Company Registration No. 04161419 (England and Wales)
GLOVERS PROJECT SERVICES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2025
30 April 2025
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
GLOVERS PROJECT SERVICES LIMITED
COMPANY INFORMATION
Directors
Spyros Psoroula
Elia Kfouri
Company number
04161419
Registered office
1st Floor
The Old Tannery
Eastgate
Accrington
Lancashire
BB5 6PW
Auditor
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
GLOVERS PROJECT SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
GLOVERS PROJECT SERVICES LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
5,440
757
Current assets
Stocks
15,885
23,675
Debtors
5
84,168
64,944
Cash at bank and in hand
19,862
18,431
119,915
107,050
Creditors: amounts falling due within one year
6
(63,505)
(43,292)
Net current assets
56,410
63,758
Total assets less current liabilities
61,850
64,515
Provisions for liabilities
162
162
Net assets
62,012
64,677
Capital and reserves
Called up share capital
7
423
423
Share premium account
135,200
135,200
Profit and loss reserves
(73,611)
(70,946)
Total equity
62,012
64,677

The notes on pages 2 to 5 form part of these financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 15 January 2026 and are signed on its behalf by:
Elia Kfouri
Director
Company registration number 04161419 (England and Wales)
GLOVERS PROJECT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 2 -
1
Accounting policies
Company information

Glovers Project Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor, The Old Tannery, Eastgate, Accrington, Lancashire, BB5 6PW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents the value of services, excluding value added tax, provided during the year, for which the right to consideration has been obtained.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.4
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, was being a mortised evenly over its estimated useful life of twenty years.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10% straight line
Plant and equipment
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

GLOVERS PROJECT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
4
5
GLOVERS PROJECT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 4 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2024 and 30 April 2025
240,002
Amortisation and impairment
At 1 May 2024 and 30 April 2025
240,002
Carrying amount
At 30 April 2025
-
0
At 30 April 2024
-
0
4
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Total
£
£
£
Cost
At 1 May 2024
4,575
9,615
14,190
Additions
-
0
6,196
6,196
At 30 April 2025
4,575
15,811
20,386
Depreciation and impairment
At 1 May 2024
4,575
8,858
13,433
Depreciation charged in the year
-
0
1,513
1,513
At 30 April 2025
4,575
10,371
14,946
Carrying amount
At 30 April 2025
-
0
5,440
5,440
At 30 April 2024
-
0
757
757
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
68,558
53,166
Other debtors
15,610
11,778
84,168
64,944
GLOVERS PROJECT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 5 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
23,772
14,275
Taxation and social security
24,865
23,553
Other creditors
14,868
5,464
63,505
43,292
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
423
423
423
423
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 April 2025 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Chris Read FCCA
Statutory Auditor:
PM+M Solutions for Business LLP
Date of audit report:
15 January 2026
9
Related party transactions

Glovers Projects Services Limited has taken advantage of the exemption in FRS 102 (section 33) "related party disclosure" not to disclose transactions with other members of the group.

10
Parent company

DG Jones and Partners Limited, a company registered in Nicosia, Cyprus, is the parent company and is the smallest group which the company is consolidated into. Copies of the consolidated accounts can be obtained from the parent company registered address of Prodromou Street 115 2064, Strovolos Nicosia, Cyprus.

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