	9,862	9,479
Bank overdrafts	151	-
Other borrowings	5,050	2,816
	15,063	12,295

Gladiator Foam Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9	Related party transactions

Transactions with the director

2024	At 1 October 2023 £	Advances to director £	At 30 September 2024 £
Mr D P Miller
Net advances during the year, with no set repayment date and interest free.	(29,561)	33,338	3,777