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REGISTERED NUMBER: 05143188 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

Global Computer Spares Ltd

Global Computer Spares Ltd (Registered number: 05143188)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Global Computer Spares Ltd

Company Information
for the Year Ended 31 March 2022







DIRECTOR: P Heneke





SECRETARY: S Kerby





REGISTERED OFFICE: 36 Cambridge Road
Hastings
East Sussex
TN34 1DU





REGISTERED NUMBER: 05143188 (England and Wales)





ACCOUNTANTS: Deeks Evans
Chartered Accountants
36 Cambridge Road
Hastings
East Sussex
TN34 1DU

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Global Computer Spares Ltd

The following reproduces the text of the report prepared for the director 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 Director 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 Global Computer Spares Ltd for the year ended 31 March 2022 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 director of Global Computer Spares Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Global Computer Spares Ltd and state those matters that we have agreed to state to the director of Global Computer Spares Ltd 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 Global Computer Spares Ltd and its director for our work or for this report.

It is your duty to ensure that Global Computer Spares 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 Global Computer Spares Ltd. You consider that Global Computer Spares 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 Global Computer Spares 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.






Deeks Evans
Chartered Accountants
36 Cambridge Road
Hastings
East Sussex
TN34 1DU


31 August 2022

Global Computer Spares Ltd (Registered number: 05143188)

Balance Sheet
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 8,865 11,820
8,865 11,820

CURRENT ASSETS
Stocks 218,810 185,681
Debtors 6 364,197 714,272
Cash at bank 184,647 47,022
767,654 946,975
CREDITORS
Amounts falling due within one year 7 327,689 543,528
NET CURRENT ASSETS 439,965 403,447
TOTAL ASSETS LESS CURRENT
LIABILITIES

448,830

415,267

CREDITORS
Amounts falling due after more than one
year

8

(77,020

)

(8,960

)

PROVISIONS FOR LIABILITIES (1,690 ) (2,300 )
NET ASSETS 370,120 404,007

CAPITAL & RESERVES
Called up share capital 11 1 1
Retained earnings 370,119 404,006
SHAREHOLDERS' FUNDS 370,120 404,007

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

Global Computer Spares Ltd (Registered number: 05143188)

Balance Sheet - continued
31 March 2022


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 August 2022 and were signed by:





P Heneke - Director


Global Computer Spares Ltd (Registered number: 05143188)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Global Computer Spares 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. 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 represents the total invoice value, excluding value added tax, of sales made during the year. Turnover is recognised when the significant risks and rewards are transferred to the buyer, which is when they have accepted physical delivery and control of the goods. No revenue is recognised if there are significant uncertainties regarding the recovery of the amount due.

Goodwill
Acquired goodwill has been fully amortised..

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over the lease term
Fixtures fittings and equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stock
Stock is valued at the lower of cost and estimated selling price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Global Computer Spares Ltd (Registered number: 05143188)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

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 11 (2021 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2021
and 31 March 2022 8,000
AMORTISATION
At 1 April 2021
and 31 March 2022 8,000
NET BOOK VALUE
At 31 March 2022 -
At 31 March 2021 -

5. TANGIBLE FIXED ASSETS
Fixtures
fittings
Short and Motor
leasehold equipment vehicles Totals
£    £    £    £   
COST
At 1 April 2021
and 31 March 2022 36,861 27,616 18,235 82,712
DEPRECIATION
At 1 April 2021 36,860 26,054 7,978 70,892
Charge for year - 391 2,564 2,955
At 31 March 2022 36,860 26,445 10,542 73,847
NET BOOK VALUE
At 31 March 2022 1 1,171 7,693 8,865
At 31 March 2021 1 1,562 10,257 11,820

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 364,197 714,272

Global Computer Spares Ltd (Registered number: 05143188)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans & overdrafts 16,667 -
Hire purchase contracts (see note 9) 5,550 3,177
Trade creditors 233,061 478,014
Corporation tax 26,092 4,818
Social security & other taxes 32,942 19,649
Other creditors 3,833 10,127
Director's current account 1,572 533
Accruals 7,972 27,210
327,689 543,528

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans - 1-2 years 16,667 -
Bank loans - 2-5 years 56,944 -
Hire purchase contracts (see note 9) 3,409 8,960
77,020 8,960

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2022 2021
£    £   
Net obligations repayable:
Within one year 5,550 3,177
Between one and five years 3,409 8,960
8,959 12,137

Non-cancellable operating leases
2022 2021
£    £   
Within one year 5,166 5,166
Between one and five years 431 5,597
5,597 10,763

10. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 90,278 -

Global Computer Spares Ltd (Registered number: 05143188)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

11. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
1 Ordinary £1 1 1