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REGISTERED NUMBER: 02195581 (England and Wales)















Global Components & Tooling
Corporation Limited

Unaudited Financial Statements

For The Year Ended

31st December 2021






Global Components & Tooling
Corporation Limited (Registered number: 02195581)

Contents of the Financial Statements
For The Year Ended 31st December 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4

Chartered Accountants' Report 5

Global Components & Tooling
Corporation Limited

Company Information
For The Year Ended 31st December 2021







DIRECTOR: T Alderson





REGISTERED OFFICE: 8 Hopper Way
Diss
Norfolk
IP22 4GT





REGISTERED NUMBER: 02195581 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
8 Hopper Way
Diss
Norfolk
IP22 4GT

Global Components & Tooling
Corporation Limited (Registered number: 02195581)

Balance Sheet
31st December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2,078 2,497

CURRENT ASSETS
Stocks 31,155 39,017
Debtors 6 282,012 200,335
Cash at bank 349,762 454,716
662,929 694,068
CREDITORS
Amounts falling due within one year 7 106,463 107,855
NET CURRENT ASSETS 556,466 586,213
TOTAL ASSETS LESS CURRENT LIABILITIES 558,544 588,710

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 558,444 588,610
SHAREHOLDERS' FUNDS 558,544 588,710

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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.

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 director and authorised for issue on 13th September 2022 and were signed by:





T Alderson - Director


Global Components & Tooling
Corporation Limited (Registered number: 02195581)

Notes to the Financial Statements
For The Year Ended 31st December 2021


1. STATUTORY INFORMATION

Global Components & Tooling Corporation Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 accounts have been prepared on the break-up basis rather than going concern basis. All assets are recognised at net realisable value.

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.
Tooling equipment - 20% on cost
Office equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

Global Components & Tooling
Corporation Limited (Registered number: 02195581)

Notes to the Financial Statements - continued
For The Year Ended 31st December 2021


5. TANGIBLE FIXED ASSETS
Tooling Office Motor
equipment equipment vehicles Totals
£    £    £    £   
COST
At 1st January 2021
and 31st December 2021 42,450 10,932 7,964 61,346
DEPRECIATION
At 1st January 2021 42,450 8,875 7,524 58,849
Charge for year - 309 110 419
At 31st December 2021 42,450 9,184 7,634 59,268
NET BOOK VALUE
At 31st December 2021 - 1,748 330 2,078
At 31st December 2020 - 2,057 440 2,497

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 259,784 174,253
Other debtors 22,228 26,082
282,012 200,335

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 97,396 83,617
Taxation and social security 2,597 3,059
Other creditors 6,470 21,179
106,463 107,855

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
99 Ordinary A £1 99 99
1 Ordinary B £1 1 1
100 100

9. RELATED PARTY DISCLOSURES

Included within trade debtors there is a balance of £21,916 (2020 - £14,995) owed to the subsidiary, this is not repayable under normal trading terms.

Included within trade creditors there is a balance of £4,828 (2020 - £27,083) owed to the parent company, this is not repayable under normal trading terms.

Included in other creditors is a balance of £813 (2020 - £5,044) owed to the parent company.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Global Components & Tooling
Corporation Limited


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 Components & Tooling Corporation Limited for the year ended 31st December 2021 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 director of Global Components & Tooling Corporation Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Global Components & Tooling Corporation Limited and state those matters that we have agreed to state to the director of Global Components & Tooling Corporation Limited 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 Components & Tooling Corporation Limited and its director for our work or for this report.

It is your duty to ensure that Global Components & Tooling Corporation Limited 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 loss of Global Components & Tooling Corporation Limited. You consider that Global Components & Tooling Corporation Limited 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 Components & Tooling Corporation Limited. 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.






Haines Watts
Chartered Accountants
8 Hopper Way
Diss
Norfolk
IP22 4GT


Date: .............................................