Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31falseThat of a property rental companytrue32022-01-013falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11190156 2022-01-01 2022-12-31 11190156 2021-01-01 2021-12-31 11190156 2022-12-31 11190156 2021-12-31 11190156 c:Director1 2022-01-01 2022-12-31 11190156 d:CurrentFinancialInstruments 2022-12-31 11190156 d:CurrentFinancialInstruments 2021-12-31 11190156 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11190156 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 11190156 d:ShareCapital 2022-12-31 11190156 d:ShareCapital 2021-12-31 11190156 d:RetainedEarningsAccumulatedLosses 2022-12-31 11190156 d:RetainedEarningsAccumulatedLosses 2021-12-31 11190156 c:FRS102 2022-01-01 2022-12-31 11190156 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 11190156 c:FullAccounts 2022-01-01 2022-12-31 11190156 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 11190156 2 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 11190156









GLOBUS STUDENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

 
GLOBUS STUDENTS LIMITED
REGISTERED NUMBER: 11190156

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
1,055,778
769,202

Cash at bank and in hand
  
124,699
506,878

  
1,180,477
1,276,080

Creditors: amounts falling due within one year
 5 
(1,138,100)
(1,251,189)

Net current assets
  
 
 
42,377
 
 
24,891

  

Net assets
  
42,377
24,891


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
42,277
24,791

  
42,377
24,891


Page 1

 
GLOBUS STUDENTS LIMITED
REGISTERED NUMBER: 11190156
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



A J Chaytor
Director

Date: 25 October 2023

The notes on pages 3 to 5 form part of these financial statements.
Page 2

 
GLOBUS STUDENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Globus Students Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is Combe House, 33 Oakfield Road, Clifton, Bristol, England, BS8 2AT and its registered number is 11190156.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The directors are
satisfied that the company can continue as a going concern for the forseeable future and at
least the next 12 months.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
GLOBUS STUDENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 4

 
GLOBUS STUDENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2021 -3).


4.


Debtors

2022
2021
£
£


Trade debtors
-
257

Amounts owed by group undertakings
857,565
739,513

Other debtors
189,393
18,459

Prepayments and accrued income
8,820
10,973

1,055,778
769,202



5.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
11,166
596

Amounts owed to group undertakings
844,374
973,960

Corporation tax
4,102
-

Other creditors
800
38,463

Accruals and deferred income
277,658
238,170

1,138,100
1,251,189



6.Other financial commitments

The company is bound by an agreement with the bank meaning they are jointly liable with four other
group companies for all debts and interest and the debts are jointly secured on the companies'
investment property.


7.


Operating leases

The company entered into a 21 year lease with a fellow group company on 28 September 2018, under which 96% of net rental income is payable annually.

 
Page 5