Company Registration No. 08649526 (England and Wales)
GLO Investments Ltd
Unaudited accounts
for the year ended 30 October 2021
GLO Investments Ltd
Statement of financial position
as at
30 October 2021
Tangible assets
7,787
12,201
Inventories
225,000
206,170
Cash at bank and in hand
84,157
38,319
Creditors: amounts falling due within one year
(108,530)
(55,705)
Net current assets
322,289
248,952
Total assets less current liabilities
330,076
261,153
Creditors: amounts falling due after more than one year
(47,940)
(50,000)
Provisions for liabilities
Deferred tax
(4,636)
(5,538)
Net assets
277,500
205,615
Profit and loss account
277,498
205,613
Shareholders' funds
277,500
205,615
For the year ending 30 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 July 2022 and were signed on its behalf by
Ameer Hamzah Iqbal
Director
Company Registration No. 08649526
GLO Investments Ltd
Notes to the Accounts
for the year ended 30 October 2021
GLO Investments Ltd is a private company, limited by shares, registered in England and Wales, registration number 08649526. The registered office is 15 - 23 PARK HOUSE, WATFORD BUSINESS CEN, GREENHILL CRESCENT, WATFORD, WD18 8PH, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33 % Straight Line
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Straight Line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
GLO Investments Ltd
Notes to the Accounts
for the year ended 30 October 2021
4
Tangible fixed assets
Total
At 31 October 2020
30,917
At 30 October 2021
36,917
At 31 October 2020
18,716
Charge for the year
10,414
At 30 October 2021
29,130
At 30 October 2020
12,201
5
Average number of employees
During the year the average number of employees was 3 (2020: 3).