Glosale Limited - Accounts to registrar (filleted) - small 18.2

Glosale Limited - Accounts to registrar (filleted) - small 18.2

GLOSALE LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v19.2.0.596 01442470 Board of Directors 1.4.18 31.3.19 31.3.19 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure014424702018-03-31014424702019-03-31014424702018-04-012019-03-31014424702017-03-31014424702017-04-012018-03-31014424702018-03-3101442470ns15:EnglandWales2018-04-012019-03-3101442470ns14:PoundSterling2018-04-012019-03-3101442470ns10:Director12018-04-012019-03-3101442470ns10:PrivateLimitedCompanyLtd2018-04-012019-03-3101442470ns10:SmallEntities2018-04-012019-03-3101442470ns10:AuditExemptWithAccountantsReport2018-04-012019-03-3101442470ns10:SmallCompaniesRegimeForDirectorsReport2018-04-012019-03-3101442470ns10:SmallCompaniesRegimeForAccounts2018-04-012019-03-3101442470ns10:FullAccounts2018-04-012019-03-3101442470ns10:Director22018-04-012019-03-3101442470ns10:RegisteredOffice2018-04-012019-03-3101442470ns5:CurrentFinancialInstruments2019-03-3101442470ns5:CurrentFinancialInstruments2018-03-3101442470ns5:ShareCapital2019-03-3101442470ns5:ShareCapital2018-03-3101442470ns5:RetainedEarningsAccumulatedLosses2019-03-3101442470ns5:RetainedEarningsAccumulatedLosses2018-03-3101442470ns5:PlantMachinery2018-04-012019-03-3101442470ns5:FurnitureFittings2018-04-012019-03-3101442470ns5:ComputerEquipment2018-04-012019-03-3101442470ns5:PlantMachinery2018-03-3101442470ns5:FurnitureFittings2018-03-3101442470ns5:ComputerEquipment2018-03-3101442470ns5:PlantMachinery2019-03-3101442470ns5:FurnitureFittings2019-03-3101442470ns5:ComputerEquipment2019-03-3101442470ns5:PlantMachinery2018-03-3101442470ns5:FurnitureFittings2018-03-3101442470ns5:ComputerEquipment2018-03-3101442470ns5:CurrentFinancialInstrumentsns5:WithinOneYear2019-03-3101442470ns5:CurrentFinancialInstrumentsns5:WithinOneYear2018-03-31


REGISTERED NUMBER: 01442470 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

GLOSALE LTD
T/A
CHEQUERS
D.R.E. & Co.
Chartered Accountants
6 Claremont Buildings
Claremont Bank
Shrewsbury
Shropshire
SY1 1RJ








GLOSALE LTD (REGISTERED NUMBER: 01442470)
T/A CHEQUERS






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

GLOSALE LTD
T/A CHEQUERS

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2019







DIRECTORS: Mr T A Roberts
Mr M M Beedles





REGISTERED OFFICE: 6 Claremont Buildings
Claremont Bank
Shrewsbury
Shropshire
SY1 1RJ





REGISTERED NUMBER: 01442470 (England and Wales)





ACCOUNTANTS: D.R.E. & Co.
Chartered Accountants
6 Claremont Buildings
Claremont Bank
Shrewsbury
Shropshire
SY1 1RJ
Page 1
GLOSALE LTD (REGISTERED NUMBER: 01442470)
T/A CHEQUERS

BALANCE SHEET
31 MARCH 2019

31.3.19 31.3.18
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 3,702 4,113

CURRENT ASSETS
Stocks 87,374 85,298
Debtors 6 315 238
Cash at bank and in hand 233 170
87,922 85,706
CREDITORS
Amounts falling due within one year 7 70,784 59,817
NET CURRENT ASSETS 17,138 25,889
TOTAL ASSETS LESS CURRENT
LIABILITIES
20,840
30,002

PROVISIONS FOR LIABILITIES 629 699
NET ASSETS 20,211 29,303

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 19,911 29,003
SHAREHOLDERS' FUNDS 20,211 29,303

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The notes form part of these financial statements

Page 2 continued...
GLOSALE LTD (REGISTERED NUMBER: 01442470)
T/A CHEQUERS

BALANCE SHEET - continued
31 MARCH 2019


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 Board of Directors on 30 September 2019 and were signed on its behalf
by:





Mr T A Roberts - Director


The notes form part of these financial statements

Page 3
GLOSALE LTD (REGISTERED NUMBER: 01442470)
T/A CHEQUERS

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019

1. STATUTORY INFORMATION

Glosale Ltd is a private company, limited by shares , registered in England and Wales. The company's registered
number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention. The accounts have been
prepared on a going concern basis.

The financial statements are presented in Sterling (£) rounded to the nearest £1.

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.
Furniture and equipment - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 4 ) .

Page 4 continued...
GLOSALE LTD (REGISTERED NUMBER: 01442470)
T/A CHEQUERS

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2019

5. TANGIBLE FIXED ASSETS
Furniture Fixtures
and and Computer
equipment fittings equipment Totals
£    £    £    £   
COST
At 1 April 2018
and 31 March 2019 3,488 20,285 3,927 27,700
DEPRECIATION
At 1 April 2018 3,154 16,506 3,927 23,587
Charge for year 33 378 - 411
At 31 March 2019 3,187 16,884 3,927 23,998
NET BOOK VALUE
At 31 March 2019 301 3,401 - 3,702
At 31 March 2018 334 3,779 - 4,113

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.19 31.3.18
£    £   
VAT - 55
Prepayments 315 183
315 238

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.19 31.3.18
£    £   
Bank loans and overdrafts 3,902 16,183
Trade creditors 49,972 34,308
Tax 16 (2 )
Social security and other taxes 501 548
VAT 6,512 -
Other creditors 770 -
Directors' current accounts 6,431 6,031
Accrued expenses 2,680 2,749
70,784 59,817

8. OTHER FINANCIAL COMMITMENTS

The total financial commitments not recognised at the balance sheet date were £66,250 (2018 - £81,250).

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £10,400 (2018 - £5,200) were paid to the directors .

Page 5
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GLOSALE LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the
Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of Glosale Ltd for the year ended 31 March 2019 which comprise the Income Statement, Balance
Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from
information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Glosale Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Glosale Ltd and state those matters that we have agreed to state to the Board of Directors of Glosale Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Glosale Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Glosale Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Glosale Ltd. You consider that Glosale Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Glosale Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






D.R.E. & Co.
Chartered Accountants
6 Claremont Buildings
Claremont Bank
Shrewsbury
Shropshire
SY1 1RJ


4 October 2019

This page does not form part of the statutory financial statements

Page 6